NEW YORK, NEW YORK
Crowdnext claims to be the first crowdsourcing venture capital firm to trade in cryptocurrency. Crowdnext’s edge is based on the Ethereum network’s smart contracts. Smart contracts are digital programs designed to transfer cryptocurrencies and digital keys in accordance with agreed-upon terms. For example, a transfer of funds in the blockchain can trigger the release of an access code. If terms and conditions are not met, refunds and/or penalties will automatically be exacted and access codes changed. There is no need for lawyers, notaries, processing, or other causes of administrative delay. With Crowdnext, investors can use cryptocurrency to purchase and register shares of stock in crowdsourcing companies. To make the process extra special, Crowdnext will soon hold an ICO for about $100 million of its own tokens, which will have the symbol CNX. CNX was developed by Crowdnext’s founder Srini Chakwal, who has been employed in the private equity and venture capital industries for 15 years, and Chris Ocansey, who has worked 15 years in technology development.