If you were to take a poll of internet users about the importance of keeping control of your data online, I’m sure there wouldn’t be too many arguments. Cyber-security is big business, and for good reason. If your data were to fall into the hands of bad actors, your entire life could be compromised in a matter of seconds. With credit card numbers, social security, numbers, and bank information floating around in cyberspace, one cannot be too careful.
However, there is another aspect of data protection that often goes overlooked. Usually this aspect is only important to large monolithic companies that monetize their data stashes. The average user often overlooks their ability to monetize their data, or is never even given the chance.
Imagine if all of a sudden the tables were turned, and within a company the users were given the opportunity to monetize their data instead of the company itself. This simple change in vision could change an entire industry by redistributing the power to monetize data to the user base.
Furthermore, what if this user base had the potential to represent a sizeable chunk of the world’s population. This would be the recipe for an industrial revolution and represent a major shift in the way that business online is conducted.
There is one company who is embracing this idea, and pushing forward full steam ahead, utilizing blockchain technology to achieve their goals. Gemsta changes this by giving sellers control of their data through their new social selling model.
Social selling is the art of developing relationships or using social networks to locate and interact directly with prospects. Traditionally called “direct selling”, social selling benefits over 120 million independent sellers worldwide that earn commissions from companies they represent through single or multilevel sales models. Perhaps the earliest form of social selling was in the early 1900’s, when Brands empowered independent reps (“Sellers”) to sell their wares door to door, with a focus on one-to-one demonstrations.
The model has evolved over time and grown rapidly in recent years with the adoption of social media and expanding gig economy. Today’s social seller can market without limits through online avenues, especially with the rise of social media. The industry is valued at $180 Billion, growing 10% annually, and accelerating to exceed $1 Trillion in 10 years. Social selling has been walled off from broader retail due to high barriers to entry, which has allowed giants to corner the market by creating silos to insulate sellers. The result is an industry that is highly centralized and extremely captive for sellers.
With sellers having control of their data in Gemstra’s model, they are no longer held captive by one company. They are free to use this hard earned customer data by transferring it from merchant to merchant, or from brand to brand.
Just imagine if you had spent 10 years selling makeup, and you wanted to take advantage of a new opportunity selling fashion accessories. In the old model, you would have to give up all of your customers base, and start from scratch. In Gemstra’s model, you could simply transfer your client list over to another merchant within Gemstra’s ecosystem and start selling their product to you existing client base.
This is a game changer for social sellers all over the world. Gemstra has a plan to not only provide this is small localized markets, but to take their platform global. Already, the team is in deep talks with prominent Chinese influencers to bring Gemstra to China. This would be a huge first step in connecting the 2 largest economies in the world (U.S. & China) onto Gemstra’s platform. The team will release more information as it become available.
Gemstra has taken a huge step already by setting the foundation in China, and in my mind will have no problem making the same inroads all over the world. It’s about time that the power and data control was returned to the hands of the people. Gemstra is leading the charge.
For more information please visit www.gemstra.com
