The IoT (internet of things) is creating a whole new ‘connected’ world.
Every day, new devices are introduced to the marketplace that promise to connect our lives together. Dishwashers, cars, homes, and 3D printers are connected to the internet and provide a level of personal control and access unheard of even three years ago. This complex web of devices has also created a new opportunity for revenue generation, as connected machines can be used for profit, and investors are flocking.
Problems abound, however. The cost barrier for entry is very high.
High-quality machines that can generate substantial revenue often run into the multi-thousands of dollars, and more. Investors are required to create huge front end financing in order to even begin generating income of any kind. Further, a single machine does not necessarily generate revenue unless it is connected to a system for advertising and use. Hence, for investors to capitalize on the IoT explosion, they must not only have enough capital for machine purchases, but must also create points of sale for the machines.
MyBit and the Solution of Tomorrow
One company, however, has envisioned a way to create a new and improved investment vehicle for small scale investors to capitalize on the IoT. MyBit.io has created a platform where small scale investors are able to enjoy the benefits of large scale investment. In very simple terms, individuals are able to pool financial resources to purchase revenue-generating machines. Rather than huge upfront capital investments, a pool of investors can work together to purchase machines that create profit, and then can receive revenue return from those machines in near-real time. The connectedness of these IoT machines makes use and revenue distribution nearly instantaneous.
The system is built on blockchain technology, the new darling of the tech world. The technology creates a distributed ledger system where the information and investment of each party is transparent, and the revenue generated is immediately credited to the investor. Legacy investment companies have centralized business models. These allow profits to be gobbled up by large management teams and infrastructures. MyBit replaces these top-heavy infrastructure models with blockchain, distributing both the investment and the return directly into the hands of users.
A Simple Test Case
Consider, for example, the case of a 3D printer in an orthodontic office. The printer is being rented by the orthodontist in order to create models of patient’s teeth. This creates a shorter life cycle for braces and increases the business revenue. The printer, however, is worth perhaps $100,000, and the orthodontist is paying a hefty rental cost, along with purchasing the cost of the consumables. The machine itself is connected to the internet and provides real time feedback on usage and condition.
Rather than a single large scale investor, the printer is owned by, perhaps, one hundred individual investors who have each invested $1000. Every month when rent is paid and consumable products are ordered, the investors each receive (instantaneously) their portion of the rental payment. The orthodontist is pleased because revenue is increasing, and the investors and pleased with the rapid return on investment.
Plus the sales and marketing are carried out by a local company who does not have to invest the massive up front cost for the printer itself and can focus instead on lead generation.
MyBit empowers the business to move forward by partnering with distributed investors while producing a seamless revenue stream for small scale investors.
A Unique ICO
MyBit is currently in the midst of an ICO (initial coin offering). The unique benefit of the MyBit ICO, however, is that investor returns are not tied only to the value of the coin, but to the investment the coin has purchased. This means that investors are able to receive almost immediate return on investments, while still holding value in the coin.
The ICO will conclude on August 17, after which the price point of the coins will likely increase exponentially. The company has already signed agreements in both Germany and Dubai, and investment platforms are opening up around the world. The IoT will continue to be a point of revenue generation, as the machine economy grows. MyBit promises to move investors into this space at whatever level they feel comfortable, while maintaining the inherent value of the investment and promoting business development.