MyBit Review – Cryptocurrency Guide
MyBit is a platform for tokenizing income streams. The platform guarantees to make financing and maintaining income streams effective and programmed. Here’s our MyBit review.
What Is MyBit?
MyBit is a remarkable blockchain platform that allows for the tokenization of income streams. The platform is presently going through its ICO.
The goal of MyBit is to make the financing and maintenance of income streams proficient and programmed. It allows little investors to get to new income streams that were already just available to banks and investment funds. With MyBit, anybody can invest or bring capital from anyplace up on the planet using a distributed, consistent, quick, and secure payment framework.
The sun powered industry is one of the first industries that MyBit intends to handle. MyBit means to commoditize sun based board installation and different types of sustainable power source. This allows investors and landowners to crowdfund the decentralized, upcoming energy lattice without bounds.
Investors can get security on their investments, while landowners gain admittance to investors willing to help in exchange for benefit. MyBit plans to institutionalize and robotize the setup, sales, and profits procedure to make us one stride more like a fair economy.
By and large, MyBit is an innovative resource administration framework based on the Ethereum blockchain. It guarantees to make it less demanding to invest in sustainable infrastructure, hence promoting the development of sustainable infrastructure around the globe – paying little mind to the high forthright expenses.
What Are The Advantages Of Decentralized Energy?
For what reason do we have to introduce decentralized blockchain technology to the universe of energy generation?
The makers of MyBit trust that the present energy structure isn’t sustainable. It can’t be scaled at speed. The most ideal approach to make it more adaptable is to make a decentralized energy arrangement.
However, customary financing models just allow a little bit of the populace to possess and partake in the decentralized energy arrangements. MyBit needs to make an answer where everybody can take an interest. MyBit needs to commoditize decentralized energy infrastructure and make it available to 99% of the populace.
A portion of the advantages include:
A littler financial boundary to passage because of crowdsourcing, which allows for the buy of decentralized matrices in exchange for per-utilization income sharing
Quicker access to capital than customary financing mechanisms like bank loans and other obligation instruments
Highly versatile and sustainable energy model
The measure of energy expected to power AI machinery today would surpass the aggregate limit of present day power frameworks. That is the reason we have to democratize energy infrastructure in a decentralized framework like the one proposed by MyBit.
How Does MyBit Work?
MyBit depends on the four following ideas:
The present current energy structure isn’t sustainable
The world will require decentralized energy arrangements within the following couple of years
MyBit offers decentralized financing through smart contract swarm funding
It’s a sustainable and versatile energy arrangement worked for the cutting edge economy
By and large, MyBit is a benefit administration platform that allows for the safe administration of possession using a decentralized, “golden source” ledger. It evacuates a single point of disappointment chance while likewise removing the requirement for outsider escrow operators.
MyBit depends on the Ethereum blockchain, and cases to be the first DApp that genuinely overcomes any issues between the physical and advanced realms while allowing investors to take part in income distributions.
The future for MyBit reaches out a long ways past sun based energy: a definitive goal of the project is to use blockchain-based tokens to make another advantage class that allows for investments in income generating resources. To begin, the company is focusing on the decentralized energy and independent mobile segments.
Using Ethereum’s blockchain and smart contract technology, MyBit guarantees to make sustainable infrastructure less demanding to invest in safely, realize benefits, and actualize arrangements into emerging ecosystems.
All transactions that happen on the MyBit decentralized platform will be surveyed a 1% network expense. That charge is distributed to token holders dependent on their percent stake.
Tokens will be used to pay for the following sorts of transactions:
Investing in energy, AI infrastructure, and other income generating resources
Funding and income sharing
Shared trading (buying and selling) of decentralized energy
Machine to machine payments
Trading on open exchanges
MyBit was propelled onto the internet in May 2017. The company is driven by Ian Worrall (Founder), Garrett McDonald (Blockchain Design and Marketing Strategy), Thomas Pollan (Business Development and Partnerships), and Pedro Barros (Engineer).
Within 5 years, the company wants to position itself at the bleeding edge of the coming AI economy. As the MyBit site explains,
“MyBit will be the platform for tokenizing any automatable or machine infrastructure. Also, it will be claimed by the group.”
