MyBit is a platform that aims at tokenizing any automatable or machine infrastructure in 5 years.
MyBit will start with commoditizing solar panel systems and other forms of renewable energy in Germany, so investors and landowners will be able to crowdfund the coming decentralized energy grid, getting security on investment while landowners can find more investors that will to help in exchange for profit.
Also, by standardizing and automating setup, sales, and dividends, MyBit will allow users to access to an equitable economy.
Decentralizing energy infrastructures, MyBit will:
- Remove financial barrier to entry by crowdsourcing the purchase of decentralized grids in exchange for per-usage revenue sharing;
- Enable faster access to capital;
- Create a highly scalable and sustainable energy model
Right now, renewables are the fastest growing component of worldwide energy generation and the IEA Medium-Term Renewable Energy Report of 2015 foresees that share will reach a minimum 26% increase in 2020. And among the renewables, solar energy is the fastest growing component within renewables.
Why in Germany?
Germany’s renewable energy sector is one of the most innovative and successful of the world. Renewable energy sources in Germany increased from 6.3% in 2000 to about 34% in 2016 and is targeting 80% by 2050.
This is why Germany is the right place to launch the MyBit platform.
Why Decentralized Energy?
The explosion of Artificial Intelligence and the Internet of Things will result in a massive demand for energy. Traditional energy grids are not able to scale rapidly enough to keep up with the demand, so the world will nee decentralized energy grids, composed of renewable energy technologies such as solar panels.
MyBit’s main goal, in fact, is to remove financial barriers to entry and the friction currently present in the alternative assets investment space, enabling anyone to benefit from sustainable infrastructures.
Ethereum + Bitcoin
The Berlin-based startup will utilize both the Ethereum and Bitcoin Blockchain networks to solve data manipulation.
Once data is recorded on the MyBit’s platform, it will be autonomously transferred into the Bitcoin and Ethereum blockchains in order to remove trust and offering immutability to their users.
MyBit ICO will be launched on July 17th,2017 and will run for a 30-days period or until funding limits are achieved, whichever comes first.
The objective of the MyBit crowdsale is to secure funding to finalize the development of the platform, conduct pilot studies, and bring the product to the market.
The total supply will be 5,000,000 tokens that will be sell in two different tranches:
- Tranche 1: 1 ETH = 133 MyB with 25% discount for the first 9,375 ETH
- Tranche 2 with a full price of 1 ETH = 100 Myb for the latest 17,500 ETH
All funds contributed during the token-sale period will be held in escrow with a multi-signature Ethereum-based wallet contract. The MyBit team has worked with Brave New Coin to devise a release schedule that enables rapid development of the platform as well as protect investor funds.
How the ICO works
People who want to participate in the ICO will need to send funds to an Ethereum smart contract from an easy to use the “dashboard” on the MyBit website.
The Smart Contract will mint tokens instantly and send to user’s online account. These are available for withdrawal upon the close of the crowdsale.
Once completed (total duration or maximum tokens issued) the Ethereum funds are then transferred to a multisign escrow wallet with signing keys.
MyBit tokens will be used to access a few functionalities of the platform including registering a new asset, transferring an asset, and a variety of financing features. Holders of MyBit tokens will also receive real-time revenue distributions proportionate to their stake percentage.
MyBit will ensure that tokens will be tradable on a minimum of one major exchange, and 3-5 more exchanges in the next future.
Of course, the main goal of MyBit is to high levels the liquidity of the MyB token market and this could be achieved through the laws of supply & demand, P2P energy trading, and machine to machine payments.
Through the laws of supply and demand, as we gain more market share, the demand for MyB increases thus creating buy-side liquidity. P2P energy trading creates steady liquidity on both sides of the market.
Machine to Machine payments will constantly create buy and sell-side liquidity.
Remember, the MyBit ICO will be launched on July 17th,2017. Join it here.