Latium CEO Explains Micro-Tasking Platform Advantages
In an exclusive interview with David Johnson, CEO and Co-founder of Latium, Cryptovest host Nikita Sachdev finds out more about the new gig economy crypto platform.
The Latium Platform
Latium (LATX) is a blockchain-based crowdsourcing project that leverages freelance internet users, allowing them to perform ‘micro tasks’ in exchange for cryptocurrency rewards that can be stored on the website’s wallet.
These tasks can be anything from sharing posts on social media, registering new online accounts and watching promotional videos, that are posted by ‘Employers’ on the website’s hiring page. Registered ‘Employees’ on the Latium platform who fulfil these roles are paid in the native LATX token, which can be traded on the website’s feeless internal exchange for Bitcoin (BTC), Ethereum (ETH) and OmiseGo (OMG). Because “Employers” have to pay users in LATX initially, it automatically generates high market demand for the coin as a result of its intrinsic utility. There is also a referral scheme which will allow members to gain additional LATX tokens simply by introducing friends and family members to the platform. The main concept behind this project is to allow both crypto-enthusiasts and newcomers to the market to receive virtual currencies by “investing their effort and not their money”; something David Johnson believes will create a more stable and engaged community because users will not have to pay into the system with their own money.
The Latium Mission
Johnson explains that his innovative project will not only incentivise active community members but will also help drive mainstream adoption by making it fundamentally easier for non-crypto users to gain access to the market; removing many of the technical barriers that typically prevent most people from getting involved.
“We’re trying to allow anyone who is interested in crypto but doesn’t necessarily have the technical knowledge or understand the complexity to get involved. Anybody who can perform any task on the internet can come in and get paid in crypto so instead of figuring out how to buy it or how to store it, we help you with all of that.”
The Latium Blockchain
The Latium blockchain is currently in development and will include an entirely new Proof-of-Human (PoH) protocol to achieve network consensus. PoH has been designed to provide everybody with an equal opportunity to participate in the network, unlike PoW and PoS systems which only benefit large mining companies or stakeholders, respectively.
“[Proof-of-Human] is totally proprietary concept… The reason that we’re doing [this] instead of relying on PoW and PoS, is because there are flaws in the economics. Proof-of-Work there is a very small amount of people that control the network. With Proof-of-Stake, the more coins you have the better chance you have at staking and making more coins, so it’s truly a ‘rich get richer’ economy… We think that people have value, peoples production is what creates economy and so everyone should have the chance at participating”
The Latium project is really breaking the mould on how the crypto community can earn, trade and engage with virtual currencies. With more supported cryptocurrencies and fiat options expected soon on the roadmap - and not to mention having the King of Crypto himself, John Mcafee on the board of advisors - the future is looking bright for Latium.