Last updated on January 2nd, 2018 at 12:00 am
In the world of crypto currency in 2014 we have seen amazing projects testing the limits such as Ethereum, Storj, Supernet, Circle, SWARM, and dozens more. With so much innovation happening all around us we have seen the price falling most of the year and no new people entering the market. I for one have been confused as I expected the mass population to grasp crypto as I have. The majority of people in crypto only seem to care about the price and not the world changing technology behind it.
When we talk to people about Bitcoin we all get the same issues. If you talk about public and private keys you lose people’s attention. When people hear about Gox and many other scams they tend to disappear. We hear “its used by drug dealer’s” “the price is not stable enough” and many other typical quotes we all hear daily when talking to our friends about bitcoin.
How Gems is Working to Change Cryptocurrency
Gems CEO Daniel Peled looked at the same problems, and thought to himself, “How can we bring people into crypto.” The solution he started to work on was integrating a Bitcoin wallet into technology we all use everyday. A social messenger application was his solution.
We all have a smartphone now and we all have multiple social messaging apps. Whatsapp, Telegram, Line, Viber, Snapchat, Facebook Messenger and much more. The one thing all of these apps do is profit off of the users. They use our personal data against us and profit from our personal information. Currently Social Media is anything but our’s. There is a saying “if a product is free you are the product” and this is now the case with Social Media.
There are companies out there that are bringing the power and profitability of social media to the users. One example is Tsu, a new social media site that pays the users the profits from the network. Another example is Bitsies that is coming out in the next couple of months. Its an app where users can get paid for their content, as other users need to pay to unlock content within the app.
Gems also has been working hard to solve this problem. They have created a social messenger much like current apps. The difference is Gems has encrypted messaging peer to peer so users can be sure their personal content stays between the people it was meant for. The biggest advantage of Gems is the users get paid to help the network grow. Gems was built with viral marketing in mind from the conception. Users will get rewarded Gems for every user they invite to the network. By helping the network grow larger you will be rewarded with XGEM tokens. Like other social media Gems will encourage advertising within the platform.
Paying Users to Use an App Has Had Success in the Past
There have been apps to pay users for using the app before. Hike, out of India, got 35 million downloads by offering incentives to users to use the app. Gems has looked at this model and realized Gems can become a global revelation. Bitcoin has had only a few millions users tops and if Gems is able to have even a slight success that apps like Hike, or other apps, Gems could expand the number of Bitcoin users dramatically. Gems target audience is main stream society. In order to thrive bitcoin needs to expand its user base. Gems has the ability to bring crypto currency to millions of new users.
Gems will be available in iTunes December 30th. It will be available for Android by May. To make it an even playing field referral rewards will not start until both apps are released.
Gems and Konify
Gems will be the first project to be funded through Koinify. Koinify is a new platform to fund DApp’s (decentralized apps). Unlike all other platforms Koinify is bringing order to the crypto world. Projects funded through Koinify need to hit certain benchmarks to access their funds. This will ensure Gems app is live and living up to their promises in order to receive the funding. The token sale kicked off December 1st 2014 on Koinify and has raised over 1100 btc so far.