Librium is a hybrid SaaS marketplace and freelance platform. Find out everything you need to know about the platform and its ICO today in our review.
What Is Librium?
Librium, found online at Librium.io, aims to disrupt today’s labor market. The Librium website claims 470 billion hours of human capital are wasted annually from lack of work. Furthermore, employers experience $150 million in lost value from talent mismatch in recruiting, and 1.5 billion workers are in vulnerable employment.
Librium sees itself as a solution to these problems.
That solution comes in the form of an on-demand, digital workplace accessible to businesses. Businesses can use the Librium platform to hire SaaS providers, for example, and freelancers.
“Librium provides an on demand, digital workforce for businesses,” explains the official website. “As a hybrid between a SaaS marketplace and a freelance platform, Librium connects markets of over supply to markets of undersupply. Librium empowers Digital Businesses, Service Providers (SPs), and workers.”
The Librium pre-ICO begins on November 8.
What Problems Does Librium Seek To Solve?
Librium believes that today’s labor markets are “broken” because unemployment exists in parallel to worker shortages. In other words, unemployment rates aren’t high, but companies are still struggling to find good workers.
This leads to wasted human capital as workers struggle to find work. It leads to wasted money from employers, as employers struggle to find qualified workers. And it leads to workers in vulnerable, mismatched employment opportunities.
Behind all of this, Librium reports that the online talent platform is expected to grow to $2.7 trillion by 2025.
How Does Librium Work?
Librium aims to solve all of the above problems by creating a marketplace for service providers. the platform sees itself as a hybrid between SaaS marketplaces and freelance platforms.
The ecosystem consists of individuals, businesses, and service providers:
Businesses (Digital Partners): Companies join the Librium network with the goal of improving and growing their businesses. These companies can use the network to access a decentralized digital workforce where micro-opportunities are identified and staffed by service providers, who connect employers with workers.
Individuals (Workers and Investors): Workers are members of the decentralized workforce. They provide skilled labor through service providers, who identify opportunities and provide the tools needed for better work efficiency. Workers are also called “investors” because they have the opportunity to invest time to earn returns beyond the going rate.
Service Providers (SPs): The Librium platform calls service providers SPs. SPs are the apps of the ecosystem. The role of SPs is to identify opportunities. SPs leverage workers’ skills by building tools and platforms, allowing them to bring value to digital partners. Sample SPs range from content marketing creation services to online sales teams to affiliate programs and more. Essentially, these are the apps of the Librium platform.
Right now, the Librium website lists one app called SparkSales. That app provides an on-demand e-commerce sales force using augmented chat technology. Ecommerce platforms can add it to their website to significantly increase earnings potential.
Upcoming apps include Affiliatus, SenDesQ, PhoneQuall, and HaQme. Overall, the pool of Librium apps, or SPs, will take advantage of business opportunities and leverage the skills of Librium workers.
Librium emphasizes the following features for all participants in the system, including businesses, users, and service providers:
Decentralized Ecosystem: The Librium ecosystem empowers a different way to do digital work. It connects, incentivizes, and pays users on the blockchain.
Identity and Reputation: Librium has a consistent, user-friendly identity and reputation system that empowers ecosystem actors to trust and be trusted.
Performance Indicator: The LibriumScore function allows businesses to put forward their track record of past performance as a proof of success.
Blockchain Protocol: Librium is based on decentralized blockchain technology to create a more efficient digital workforce.
Loan System: Librium allows users to “lend” their work to a business through the platform. A startup can borrow work from the digital workforce – say, during the bootstrap stages. Workers earn money than they would otherwise.
Award System: Participants in the Librium ecosystem will be incentivized to participate and bring value to the ecosystem, then rewarded with Librium’s EQL tokens based on their results.
Librium Essential Wallet: The Librium Wallet will allow e-commerce applications to use Librium at scale. This wallet can be used on the Librium marketplace to hold multiple cryptocurrencies.
The Librium Token Sale
The Librium token sale is scheduled to begin with a pre-sale on November 8, with a crowdsale beginning on December 8. The token generation event will take place on January 8, 2018. All sales begin at 10am EST.
A total of 400 million Librium tokens (EQL) will be offered for sale, which represents 40% of the total supply of 1 billion. The remaining 30% is held by SparkCo, with the other 30% for the token reserve.
No further EQL tokens will be created beyond the token sale.
Who’s Behind Librium?
Librium is led by Pierce Schiller (CEO), Marceau Lecomte (Blockchain Engineer), Thiago Amaro (Lead Developer) and Daniel Stewart (Business Development).
Schiller is a Harvard grad who has founded a number of biotech startups, including TarDisk, a file system allocation and hardware platform described as “The world’s first plug and play hybrid drive.”
Librium has partnered with the Harvard Innovation Lab, IBM Watson, and IBM’s Global Entrepreneur program to bring the platform to life. The company is based in Boston.
Librium is a platform that provides an on-demand, digital workforce for businesses. The platform aims to be a hybrid between a SaaS marketplace and a freelance platform. Businesses can use the platform to access talent efficiently, while individuals can work – or invest their time into – companies through the platform. Librium also integrates service providers, or SPs, into the platform. These are apps that leverage the power of the workforce – like a chat-based sales platform to empower a team of salespeople.
The token sale for Librium’s EQL tokens is underway throughout November and December 2017. You can learn more about the platform online today at Librium.io.