Storm A decentralized micro-job marketplace economy on Ethereum blockchain
After years of success promoting the blockchain space through our current app, we recognized the additional capabilities that our platform possessed to help the 4.68 billion eligible workers in the world (and not just the 3.4 billion people that can afford to work within today’s systems). By creating a secured, decentralized, micro-task marketplace, we can disrupt the current environment by empowering the users. The problem with today’s centralized systems (e.g. Fiverr, Upwork, and Mechanical Turk) is not only the nonsensical high fees (as high as 10-40% of the transaction), but also the lack of freelancer (seller) protections in their platform. It is time to evolve now.
Our vision is to use the power of blockchain to expand our platform to create StorMarket, the first decentralized micro-task marketplace economy. StorMarket will be a place where people can go to utilize their skills and talents to complete various tasks. In addition, automation via blockchain technology will allow for all of the project management and marketing aspect of a micro-task to be integrated into the platform. Blockchain will enable us to be the bridge to a new digital world economy.
By utilizing the power of blockchain, we are expanding our platform to create StorMarket, the first decentralized micro-task marketplace economy.
STORM Token Generation Event will expand an existing network of growing users:
Timeline And a tentative roadmap
BitMaker released A digital advertising application that uproots the traditional marketing methods by offering bitcoin in exchange for customer engagement.
BitTask feature released
Launched our first major release to allow users to opt-in to more multi-engagement level experiences.
August 1, 2017:
Release official whitepaper for StorMarket and STORM Token.
Public QA session held
Hold a public Q&A and AMA on Reddit to provide the public with opportunity to learn more about the upcoming crowdsale.
August 15, 2017:
STORM token crowdsale begins
August 15, 2017 13:00 UTC STORM Token becomes available for public purchase.
STORM tokens & BitMaker to be integrated
Enable STORM with BitMaker.
BitMaker for iOS to be launched
Launch BitMaker for iOS.
StorMarket mobile client to be launched
The first decentralized micro-task marketplace powered by STORM tokens.
Token Generation Event (TGE) Structure
Token Generation Event (TGE) Structure
7,500,000,000 Tokens to enable a sustainable ecosystem of Micro-tasks with micro-rewards.
Allocation for TGE
66.7% (includes pre-sale)
August 1, 2017
08/15/17 to 09/14/17
Token Distribution Date
Within 1 week at end of token generation event (by 9/21/2017)
Maximum Cap for TGE
USD $40M Smart Contracts; $10M Bittrex
* We are using a revolutionary hybrid crowdsale model where $10M will be distributed through Bittrex and $40M through smart contracts.
7,500,000,000 STORM Tokens will be created in total.
- 66.7% of tokens available for TGE(Includes presale) (Presale participants will be subject to a 6 month lock.)
- 15% of tokens available for User Rewards (Resource for acquisition, promotion, bonuses within StorMarket)
- 18.3% of tokens available for employees, contractors, partners of the company (12-month lock placed on all staff allocation to uphold long-term commitment to STORM)
STORM Token Mechanics
- All requestors of tasks in StorMarket will purchase STORM tokens at the rate of open market exchanges.
- STORM will be required to participate in any services of StorMarket's platform.
- Once users have STORM tokens, they will be able to list their own micro-tasks to ensure token circulation.
- STORM is an ERC20 compliant token operating on the Ethereum blockchain.
- 7,500,000,000 tokens will be created and no other tokens will be created afterwards. There will be a fixed supply.
- Our other application, BitMaker will also use STORM as the preferred reward token. STORM will be able to leverage the network of users already active with BitMaker.
Stay tuned For more Information
Storm Why StorMarket?
After six months of hiding in a cave, CakeCodes, Inc. is proud to officially announce our latest project StorMarket. Our Token Generation Event, which will begin on August 15th, will enable users to become part of a solution to a global problem; the freelance marketplace. We are excited to build upon our successes after creating a solid foundation with our application, BitMaker, by expanding into the blockchain space.
BitMaker has achieved global success as millions of users have earned cryptocurrency (Bitcoin and Ether) for actively engaging with companies like Hulu and Game of War in their free time. As we continued to build out our platform and improve our application, we recognized that there was a much bigger opportunity that could help our users earn even more cryptocurrency. BitMaker provided us with the opportunity to get an in-depth understanding of both the micro-task marketplace and the cryptocurrency industry.
Over the past five years, there has been a major shift in the freelance marketplace. Employers have begun to place a much higher emphasis on technology and automation, rendering the traditional “9–5” obsolete. By utilizing blockchain technology, StorMarket can remove the inefficiencies that currently flood this $2 trillion industry and restore power to the users.
The freelance marketplace, there are benefits to both the task performer and task poster:
Companies are now able to hire people from all over the world while maintaining operational efficiencies and reducing costs. The digital world allows for a company to hire a software developer from Brazil, a UX designer from England, and community manager from China. This is a major advantage to both parties: task performers are no longer bound by geographical location and task posters are able to hire from the global talent pool.
