iCrowdU created the CrowdToken

iCrowdU created the CrowdToken to enable its business model, Consolidated CrowdFunding.
Consolidated CrowdFunding gives people access to money from the crowd via a consolidation of any of the following products:

CrowdLending = Lending money to individuals or businesses
CrowdInvestment = Investing in businesses
CrowdRoyalty = Purchasing a percentage of future revenues in businesses
CrowdDonation = Donating money to businesses or projects
CrowdPreSale = Purchasing (to be produced) products from businesses at a discounted price.

To make monetary transactions secure, iCrowdU bases Consolidated CrowdFunding on a blockchain. Blockchains are not only useful for cryptocurrencies such as Bitcoin and Ethereum, they have a very broad and versatile use, which will make them the basis of the internet of the future.

Blockchains use special applications, known as decentralized applications (dApps). What makes such an application decentralized, is that it is not controlled from one central location or by one institution. A decentralized app is powered by many users globally and independent of each other.

iCrowdU is designing dApps for Consolidated CrowdFunding. Two examples of such dApps are those for CrowdLending and CrowdInvestment. In CrowdLending, a person may receive a loan consisting of many small loans from numerous people. These loans will all be transacted in iCrowdU’s own cryptocurrency – the CrowdToken.

The CrowdToken is the exclusive unit of exchange for Consolidated CrowdFunding. No matter where in the world funds are being transacted from or to: All will occur with the CrowdToken. This will remove transaction costs, transaction times, exchange rates and banking fees. Instead, the CrowdToken will add transparency and security, as all middlemen will be removed – no centralized institution is required to control the processes.

Upon completion of transactions in the iCrowdU ecosystem, the CrowdToken will be exchangeable for other currencies.

Another aspect of Consolidated CrowdFunding is CrowdInvestment, which shows the full versatility of the CrowdToken. Using the CrowdToken, businesses will be able to tokenize their share capital. This means, instead of selling physical shares in their business, they will be able to sell tokens which are representative of shares. Especially for private companies, this holds great benefits. Businesses will be able to easily keep track of who holds the shares, and investors will have liquidity, as they will be able to trade the shares far more easily. This model has the scalability to disrupt stock exchanges around the world – all powered by the CrowdToken.

iCrowdU will earn fees from all transactions on the iCrowdU platform, this includes Consolidated CrowdFunding and the CrowdMarket. The CrowdMarket is the place where, following the funding phase, projects and businesses can make direct sales of their products and services, or grow their customer base through a CrowdPromotion.
The CrowdMarket will be the first phase of iCrowdU to go live and will offer users the chance to get great discounts on products through utilizing the CrowdToken. Initially, for every CrowdToken exchanged in a purchase, a 1% discount will be enabled, this will be applicable up to a maximum 15% discount per purchase.