Mar 112017
 

Joberr ICO
Joberr is a jobs platform built on Ethereum, with built-in protections for freelancers and employers. Joberr aims to be the Fiverr of the Ethereum and crypto world. By building on Ethereum, and making payments in Ethereum through smart contracts and escrow services, Joberr is able to reduce the operational cost compared to sites like Fiverr that need to work through traditional payment channels and use traditional technologies. As the Ethereum ecosystem grows in size, there will be an increased demand for marketplaces that match projects with talent. Joberr is a step in that direction.

Joberr itself will host an ICO and provide tokens for investors. These tokens are able to earn a percentage of the profits generated by the enterprise.

Joberr ICO and Token Value

Jobber is holding its ICO in two phases:

  • Phase-1 starts March 12th 2017 (and ends March 26th 2017). Maximum 50,000 USD to be raised. There will be a 30% bonus over Phase-2, as investors in this stage are taking on more risk.
  • Phase-2 dates are still to be determined, but it will be after the project development is completed. Maximum of 240,500 USD to be raised in this phase.

The most interesting aspect of the Joberr ICO from an investor perspective is the realism of the goals. The team has refused to try and raise as much as possible over as long a time-frame as possible. Instead, they have adopted the ‘sustainable business model’ ICO of raising as much as they need to get the product to market, and then use retained earnings to pay the team and grow the business. They have eschewed the classic VC ‘grow fast burn fast’ model in favor of organic growth going forward.

Investors that buy tokens in the first phase of the ICO should know that the development of the product is not completed yet, and they will therefore be taking on an additional risk. However, they will be rewarded with a 30% bonus over the second phase investors.

The project has several sources of possible income:

  • There is transaction fees for both buyers and sellers.
  • There will be premium listings that will cost money.
  • Revenue generating ads on the website.

There will likely emerge other sources of income if the site catches on with freelance workers. 50% of the net profits will get distributed to the token holders, in the form of Ethereum. The rest go to the team to continue operations and expand the business.

Existing Market and Tailwinds

Joberr is entering a market with several related solutions, but nothing for this specific use-case. Its pitch is to be the Fiverr for Ethereum, not a jobs-listing portal. For the cryptocurrency community today, the two most popular boards to look for freelance gigs are Reddit’s Jobs4Bitcoins subreddit, and Coinality.

The closest competition for Joberr is going to be Ethlance, which is geared towards the Ethereum community. Ethlance is also built on the Ethereum blockchain (and IPFS) to host data and contracts. However, it is important to realize that for a freelancer, Joberr gives more protections than Ethlance. Ethlance is similar to a jobs-listing site, which provides a decentralized way to host your job. However, it clearly states, for example, that Ethlance will not manage any disputes between the worker and employer. This is a big problem for freelancers to work on gigs for employers they have no previous relationship with.

Joberr, on the other hand, offers both employer and freelancer protection. To protect freelancers, Joberr has an escrow system. It also has a 2-sided reputation system that will help maintain existing relationships and build new ones. They also anticipate a third-party dispute resolution system, which should increase confidence of both freelancers and employers to use the platform.

Joberr will also likely compete with Colony, another decentralized Ethereum-based marketplace. However, colony isn’t live yet, and has a much grander vision on the future of work, and helping build companies together instead of one-off tasks.

The biggest tailwind for a jobs marketplace like Joberr is the rapidly expanding Ethereum ecosystem. As the number of projects on Ethereum increases, so will the demand for talent. Joberr can provide a one-stop shop for a new project to get off the ground, bringing in all sorts of talent, from designers to programmers to build an MVP. The potential is too great to ignore.

Check out Joberr here.

