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Author Topic: [ANN] MyBit ✦Unlocking Billions in IoT Revenue✦  (Read 30868 times)
DApptothefuture
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February 20, 2017, 08:03:22 PM
 #1


Unlocking Billions in IoT Revenue
TokenSale July  17, 2017 to August 15, 2017


Introduction

MyBit enables the crowdfunding of revenue generating machines (IoT Assets).  So anyone can buy a percentage stake in a device that generates revenue and in return receive a portion of revenue the machine produces.  This inverts the financing model and revenue flow to create a more scalable and democratic model which unlocks hundreds of billions of dollars in investment opportunities previously reserved for large centralized institutions to the average person.  All of this is managed by Ethereum smart contracts to automate processes, maintain security without the need for middlemen, brokers, and other forms of intermediaries, and reduce friction in the overall p2p investment process.  This result is a new investment ecosystem where more opportunities are available and investors can keep a larger portion of their money due to leveraging technological efficiencies.

How does it work? We often here the term decentralized ownership.  What MyBit does is enable ownership of a specific IoT asset to be easily distributed among several owners (investors).  With the rise of the upcoming machine economy, our vision is to have machines owned by people all over the world, rather than centralized parties maintaining ownership and the resulting revenue streams.

Let’s look at an example. Alice wants solar panels that cost $20k and only has $5k to allocate towards them.  Traditionally she would have to go to a lending institutions (bank) and apply for a debt-based instrument (loan) which results in the bank actually owning the solar panels and Alice owing the bank.  Since solar panels generate revenue, there is no need for debt-instruments since investors can profit from this opportunity without Alice having to owe any third-party (financially).  Instead, Alice can crowdfund the remaining 75% (or $15,000) from investors all over the world.  If the full amount needed ($20k) is not raised in the set time-interval (typically 30 days) then all funds are returned via the smart contract to investors.  If the funding goal is reached then the raised capital is automatically sent to the hardware installer/manufacturer which eliminates the risk of Alice misusing the funds.  Once installed, the Solar panels are connected to the MyBit platform via an oracle that pulls usage and payment data from the hardware so everything is transparent and can easily be tracked and audited by investors and third-parties.  When the solar panels generate revenue (in this case feed-in tariffs or selling back to the grid) investors receive a portion of the profits proportionate to their ownership stake.  Operational and maintainence costs can either be priced into the initial funding target or be deducted from revenue as a percentage.

Use Cases (Additional Verticals)

This can be applied to: All of the following use cases involve partnering with an IoT hardware provider to integrate MyBit which prevents our open-source application from being successfully cloned and brought to market under a different brand.  

Renewable Energy – To accelerate adoption of the decentralized energy grid, land and homeowners can crowdfund ownership of the solar panels.  Investors in return receive profit sharing from feed-in tariffs and excess energy production sold back to the grid (or p2p in the future).  

Smart Property – Smart Locks can be installed on existing brick and mortar properties or be integrated into the design of new properties so govern rent/lease payment.  If payment is not made, then the space is locked and only the owners who control the other keys can open it until payment is made.  This enables property both commercial and residential to be crowdfunded and revenue to automatically be distributed to investors without a third-party payment processing/management company involved.

3d Printers – We envision 3d printers to become widespread over the next decade throughout malls, shops, and other venues.  Under the 3d-printing as a service model, investors can crowdfund these assets and be paid on a per usage basis.

Drones – Drones will have a major role in many commercial use cases, but we believe delivery and transport of goods will be one of the core areas that will come to market first.  People will be able to purchase stakes in these delivery drones and upon completion of each delivery they will receive revenue sharing.  As different models for monetizing drones take shape, MyBit will be flexible to integrate into any that are economical for the network.

Cryptocurrency ATMs – To stimulate the widespread adoption of cryptocurrencies, ease of access is a core component.  By crowdfunding ATM ownership it enables exponentially more units to be installed and operational across the globe.  Investors will make money off of the spread and usage fees for transacting.

Self-Driving Vehicles (Consumer) – Self-driving cars are going to displace a lot of jobs.  We find it vital that the average person has the option to partake in the ownership and revenue sharing of these vehicles instead of centralized financing institutions controlling every aspect.

