The offering is seeking to raise 1 million Swiss Francs (US$1.01 million). Investors can buy into the company with a minimum investment of 200 CHF ($202.50). Unlike initial coin offerings that mostly aren’t formally linked to securities, however, Project Crowd is referring to the tokens as shares, though they’re issued as a token and managed on blockchain technology.
The company said it’s developing a platform that will “address and resolve several of the fundamental issues affecting employers, recruiters and freelancers with the development of the ‘Prowd platform.” The platform uses an automated AI matching engine to connect employers and freelancers, recording data on the blockchain to eliminate fraud and speed up the onboarding and payment process, the company said.
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