Photo Credit: Flickr

Share and Enjoy

  • Facebook
  • Twitter
  • Delicious
  • LinkedIn
  • StumbleUpon
  • Add to favorites
  • Email
  • RSS
Aug 172015
 

Augur Fundraising

Augur, the decentralized prediction marketplace to be built on top of Ethereum, has raised over half a million dollars on the very first day of the crowdfunding. The crowdfunding program has been eagerly awaited by investors, as they bet on future applications of cryptocurrency beyond just currency. The team had to wait for an official Ethereum launch before announcing their own crowdsale, since Augur is built on Ethereum (owing to a higher programming flexibility of smart contracts on Ethereum than Bitcoin). The team promises that people can use Bitcoin to place their bets on events.

As of this writing, Augur raised over 1750 BTC and over 99,000 ETH, the two ways to crowdfund this project. The team has also partnered with ShapeShift in order to accept other altcoins, which are then immediately converted into Bitcoin. The total raised so far (at BTC/USD of 257.77 and ETH/USD of 1.17 reported by Coinmarketcap) is around $567,788. The crowdfunding seems to be quite successful so far, and based on the incentive schemes (15% extra for first 5 days), it appears that most of the money will be raised within the first 5 days.

Long-Awaited Crowdfunding

Augur’s crowdfunding has been awaited by many in the community, with it being postponed initially after Koinify pivoted from providing a crowdfunding platform. Originally, Augur crowdsale was supposed to take place on Koinify, which had hosted other successful crowdsourced projects in the crypto space such as GetGems and Factom. Also, the launch of this crowdsale was delayed due to delays in the production release of Ethereum, although the Augur team built an alpha application to test on top of the Ethereum testnet.

Also, the current crowdfunding will be managed by the Augur Forecast Foundation, BitGo and Vitalik Buterin, the founder of Ethereum. Vitalik has been one of the early funders of the project, and seems to be fairly involved in the project and the team. Augur also appears to be the first major release on Ethereum, so will be closely watched.

Prediction Markets

Prediction markets in a decentralized, uncensored manner, will provide for very interesting intelligence from the so-called ‘wisdom of the crowds’. The phenomenon has been studied quite extensively in academia, but researchers have been limited in their research because they are considered illegal in the United States. With the opening up a platform like Augur, this might easily change in the future, providing an invaluable tool to researchers to gather intelligence.

The idea of Augur is based on the Truthcoin whitepaper, although it has been modified substantially by now. The reputation tokens (which is what the presale is for) called REP will be distributed among the masses, and they will vote on event outcomes. Everyone has an incentive to vote for the ‘right’ outcome i.e., with the crowd, which gains them more reputation points. Otherwise, they lose reputation points.

Recently, Reason ran a detailed article on Augur, exploring how it could be a betting platform, especially sports betting.

No tips yet.
Be the first to tip!

Like this post? Tip me with bitcoin!

1Er9g2iLDBXkXcKXLeyAcGS8RSDRDcSqBY

If you enjoyed reading this post, please consider tipping me using Bitcoin. Each post gets its own unique Bitcoin address so by tipping you're not only making my continued efforts possible but telling me what you liked.

Share and Enjoy

  • Facebook
  • Twitter
  • Delicious
  • LinkedIn
  • StumbleUpon
  • Add to favorites
  • Email
  • RSS
Jan 032015
 

Best Altcoins of 2015

These are the best altcoins to invest in, in 2015, in my opinion. Each one has promising prospects that may or may not pan out, but if you’re willing to take the risk, these are worth exploring further. If not, just hold on your Bitcoins! There are many interesting cryptocurrency projects out there. Unfortunately, it’s hard to separate out the best and most promising ones from the rest. In my view, the following are the ones to keep an eye out on, in 2015.

Note: This shouldn’t be taken as investment advice. Please do your own due diligence before putting any money into anything in the cryptocurrency space.

Counterparty

Counterparty is one of the most interesting cryptocurrencies out there, with a large potential reward. The biggest win for this would be if Medici goes live and becomes an actual stock exchange (for those who don’t know, Overstock hired the original Counterparty devs to work on Medici, a blockchain-based stock-trading platform). Even if it lists a single low-value stock, the value proposition would be huge. Also, it would mean it has overcome all the regulatory hurdles associated with such a project, which in and of itself would be a big achievement. The developers are also quite good, and actively work on the project (e.g. they were able to port the functionality of Ethereum on to the Counterparty protocol). It has other advantages, such as being built on top of the Bitcoin blockchain and an initial proof-of-burn instead of ICO/IPO model. Counterparty is definitely something to keep an eye out on, going into 2015.

