MyBit Token Whitepaper

Abstract

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 Token Website
MyBit Token Whitepaper

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