CrowdPrecision uses Ethereum-based smart contracts between employers and workers. By issuing CrowdPrecision Tokens (CPT), CrowdPrecision provides a complete ledger of a user’s Crowdsourcing history – whether as employer or worker – and makes it available across multiple Crowdsourcing platforms. Therefore, it features: (1) Transparent and straightforward display of a worker’s qualifications and diligence for an easy distinction between high and low quality workers; (2) Track record of a worker transferable across multiple Crowdsourcing marketplaces; (3) Facilitated identification of fair employers through their payout profile.
|Soft cap||7,500 ETH (1,222,725 USD)|
|Hard cap||30,000 ETH (4,890,900 USD)|
|Token for sale||2,400,000,000 CPT|
|Whitepaper||Click Here For View Whitepaper|
|Website||Click Here For Visit ICO Homepage|
One approach to access this labor force consisting global Internet users is Crowdsourcing. Instead of delegating large tasks to dedicated employees, the work is broken down into smaller jobs that can be accomplished independently and are distributed via marketplaces to a large number of online workers. On the one hand, the parallelization leads to a much faster achievement the tasks. On the other hand, the approach helps to reduce the overall labor costs due to inclusion of global workers of different salary expectations. Additionally, further facilitates the flexible scaling of human crowd resources based on current demands, similar to technical cloud infrastructures.
Besides economic aspects, Crowdsourcing also offers a great opportunity for individuals from developing countries, as it introduces channels for safe and well-paid online labor. With new possibilities for increasing productivity and redefining ways by which businesses carry out projects, Crowdsourcing is already successfully applied in various fields of traditional work, including text production, logo design, programming, and even research and development tasks. Furthermore, it also makes possible the cost-efficient and timely completion of vast numbers of so-called microtasks, which non-expert crowdworkers can complete within a few minutes.
More precisely, CrowdPrecision tackles two of the most significant challenges in current Crowdsourcing applications -quality control the work submitted and fast and cost-effective payment mechanisms. Due to the large number and the anonymity of the huge group of Crowdsourcing workers, it is often difficult to identify the skill set of individual workers and to track down workers with deliberately malicious behavior, a factor which often leads to a great waste of time and money by all parties involved.
Most Crowdsourcing platforms maintain their own workforce and give employers access to these workers through their own interfaces illustrated [[REF Figure Classic CS Structure]]. This results in numerous restrictions for both workers and employers. Workers registered on multiple platforms inconveniently have to maintain different work records on each platform.There are no ways to link these records across different providers to produce a unified profile. As a result, even experienced workers have to undergo qualification tests for a second or third etc. time when registering on a new platform and, therefore, have to rebuild their reputation from scratch.
In current Crowdsourcing systems, processing of task payments represents a significant source of inefficiency. New financial services such as micropayment services, e.g. PayPal, were initial payment options for Crowdsourcing and especially microtasking, as they charge significantly lower fees for processing payments than wire transfers. However, fees for transferring money across country borders remain high, and even micropayment systems often rely on tra- 12 © 2018 – CrowdPrecision traditional bank accounts that run in the background, thereby excluding people without access them. Moreover,due to governmental restrictions, current Crowdsourcing systems also often incorporate sophisticated security systems to prevent money laundering.
With the use of the CP Token cryptocurrency in CrowdPrecision, these issues can easily be overcome: Firstly, the fees for Ethereum-based transactions are low and country-independent. Secondly, no additional bank or service account is needed to receive or issue transactions. This opens up the micro-tasking labor market of CrowdPrecision to a vast number of potential workers in developing countries and it helps to increase the workers’ rewards by decreasing overhead costs of the employers and platforms. Lastly, the payout system of CrowdPrecision uses well-established cryptocurrency market places and exchanges with the highest security and regulatory standards.
Crowdsourcing has become established in recent years and is widely used by a lot of companies in an efficient way. It gives workers access to the global labor market, no matter where in the world they live. It is therefore not surprising that platforms like Microworkers.com have gained considerable popularity in recent years. In order to make interoperability possible, it is important to provide a set of APIs for different business models. Blockchain Technology can help to enrich the functionality of existing platforms by establishing interoperability with a joint token.
Thomas Tran-Gia CO-FOUNDER & CEO
Leng Yaw-Owe CO-FOUNDER & BUSINESS MANAGER, ASIA-PACIFIC
Phuoc Tran-Gia CO-FOUNDER & HEAD OF FINANCE
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