diff --git a/lib/rackstash/version.rb b/lib/rackstash/version.rb
index 7ad774e..77338fa 100644
--- a/lib/rackstash/version.rb
+++ b/lib/rackstash/version.rb
@@ -4,5 +4,36 @@
 # of the MIT license. See the LICENSE.txt file for details.
 
 module Rackstash
-  VERSION = '0.1.0'
+  # Version information about Rackstash.
+  module Version
+    # MAJOR version. It is incremented after incompatible API changes
+    MAJOR = 0
+    # MINOR version. It is incremented after adding functionality in a
+    # backwards-compatible manner
+    MINOR = 1
+    # PATCH version. It is incremented when making backwards-compatible
+    # bug-fixes.
+    PATCH = 0
+    # PRERELEASE suffix. Set to a alphanumeric string on any pre-release
+    # versions like beta or RC releases.
+    PRERELEASE = nil
+
+    # A standard string representation of the version parts
+    STRING = [MAJOR, MINOR, PATCH, PRERELEASE].compact.join('.').freeze
+
+    # @return [Gem::Version] the version of the currently loaded Rackstash as
+    #   a `Gem::Version`
+    def self.gem_version
+      Gem::Version.new to_s
+    end
+
+    # @return [String] the Rackstash version as a semver-compliant string
+    def self.to_s
+      STRING
+    end
+  end
+
+  # The Rackstash version as a semver-compliant string
+  # @see Version::STRING
+  VERSION = Version::STRING
 end
diff --git a/spec/rackstash/version_spec.rb b/spec/rackstash/version_spec.rb
new file mode 100644
index 0000000..0a9d434
--- /dev/null
+++ b/spec/rackstash/version_spec.rb
@@ -0,0 +1,23 @@
+# Copyright 2017 Holger Just
+#
+# This software may be modified and distributed under the terms
+# of the MIT license. See the LICENSE.txt file for details.
+
+require 'spec_helper'
+
+require 'rackstash/version'
+
+describe 'Rackstash::Version' do
+  it 'has a version number' do
+    expect(Rackstash::Version::STRING).to be_a String
+  end
+
+  it 'exposes the version as Rackstash::VERSION' do
+    expect(Rackstash::VERSION).to equal Rackstash::Version::STRING
+  end
+
+  it 'exposes a gem_version method' do
+    expect(Rackstash::Version.gem_version).to be_a Gem::Version
+    expect(Rackstash::Version.gem_version.to_s).to eql Rackstash::VERSION
+  end
+end
diff --git a/spec/rackstash_spec.rb b/spec/rackstash_spec.rb
index 78fdb4d..3ffab61 100644
--- a/spec/rackstash_spec.rb
+++ b/spec/rackstash_spec.rb
@@ -6,11 +6,4 @@
 require 'spec_helper'
 
 describe Rackstash do
-  it 'has a version number' do
-    expect(Rackstash::VERSION).not_to be nil
-  end
-
-  it 'does something useful' do
-    expect(false).to eq(true)
-  end
 end