GetGems update #25 — August 7th, 2016
With over 222,000 registered users on GetGems, we concede this update is long overdue, however we have all been very busy.
Let me explain by going over a little history which we hope will answer your questions, and if after reading, you have more questions about GetGems, please contact me directly at david@getgems.org. Any enquiries regarding PayKey should be made via email to info@PayKey.com
In 2014 Decentralized Mobile Applications Ltd. was formed by Daniel Peled. I joined shortly after and the GetGems project was started.
In November/December of that year the initial funding of approx. $780,000 was raised through a crowdsale of tokens, from 1251 members of the Bitcoin community. As provided in the roadmap, these funds have since been used to develop the GetGems app and GetGems desktop Client which has allowed us to achieve the infrastructure milestones that were set out.
Having said this, the goals and objectives of the GetGems project have not changed, at all.
In the fall of 2015 Decentralized Mobile Applications Ltd. created a new project to develop a banking technology called PayKey. For more information go to PayKey.com
PayKey is a separate project not connected to the GetGems project and was not developed with money from the token crowdsale.
If you have followed the development of GetGems, you will see that GetGems has created both Android and iOS apps which allowed for the transfer of in-app tokens called GEMZ as well as a secure Bitcoin wallet, followed by a web browser version for GEMZ that allowed for sending and receiving the in-app tokens and creating Channels that are able to be rewarded for participation. In the coming months many additional features will be added. This infrastructure has been built on top of the Telegram platform, just like the GetGems token was created on the Counterparty platform. In meeting our milestones, we have now created the infrastructure for the Attention Economy.
The Value Question
Early in the development of the app, and independently of the GetGems development team, a few crypto-currency exchanges felt that it would be in their interest to carry GEMZ tokens to allow trading against the ever-moving bitcoin price. The price on these exchanges rose and fell depending on many factors, the least of which was the utility of the app.
GEMZ is a token created on the Counterparty platform, operating on the Bitcoin Blockchain, and people who hold GEMZ are free to do what they wish with them, including buying more, selling some or sending them to the GetGems app to use as intended.
Communication Revision 3.0
With the advent of our newest Android version known as GetGems 3.0 you have probably noticed new formatting which showcases the Official GetGems Channel and a new GetGems Q&A SuperGroup to help you keep up to date with changes and additions to the GetGems platform.
An updated iOS version will soon reflect these changes as well.
See you on GetGems!
David R. Allen
GetGems Community and Support
