Liechtenstein-based Project Crowd is launching the first Security Token Offering (STO) on Own AG’s tokenization platform: The freelancer platform Prowd will be open for investments from tomorrow onwards. The public sale will launch in mid-October.
Prowd is a recruiting platform that connects freelancers and recruiters to enable a smoother hiring process. The company expects freelancers to make up half of the workforce by 2025. Yet still, recruitment options for freelancers are slow, unreliable and expensive, says Prowd.
Indeed, most current freelancer platforms charge high fees, are full of spams, and work processes are rather painful. Prowd has set out to solve these issues by combining artificial intelligence, machine learning, and blockchain technology. “Our platform works for freelancers and employers, instead of giving them more work to do,” says Prowd.
The AI-module matches freelancers’ and employers’ professional backgrounds, personality profiles, and cultural fit factors to create an ideal team. As the platform is blockchain-based, users have full access control and ownership of their data. CV data, qualifications, assignments, and milestones are recorded on a blockchain and jobs are being managed via smart contracts. This way, Prowd wants to eliminate fraud risk and speed up onboarding and payment processes.
The offering will be available via Own’s digital investment platform
The STO will take place in two phases: Starting on 24th September, Prowd will invite several selected private investors to participate in the offering. The second phase will start in mid-October when the token sale becomes available for all registered members of Own AG’s investor platform.
Investors who want to participate in the public sale need to register on the platform and fill in an investor profile which will be used to perform all required AML and KYC checks. Upon completion, the user will be an approved member of Own’s investor platform and can participate in the offering.
Own is also part of Liechtenstein’s STO-Alliance
Own offers a blockchain-based financial asset tokenization platform. The company was previously called Chainium, but has chosen a new name as part of a rebranding campaign. The goal of the company is to simplify digital equity offerings by providing an online dashboard that investors an issuers can use to coordinate everything from issuance to engagement.
Own is also a member of STO-Alliance, a cooperation of the five Liechtenstein-based service providers Nägele Law, Actus AG, AREVA, AUDINA – and Own AG, all specialized in blockchain services. STO-alliance supports STO issuers with all aspects of an STO, including legal advice, KYC and AML requirements, incorporation services, and financial services. The cooperation offers an end-to-end solution for STOs that prepares businesses for an offering within ten weeks.
Own is now counting down to Project Crowd’s STO. The idea behind the platform is solid and could certainly attract a lot of attention.