Increasing need for clean energy has influenced the platform to choose solar panels and energy generation as its first initiative
Ethereum blockchain based peer-to-peer (P2P) investment platform, MyBit, has one week remaining before the closure of its initial coin offering (ICO), or token sale.
The platform is designed to connect investors to future-proof projects, including clean energy and Internet of Things (IoT).
The ICO will be open for investors and cryptocurrency members to become part of its initiative until 15 August 2017.
MyBit covers a range of future markets, and solar energy has been chosen as its first initiative. Through its initiative, MyBit is presently on a mission to accelerate the adoption of decentralised grid among the masses.
The decentralised grid system proposed by MyBit involves many microgrids – small, discrete energy systems with distributed energy sources and loads – capable of operating independently of central grids.
In addition to being self-sufficient, these microgrids can also sell excess energy to the central grid or on the open energy market. However, setting up one’s own microgrid at the moment is difficult due to increased cost inputs, a challenge which MyBit is solving by connecting those interested in implementing solar projects with investors who are willing to fund such revenue generating assets.
Smart contracts govern the tokenised investment process, and all investments made on the platform will go into the hardware itself and not the energy generated by the projects.
IoT also features prominently in its market range.
As the machine economy takes off, IoT devices will soon start generating revenues through the capabilities of its inbuilt sensors and microprocessors to capture data, communicate, and meter and control usage.
As they take up the position of prime revenue generators, MyBit seeks to help individuals and businesses to seamlessly adapt to the new technology with the support of investors, both individual and institutional. These investors on MyBit will be putting their money into these revenue-generating devices and gain a return on investment.
MyBit’s vision is to democratise the ownership of machines and its resulting revenue streams instead of letting them fall into the control of centralised financing institutions. The platform will be applicable to drones, self-driving cars, smart homes, autonomous machinery, 3D printers and more.
The token sale offers an opportunity for investors to purchase MyBit tokens (MyB). These tokens can be used to access various functionalities of the platform including registration and transfer of assets, and various financing features.
The holders of MyBit tokens also stand to receive real-time revenue distributions which are proportional to their stake. The MyB tokens can be used to invest in energy and artificial intelligence (AI) revenue generating assets, P2P trading, machine to machine payments, trading on open exchanges.
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