The Latium ICO is seeking to tokenise the On-Demand Economy by building a platform on the Ethereum blockchain, with John Mcafee a vocal promoter of the project.
The On-Demand Economy, a freelance-based employment model, is an established and growing arena with platforms such as Freelancer, Upwork and Task Rabbit already providing online services that marry up service seekers with freelancers.
Tasks can range from attending an event to writing a blog post through to designing a logo. Some tasks require specialist skills like coding, design or writing, others require someone to physically be present at a location, and others may require someone to deliver a parcel or drive a car from one place to another.
Latium’s objective will be to prove that such a platform operates more effectively and more reliably on a blockchain-based model and as a tokenised economy. Those who provide services will immediately be paid in Latium’s LATX tokens.
Freelancers will be scored for reputation through an AI-based algorithm on a scale from 0 to 1000 is, based entirely on data collected from previous jobs,
The project has been in development since mid-2016, and there are plans to launch a mobile app in the first half of 2018. The web version will be released later in 2018, and the goal is to have the platform operating as a full blockchain system in early 2019.
The ICO launched on 28 November and closes at the end of December. 180,000 out of a total 300,000 tokens are being placed up for sale in the ICO, which organisers hope will help raise an eventual $52.4 million.