CrowdWiz launches ICO for its crypto investment platform to tackle the ineffectiveness of established banking and financial institutions’ systems.
CrowdWiz, a decentralized and transparent crypto investment platform based on the ethereum protocol, announces today the launch of its Initial Coin Offering (ICO), which will take place in mid-September.
CrowdWiz is powered by Krypton Software, a division of leading fintech software company, TRADOLOGIC.
Founded in 2017, CrowdWiz uses a crowdsourced decision making process as an alternative to traditional investment funding. In other words, the platform uses the “wisdom of the crowd”, rather than fund managers, banks or middlemen thus avoiding them. In such a way, the community as a whole is able to control the pool of money.
This is how it works according to the CrowdWiz’ team:
For example, CrowdWiz’s users might offer two companies to invest in, Company A and Company B. Each individual user casts his or her vote in the form of WIZ tokens for whichever company he/she thinks is a better investment. Initial buy-ins for the vote can vary, and return investments will differ in size per user based on the original investment. The platform then distributes the funds based on the majority opinion of the crowd. In this case, the wisdom of the crowd produces the best and most promising company to invest in.
Being an entire ecosystem that shifts the power away from intermediaries and puts it with the investors themselves, the service provides investors with crowdsourced portfolio management, allowing them to use their WIZ tokens to vote on a specific asset, and then to fund certain projects. “CrowdWiz fund allows the crowd, not fund managers, banks or middlemen with conflicting interests, to decide on how the general fund is spent,”- they claim.
According to the CrowdWiz’ developers, the platform addresses the problems associated with traditional investment funds, which include high entrance costs, large fees, little or no transparency, conflicted and undisclosed personal interests. Instead, CrowdWiz offers its users:
- Little to no fees
- Complete transparency
- Self governance on a democratic investment platform
- The ability to vote and join smarter investments
- A safe place to invest, as the crowd can protect itself from fraud
- The ability to profit from financial services
- Multiple uses for the WIZ token – investment, trading, insurance, lending, etc.
Slavena Savcheva, Co-Founder and Head of Business Development & Marketing for CrowdWiz, said:
We are extremely proud to be launching a fully decentralized and democratic investment platform on ethereum. There is a big problem in the investment world today, in which fund managers overcharge for fees and sometimes withhold certain information from clients. CrowdWiz will change all this – giving the smart crowd, not a biased third party, the power to ultimately decide how their money is invested.
Upcoming CrowdWiz ICO
During the ICO, scheduled on mid-September, potential investors will be able to purchase CrowdWiz’s WIZ token. The amount sought seems indefinite and will be determined by demand for CrowdWiz’s WIZ tokens.
The proceeds from the ICO will be collected and used to form the general pool of funding money for the platform.
Eventually, token holders will be able to use WIZ for funding, exchange, lending, insurance, and more as more features are rolled out in the upcoming future.
In addition to the platform, CrowdWiz has begun planning and developing their next solution to continue the fight against monopolies and regulation. This is CrowdWiz Exchange, which will be managed by token holders who decide what assets are to be listed on the exchange. CrowdWiz exchange also plans to use the crowd to eliminate fraud. By leveraging transparency and the wisdom of the masses, adding other decentralized investment platforms to their solutions portfolio will add continued value to the token.
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