Something more than a cryptocurrency
In this article you will learn about the idea behind Gems and why, in my opinion, Gems will be one of the most exciting projects related to the use of Blockchain technology. In the article I will cover the following points:
- Basic clarification of the blockchain and its use in most cryptocurrencies
- The Gems team
- The problems that Gems will try to solve
- The way Gems will be realized
Blockchain
For those of you who are not familiar with the technology and the cryptocurrencies, I will try to summarize the idea behind them briefly, given that the technology behind them is a relatively complex issue, especially for people with no knowledge in computer technology.
Blockchain technology first appeared conceptually in 2008, and it soon became the basis of Bitcoin's data structure in 2009. Blockchain in simple form is a linked block of blocks, the block being the building block that carries a number of occurrences of transactions within itself. The idea is to use cryptography to add the new blocks of transactions between the network members of the cryptogram, at the end of the already existing sheet. The idea of Blockchain is to share databases, which means that each Blockchain-based cryptographic holder also has a list of completed blocks with transactions in them. Depending on the encryption protocol and the protocol that its developers have implemented, the algorithms used to support this network of users and shared databases may vary. The greatest benefit of this technology is the avoidance of a centralized system responsible for financial transactions between people or so-called "Banks".
Gems Team
The Gems team is perhaps one of the most exciting and powerful parts of this project. The creation of Gems features some incredibly prominent personalities. Some have been involved in the creation of cryptocurrencies and some have been contributors to the creation of Twitter, Medium, reCAPTCHA and gifs.com.
- Rory O'Reilly , co-founder of gifs.com
- Kieran O'Reilly, co-founder of gifs.com
The creators Rory and Kieran O'Reilly are brothers who have studied at Harvard. Rory studied psychology and economics, and his brother Kieran studied computer science. In 2014, however, they both left Harvard to look for a better future and development for themselves by going to the Silicon Valley, California, where they also managed to create gifs.com.
- Biz Stone – Co-Founder of Twitter and Medium
- Joey Krug – Co-Founder of Augur
- Ben Maurer – Co-Founder of reCAPTCHA
- Luis Cuende – Co-Founder of Aragon and Stampery
- Joe Urgo – Co-Founder of district0x and Founder of Sourcerers
The Idea - Micro Tasks
In the world of computers and the Internet there are kinds of work that can not be done by the computers themselves. Under these circumstances, human intervention is needed. And the cases where such activity is required are not very few. These things people have to do instead of computers are called "micro tasks". Micro tasks can be of a different nature, such as training artificial intelligence to recognize objects of photos, collecting and providing statistical information from different sources, or browsing images on some web site for obscene content. The trend is that there is a growing need for people to do such "micro tasks" with each passing year.
The idea of platforms that provide "micro tasks" and guaranteed pay for their implementation is not new. In 2005, Amazon launched Amazon's Mechanical Turk, with the platform being the number one online market for "micro tasks" in the world.
The Problems
The main problem currently exists is that the platforms that provide "micro tasks" actually play the role of a dealer or a "middle man" who takes a high percentage of the profit for a completed task, because it connects the bidders and jobseekers. For example, Amazon's Mechanical Turk can safely hold up to 40% of the amount earned.
Another major problem is the difficulty in determining whether a task is being performed. Therefore, sometimes given tasks are done by many people to have a higher percentage of security for the task to be performed correctly. This, in turn, is a waste of resources.
Another problem is that there is still a large percentage of people who can contribute to this industry but do not have bank accounts. This makes it impossible for these people to perform "micro tasks" on any platform and at the same time receive reward.
Last but not least, "micro tasks" platforms are far from good graphical environments, and in most cases, the graphical work environments that people have to use are mostly provided directly by the guarantors. This is a prerequisite for the difficulty of using the graphics environments that guarantors provide.
The Solution
The idea behind Gems is actually very simple and unique - to create a platform for offering "micro tasks", and the team will use Blockchain to implement it. This will allow for a direct peer to peer connection and a digital contract between a contractor and a "micro task" guarantor, as well as a direct payment in the form of crypto-data. In this way, the absurdly high fees that current platforms impose will be eliminated. All those who do not have bank accounts will be given the opportunity to receive their reward in the form of a cryptocurrency.
As a bonus for eliminating major issues, Gems' team will work to improve the effectiveness of confirming completed tasks. Gems will also aim to provide well-designed, reusable, and beneficial graphical environments with which people once familiarized and trained will have a higher performance rate when they accept "micro tasks" of a similar nature but different guarantors.
The technology
As a blockchain technology, Gems will use Ethereum, with GEMs token based on the ERC20 token standard being used as the payment unit.
Conclusion
Gems is really more than a cryptocurrency. Gems is a product of great potential, targeting a niche from the labor market, which has so far overlooked the people involved in it. The goal of Gems is to optimize, improve and refine this process by incorporating technology that is now time to be adopted as the currency exchange standard - the cryptocurrency.
Last but not least, the Gems team is made up of people with outstanding achievements and good experience, which in turn greatly enhances the guarantee of success in implementing this project.
Here are some of the differences between Gems and the existing solutions:
Website: https://gems.org/
Blog: https://blog.gems.org/
FAQ Page: https://gems.org/faq
Whitepaper: https://gems.org/whitepaper.pdf
Telegram: https://t.me/gemsorg
Twitter: https://twitter.com/gems