Why Must We Decentralize?
Increasing efficiency and job security
A recent blog published on Entrepreneur offers convincing arguments for decentralizing certain key sectors in the economy, especially labor-intensive fields where the bulk of the productive output is currently being outsourced (i.e. “Gig economy”, freelance contractors). Reports have suggested that big corporations like FedEx, P&G, and Verizon outsource 20–50% of labor tasks.
The blog post also pointed out that the traditional paradigm of the gig economy significantly relies on the intermediaries (i.e. a middleman), which can contribute to the overall inefficiency of the industry:
“Whether it’s low-pay, increased income inequality, lack of benefits, unpredictable performance, broken contracts, scope creep or any of the other issues that come with gig workand/or using an independent workforce, it’s clear there are areas that need improvement if the gig economy is going to continue to be a reliable source of alternative work arrangements for enterprises.”
Why is blockchain the solution to improve the “gig economy?”
In answering this question, the Entrepreneur author, Chris Young, first points to Fiverr as a centralized example — a two-sided platform for people to buy and sell a variety of digital services typically offered by freelance contractors. Note that Fiverr charges a 20 percent commission on all transactions. Amongst many other inefficiencies that come with a centralized governance structure mentioned above, a high commission rate could likely threaten the long-term viability of the gig arrangement. Blockchain is poised to disrupt this.
Reveel’s partner, Gems is a blockchain-based solution on the journey to disrupt the labor outsourcing industry. Gems is the protocol for decentralized mechanical turk. The Gems platform connects microtaskers with jobs anywhere in the world, without a middleman charging overpriced commissions. As their platform grows, it will be exciting to see the impact of connecting employers seeking additional work output with talented microtaskers. Gems is the ideal partner for Reveel because our integration will allow media owners on the Reveel platform, access to a global community of trusted, certified media taggers. These media taggers will be completing micro tasks — facilitated by the Gems platform — to support the creation of multi-channel media campaigns.
Building on Reveel’s ongoing success of empowering brands and media owners to boost audience engagement and consumer conversion rate, we are excited to integrate the Gems protocol as part of our broader initiative to create a decentralized media marketplace that simplifies multi-channel media campaign execution for brands and media owners.
