Overview:
With the revolution in the online market place leads to shut down of the physical stores, it becomes difficult to manage the profits for the retail stores due to high fee in the online channels. Gemstra is aiming to make social selling available to everyone, it is also called direct marketing. Direct selling industry is one is of the fast-growing in recent trends
Problem:
One of the major difficulty in the social selling industry is lot of entry barriers in this space, it results in limited number of merchants in the industry, there is a lot of domination from the market players like Amway, Avon, Marry Kay.
Solution:
Gemstra came up with the solution of problems in the current social selling industry by introducing decentralized market for social selling which uses proof of concept called BOUTIQUES.
Gemstra is a blockchain based tokenized ecosystem, ASTRA is a smart contract platform developed using blockchain technology.
It has smart contract platform called ASTRA which is built on Ethereum framework. It allows sellers, merchants and brands to interact with each other, each seller can participate with multiple participants and vice versa
It provides wallets for each merchants and sellers, based on the compensation plan they can participate in merchants. It provides governance over the customer information.
It uses smart contracts to ensure transparency in the payments done between merchants, sellers and brads.
Token economy:
Gemstra issues utility tokens called “GMS” which is used in the internal ecosystem for the services such as payments, commission and rewards.
Token details:
Token symbol: GMS
1 GMS= $0.01
Total supply of tokens: 16 Billion
Hardcap: $25,000,000
Softcap: $8,000,000
Private Sale: 01st Aug to 30th Sep 2018
Pre-Sale: 1st Oct to 31st Oct 2018
Main sale: 1st Nov to 30th Nov2018
Team:
Jay Cheng – CEO
He is a serial entrepreneur and has launched 2 internet companies – Baublebox and Jewelscent that reached 7-figure and 8-figure run rates respectively within few months of launch.
Joseph Lau – CoFounder
Joseph has worked with Jay for over 12 years. He led sales and business development at J.Good.in. He led growth at JewelScent’s launch driving revenue to $1 million monthly within six months.
Kevin Gambil – COO
Kevin is a C-level executive turned entrepreneur with over 25 years of experience. Kevin worked initially for large public companies like Alcoa and Alcan, progressing from engineering to business management and operations, including C-level positions with multiple $300 million+ privately held companies. He has spent the last 15+ years managing a portfolio of companies he invested in, consulted with, or operated.
Verdict:
Pros:
• Team members are having prior experience in various fields like software development, finance, coding, programming languages, etc.
• This project is partnered with western technology investment, New Alchemy, Mucker Capital, FisherBroyles and CETA Network
• Advisors team looks great, they have experienced candidates from blockchain and cryptocurrency
• It has Working MVP with them, which is already in the operation for the merchants and brands.
• Website is appealing good, it gives brief information about the project in landing page itself.
• Idea of the project looks good, it is benefiting both sellers and brands and seems viable in the future
Cons:
• Whitepaper explanation of the project is not well presented and little bit complex
• Roadmap of the project is unclear, it shows goal till January 2019 only.
Links:
Website: https://gemstra.com/
Whitepaper: https://docsend.com/view/xvyqq7a
Telegram: https://t.me/gemstra
Twitter: https://twitter.com/gemstraofficial
Medium: https://medium.com/gemstra
Bitcoin talk Username -anushkamehta0902
Bitcoin talk URL: https://bitcointalk.org/index.php?action=profile;u=2039767
ETH Address – 0xd1c62C22C078A0C6B1E42F7200F0b082EE81a64a