The freelance marketplace is HUGE and there are continuing signs of growth. In the United States alone, 34% of the workforce consists of freelancers and that number is expected to rise to 50% by the year 2020. In India, over 135 million people rely on freelancing as a primary reward for their time. The market potential does not stop there. There are currently 4.68 billion eligible workers worldwide, yet only 3.4 billion are currently working. That results in untapped potential of nearly 1.3 billion people. As freelancing become more prevalent in the global economy, the opportunity exists for StorMarket to unify the global workforce by creating a secured, decentralized micro-task platform.
Centralized platforms have established this as a strong market. Companies like Fiverr, Taskrabbit, Upwork, and Mechanical Turk have billions of dollars circulating their platform but the existing inefficiencies are hurting the users.
Users are paying nonsensical fees, up to 40%, and not receiving the corresponding value in return. Under the centralized system, the freelancers are not given the protections that they deserve and it creates a toxic relationship between the task poster and task performer. Blockchain can change this.
StorMarket will use “Smart Tasks” which will be templates for agreements made between task posters and task performers. The Smart Tasks will lay out timelines, milestone markers, and payment terms. The implementation of StorMarket Smart Tasks will provide protections for both parties decreasing the likelihood of foul play. Another unique feature that will help automate processes is that task posters will be able to list requirements that are expected for a specific tasks and only users who are qualified will be able to carry out the task. This ensures high quality performance which increases the overall trust in the platform. Automation via the blockchain allows us to reduce friction and carry out all contracts seamlessly.
In addition, blockchain allows us to significantly reduce the fees associated with posting and performing a micro-task and return the cost savings back to the people. Compared to the traditional companies, StorMarket will only have a 1% fee, which will be split amongst both parties. A lower fee encourages more activity on StorMarket, creating more cryptocurrency rewards for all.
Visit www.stormtoken.com for more information.
Storm - Meet the StormX Team, Democratizing the Micro-Task Market
Storm Market is driven by the clear purpose of democratizing and decentralizing the micro-task market. In so doing, Storm Market is creating opportunities for all who desire — irrespective of geographic or socio-economic circumstances — to gain the experience, expertise and skills, to empower them to attain better jobs, income, and access.
Here, StormX, Inc.’s founding executives Simon Yu (CEO), Rui Maximo (CTO), Arry Yu (COO), and Calvin Hsieh (founding CTO) discuss how they are accomplishing this vision, and address the following:
- StormX, Inc.’s mission
- Storm Market is using the Ethereum blockchain to outperform our competitors
- StormX’s previous success with Storm Play
- Storm Market’s differentiation is focused on a gamified human-centric user experience
Finally, we are proud to have filmed this video in our Seattle, WA offices with the founding team members who are driven and passionate about bringing Storm Market to the world.
Read the full transcript below. If you like this video, give this post a “clap”, and we’ll continue making more videos for you.
We live in a digital world. And in this digital world, we’re no longer limited by geographical boundaries. Companies are able to hire a UX designer from China, a developer from Brazil, and a sales person from Europe. With Storm, our mission is simple. We want to create a token that allows users to learn, from anywhere, at any time, from any device.
We are helping users monetize their time and skill by performing micro-tasks in bite sized time slots. Whether you are waiting in line for coffee or riding the train home, we make it possible for you to earn. As the world moves into lightning speed, we at StormX want to help everyone around the globe capitalize on the opportunity to become freelancers.
In today’s freelancer market, industry leaders like fiverr, Upwork, and Amazon’s Mechanical Turk charge really high transaction fees; as high as 20–40%. Blockchain really allows us to significantly reduce these fees while increasing the services provided to people.
Our Storm Market is a marketplace for users to search and sign up for micro-tasks that they can perform right from their mobile devices. The user experience is engaging, making it more fun and rewarding.
We’ve been in the business of helping users earn micro-payments since 2014 with our app Storm Play, formerly known as BitMaker. Our game has awarded cryptocurrencies to over half a millions users in 187 countries.
The use of Ethereum’s blockchain allows us to deliver faster transactions at lower costs than our competitors. The users are paid almost immediately.
Our team is very excited about Storm. With the revolutionary technology behind it, it will have an enormous impact on the global job marketplace.
Please come follow us and support us www.stormtoken.com.
StormX Adds Two Technology Titans to Board of Advisors
Former Pitney Bowes CEO and Former AOL President join all-star team
StormX, the blockchain-powered adtech and gamified micro-task innovators, today announced that Michael J. Critelli, CEO and President of Dossia Service Corporation and former CEO of Pitney Bowes, and Amit Shafrir, former President of AOL Premium Services and former Executive President of Badoo, have been added to its Board of Advisors. Critelli and Shafrir bring decades of technology experience and unparalleled industry knowledge to the StormX Board.
