MyBit is an IoT investment ecosystem powered by Ethereum. Founded in Switzerland by industry veterans, MyBit believes that people should be able to follow their passion instead of having to work to survive.
By redefining the way people generate income, MyBit strives to democratise financial services so everyone has equal access to investment opportunities. This becomes critical when the future machine economy automates 800 million jobs by 2030 (Mckinsey, 2017) and the average person, whose job is automated, has no ability to participate in this new economy.
MyBit provides an ecosystem for the upcoming 11.1 Trillion dollar IoT industry (Forbes, 2017), with the belief that everyone should have an equal opportunity to participate in this revolution.
Introduction
The Internet changed humanity significantly. Now there is a new technological revolution on its way. It is predicted that by 2025, 50 billion IoT devices will generate an astonishing 11.1 trillion $ in revenue. Every industry and occupation will be affected under the fast development of autonomous machines. Mckinsey (2017) calculated that 50% of all global working-hours can be automated with currently demonstrated technology already. This machine transition will have an impact on 30% of all jobs by 2030. MyBit provides an ecosystem for the upcoming 11.1 Trillion dollar IoT industry, with the belief that everyone should have an equal opportunity to participate in this revolution.
MyBit believes the ecosystem being designed is of vital importance to the future moving in the right direction for the world’s population as a whole.
Current investing procedures are broken with high risk due to people having to entrust third-parties with their personal money, excessively high fees, slow distributions of profits, and above all high capital barriers to entry which results in the top 1% (economically) of the population obtaining unequal access to the most profitable deals.
MyBit solves this issue by focusing on using Blockchain technology to create an open, fair, and efficient investing ecosystem that is available to everyone. The Ecosystem is comprised of the MyBit DApp, a decentralised investing platform, and MYDAX, the world’s first decentralised exchange for IoT assets, which creates liquidity that historically has never been available in many markets.
MyBit