CrowdPrecision is the innovative new platform for crowdsourcing services that use the power of blockchain technology and decentralization for faster, secure and more efficient crowdsourcing services. The platform is all set to launch their pre-sale ITS in the month of July this year and the official date is yet to be announced. A total of 4,500,000,000 CPT (CrowdPrecision Token) will be created out of which 3,150,000,000 CPT will be available through the crowd sale. CrowdPrecision extracts and builds quality crowds to perform special microtasks such as tagging, surveys, geo-based tasks etc.
CrowdPrecision will have a number of advantages over the conventional crowdsourcing platforms. Using the blockchain technology, backed by the internal CP token will reduce costs, eliminate currency exchange losses and open the crowdsourcing platform for unbanked people. It is powered by Ethereum Smart Contracts that ensures the security of the users. The platform combines the best of both decentralized and centralized worlds which means, the administrative functions are assumed by smart contracts and admins who help to resolve disputed when in case of any conflicts.
CrowdPrecision overcomes two of the major challenges in the traditional crowdsourcing platforms that is, quality control of the work submitted as well as fast and cost-effective payment mechanisms. These platforms often need to employ additional staff and develop algorithms to support employers in designing their quality control measures and to maintain worker’s profile. CrowdPrecision, on the other hand, uses Ethereum based smart contracts between employers and workers to provide a complete ledger of the user’s crowdsourcing history, whether as an employer or worker. It encourages transparency by clearly displaying the worker’s qualifications and diligence for easily identifying high and low-quality workers. The track record of a worker is also transferable across multiple crowdsourcing marketplaces. The workers can also identify fair employers through their payout profile.
Using the CP token, CrowdPrecision builds a trust-based marketplace which reduces the overhead costs of quality control mechanisms and qualification tests for faster processing. Furthermore, unlike the classic payment methods using credit cards deposits or bank transfers, the use of CPT offers additional benefits like reduced fees and overhead costs due to direct peer-to-peer transactions and a higher level of security as the token-to-currency exchange is provided by dedicated external platforms.
CrowdPrecision is cooperating with microWorkers.com, a large crowdsourcing platform with over 1.1 million registered users processing over 9000 tasks per day. The users can earn CP tokens by performing micro-tasks such as QA testing, surveys, usability testing, and image categorizing. CrowdPrecision’s trust score is an entropy-based measure of a worker’s quality and diligence. More information about the platform and the upcoming Initial Token Sale can be found at crowdprecision.io.
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