StormX CEO Simon Yu said, “We are very proud to announce that Michael J. Critelli and Amit Shafrir have joined the StormX team. Both have solidified themselves as technology industry titans, having developed and grown some of the most well-known and transformative companies in the space, like AOL, Netscape, Pitney Bowes, and ICQ. We are confident that Michael and Amit will offer invaluable insights on creating an industry-leading technology platform focused on user-experience, while also helping us shape our unique StormX brand.”
Michael J. Critelli is the current President and CEO of Dossia Service Corporation, a health analytics platform provider that supports technology-driven population health management. Prior to his tenure at Dossia, Critelli was the CEO of Pitney Bowes, a global technology company best known for its postage meters and other mailing equipment and services. Under Critelli, the company transitioned its entire installed equipment base to digital, networked systems and was ranked as one of America’s most innovative companies.
“StormX is a company with a vision and mission to reconfigure the way work is designed and delivered, and to expand work opportunities and workforce skill development, and economic empowerment all over the world. I am excited to offer my counsel alongside its established team of multi-disciplinary experts,” said Michael J. Critelli.
Amit Shafrir has vast expertise in both consumer Internet and enterprise software. He has spent more than two decades managing some of the Internet’s most powerful and recognizable brands, including online service providers AOL and Netscape, and Badoo, the world’s largest social network for mobile and online dating. Currently, Shafrir is the CEO and Co-Founder of Quiv, a platform that connects users with experts, enabling them to ask questions in return for a charitable donation to the expert’s cause.
Amit Shafrir said, “I’ve spent my career looking for the next exciting technological innovation, and StormX fits the profile of a rapidly-growing, industry-defining business that will have a very large social impact. I feel that StormX has the potential to reshape the way the freelance industry operates and establish itself as a leading blockchain innovator.”
The StormX Board of Advisors includes prominent industry leaders such as Bancor Co-Founder Guy Benartzi, Bittrex CEO Bill Shihara, Jaxx Founder and CEO Anthony Di lorio, founding CTO of Zynga Tom Bollich, AlphaBit.fund CEO Liam Robertson and Strategist Brad Mills, VOIP pioneer and Vonage Founder and CEO Jeff Pulver, Alchemist Ventures and Ethereum Chief Strategist Steven Nerayoff Esq. LL.M., Juloot interactive Founder Hanan Gazit Ph.D., Brian Kelly Capital LLC Founder and CNBC contributor Brian Kelly, and Appuri Founder and CTO Damon Danieli.
Registration is now open for the STORM token crowdsale which starts Tuesday, November 7th via the official STORM website at stormtoken.com/tokensale.
About StormX, Inc.: StormX, Inc. is the creator of Storm Play (formerly known as BitMaker), and Storm Market, with gamified micro-tasks, where people can earn STORM tokens anywhere, at anytime, from any device. With over 1.2 million downloads, over 270k monthly active users across 187 countries, StormX is expanding based on the demand. Current gamified micro-tasks include trying out different products and services, like from Hulu, Dollar Shave Club and Final Fantasy. As Storm Market expands, the focus is adding new category of gamified micro-tasks (Storm Gigs) in Machine Learning and QA Testing. The vision is not only about enabling more micro-earning opportunities, but also creating a gamified path for people globally to advance in life with a whole new way of job advancement.
STORM Token Crowdsale Update
Segwit2x is history, while StormX is writing it.
What a week it was! It feels like a whirlwind of progress has been made, especially with the STORM Token Crowdsale well underway.
Within just 24 hours of the public crowdsale starting, over $21.5 million in total ETH participation was made in STORM Token sales!
We’re extremely grateful to all of our supporters, especially those who joined the early access Community Appreciation Period. With your support, we are well on the way to reaching our Crowdsale goal. We are delighted with our progress and can’t wait to get started on upgrading our Storm Market platform to offer new opportunities to our community.
To recap the huge week we had last week:
1. Y&R selected us to join their prestigious SparkPlug Program
THIS IS HUGE. To share some insights on why this is an incredible opportunity to receive this exclusive invitation from Y&R, is all about the commercial benefits for StormX. It comes down to the opportunities in access to a greater pool of strategic resources and prospective customers, and especially the opportunity to learn from the highest-grade experts in the advertising industry. We are honored to have been selected and can’t wait to leverage Y&R’s insights to improve our value offering for the community, and execute on our roadmap.
2. Waves were made with the recent cancellation of Segwit2x
When news broke that Segwit2x had been cancelled, we saw an immediate spike in funds flooding into the STORM Token Crowdsale. This gave us a great boost starting off which we hope we can leverage to continue our success. The news is wind in our sales and a positive step forward for the cryptocurrency space overall.
3. Two incredible advisors David Drake and Charlie Shrem joined our Board of Advisors
With these two incredible sources of influence and knowledge joining our advisory board, our platform has the additional benefit of the incredible level of insight provided by two industry experts. We’ve no doubt that David and Charlie will help us achieve our goals and provide us with valuable strategic advice moving forward!
Thank you all for your support so far!
The STORM is here,
COO of StormX