Automated Machinery (Commercial) – Farming machinery, construction, delivery, etc. can all leverage MyBit.  It is beneficial to companies that want to upgrade machinery and infrastructure to utilize MyBit to reduce costs to enter into this market.  Simultaneously, it unlocks billions of dollars in stable investment opportunities to investors.

Smart Homes IoT Devices / Machine as a Service (Business Model) – This will definitely take time to implement, but we at MyBit predict a disruptive transformation into micro-economies and vast adoption of micro-payments.  In this scenario, the financing model is turned upside down.  Instead of purchasing a device to use limitlessly (traditional – how it is now for the most part) , devices will be free to the consumer (crowdfunded by investors), and they will pay per usage.  A major barrier to entry with this is insurance and accountability for assets.

Profitability

See section 3 of the white paper whitepaper https://mybit.io/docs/MyBit_Whitepaper_v0.13.pdf

Roadmap



Team


Media



Blog

https://medium.com/@MyBit_Blog
Utility of the MyBit Token: https://medium.com/@MyBit_Blog/utility-of-the-mybit-token-9335903966a2
MyBit Stives to bring Blockchain Mainstream: https://medium.com/@MyBit_Blog/mybit-strives-to-bring-blockchain-mainstream-1af9a92701c1
MyBit and Blockchain Identity Management: https://medium.com/@MyBit_Blog/mybit-and-blockchain-identity-management-e44e277c71cd
MyBit Use Case: Smart Real Estate: https://medium.com/@MyBit_Blog/mybit-use-case-smart-real-estate-c673d2c3c7c5
Unlocking IoT Revenue with Ethereum: https://medium.com/@MyBit_Blog/mybit-unlocking-iot-revenue-c48ac139803b
Next Generation Energy: https://medium.com/@MyBit_Blog/next-generation-energy-how-mybit-aims-to-accelerate-the-microgrid-revolution-34c797593ed7
Web3.0 Meets Energy: https://medium.com/@MyBit_Blog/web-3-0-meets-energy-76dcbef5bf89


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February 20, 2017, 08:04:59 PM
 #2

Indonesian translation reserved


 
 
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DApptothefuture
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February 20, 2017, 08:06:43 PM
 #3

Hello Everyone!

As our team prepares for the ICO launch we are looking for initial feedback and questions.  Please ask away!

Few other things:
1) More details will be released regarding the ICO in the upcoming days.
2) If you are interested in a translation bounty please pm.
3) Anyone have the faintest idea why images are only displaying the hosted url? I've tried a few different hosting services, sizes, and formats.
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February 20, 2017, 08:09:38 PM
 #4

Quoting it for you to show images. Interesting project will keep an eye on it. Good luck with the ICO.


A Decentralized Asset Management Platform built on Ethereum

ICO Portal: Please register on our website


What is MyBit?

MyBit is a decentralized asset management platform designed to add an ownership layer to the internet.  Our goal is to change how ownership is recorded to make the process of registration, transferring, and querying both cost-effective and fast.  By utilizing Blockchain technologies in our core application stack it creates a unique opportunity for managing assets and ownership which is more secure, efficient, and reliable than any other solution for digitalizing assets and ownership.  Similar to how the internet streamlined and secured the transfer of information (communication technologies), Blockchain enables for asset ownership (and transfer) & core business functions.  The Blockchain is often heralded as the world’s first internet-scale open platform for value-exchange.  By utilizing a decentralized model, a single point of failure risk is removed.  Data is governed and maintained by network participants (nodes) and all data is fully replicated across all network peers.  Also, Democratic principles are ingrained in the core (code) of the platform providing all participants with a voice regarding the future of the application.  This results in innovation at the foundational level. 

Phase 1 (Facilitating p2p transactions and securing personal assets)
The phase 1 release facilitates the process of registering physical assets onto the Blockchain so they can securely and easily be managed from one location.  Then MyBit extends that technology by offering Smart Contract powered trusts.  These virtual trust funds 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.”  This greatly reduces the cost and complexity of setting up trusts to distribute one’s assets.


Phase 2 (Enabling both financing and revenue streams for AI)
The phase 2 release focuses on the emerging AI market.  AI is going to take a lot of jobs away from people and cost companies a large amount of capital to upgrade their systems and acquire expensive AI hardware. MyBit Enterprise is a solution for capital light companies that will need to invest large amounts into AI infrastructure and people whose jobs will be replaced by AI who still need a viable method to generate income.  The platform provides companies with viable financing solutions through tokenized fractional assets, enables new methods of income generation for the average person; and strives towards sustainability by managing this vast amount of data and activity with minimal resource consumption.


