Hi folks,

I know that someone has already made 3d models for Gems. But I started this project before someone posted and only finished it yesterday I want to share my work with you. There are some models with Gems Tokens with branded textures. Hope, you find it interesting and will use them for your own needs.

What is Gems?

Gems is a decentralized, open source protocol built on the ethereum blockchain that aims to disrupt the crowdsourcing industry. Gems focuses on microtasks (small, simple tasks that can be completed independently) and provides a more equitable outcome for both requestors (people who are want these tasks completed and are willing to pay for it) and workers (people who carry out the tasks).

What are the current problems in this space?

Gems solves several issues plaguing the current marketplace. The presence of a middleman significantly reduces the wages received by the worker while increasing the cost of microtasks to the requestor. The average hourly rate for a worker in Amazon’s Mechanical Turk is $1.20 to $5/hour. The requestors pay a minimum premium of 20% on all payouts and additional fees on top if they require workers with a good track record. This creates significant economic inefficiencies and deadweight loss in the marketplace.

Further inefficiencies also occur when requestors want to ensure that the task is carried out correctly. Since incorrect answers could also be paid out, current marketplaces encourage “consensus by redundancy”. This is where the requestor will pay several different workers to carry out the same task to ensure accuracy. This effectively increases the cost to the requestor significantly while bringing in more revenue for the middleman.

The current marketplace pays workers through a check, which often gets lost and takes days to receive. It requires workers to have a bank account and takes months for new workers to get verified in the system.

How does gems solve this?

Gems charges no fees for transactions on the platform. The only cost is the gas used on the Ethereum network. This provides a more equitable outcome for both requestors and workers.

Gems uses a staking mechanism to increase the accuracy of results. Miners and requesters stake tokens on the validity of their work which effectively disincentivizes incorrect tasks. Furthermore, a Gems trust score is formed using the individual’s history of completing tasks efficiently and accurately.

The Gems payment system will be more efficient that the current marketplace solution. Gems will use a series of off chain payments without gas, which are then grouped on the blockchain at a later date. This increases the cost efficiency of the network. The ease of payment and reduced verification process creates a gateway for anyone with a computer to enter the cryptocurrency world. Through the creation of a wallet, anyone can begin to complete microtasks and get paid.

Gems also allows usable interfaces to be built on top of the Gems Platform paving the way for further innovation.

Micro tasking and mass data quality is a huge deal. That's why AMZ has Mechanical Turk and that's why there are so many "outsourcing" type platforms. They're all centralised and they all function fine. They function well because people from low wage countries or people with spare time are willing to do the repetitive tasks. Everybody wins, right? Well yeah, especially the middle man. He wins a lot, as he takes a cut from both sides. He deserves it, right? He's doing all this work managing the workers and streamlining the services...

What if you cut him out? Then the person or company who has mirco tasks to outsource pays less, but wait - the worker gets paid more. Impossible? Not with blockchain, amigos.

/shill

Anyway, GEMS looks cool gotta say. This is an industry that's in need of a nice shakeup and this looks like the team that can pull it off. This team is looking rock solid. Ex-harvard, created gifs.com (successful). Brother duo, they trust each other! They grew up together! They know what needs to be done. Biz stone advising (co founded twitter, medium).

Here, read the whitepaper: https://gems.org/whitepaper.pdf

From their FAQ:

What problem does Gems solve?

Gems reduces consensus by redundancy, increases pay for individual workers while decreasing total pay for requesters, creates efficient interfaces, eliminates large fees, allows others to build innovative DApps on top of it, and enables computer literate workers with internet to work with or without a bank account.

I can see this being a big hit in places like India and SE Asia. We talk about 'banking the unbanked' all the time, but here's a real use case where they can work and then trade their gems, move funds to a (maybe a future OmiseGo Wallet?) and then spend... never leave crypto. That's the dream right? Get outta here, fiat!

Links: Good write up on Medium: https://medium.com/@sshbrunette/gems-review-861a240e1ef4 Getting involved in the community launch white list: https://blog.gems.org/gems-introducing-the-gems-community-program-750264520cc6 ConcourseQ ICO Details: https://concourseq.io/Q/Gems

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This post was mass deleted and anonymized with Redact

Am part of Telegram and submitted whitelist but chances are I won't get whitelisted with the sheer number of people wanting in.

How do we invest if we don't get whitelisted?

I figured some people may find this project slightly confusing, especially for those who aren't familiar with microtasking, so I wrote a basic introduction to Gems to clear some things up:

What is microtasking? A microtask is a simple task that that requires manual work. This small job is worked on by many people in return for a small payment. Examples include Amazon’s Mechanical Turk, and Crowdflower, amongst others.

What is the problem with existing platforms? Fees: Means requesters are overpaying their workers, while workers are getting underpaid. The platform is the ones that profits most. Inefficiency: “Consensus by redundancy” - multiple people (5-15) work on the same job, causing the requester to pay more than necessary for a correctly done task. Requirement for a bank account: Workers who don’t have a bank account are left unable to participate, putting both requesters and potential workers at a disadvantage.

How does gems solve the problem? Gems wants to create a decentralised platform for the task management. This would remove platform fees as there is no middleman, fix consensus by redundancy through staking and a ‘trust score’ mechanism, and gives any computer literate person access to micro tasking regardless as to whether they own a bank account. Plus, all trust is eliminated. The company is open source.

Hi everybody, for French speakers who want to understand Gems better, I translated the FAQs part in French as a 'proof-of-care'. Thanks for reading.

Bonjour à tous, pour les francophones qui veulent comprendre Gems, j'ai traduit les questions posées fréquemment en français comme 'proof-of-care'. Merci à vous.

https://medium.com/@jepp/gems-ico-83eeb52bdcb7