CrowdWiz is an investment ecosystem based around the power of crowd wisdom. Find out what that means today in our CrowdWiz review.
What Is CrowdWiz?
CrowdWiz is a decentralized crowd wisdom investment platform that just recently announced its ICO.
The company’s platform is based on Ethereum. CrowdWiz’s ICO is taking place in mid-September.
CrowdWiz was created by Krypton Software, a division of a leading fintech software company called TRADOLOGIC.
Founded earlier this year, CrowdWiz uses a crowdsourced decision making process as an alternative to traditional investment advice. The platform takes the opinion of the crowd – rather the opinions of a small number of fund managers, banks, or middlemen – to make decisions about a community-controlled pool of money.
The ecosystem revolves around the use of WIZ tokens.
How Does CrowdWiz Work?
CrowdWiz’s team describes a straightforward example of how the platform works.
CrowdWiz’s users might be given the option to invest in two companies: Company A or Company B. Each individual CrowdWiz user casts his or her vote, using WIZ tokens to do so. The user picks Company A or Company B based on which one is perceived to be the better investment.
Initial buy-ins for the vote can vary. Return investments will differ in size per user based on the original investment.
Then, the platform distributes the funds based on the opinion of the majority of the crowd. The end result, in an ideal scenario, is that “the wisdom of the crowd produces the best and most promising company to invest in.”
You can join an existing investment pool on CrowdWiz – say, a pool with thousands of random people from the internet with strong performance over the last few months. Or, you can create your own investment pool among a trusted group of friends while still harnessing the transparent, blockchain-based, democratic CrowdWiz platform.
CrowdWiz is designed to be a replacement for conventional investment vehicles and funds. Today, investment firms, financial middlemen, and banks charge high entrance costs, large fees, and provide little or no transparency. These institutions often have conflicted and undisclosed personal interests – and yet people trust them with billions of dollars. With these problems in mind, CrowdWiz offers the following solutions:
- Little to no fees
- Complete transparency
- Self-governance on a democracy-based 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, including investment, trading, insurance, lending, etc.
The CrowdWiz Token Sale
The CrowdWiz ICO is scheduled for October 24th. During the ICO, investors can purchase the WIZ token. The company hasn’t listed any hard cap on its funding.
The proceeds from the ICO will be used to form the pool of investment funds used on the platform.
In the future, CrowdWiz token holders will be able to use WIZ tokens to fund, exchange, lend, provide insurance, and interact with more features planned for the platform.
CrowdWiz has reached out to let us know that their ICO launch date has been pushed back a week [we have updated dates here]. Here is what they said:
There has been some changes made to the CrowdWiz platform for a smoother registration and funding process. Because of these changes we needed to postpone our launch date by almost a week.
- ICO Launch – October 24th 12:00PM UTC
- End Date – November 7th 12:00PM UTC
The CrowdWiz Exchange
The first goal of CrowdWiz is to introduce a community-based investment platform the harnesses the wisdom of the crowd. In the future, however, the company plans to develop the CrowdWiz Exchange, designed to fight back against monopolies and regulation. The exchange is managed by token holders who decide what assets should be listed on the exchange.
CrowdWiz also plans to use their exchange to eliminate fraud, leverage transparency and wisdom of the masses, add other decentralized investment platforms to the solutions portfolio, and add continued value to the token.
The exchange isn’t the only feature expected to be added to the platform in the future. We’ll talk about other features down below.
CrowdWiz plans to implement all of the following features into its platform in the future:
WizFund is the pool of investment money controlled by the wisdom of the crowd. Token holders are free to invest in newly-created funds or establish a crowd wisdom fund of their own. You can create a crowd wisdom fund based on your family and friends, for example, or among a group of coworkers. It’s a transparent, low-cost investment pool platform.
WizExchange is a crowd-managed, self-directing exchange platform where token holders can determine which tokens are listed or removed. Token choices are made on a voting process.
WizStore can be used by software programmers to build tools and add-ons to help the ecosystem expand. All participants in the CrowdWiz ecosystem are encouraged to contribute with new voting and trading mechanisms, analysis tools, and signals. Publishers can also set a pricing model for third party apps developed on the platform.
WizVote is a fair voting mechanism that provides transparent, honest voting mechanisms to protect the ecosystem from fraud. The WizVote system only allows entitled members to vote which assets WizFund should invest into, and which ones should be added or removed from the exchange.
WizInvestment is an encompassing suite for the crowd wisdom-based products mentioned above, including the CrowdWiz Fund and the CrowdWiz Exchange. In the future, this platform will also include CrowdWiz Crypto Lending.
WizTrader is described as “a highly-technological trading mechanism” that “enhances performance and offers liquidity solutions through integration with all major, reputable exchanges.” Fully automated trade execution ensures the lowest possible market prices.
All of the components above will be part of the “Wiz Ecosystem”. You’ll be able to spend WIZ tokens to interact with these services.
Who’s Behind CrowdWiz?
CrowdWiz is a project created by Krypton Software, which is a division of leading fintech company TRADOLOGIC.
The project was launched in Q4 2016 and announced to the internet in Q3 2017. The token sale is taking place October 24th and will run through November 7th, with the exchange debut and WizFund beta expected in Q1 2018.
The company’s founding team consists of Michael Golod (Co-Founder and CEO), and Slavena Savcheva (Co-Founder and BizDev).
Krypton Software has been building fintech software since 2008. The company employs 60+ people.
CrowdWiz is an investment platform that involves using crowd wisdom to create smarter investment decisions. The platform lets you join existing funds or build your own fund. You can join a successful investment fund with thousands of members, for example. Or, you can create a small pool of investors among your friends and family. All investment decisions are performed in a democratic and transparent way.
The CrowdWiz ICO is taking place October 24th through November 7th, with the platform expected to launch in early 2018. You can learn more today by visiting the company online at CrowdWiz.io.