The fintech software giant recently launched this cryptocurrency division, with a team of over 60 dedicated personnel and an existing backbone that transacted over 3 million items/actions. During the ICO, potential investors will be able to purchase CrowdWiz’s WIZ token. The proceeds from the ICO will be collected and used to form the general pool of funding money for the platform. Using the wisdom of the crowd, users will use the WIZ token to vote on a specific asset, in effect using crowdsourced information 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.
Rather than putting your money into the hands of unknown or third party fund managers, CrowdWiz allows the community as a whole to control the pool of money. 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.
CrowdWiz plans to bring fairness and transparency to the market by using the wisdom of the crowd, as under the right circumstances large enough groups tend to make remarkably good decisions and are often smarter than the smartest people in them. Eventually, token holders will be able to use WIZ to for funding, exchange, lending, insurance, and more as more features are rolled out in the upcoming future.
CrowdWiz is an entire ecosystem that shifts the power away from intermediaries and puts it back where it should be – with the investors themselves. The platform solves the problems associated with traditional investment funds, which often include high entrance cost, large fees, little to no transparency, and often conflicted and undisclosed personal interests. The ethereum based platform 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.
Aiming to continue the fight against monopolies and regulation, CrowdWiz has begun planning and developing their next venture, CrowdWiz Exchange, an exchange managed by token holders who decide what assets will be listed on the exchange. CrowdWiz exchange uses 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.
“We are extremely proud to be launching a fully decentralized and democratic investment platform on ethereum,” said Slavena Savcheva, Co-Founder and Head of Business Development & Marketing for CrowdWiz, “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.”