Gems Whitepaper Summary

In the sea of new ICOs it is key to look for projects that are doing something new and have strong individuals backing them. Gems is a coin looking to disrupt the market of mechanical turks (MTurks), and is backed by a co-founder of Twitter. An MTurk is a small task that a company or individual pays for a human to complete. The purpose can range from university research to machine learning.

At this time there are two major players in the MTurk game: Amazon and Crowdflower. Both have their advantages and disadvantages, but the consistent disadvantage of both is that they take a cut off the top from both the turk sponsor and the turk completer. These fees can sum to 40% in some cases. This is where Gems looks to interrupt the market.

Gems will use Blockchain technology to validate turks, cutting out the middle-man and putting more money into the pockets of turk completers. An initial 'miner' will offer a small investment to complete a turk, which will then be checked by a 'verifier'. Both will complete the turk, and if the verifier and miner are consistent, both will be compensated in the form of GEMs.

More about what sets Gems apart:

This is of course a high level overview and I encourage you to spend 10 mins to read the whitepaper if you find this interesting or have worked with MTurks in the past: https://gems.org/whitepaper.pdf

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MEW: 0x9A76A935a38062D5D91D1Eb6D86a93b47c6f9432

Disclaimer:

As with everything, I suggest you read the Whitepaper yourself and make your own conclusions before investing. I have no affiliation with the companies involved, and in many cases am not investing even after my research. I am simply interpreting the Whitepapers as I come across them and offering my analysis.