Gems: Taking Back Social Networks

Last week I discovered a peer-to-peer messaging system that could hold real promise for the future of social networking — Gems. According to the white paper information being released during the project’s beta phase, Gems is a gateway to cryptocurrency, via the protocol of Bitcoin, and the Counterparty asset system, providing what could be a seamless slide into the world of shared success.
Taking Back Social Networks. “No blockchain knowledge is required,” says Daniel Peled, who leads the Gems development team. The Gems success structure opens the door to a model that upsets previous conceptions of business. “It is our belief that users bring value to a social network and they should be rewarded accordingly. We specifically designed Gems to give users full control over their data and the opportunity to profit from being a part of the network success.” Imagine a WhatsApp-style mobile experience with fully encrypted, private messaging, and a built in wallet, packaged in an app that simply looks like . . . a messaging app.
The Promotional Video. The overview comes complete with flashy graphics and bouncy music.

This post was published at Lets Talk Bitcoin on September 26th, 2014.