Hey fellow Cryptons out there and I hope you gain some value from this post and take a further look at my recommendation, MyBit Token, which I believe is one of the most highly undervalued cryptocurrencies in the market today.
As of this writing MyBit is valued at around $5.27 and has a Market Cap of $14.75 Million, ranking it at 364 on coinmarketcap. MyBit also has a low Total Supply and Supply Cap of 2.8 Million Tokens. So as you can see it’s on the low end of the spectrum in relation to its market cap less than $100 Million and we know in Crypto projects that make it in the top 100 tend to be valued in the hundreds of millions if not billions if not tens or hundreds of billions. Add into the fact that the MyBit Token has great utility and seeks to unlock billions of dollars in IOT revenues for investors and this project becomes very appealing.
What is MyBit trying to do? Before we dive in further, I recommend you read my previous Steemit posts on Automation and on Investing in Exponential Growth Curves. In summary I talk about how automation and Artificial Intelligence developments will reshape our economy in the next decade. For further reading on workforce disruptions please refer to the McKinsey Global Institute Report of 2017 on this topic. I think that automation and AI will widen income inequality gaps and that Giant Tech Companies will mostly keep the benefits of AI and automation to themselves while putting the burden of the unemployment and lower incomes that comes from this disruption on the shoulders of most people.
So this is all grim, and where does this put humans on the economic spectrum? Well you can only imagine that there is a need to start thinking about a universal basic income or UBI as well as additional means for people to support themselves. But, currently not alot of politicians are looking at UBI or the near future workforce disruptions to come, AI and automation are not slowing down & business leaders are hungry to cut payroll costs through automation and achieve a higher ROI and bottom line.
Fear not folks, for MyBit is already thinking about this and developing its platform on generating passive income through investing in IOT devices that are powered on this emerging technology such as AI, advanced software, which is set for the Alpha Platform (Celestine) Launch in Q2 2018.
MyBit hopes to give investors a platform where they can use their tokens to buy and sell liquid stakes of IOT investment so that investors can have a passive revenue stream off of autonomous vehicles, clean energy, mining rigs, smart grids & master nodes depending on their stake. Think of it like you invest in the development of a solar panel, and when the solar panel starts to generate electricity you gain a cut of the revenues being produced by the solar panel, made possible through blockchain/cryptography technology & integration with the IOT devices (Solar Panels in this case) registered to the MyBit Platform. Furthermore token holders who stake their tokens and help secure the MyBit network gain a portion of a 2% network transaction fee EVERY time a new IOT device becomes fully funded.
MyBit’s partners (Keep in mind these are only a few and MyBit is actively seeking out many more high quality partners) are as innovative as it is and the MyBit platform will allow investors to crowdsource IOT devices that its partners are making or creating value out of:
I. Alpine Mining – a Swiss Cryptocurrency firm that harnesses hydroelectric power plants located in the rivers of the Alpine territory or Swiss Alps in order to mine cryptocurrencies with 100% clean, renewable energy that emits 0% CO2 emissions. This is a big deal because current Cryptocurrency mining is a very cost inefficient & energy inefficient process which contributes to Scalability Issues as well as Global Warming further but Alpine Mining is on the mark and hits two birds with one stone.
II. Arabco Smart Technology - Arabco currently has a deal in place with the Government of Dubai and the Smart City Initiative backed by the Sheikh. This deal will ensure Steora smart benches are installed by Arabco throughout Dubai. The Steora smart bench is their first IOT device in their portfolio with many more to be added but it is worth it to take a closer look at the Steora design. Arabco is designing their smart benches with built-in solar panels, usb charging ports, 4G mobile routers for Wi-Fi, cooling and temperature control, weather & vandalism protection, etc. And their source of revenue comes from advertising from in-built flatscreen TVs!
III. Slock.it – This German startup is developing the Universal Sharing Network (USN), an open source infrastructure on which blockchain applications modules can be deployed. Users will use the Slock.it app on their smartphones to locate relevant IOT devices and conduct these transactions on a cryptographically secured network so they can buy, rent, share, or book them for the future.
MyBit’s purpose is to give people the money via the sharing economy and to buy them time so they can do the things they love and work on their passions. After browsing through the official website, Medium Blog, partner websites, watching a solid YouTube review by Ken the Crypto (shoutout to Ken Llamas!) & interacting with other MyBit investors and the Chief Marketing Officer, Joost on Discord, I can see by the quality of the interactions with the team, seeing their level of dedication and passion into this project, as well as the scope of their vision, seeing the excitement early investors like myself and other reviewers have, the vision that MyBit Partners have (MyBit vets all partners very meticulously to get the best), I am confident that this is one of the most undervalued projects out there in crypto and a strong buy and HODL not only because of the low market cap and potential for price appreciation but also because of the token utility to capitalize on Investing in the IOT, IOV and the Sharing Economy. Listen in on a Skype Interview with Founder Ian Worall to see his overall take on the MyBit Network and the value of crowdfunding IOT assets in a decentralized fashion. Keep in mind that MyBit is an ERC-20 token that you can store in a cold storage device such as the Nano Ledger hardware wallet so that you can Keep Calm and HODL On.
I want to add one last point. I had a very brief interaction with the CTO Jose Aguinaga on Discord and he was trying to explain to the channel why he and the other devs are very busy and don't have much time to interact on Discord with the community. It's simply because they are busy day in and day out focused on coding away for the MyBit Foundation's upcoming Alphat Platform Launch and you can see the hardwork of the Devs - CTO Jose Aguinaga, Solidity Developer Kyle Dewhurst & Blockchain Engineer Connor Howe in particular, judging by their Github activity and commits.
Thank you for reading this, let me know in the comments below what your take on MyBit is!