Why GEMS will be part of the future of democratization of online labor — from an ICO investor perspective. Duma Andrei Follow Jan 6, 2018 · 3 min read

Disclaimer:This article was first shared on Steemit, and is part of Gems community program

In this blog post I will share my view on a hidden gem(s) I found.

The ICO I am talking about is called: Gems https://gems.org/ . They will (not try — but will) create a protocol for contracting laborers who will be able to perform micro tasks. Workers will stake tokens so that they will have a proof-of-work for their tasks and earn a reusable computed trust score, increasing the cost-efficiency of the network.

Nonetheless — I wish now to discuss the mechanics of:

A. Proof-of-community: A strong community

B. Proof-of-concept: A real product with real usage for real users.

C. Proof-of-usage: The product being used

A. Proof-of-community: A strong community

It’s not a coincidence that an ICO with such a strong founding team (co-founders of gifs.com) and advisors such as the co-f of Twitter, Augur, d0x, reCAPTCHA (and the list does not end here) did not do any marketing.

They did not had to. Besides their blog posts, the community (hint hint) will do everything it needs to be done, from creating subreddit threads, to writing articles to creating videos for promotions. And if we look as in retrospective the most successful ICOs are the ones with strong communities that really have done something for the project.

To get in the sale you have to contribute somehow.

People contributing in the ICO will be tied psychologically to the tokens, because they worked for it and will try to give it a real usage (point 3)

B. Proof-of-concept: A real product with real usage for real users.

All of my 3 points are really tied one to each other and have a continuation. So, what is the link between the community program and the product they will launch. Well it is very simple. They have left the community to the the “micro” marketing tasks so the the team can focus on the Alpha.

The most important part of any ICO is their product. If we look at the most successful ICOs ever, over 90 % had a prototype.

C. Proof-of-usage: The product being used

Sliding nicely from point 1 and 2, the proof-of-usage is the long run heart beating of every project. The micro tasks industry is a industry that needs a revolution in it, and this will not come from a big corporate tech company, no -it will be that small startup. And in our case, nowadays most of these startups will be block chain based.

Given that the community worked for those tokens they will of course use them, as they will own the tokens.

Damn, we live such in a nice period in our “future history”.