Founded past times cryptocurrency together with blockchain junkie Ian Worrall, MyBit is a platform created to allow pocket-size stake investors a agency to invest inwards large scale investments. Worrall knew that the side past times side stage inwards economical evolution would endure the coming creation of a car economic scheme where revenue would come upward from ‘connected’ machines. (In fact, he’s late predicted that 100s of billions of dollars volition menstruation into the car economic scheme inwards the side past times side v years.)
As he surveyed the tech landscape, he realized that the machines inwards the coming economic scheme would endure huge revenue generators. They would propel substantial amounts of industry, together with the investors who owned them stood to brand about remarkable profits.
He knew that small-time investors couldn’t afford to participate inwards the novel economic scheme because of the cost of these machines, together with were exactly pawns inwards the greater fiscal game. He determined to detect a agency to puddle the resources of many dissimilar investors inwards monastic nation to practise a shared investment, where the profits could endure returned to the investors.
Blockchain is the Solution
The solution to the decentralized investment scheme that Worral conceived of is blockchain technology. He saw the potential for blockchain applied scientific discipline to reshape the agency investors worked together, where a platform could supervene upon the profiteering corporate hubs that ran the investment world.
He discovered Ethereum, the blockchain based platform that would aid him realize his dream. The organization allows for peer to peer networks where investors tin effectively puddle their resources inwards monastic nation to purchase large-scale investments. Rather than coming upward amongst the entire purchase toll themselves, they would endure able to exactly invest what they could, together with other investors would come upward together to practise a unmarried decentralized buyer puddle for the asset.
Ethereum also provides a minute characteristic that is essential to the MyBit platform – the smart contract. With smart contracts, Worrall realized that investors would endure able to have the profits from their investment inwards near-real fourth dimension rather than waiting for corporate fund managers to guide maintain their cutting together with distribute the residue in i lawsuit or twice a year. The car economic scheme could generate a constant menstruation of passive income for investors at whatever degree of exposure they chose to endure at.
What’s fifty-fifty to a greater extent than astonishing is that the network that provides this variety of uncomplicated purpose representative is also completely transparent together with then that all transactions tin endure verified at whatever time. Any user tin endure certainly that his or her investment is existence managed correctly, making the whole platform security together with secure.
Gaining Momentum
As the companionship continued to grow together with gain adherents, it became clear that the best agency forwards was to starting fourth dimension an ICO – an initial money offering (think digital crowd funding) – inwards monastic nation to enhance funds to practise the platform that would brand all this posible.
The ICO started July 17th of this year, concluded August 17th, together with was a huge success. The marketplace for the MyBit platform brought investors inwards large numbers. The ICO raised roughly $2.7 i K m dollars, or 10,044 ETH, minting over 2.8 i K m MyB tokens.
The Way Forward
Work has already begun on developing the mainstream together with user friendly application that volition command access to the portal. The socioeconomic impacts of such a organization volition undoubtedly endure embraced every bit the car economic scheme begins to guide maintain concur of modern society.
Elon Musk late warned that the revolution inwards car control brought nearly through Artificial Intelligence volition hap real very quickly. As revenue generating machines start to practise streams of income, the former maxim that ‘the rich teach richer’ volition drib dead painfully apparent.
However, amongst MyBit inwards place, pocket-size to average scale investors volition endure able to participate inwards this novel economic scheme of assets together with turn a profit from them. And because the entire organization is built on a decentralized blockchain, in that location volition endure no corporate construction to strip profits from the investors who are risking their money.
In the coming months, the platform volition drib dead live, together with the chance for investment volition begin. Everything from 3D printers to solar micro-grids together with investment properties volition endure ‘tokenized’ together with made available for investment. Savvy investors volition arrive on the the world flooring every bit the companionship volition inevitably grow every bit rapidly every bit the car economic scheme does.
