Exclusive: CrowdWiz Launches ICO to Fund its Crypto Investment Platform

As the growing trends of Blockchain technology adoption and ICO fundraising continue to catch the attention of fintech providers, more and more crypto-solutions are being devised to address a diverse range of traditional challenges.

Today, Finance Magnates learned that the decentralized crypto investment fund CrowdWiz is preparing to launch its Initial Coin Offering (ICO) ). It will take place in mid-September.

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CrowdWiz is powered by Krypton Software, the cryptocurrency offering of fintech software company TRADOLOGIC. The startup says that it is introducing a way to allow users to invest via crowdfunding, tapping what it calls “the wisdom of the crowd”, underpinned by a blockchain-based platform.

The service provides investors with crowdsourced portfolio management, allowing them to use their 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,” it says.

The amount that it is seeking seems uncapped 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. In addition, WIZs will have multiple uses, as tokens can be used to for investment, trading, insurance, lending, etc.

While there are several good reasons to use CrowdWiz, the beneficial prospects are said by the founders to be especially promising for the community as a whole in terms of controlling the pool of funding money.

The company explained the platform ecosystem: “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.”

Slavena Savcheva, co-founder and Head of Business Development & Marketing for CrowdWiz, added: “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.”