As an EEA member, Crowdz is part of the EEA community of organizations working to advance Ethereum and drive industry adoption. In the Q&A below, the EEA interviewed Director of Payments Marc Meyer about how Crowdz is contributing to the ecosystem to help Ethereum reach its full potential.
Please introduce your company and yourself briefly.
Crowdz is a new kind of invoice financing platform committed to helping small and medium-sized businesses to speed up cash flow by procuring working capital to fund business growth. By connecting buyers and sellers of invoices, Crowdz eliminates the need to wait 30, 60, or even 90 days to receive a payment.
As for me, I have a background in engineering and have been working in strategy, innovation, and product development with a specialization in the payment industry. I am currently running the payment infrastructure at Crowdz and leading our DeFi project.
What first brought you to the EEA, and why did you decide to become a member?
We hold a strong belief that Ethereum will be the main platform in the global financial system and we want to be part of that effort. Our goal is to both help and inspire others with our ideas and learn from market leaders.
What are you currently working on with regards to Ethereum? How will end-users benefit from your work?
Crowdz currently runs on an Ethereum private node and uses it as a ledger for invoice transactions that occur on the platform. We are moving towards using NFTs (ERC-721) on the public chain to track invoices on the platform and conduct transactions.
We’re also building a tokenized invoice financing solution to draw more liquidity to the platform. In deploying this decentralized solution, our plan is to incorporate multiple aspects of Ethereum onto our platform: ERC-20 governance and reward tokens, stable coins, and the ERC-721 invoice NFTs.
Our core focus is helping businesses get paid faster, and our upcoming tokenized solution will help us to continue doing this.
Our main goal is to draw more liquidity by tapping into a new sector, becoming more efficient, and offering more utility to investors. As a result, investors will get good returns from the platform and more SMEs will be able to get access to the cash flow they need.
How will the EEA enhance your organization’s current efforts?
One thing we have noticed while doing this research is that there is a very strong DeFi community, and we are hoping that the EEA will help us design the right standards and achieve scale.
First, the potential exposure from EEA would significantly benefit the growth of our platform while also introducing customers and investors to new opportunities. Exposure to customers means more small businesses can improve their cash flow, and exposure to large investors means that there are more funds to actually facilitate the financing of invoices.
Second, we also want to learn and exchange ideas with other companies involved with Ethereum and DeFi. This industry moves very fast, so we want to be connected to as many people as we can to learn from their experiences and mistakes to improve our platform.
One aspect we have been working on with other organizations is creating a standard for receivables as NFTs for everyone to use. This is something we would potentially like to involve the EEA with, similar to how it has implemented the EEA global standards. In doing this, we hope to help the Ethereum community as a whole, driving the conversation and particularly convincing regulators and other financial players to adopt Ethereum-based solutions.
What EEA programs are you most excited about?
What excites us most about the member spotlight program is the opportunity to share more background of what we do, our platform, and our vision.
We are already working in partnership with some other blockchain and tokenomics experts in Europe and are looking forward to participating in EEA Interest Groups to further develop relationships and explore common topics that other companies are working on as well.
We are also planning to become an active member of the DeFi Interest Group to further the conversation around decentralized finance and Crowdz’s role in the larger ecosystem, as well as work with other companies as they prepare to make a large impact.
Finally, because the world of crypto and DeFi is constantly evolving, we know how important it is to keep up with the times, and various programs and connections that the EEA has in this space will help us develop our knowledge and improve our platform.
Learn More and Connect with the EEA
The EEA enables organizations to adopt and use Ethereum technology in their daily business operations. We empower the Ethereum ecosystem to develop new business opportunities, drive industry adoption, and learn and collaborate. Join us and contribute to our work!