Jay Addison reports on GEMS, a Bitcoin App that lets Users Earn Money From Social Messaging
Koinify, the crypto crowdfunding platform, has announced that Gems will be the focus of their first crypto-currency fundraiser. Gems is a recently announced app that can be described as “messenger meets crypto-currency,” with a fully encrypted mobile messaging system AND a built-in digital wallet where you collect, store, and spend gems tokens accumulated through your participation as a user.
The Tel Aviv-based startup’s founder, Daniel Peled, came up with the idea of combining a messaging app with crypto-currency, and began developing the idea with two programing partners. Their mission was to make it easy—almost transparent—to earn and save Bitcoin, using a new token called Gems.
According to Peled, “There are two reasons we started with the Gems project.”
At the moment, the masses lack a strong incentive to enter the Bitcoin ecosystem. Gems solves this problem by ingeniously taking the most adopted form of online communication, mobile social messaging, and introducing a value-reward system built on top of Bitcoin.
We also wanted to create an easy, simple way for people to open and use a bitcoin wallet. Currently, when we introduce Bitcoin to new users, the process remains very complicated. We need to go to Blockchain.info, set up a wallet and then explain public and private keys, two-factor authentication, cold storage, and so on. It takes typically one to two hours to introduce someone to Bitcoin and get them set up in the ecosystem.
Through Gems, we make all of this very simple. The registration process takes ten seconds. Your username serves as your Bitcoin address. From the beginning, you’ll automatically have a few gems to play with—right from the start you’ll be using a crypto-currency without doing anything difficult.
Produced by Trent E. Nellis Chief Operations Advisor CryptoBiz Magazine.