Scannit Gives Users & Businesses More Control & Value

Scannit, a leader in digital financial identities, has announced the open beta launch of its cutting-edge financial management app at the upcoming TOKEN2049 event in Singapore.

This app allows users to track spending and earn SCAN tokens for contributing their data, empowering both individuals and businesses with greater control and value.

As privacy concerns grow, consumers are becoming more cautious, demanding greater control over their data.

In response, businesses are seeking innovative solutions that balance data collection with user trust, making Scannit's app a timely and valuable tool in this evolving landscape.

What is Scannit?

Scannit is designed to give users full control over their digital identities by prioritising transparency, security, and equitable value exchange.

For businesses, Scannit offers direct access to high-quality, user-consented data, including valuable insights into offline purchases—an area often overlooked by traditional data collection methods.

The platform empowers users to manage their financial data with complete transparency, allowing them to control who can access their information at any time.

By automating financial tracking, Scannit reduces the need for manual effort, while rewarding users with SCAN tokens for sharing their data, fostering a mutually beneficial and incentivised data exchange.

Scannit Features Scan to Earn

One key feature of Scannit is "Scan-to-Earn," which allows users to scan receipts or upload transaction data in exchange for SCAN tokens, the platform's native currency.

This approach fosters a transparent, user-centric data-sharing ecosystem by rewarding participants for their contributions while giving them greater control over their data usage.

Additionally, Scannit plans to introduce its Intuitive Visual Digital Avatar (IVDA), a tool designed to empower users by granting them control over who can access their data and when.

The IVDA goes beyond standard data management, enabling individuals to take full ownership of their digital identity and providing transparency into how their information is used across platforms.

Though not part of the initial beta launch, this feature reflects Scannit’s long-term vision for enhanced user control and privacy.

Scannit to Onboard Minimum 10K Users During Beta

Scannit is gearing up to launch the open beta of its financial management app following TOKEN2049, a prominent Web3 event highlighting cutting-edge technologies.

With a focus on user-driven innovation, Scannit plans to refine its platform through feedback, incorporating key features that elevate data exchange and user experience.

The open beta in Singapore marks the first milestone in Scannit's broader growth strategy.

The company aims to onboard 10,000 users during the beta phase, with an ambitious target of reaching 100,000 users by the end of the first quarter post-launch.

Karl Nowak, CEO and Founder of Scannit, noted:

"Our innovative app is redefining the relationship between consumers and their data. With Scannit, users don't just manage their finances—they own their data and earn from it. We want to give back that power to the users. So, it should be your choice to give away that data if you want to. And if you do, you should get proper compensation for it.”

Importance of Ethics in Data Management

Scannit is committed to setting a high standard for ethical data exchange, empowering users with complete control over their data.

Users can determine who accesses their information, adjust permissions, and revoke access at any time, fostering greater trust and transparency in data-sharing.

Nowak highlighted the importance of ethics in data management:

“We see Web3 as a pivotal turning point, shifting away from the siloed, opaque practices of traditional Web2 systems to a transparent, user-centric model where individuals can actively participate in and benefit from the data economy.”

Scannit envisions a future where ethical data exchange becomes standard practice, enabling businesses to make informed decisions while respecting privacy and delivering real value to users.

What's Next for Scannit?

Since its inception, Scannit has made notable strides, securing seven figure investment and becoming part of the IoTeX Accelerator Cohort.

The platform has also gained recognition as an official Google Web3 Startup.

As Scannit moves forward, it plans to integrate AI-powered financial tools aimed at helping users optimise their spending, fostering deeper engagement and a more personalised experience.

The company is actively expanding its ecosystem by partnering with key stakeholders, all while maintaining its foundational promise of giving users complete ownership and control over their personal data.