Home Ico Review CrowdPrecision ICO REVIEW : CrowdPrecision uses Ethereum-based smart contracts

CrowdPrecision ICO REVIEW : CrowdPrecision uses Ethereum-based smart contracts

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About CrowdPrecision 

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.

Basic Information

Token NameCrowdPrecision
Token SymbolCPT
Social MediaCrowdPrecision ICO REVIEW : CrowdPrecision uses Ethereum-based smart contractsCrowdPrecision ICO REVIEW : CrowdPrecision uses Ethereum-based smart contracts
Soft cap7,500 ETH (1,222,725 USD)
Hard cap30,000 ETH (4,890,900 USD)
Token for sale2,400,000,000 CPT
CountrySingapore
WhitepaperClick Here For View Whitepaper
WebsiteClick Here For Visit ICO Homepage

Approach

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.

Economic aspects

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.

Features

Challenges

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.

Architecture

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.

Payment

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.

Token cryptocurrency

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.

Benefits

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.

Video

Team

Member
Thomas Tran-Gia CO-FOUNDER & CEO
Leng Yaw-Owe CO-FOUNDER & BUSINESS MANAGER, ASIA-PACIFIC
Phuoc Tran-Gia CO-FOUNDER & HEAD OF FINANCE

Also Read – Click Here for Read All ICO Review

Quote This article is writing on 4 April 2019 based on information available online & news portal. If you feel it’s outdated or incorrect, please write here to update it. Mail us: support@coinworldstory.com Or Whatsapp Us- +13098896258

Disclaimer:

Not all the websites Whi listed in Top List are 100% safe to use or investment. We do not promote any of those. Due diligence is your own responsibility. You should never make an investment in an online program with money you aren’t prepared to lose. Make sure to research the website. So Please take care of your investments. and be on the safe site and avoid much losing online.

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