Bitshares

Bitshares is another ambitious project, which has a lot of potential to do well in 2015 and beyond (in spite of a rich history of missing every deadline and reneging on their original promises several times). At its core, Bitshares provides a way to trade assets like BitUSD and BitGold, which track the value of USD and Gold through a clever mixture of price feeds and prediction-market-style price convergence mechanism (giving incentives for longs and shorts when the price deviates either way). It is also a good way to short, say, BTC, through bitBTC, which should help accelerate the price discovery of Bitcoin itself, assuming it is able to have significant volume.

It also uses a delegated proof of stake mechanism to secure the blockchain. Risk factors include the centralization of decisions (e.g. making a deflationary currency inflationary, which has already been done) that might keep investors up at night and a belligerent community that expels any criticism, thus keeping away many good members of the wider crypto community (such as a whole drama with Adam Levine of Lets Talk Bitcoin). Even then, the project has some good potential and would be interesting to see its growth into 2015 and if the ecosystem can mature. In addition, there are new products planned, especially an auction-style decentralized DNS system which could gain more traction than Namecoin (due to the profit model and disincentives to domain-squat) and a decentralized voting system.

MaidsafeCoin

Maidsafe, as a project, goes back to before Bitcoin was even invented. It is probably the most ambitious project of them all, since it isn’t blockchain-based like all other projects on this list, but wants to ‘decentralize the internet’. There is a lot of theory behind how Maidsafe is supposed to work, and it’s not all easy (there’s your big risk factor right there). On the other hand, there is a lot of progress being made, and quite a few developers are already building apps for this system. If the release is successful, expect the coin to rise significantly in value.

Stellar

Stellar is just like Ripple, but is hoping to have a better distribution model. Also, it is backed by some big names in Silicon Valley, which might give it some edge. Being a more trust-based system than say Bitcoin, Stellar needs connections in its network which will be used to transfer value. Ripple actually made some significant progress on the business front in 2014, and if Stellar can get some banks, especially across continents, to use their network for clearing trades, it would be a significant win. Stellar also has quite a few developers working on apps and gateways for Stellar, which is always encouraging. I am not holding my breath, but Stellar has a lot of potential to grow, especially when you compare Stellar’s marketcap with Ripple marketcap.

NXT

NXT is a cryptocurrency that always surprises to the upside, since its launch (remember the initial crowdfunding?) and you never know what 2015 is going to bring. There are many features being implemented, and even though Counterparty is gaining a good deal of traction, several new ‘appcoins’ are being built on top of the NXT network. It has a good developer community, and has had a relatively quiet 2014, so I am definitely looking forward to what 2015 will bring.

Ethereum

Ethereum is perhaps the most talked about altcoin in existence today. Over a period of a few years, its programming language might change the way we look at applications. It is powerful, and it needs a lot of developers building on top of its blockchain. It was arguably the most successful IPO/ICO ever in the space, so be aware of that before you decide to invest. It seems futile to try to predict Ethereum’s success in the short term. Unfortunately, the technology is yet to prove itself in the battlefield, so I’ll defer my comments. It does have a lot of potential though.

Photo Credit: David Diaz

No tips yet.
Be the first to tip!

Like this post? Tip me with bitcoin!

1ApZQtsujcHxtKdZtiX5ApuDXWE9WZXhsV

If you enjoyed reading this post, please consider tipping me using Bitcoin. Each post gets its own unique Bitcoin address so by tipping you're not only making my continued efforts possible but telling me what you liked.

Share and Enjoy

  • Facebook
  • Twitter
  • Delicious
  • LinkedIn
  • StumbleUpon
  • Add to favorites
  • Email
  • RSS