UNLOCKING BILLIONS IN IOT REVENUE

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Introduction

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.

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.

First Market

We are starting with solar panels to accelerate the decentralized energy grid. Since the current energy structure is not sustainable (scalable at speed), it will require decentralized energy solutions. Traditional financing models would only enable a small fraction of the population to own / participate in the decentralized solutions.

In 2008, the world relied on renewable sources for around 16% of its total primary energy supply. In 2013, renewables accounted for almost 22% of global electricity generation, and the IEA Medium-Term Renewable Energy Report of 2015 foresees that share reaching a minimum 26% increase in 2020. facilities, will be a critical component of the solution to the increased energy demand.

Solar energy is the fastest growing component within renewables. Today, most solar power is produced by large scale solar farms consisting of thousands of PV solar panels. These farms are primarily owned and operated by municipalities and or large utility companies. Soon (3-5 years), the clear majority of new solar power will come from micro or nanogrids, small solar power systems sitting atop residential and commercial rooftops, owned by active "prosumers" (producers and consumers) who monetize their space to gain progressive independence from the grid and create revenue streams.

Use Cases

Smart Property
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.

Automated Machinery
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.

Drones
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.

Self-Driving Vehicles
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.

Cryptocurrency ATMs
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.

3d Printers
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.

Smart Homes IoT Devices
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.

Renewable Energy 
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).

Roadmap

  • 2016 November
    Idea Conceived
  • 2017 February
    Whitepaper Published
  • 2017 May
    Architecture Designed
  • 2017 June
    Ethereum TestNet Demo
  • 2017 July
    Crowdfund
  • 2018 January
    Beta Release and Pilot

Meet Our Team

Advisors

Nick Ayton
Public Relations, Co-founder of The 21Million Project
Dr. Mihaela Ulieru
Technology, Global Advisor for World Economic Forum
Alvaro Portellano
Energy, Renewables and Regulatory Affairs Manager
Lion Wang
Marketing

Community

Partnerships

Escrow
Technology
Exchange
Public Relations
Legal
Payments
Garrett McDonald
Blockchain Design & Marketing Strategy
Thomas Pollan
Business Development & Partnerships
Ian Worrall
Founder
Pedro Barros
Engineer
Jacob DeBenedetto
UI/UX
Bogdan Fiedur
Solidity Dev
Ching Pong Siu (Kenji)
Chief Technology Officer
Maclin Macalindong
Graphic Design
Hua Li
Chinese Community Manager
Jake Vartanian
Community Strategy
Fran Strajnar
Escrow Manager
Kyle Dewhurst
Solidity Dev