MyBit ICO, Decentralised Asset Management

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Hello Everyone,

This is Satish from India.

Today I would like to give a short review on MyBit ICO.

We can observe that most of the startups coming with innovative ideas to bring impossible situation into reality with new technologies like Blockchain tech and Artificial intelligence and others to mitigate cost component, remove barriers, and creating trust. But most of them are benefiting for themselves and for the investors and they don't have a any motive to think about economic future. This is so hurting to me when we think about our future infrastructure.

Few startups are coming with innovative ideas to make profit with purpose for the economic benefit. Ex : Humaniq (Banking the Unbanked), MyBit (Platform for tokenizing renewable resources).

At present energy consumption is huge for residential purpose, corporates and for maintaing infrastructure compare to past. And this consumption will increase in near future due to increasing human interaction with machinery like Artificial intelligence powered Internet of devices and electrification of everything in our daily lifes.

Due to increase in usage it is immediate requirement to find alternative solutions to meet the demand instead of wasting our valuable scarce resources to produce energy.

The solution to this producing energy through renewable sources like solar, wind, wave, hydro, geothermal, biomass and waste. In 2008 world is relied on 16% on renewable sources for energy out of total energy generated by all the resources, In 2013 the dependence on renewable sources increased to 22% and as per IEA medium term renewable energy report of 2015 foresees a minimum increase of 26% in 2020. It is really a positive move for protecting our scarce resources like Coal, Oil, Natural gas.
Out of all renewable sources "Solar" is fasting growing sector to produce energy now a days and it will increase at unexpected rate of growth in near future.

As per forecast made by IEA the major in non OECD economies (Brazil, Russia, India Indonesia, China and South Africa) will consume energy at a highest increase rate of 71% between 2012 to 2040 while OECD economies consumes only increase in 18%.

Now already some of the developed countries like Germany, Italy, Austria are aiming to produce through renewable sources at high rates. But with exponential growth in global demand for energy traditional financing is not a feasible solution to meet the scalability with limited reach of population. It also incurres huge cost for middleman for adminstration.
Due to centralised Authorities the decisions will be taken by them. In traditional investments the funds will be locked for several years.

To meet and overcome all difficulties MyBit startup is coming into renewable energy producing industry as a platform or infrastructure with sophisticated Blockchain technology by removing the barriers of entry for financing and giving opportunity to investors across globe for making very good profits. This startup having motive "Profit with Purpose".

MyBit is a platform which issues blockchain based MyBit tokens for investing in new asset class in Decentralised renewable energy Infrastructue by the investors, Irrespective of other startups who are issuing tokens which does not represent any intrinsic value, But MyBit is asset backed token from the beginning.

MyBit also enables automatic in real-time revenue distribution from profits with the help of Smart contracts. (Ethereum has Smart contracts functionality and these are predetermined agreements which are made with solidity programming launguage in Ethereum virtual Machine) which eliminates need of Trust and adminstration and that ultimately results in reducing costs.

The Market model

In 3- 5 years majority of solar power generate from micro or nanogrids. These are installed in residential and commercial rooftops and this energy will be used for self consumption and excess will be sold. As per Elon Musk Tesla founder the market size is estimated 20-30 million rooftops per year.

The expected profit per system per month

Out of all producing renewable energy countries Germany is fastest and successful and having main aim to produce energy in renewable energy sector at higher rate. The renewable energy sector in Germany increased from 6.3% to 34% from 2000 to 2016 and it is targetting 80% by 2050.

At present MyBit selects Germany country for investment and after it will expand its investment decisions accross globe.

The Revenue model

MyBit platform charges 1% as network fee for internal transactions made in platform and the entire fees will be distributed to all token holders according to the % of stake they hold.

As per estimations made by MyBit the profits are shown below

The Flow cycle in MyBit Platform

Initiator creates a asset in platform with Asset manager and initiator details will be recorded in Blockchain. A unique identification number will be attached to the asset based on quality, location, production and considering other parameters. Initiator can decide to enable the asset financing in crowdfunding. Once it completed profit distribution will begin when assets starts generating revenue.
Investor can identify the ownership of asset in Blockchain because it is public and open for everyone and due to this fraud can be completely eliminated and everything will be transparent. Investor can create beneficiary details using Trust Manager contract and he can provide further events in predetermined manner like upon death, marriage, graduation transfer should take place. Then automatically the contract will triggers when event occurs accordingly.

MyBit token can be used in

Investing energy and AI infrastructure, funding & revenue distribution,
Peer to Peer trading,
Machine to Machine Payments,
Trading in Open exchanges.

MyBit also uses another technologies like IPFS for file storage and Swap Protocol for Crypto Asset conversion, and it aims to come in mobile platform through decentralised application Status.im .