Among so many promising ICO’s GEMS is the one that steps out the most!
GEMS tries to revolutionize the Mechanical Turk industry by creating a decentralized open-sourced, human task crowdsourcing protocol on top of the Ethereum blockchain.
What is Mechanical Turk (MTurk)
Amazon, in 2005, created Amazon Mechanical Turk (MTurk), an online marketplace where requesters can crowdsource data collection by paying workers to perform micro tasks online. Since then, demand for micro task workers has increased. In a World Bank Report in 2015, industry experts concluded the largest crowdsourcing platforms Amazon Mechanical Turk and CrowdFlower, a venture backed company that has publically raised over $58 million[4] and is focused on enriching data used for AI, would quadruple their revenue from 2013 to 2016.
WHY GEMS?
Using the Gems Protocol, anyone can tap into the power of scalable micro task workers without needing to worry about task verification, trust, or payments. Gems is designed to disincentivize malicious actors and reward fair players. The Gems Protocol is comprised of a staking mechanism to ensure task completion, a trust mechanism to track worker integrity, and a payment system to reduce transaction fees. The GEM token, a multi-utility token, fuels the Gems Protocol. Gems uses its token mechanism to enforce the behavior of all participants, instead of being regulated by a single operator. We further introduce the first application using the Gems Protocol, aptly named the Gems Platform. The Gems Platform connects those who want work done (henceforth known as “requesters”) and human workers (henceforth known as “miners”). By using the Gems Protocol, the Gems Platform removes socioeconomic barriers that exist in centralized alternatives (e.g. large fees, market inefficiencies, need for bank accountants, etc.). Anyone can build on top of the Gems Platform, creating “modules” that are interfaces for particular human tasks. The first module the Gems team will build focuses on labeling data for AI.
In summary, the Gems Network addresses the following:
- Removing the middleman taking a large fee
- Verifying accuracy of results from crowdsourced tasks
- Supplying and building reusable interfaces
- Removing the need for existing banking infrastructure
- Properly incentivizing and disincentivizing miners and requesters
GEMS VS Existing solutions
Important Links
https://blog.gems.org/
https://twitter.com/gems
https://t.me/gemsorg
https://gems.org/whitepaper.pdf
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https://gems.org/whitepaper.pdf
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