More information can be found on our Website: http://www.mybit.io

Our Story

We set off to develop MyBit because we saw many inefficiencies in current systems that could be resolved with a decentralized blockchain solution.  It all started with p2p commerce.  We could not get over how annoying it was to have to manually keep records and write up basic contracts that included the names of participating buyers/sellers, asset identification numbers (such as VIN of a car, drone, etc.), date of transaction, value, and so on.  We believed this was something that needed to be made much simpler and easier for people to streamline p2p transactions.

Then we identified the need to extend this functionality to manage the assets due to how expensive and inefficient the current model for governing Trusts and Wills is.  Why pay exorbitant fees and spend countless hours with lawyers to govern your assets when the clearly defined terms can be executed by irrefutable computer code that is guaranteed to execute exactly as programmed without reliance on a third-party prone to human error?

The Enterprise release is phase 2 of the platform and the idea came to be when one of MyBit's founders, Ian, was visiting Trent from BigchainDB in Berlin and heard him say AI DAOs no less than 100 times over the course of just a few days.  The elimination of human jobs as AI systems come to market has disruptive (not in a good way) impact on the average worker and companies alike.  We quickly identified Blockchain as a sustainable socioeconomic solution that gave companies a viable financing option and the average person a way to still generate income to supplement their replaced job.


ICO Details

Will be announced soon

Token and Profit Sharing Model

Registering and transferring assets will incur a cost of 1 MyBit Token (0.01 ETH).  This fee will cover the Ether/Gas required to interact with the network.  Any excess will be distributed proportionately to token holders based on their holdings.

Smart Contract Trusts will incur a small monthly subscription cost to maintain.  This residual revenue will be distributed proportionately to token holders based on their holdings.


Funds Allocation

  • 10% Legal and Compliance
  • 50% Salaries, Expenses, Rewards
  • 15% Marketing
  • 5%   Crowdsale Expenses
  • 20% Reserves for Unexpected Expenses and/or Delayed Monetization

Participation
Anyone can participate during the crowdsale from March 1, 2017 to April 14, 2017.  To join, please register an account on http://www.mybit.io.  Currencies that will be accepted include BTC, ETH, ETC, Monero, Dash, and more to be added.

Token Distribution

  • 10% to Founders
  • 20% to Foundation
  • 70% to ICO Participants

Roadmap / Product Releases




Get Social (Official Links)

Linkedin: https://www.linkedin.com/company/mybit?trk=biz-companies-cym

Facebook: https://www.facebook.com/MyBitDApp/

Twitter: https://twitter.com/MyBit_DApp

Reddit: https://www.reddit.com/user/MyBit_DApp/

Slack: https://mybit-dapp.slack.com/

Youtube: https://www.youtube.com/channel/UCtLn7Vi-3VbsY5F9uF1RJYg

Medium: https://medium.com/@MyBit_Blog


Translations

Russian [in-progress]
Chinese
Japanese
German
Spanish
French
Arabic
Italian
Portuguese
Dutch
Hindi [in-progess]


Bounties

Translations of Forum ANN and website content

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100stacks
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February 20, 2017, 08:11:41 PM
 #5

Hello Everyone!

As our team prepares for the ICO launch we are looking for initial feedback and questions.  Please ask away!

Few other things:
1) More details will be released regarding the ICO in the upcoming days.
2) If you are interested in a translation bounty please pm.
3) Anyone have the faintest idea why images are only displaying the hosted url? I've tried a few different hosting services, sizes, and formats.


Ok first question. Who are you? You and your team, introduce yourself properly. I'm not sure why I'm even asking this

C.R.E.A.M.
DApptothefuture
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February 20, 2017, 08:19:28 PM
 #6

Ok first question. Who are you? You and your team, introduce yourself properly. I'm not sure why I'm even asking this

Hey - team info is on our website. I will get it added to the forum.
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February 20, 2017, 08:34:19 PM
 #7

Any bounty campaign sir, like social network campaign, signcamp etc?

