Crowd Machine is gearing up for their public crowd sale on April 1st. The private sale is ongoing with minimum participation of $100,000. Accredited investors only. Same holds true for the public sale for US investors – you must be accredited. But the FAQ appears to indicate anyone may purchase tokens after April 28th. The initial coin offering (ICO) will issue 2 million “CMCTs”. So what is the price of CMTCs? Well that is set by the market, according to the website.
So what exactly is Crowd Machine? Is it a fabled Filecoin killer?
Filecoin raised a rocking $200+ million on CoinList last year. The development team at Filecoin is hard at work building their blockchain based distributed computer system, according to a report in January. Crowd Machine apparently has tech that is already working, according to a company rep who told Crowdfund Insider;
“[Crowd Machine] has functional, monetized technology in place to move their vision forward … Their app building technology is already in use by Fortune 500 companies like GE … the Crowd Computer, a decentralized peer-to-peer computer network that will be used to run decentralized apps, has a planned release date of Q4 2018.”
That is kind of interesting.
Crowd Machine wants to take advantage of underused hardware and bandwidth and create a decentralized app development and hosting platform. Anyone can access in use, kind of like a Github like repo but built entirely on Blockchain. The company believes it can create a platform that is scalable and fast and global, of course.
So is Filecoin the target than? Not really. Big fat tech companies like Amazon (AWS), Google, IBM and Microsoft are the companies Crowd Machine wants to disrupt. And the market for cloud based services is huge. Today, public cloud infrastructure is expensive to build and costly to operate. Crowd Machine says it will be “infinitely scalable” and rather inexpensive to manage. Of course, infinite is limited to the number of computers that enlist but the ones that do sign up get paid for the usage by receiving CMCT coins that will be exchangeable into fiat or other digital currencies.
According to the White Paper, Crowd Machine demonstrated its chops with early adoption by big companies via Metavine. Release of Crowd Computer public beta is scheduled for May 2018. Release of Crowd Machine to open source takes place later in October.
Herbert Zhang, YouBi Capital’s Co-Chief Investment Officer, commented on Crowd Machine following the announcement of a “significant investment” in the ICO last week;
“Crowd Machine is building truly innovative blockchain development tools and a decentralised app ecosystem for the vertical integration of all blockchains. Crowd Machine is going to be one of the engines that drives the growth of decentralized applications this year. It is ahead of its competitors with a working product and paying customers … It will significantly lower the technical barriers to entry in blockchain so more developers can contribute to the blockchain ecosystem.”
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