Topic: MyBit - Unlocking Billions in IoT Revenue | Tokensale COMPLETE | 10,044+ ETH

[vindyne8]

Unlocking Billions in IoT Revenue
TokenSale July  17, 2017 to August 15, 2017
TokenSale Details: https://medium.com/@MyBit_Blog/mybit-tokensale-all-the-details-here-4b43e4fcae3c
MyBit in 30 Seconds: https://www.youtube.com/watch?v=0SjB3G23VeU

Website: http://mybit.io
TokenSale: https://mybit.io/tokensale
Whitepaper: https://mybit.io/docs/MyBit_Whitepaper_v0.13.pdf
Video: https://youtu.be/wvpnMJQkhAo
Ropsten Testnet Demo: https://www.youtube.com/watch?v=0pWrhNw9HGo&feature=youtu.be
CoinInterview: https://www.youtube.com/watch?v=oplnZGuVKos&t=667s
Telegram: https://t.me/mybit_dapp
Slack: https://slack.mybit.io

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: 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 Strives 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

[vindyne8]

The pre-sale is going on now (closed) but you can PM DApptothefuture for details. The auto-buy script will be made available in the dashboard on the MyBit Site on June 28th with minimum 25 ETH requirement and will run until July 17th when the TokenSale officially starts.

MyBit opens registration for tokensale
We have some exciting news for you!

Our Journey commenced back in November 2016 when our idea was first conceived. Since then we’ve published our white papers, designed the architecture, nearly finished our Ethereum TestNet Demo…and now we have reached our next milestone.
 
We are delighted to announce the launch of the Token Sale!

READ MORE - https://medium.com/@MyBit_Blog/mybit-opens-registration-for-token-sale-8645f4b2e02c

Interview with MyBit COO - Thomas Pollan

https://www.youtube.com/watch?v=yuR4-RFiTBE&feature=youtu.be

[vindyne8]

From the original post here: https://medium.com/@MyBit_Blog/mybit-one-page-summary-c90aca68194c

MyBit One-Page Summary

The MyBit platform (MyBit) connects investors from around the world with businesses and individuals seeking to fund revenue generating assets. No Banks, no attorneys, no middlemen required. Fast, convenient, secure peer-to-peer (P2P) transactions governed by smart contracts running on Ethereum.

For individuals and businesses who wish to obtain revenue generating assets but face financial or geographical restraints, MyBit unleashes a world of opportunities through cost-effective access to global capital. The result is a far more scalable and efficient funding model than provided by traditional financing.

Product/Service Summary

Enabling worldwide crowdfunding of revenue generating assets will be a game changer for everyone?—?eliminating financial barriers to entry, enabling new business models, accessing previously untapped capital from the many and providing an extremely low cost, paperless and efficient capital market for the masses.

The use cases are limitless, ranging from solar energy micro-grids to rental equipment to autonomous machinery and vehicles. Any asset whose usage can be automatically monitored is a potential use case. The proliferation of microprocessors in everyday items (think IoT) will enable the explosion of revenue generating assets and the explosion of growth of the MyBit platform.

The positive societal impact to individuals previously excluded from economic opportunities due to geography (proximity to a lending institution) or ability to meet minimum investment requirements (think net worth, investor sophistication, etc,..) will disproportionately propel the accelerated adoption of the MyBit solution.

First Target Market?—?Decentralized Energy Grids

With the forthcoming increase in electricity demand resulting from the proliferation of Artificial Intelligence in the areas of transportation and robotics, utility companies are exploring ways to scale the production of electricity outside their high cost traditional power generation facilities. Microgrids?—?small, decentralized solar energy production units?—?are a key component of their solution strategy.

Given there is no platform to securely connect small investors and individuals who wish to participate in the creation of microgrids (revenue generating assets) and sell the power production to the utility companies, the masses are left on the sidelines.

Solution

By commoditizing solar power systems and other forms of renewable energy, investors and landowners can crowdfund the coming decentralized energy grid and share in the corresponding revenue streams. Utility companies benefit since the new power generated will ride atop existing distribution lines and requires no material capital expansion expense. It is a win for investors, a win for private entrepreneurs, a win for the utility companies, and a significant win for the environment.

MyBit connects investors from around the world with businesses and individuals seeking to fund revenue generating assets like microgrids. The MyBit platform gives investors 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 us step closer to an equitable economy.

Fundraising Terms

Brave New Coin will manage escrow and releasing funds through a multi-signature wallet contract stored on Ethereum.

Begins July 17th

Length: 30 Days or until maximum amount reached

[vindyne8]

The pre-sale is going on now (closed) but you can PM DApptothefuture for details.