The company considered the thought in November 2016. In February 2017, they distributed their whitepaper. The Ethereum-based testnet propelled in June, with crowdfunding taking spot all through July. By January 2018, the company wants to dispatch its beta release and pilot.
MyBit is incorporated in Switzerland.
The Problem and Solution
With the ascent of the machine economy, MyBit’s vision is to have machines claimed by individuals everywhere throughout the world, instead of brought together gatherings maintaining possession and the resulting income streams. According to the whitepaper, MyBit uses Ethereum’s blockchain and smart contract usefulness to empower decentralized crowdfunding and income sharing for infrastructure that is as of now generating income. This empowers energy infrastructure to scale as expected to stay aware of growing interest.
MyBit needs to crowdfund responsibility for boards, 3D printers, rambles, cryptocurrency ATMs, self-driving autos, and mechanized machinery for business uses like farming and construction. MyBit sees huge open doors in the decentralization of utility resources in Europe and notes that sun powered energy is the quickest developing part within renewables.
Today, most sun powered power is delivered by substantial scale sunlight based homesteads consisting of thousands of PV sun oriented boards. These ranches are fundamentally possessed and worked by regions as well as huge service organizations. MyBit predicts in three to five years, the greater part of new sun oriented power will originate from miniaturized scale or nanogrids, little sunlight based power frameworks sitting on private and business housetops, possessed by dynamic “prosumers” (makers and consumers) who adapt their space to gain dynamic independence from the lattice and make income streams.
Sun powered boards can be costly for private customers, with expenses up to $20,000, but MyBit originator Ian Worrall trusts the expense of sun powered boards will drop over the coming years, making these benefits more open to consumers. At lower costs, the units will create higher profits for invested capital.
The MyBit token sale started July 17, 2017, and was required to keep running for 30 days or until the point when funding limits are accomplished, whichever starts things out. The goal of the crowdsale is to anchor funding to finalize the development of the MyBit Platform, lead pilot thinks about, and bring the item to market. MyBit had raised 9446.53 ETH or $2.7 million US, with 1,592 supporters by Sept. 29, 2017. The aggregate for the ICO is $5 million, generously lower than other token sales, according to MyBit organizer Ian Worrall in a YouTube interview found here. “The $5 million is more than what we have to bring this to market, to develop this, to get users,” Worrall states.
All transactions on the MyBit platform are surveyed a 1 percent network expense which is distributed to token holders dependent on their percent stake. Token holders can likewise profit by investing in resources that create an arrival on investment. “With different income streams and our fundraising top so low, we don’t perceive any reason why this token couldn’t go up realistically 50 to 100 times. That sounds like an insane number, but if we do this right, we are hitting a major market,” Worrall notes.
MyBit has a team of 15 – not every one of them are on a full-time premise but it is still good to see a project with something beyond the prime supporters.
Ian Worrall, Founder – involved full-time in the Blockchain industry since mid 2013 when he started a mining activity. Since at that point, he has dealt with a company that manufactures custom programming for different organizations.
Thomas Pollan, Business Development and Partnerships – more than 30 years of business consulting and business start-up understanding. His past jobs include Senior Director, Client Principal with Hewlett Packard Enterprise, Senior Partner with Accenture, and originator and President of Pollan Enterprises, a holding company for new companies.
MyBit likewise bands together with other company for the ICO. Overcome New Coin is managing the escrow release plan. Pacatum is helping them on the development side.
How To buy MyBit Token?
While reading this review, you must be wondering about how to buy MyBit Token. Well, the process is quite simple and this section will help you to know how to buy MyBit Token. First of all, you will need to find exchanges where you will be able to buy MyBit Token. At the moment, you can make use of HitBTC, IDEX, Bancor Network and LaToken to buy MyBit Token.
MyBit means to democratize energy infrastructure with a more extensive plan to fuel the whole AI economy – something that will dominate the world economy within a couple of years. MyBit tokenizes income streams, bringing them under the control of 99% of the populace. It’s a democratization of income streams that were beforehand just available to banks and financial institutions.
By democratizing access to income streams, MyBit makes it simpler and more secure to fund substantial infrastructure projects. These infrastructure projects – like energy creation arrangements – can be scaled more rapidly than any other time in recent memory on account of MyBit’s decentralized framework.