CrowdWiz, a decentralized investment platform that uses crowd wisdom, has announced the start of an ICO for its WIZ token. The company has previously raised over $5 million in its public pre-sale, as well as released a demo of an alpha that shows how the platform will operate. Currently live, the ICO has a hard cap of $20 million. During the ICO, credit card payments will be enabled in an attempt to open up the world of cryptocurrencies, blockchain and ICOs to the masses.
In an effort to democratise the investment industry, CrowdWiz aims to reduce the power of financial institutions such as banks, funds and exchanges. Without these institutions, users could avoid high fees but still enjoy the protection provided by the regulatory system with the solution that CrowdWiz plans to provide.
In line with its attempts open up the investment world, CrowdWiz’s ICO will feature a credit card processing solution, meaning that participants can use credit cards to purchase tokens during the ICO, making it much more convenient for the average person to participate in and opening up the process to a greater number of people. CrowdWiz wants anyone to be able to invest in its ICO, regardless of how much or little they know about the crypto sphere.
The platform will be using the wisdom of the crowd to make investment decisions, following evidence that large enough groups tend to make surprisingly accurate decisions, and are often found to be more useful than individual experts. It will also avoid issues of traditional investment options such as high entrance costs, large fees, and little to no transparency. The Ethereum-based platform offers its users little to no fees and complete transparency on a platform safe from fraud. It will enable self-governance on a democratic investment platform with the ability to vote on and join smarter investments.
Trade on the platform will be processed via the WIZ token, which will enable token holders to fund, invest, vote, propose, open their own investment funds and decide the nature of the tradable goods within the ecosystem amongst other things.
Slavena Savcheva, Co-Founder and Head of Business Development & Marketing for CrowdWiz, commented: “The CrowdWiz ICO is officially live! After already raising over $5 million in its presale, we are all very excited to see how the ICO goes. I believe our inclusion of a credit card processing option truly shows that CrowdWiz is dedicated to fair and equal opportunities for all, especially when it comes to the investment world.”