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February 20, 2017, 08:38:38 PM
 #8

Any bounty campaign sir, like social network campaign, signcamp etc?

Hey - please pm with the social platforms you specialize in, languages/geo-locations, and past experience marketing in this industry.
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February 20, 2017, 08:41:45 PM
 #9

Ok first question. Who are you? You and your team, introduce yourself properly. I'm not sure why I'm even asking this

Hey - team info is on our website. I will get it added to the forum.

This is enough for me to stay the fuck away from this

C.R.E.A.M.
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February 20, 2017, 08:43:26 PM
 #10

Hello Everyone!

As our team prepares for the ICO launch we are looking for initial feedback and questions.  Please ask away!

Few other things:
1) More details will be released regarding the ICO in the upcoming days.
2) If you are interested in a translation bounty please pm.
3) Anyone have the faintest idea why images are only displaying the hosted url? I've tried a few different hosting services, sizes, and formats.


Check PM dev, thanks


 
 
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February 20, 2017, 08:53:12 PM
 #11

Hi dev sent you pm ! would like to reserve italian translation!

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◣ Facebook     ◣ Reddit          ◣ Slack


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DApptothefuture
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February 20, 2017, 09:00:44 PM
 #12

Hi dev sent you pm ! would like to reserve italian translation!

Done!
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February 20, 2017, 09:02:44 PM
 #13

Sent a PM regarding a translation too, please check. Thank you Smiley

 

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February 20, 2017, 09:16:34 PM
 #14

Sir ... I see you have not been included in the escrow details in the thread that you make today, you will be prompted to register escrow reliable for your project in trust by everyone here. if it had been made I am sure that your project will be successful in the future.

Good luck... Cheesy Cheesy

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🌟 ATLANT ICO: 07/09/17 🌟


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February 20, 2017, 09:22:46 PM
 #15

Hello Everyone!

As our team prepares for the ICO launch we are looking for initial feedback and questions.  Please ask away!

Few other things:
1) More details will be released regarding the ICO in the upcoming days.
2) If you are interested in a translation bounty please pm.
3) Anyone have the faintest idea why images are only displaying the hosted url? I've tried a few different hosting services, sizes, and formats.


Ok first question. Who are you? You and your team, introduce yourself properly. I'm not sure why I'm even asking this

ditto

......ATLANT......
..Real Estate Blockchain Platform..
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DApptothefuture
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February 20, 2017, 09:24:11 PM
 #16

Sir ... I see you have not been included in the escrow details in the thread that you make today, you will be prompted to register escrow reliable for your project in trust by everyone here. if it had been made I am sure that your project will be successful in the future.

Good luck... Cheesy Cheesy

Hey - those details will be made available when we release specific information regarding the crowdsale.  Please stay in touch for updates.
ArdiPrabowo
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February 20, 2017, 09:29:42 PM
 #17

when MyBit coin open ico selling use escrow or not dev
and not open bounty, not promotion youre coin use signature campaign, facebook campaign or twitter campaign






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DApptothefuture
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February 20, 2017, 09:37:56 PM
 #18

when MyBit coin open ico selling use escrow or not dev
and not open bounty, not promotion youre coin use signature campaign, facebook campaign or twitter campaign

We are planning on utilizing escrow.  Post-ico we are planning to hold the funds in a smart contract wallet that has a trusted and well-known community figure hold one of the signing keys, and he will be required to authorize any withdrawals over a certain value to ensure funds are used as indicated in the ICO terms (which will be released in the upcoming days).
blocks.explorer
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February 20, 2017, 09:42:28 PM
 #19

another ICO coming...

where is your team based? do you work together from 1 location? are you covered by any crypto-regulation?

as to the fund allocation, what's the difference with 10% for Founders & 20% for Foundation?



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moroseneng
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February 20, 2017, 09:49:32 PM
 #20

when MyBit coin open ico selling use escrow or not dev
and not open bounty, not promotion youre coin use signature campaign, facebook campaign or twitter campaign

We are planning on utilizing escrow.  Post-ico we are planning to hold the funds in a smart contract wallet that has a trusted and well-known community figure hold one of the signing keys, and he will be required to authorize any withdrawals over a certain value to ensure funds are used as indicated in the ICO terms (which will be released in the upcoming days).

Why indonesian language is not on the list? Are u hate indonesian people? Ahh great


 
 
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