Crafty ICO

Verified ICO

The current labor relations are not enough to promote happiness and trust between people, generating friction and, consequently, waste of resources. Information asymmetry is the

ICO Ended
2018-01-22 - 2018-03-13
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Team: NYR
Feasibility: NYR

Information asymmetry is the root of most of the waste of wealth, which is paid by all of us from the higher transaction costs and additional energy expenditure.To tackle these problems, we created the Crafty, which is the best tool for turning workers into skilled entrepreneurs professionals, fully informed, integrated and tuned into the market and allow the contractors know their best options to hire people genuinely evaluated and qualified, suitable for a specific task.

The social network provides confidence, blockchain provides transparency and augmented intelligence amplifies the possibility of better choices for the parties involved.Crafty is a platform that connects the various specialties service providers with their contractors, without charging any intermediation fee or centralized intervention.

Operationally is structured as a marketplace with several advantages:

● works in a market that, in Brazil (not to mention worldwide numbers), is officially evaluated over BRL 200 billion formal and at least twice such amount that acting informally (which means almost USD 200 billion in total)

;● the reorganization of the market to reduce its imperfections, especially with regard to intermediation, expanding the potential remuneration of the service provider, while enabling a reduction the cost of service;

● the proposal of democratizing access to the market by reducing the asymmetry of information from the spread of reputation value as “collective currency”;

● it’s totally free;

● users (network nodes) are remunerated, ensuring the circulation of generated tokens;

● scalability, as result of decentralization;

● the possibility to be worldwide applied.Crafties (CFTY) are tokens with several utilities in the system.

The adoption of such utilities was a primary consideration to lay the foundation for the success of the model.CFTY will be used as Exchange value (as a basic unit of exchange within the Crafty market), tool for promoting Engagement (enriching the user experience to promote engagement); Currency (an efficient method of payment, with very low transaction costs); Earnings (enabling an equitable redistribution of additional ecosystem values as well as the sharing of benefits).Crafty’s exclusive business model had the patent required in US and establishes the way in which the system analyzes the connection options for the development of a specific job, organizing them according to objective criteria that have as main decision vector, the fulfillment of the need with the lowest cost of transaction.How does the project create value to the ecosystem and differs from competing projects:Crafty is the first platform dedicated to the autonomous workers. The system is already working in its MVP version, called Diarissima, and will remain restricted to Brazil at this first stage.It must be considered that with almost 63% of the unregistered workers, this is the segment with the greater informality of the economy, as shown in a study by FGV/IBRE – a recent evolution of informality in Brazil.Considering a net operating revenue of BRL169 billion and a total wage amount of BRL39.4 billion, we can extrapolate such amounts to include the 63% of informal market, reaching the impressive amount of BRL 456.7 billion of net operating revenue at 2014 equivalent to BRL 535.7 billion in December 2017 values, if discounted de inflation of period.This is the potential market for services rendered to families in Brazil, with 4,7 million workers.

The increase in revenue would be around BRL 407 billion or an average of BRL 86.5 thousand per worker. This amount is still most important if we consider the low-income social stratum and, therefore, little marginal propensity to save, which contributes to increasing the circulation speed of the coin.Centralized processes are inefficient. Crafty decentralizes all operations, which promotes the empowerment of the parties, but also reduces the operating costs of the structure since there are no controls on transactions that occur under the platform, although registered.This is due to the fact that the back-office of the operation is and will continue to be very limited, restricting itself to any doubts or problems in the use of the application.The parties involved, workers or contractors, may access and use the platform for free to identify opportunities to provide and contract services from a qualified database.In a networked business model, we take to the digital world the personal relationships of hiring domestic services.

At Crafty, what really matters is trust between the parties, which is strengthened by increasing reputation after each engagement, through the evaluations of both parties, both the contractor and the supplier.As a result, our users have access to our reliable network of contracting and providing professional services.

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