The auto-buy script will be made available in the dashboard on the MyBit Site on June 28th. The minimum requirement to invest is 1 ETH,  with the minimum requirement to qualify for bonus being 25 ETH requirement and will run until July 17th when the TokenSale officially starts. This will lock in your investment, so you will not miss out if the ETH network chokes when the sale starts.



Web 3.0 Meets Energy

Intro to Web 3.0

Although nomenclature for the web continues to be opaque, its development over the years can be generally categorized into three distinct phases?—?each building on the one before it.

Web 1.0, or the “read” phase, was about connecting information and getting on the internet. Web 2.0, or the “write” phase, is about connecting people into a web of social participation and allowing them to publish content. The next stage, Web 3.0, or the “execute” phase is just beginning. It is about dissolving the frameworks of websites, web apps and owned data and replacing it with shared data that can be accessed by services and smart contracts that can present and process that data in meaningful ways to the user. Web 3.0 will be a “read-write-execute” web.

read more: https://medium.com/@MyBit_Blog/web-3-0-meets-energy-76dcbef5bf89

[vindyne8]

Official Details for the upcoming MyBit TokenSale have been released!

MyBit TokenSale: All the Details Here

Welcome Everyone! The MyBit TokenSale is fast approaching and we are now ready to share all of the details. Please note that due to the volatile nature of this emerging industry, details are subject to change. Our goal is to keep this document updated with any new information so it can be your golden source guide for the MyBit TokenSale.

Fundraising Milestones: There will be a hard cap of 26,875 ETHER and minimum requirement of 4,000 ETHER for this to be deemed successful. If minimum amount is not reached, all funds will automatically be transferred back to sender.

Escrow: Funds will be secured in a multi-signature wallet contract with 2 members of the MyBit team and 2 members from Brave New Coin who are acting as escrow to ensure the ongoing security of funds. Funds will be released as needed and approved by escrow to the MyBit Foundation (currently in the process of being registered in Switzerland).

Read more:  https://medium.com/@MyBit_Blog/mybit-tokensale-all-the-details-here-4b43e4fcae3c

[vindyne8]

TokenSale code has been finalized: https://github.com/MyBitDev/TokenSale/blob/master/crowdsale.sol

The Auto-Buy Script will be made available on the dashboard tomorrow (June 28th) at 12:00pm GMT +0.  Just follow the simple instructions on the dashboard to utilize it.  Any transactions sent prior to this time will throw so please wait.

[vindyne8]

The auto-buy script is now available in the dashboard on the MyBit Site . The minimum requirement to invest is 1 ETH, with the minimum requirement to qualify for bonus being 25 ETH requirement and will run until July 17th when the TokenSale officially starts. This will lock in your investment, so you will not miss out if the ETH network chokes when the sale starts.

[vindyne8]

Recent news
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Join the bounty campaign!: https://bitcointalk.org/index.php?topic=1808790.0

Token sale code finalized: TokenSale code has been finalized: https://github.com/MyBitDev/TokenSale/blob/master/crowdsale.sol

Official Details for the upcoming MyBit TokenSale have been released: https://medium.com/@MyBit_Blog/mybit-tokensale-all-the-details-here-4b43e4fcae3c

Pre-registration is open: Go to https://mybit.io/tokensale and scroll down almost to the bottom, just above the last blue section.

The auto-buy script is now available in the dashboard on the MyBit Site. The minimum requirement to invest is 1 ETH, with the minimum requirement to qualify for bonus being 25 ETH requirement and will run until July 17th when the TokenSale officially starts. This will lock in your investment, so you will not miss out if the ETH network chokes when the sale starts. Visit https://mybit.io/tokensale

Keep up on the latest Mybit news and updates:


Join the MyBitTelegram News Channel: https://t.me/mybit_dapp]https://t.me/mybit_dapp
Join the MyBit Slack: https://slack.mybit.io/

[vindyne8]

The auto-buy script is available in the dashboard on the MyBit Site. The minimum requirement to invest is 1 ETH, with the minimum requirement to qualify for bonus being 25 ETH. This will lock in your investment, so you will not miss out if the sale ends in pre-sale stage, or if the ETH network chokes upon main sale launch. This will run until July 17th when the TokenSale officially starts, or until the hard cap of 26,875 ETH is reached, whichever comes sooner.
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Head on over to https://mybit.io/tokensale and secure your spot today.
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[vindyne8]

Did you know the source code for the MyBit Testnet demo has been released on github?: https://github.com/MyBitDev/TestNet-DemoApp
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MyBit - Ethereum DApp - TestNet Demo
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Head on over to https://mybit.io/tokensale to register and secure your spot today!