Mybit makes financing and maintaining revenue streams efficient and automatic.
By commoditizing solar panel installation and other forms of renewable energy, investors and landowners can crowdfund the coming decentralized energy grid. With Mybit, investors get security on their investment, while landowners get access to investors willing to help in exchange for profit. By standardizing and automating setup, sales, and dividends, Mybit takes you one step closer to an equitable economy.
Our 5 year goal is to be at the forefront of commoditizing the coming AI economy. Mybit will be the platform for tokenizing any automatable or machine infrastructure. And it will be owned by the crowd.
Why Decentralized Energy?
The explosion of Artificial Intelligence (AI) and the Internet of Things (IoT) will result in massive demand increases for energy. Traditional energy grids will not be able to scale rapidly enough to keep up with the demand. Decentralized energy grids, composed of renewable energy technologies such as solar panels that can be installed on homes and office buildings away from the traditional (centralized) energy production & storage facilities, will be a critical component of the solution to the increased energy demand.
Our goal is to remove the financial barriers to entry and the friction currently present in the alternative assets investment space; thereby, enabling anyone to benefit from sustainable infrastructure regardless of their socioeconomic status or location. Aside from energy this model can be replicated across many industries including Land, Commercial Property, and AI - specifically autonomous mobiles.
- Allows to register physical assets onto the Blockchain so they can be securely and easily managed - Smart Contract powered trusts will enable users to manage to whom ownership of their high-valued physical assets will be transferred in the event of death or other “trigger event” - MyBit Enterprise will provide companies with viable financing solutions through tokenized fractional assets - Revenue from service`s fees (Smart Contract Trusts and MyBit Enterprise monthly subscription) will be distributed proportionately to token holders based on their holdings
Ethereum TestNet Demo
Beta Release and Pilot
Attention. There is a risk that unverified members are not actually members of the team
$84 146 391
Opportunities:If this idea works, the upside can be tremendous because it can work on any revenue generating assets, not just renewable energy.If the amount of profits can be independently verified, then the asset can be included in the MyBit platform. You don’t need to rely on the asset owner reporting the data, which minimizes risks of fraud.MyBit has a large team of 15 in place already, which shows the commitment in the project and that the project is not created just to raise money from the ICO.The TestNet demo has been released. It is also open source so the tech savvy investors can check out the quality of the development.There are multiple ways to profit from the token, other than from the appreciation in token value:Token holders receive 1% of the transactions as fees.In addition, the tokens can be used to invest in assets and receive a portion of the profits while receiving the network fee.Therefore, you don’t need to rely on the project growing in value in order to make a profit. For example, the market cap can stay at the ICO level forever but if the network grows substantially, you can still make a lot of money from receiving the 1% network fee.The problem that MyBit is trying to solve genuinely benefits from a decentralized solution to lower costs and automate the process.Network effect is present. The more users and assets are on the platform, the more valuable the platform is.
Concerns:The project faces competition from centralized companies like Tesla where they will being to offer financing plans for their solar panel starting from late 2017.The white paper lacks detail on how to actually execute the business plan – finding partners, users, and so on.
Conclusion:Overall, I like this ICO for its short-term potential and am neutral for its long-term potential. Our thoughts of the tokens for short term and long term are as follows:For short-term holding:Good because of its relatively small market cap. The idea of working in the renewable energy and artificial intelligence space is appealing to potential investors.For long-term holding:Neutral because from the white paper, not too much details about executing the business plan are discussed. This makes it difficult to analyze whether the project is likely to be successful in the long run.
MyBit aims to democratize energy infrastructure with a broader plan to fuel the entire AI economy – something that will dominate the world economy within a few years. MyBit tokenizes revenue streams, bringing them into the hands of 99% of the population. It’s a democratization of revenue streams that were previously only available to banks and financial institutions. By democratizing access to revenue streams, MyBit makes it easier and more secure to fund large infrastructure projects. These infrastructure projects – like energy production solutions – can be scaled more quickly than ever before thanks to MyBit’s decentralized system. MyBit’s ICO is taking place throughout July. Keep up-to-date on more information about MyBit as the company continues to grow.
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