MyBit enables Crowdfunding IoT Assets via Blockchain
Switzerland-based MyBit was created in 2016 with the aim to use block chain technology, tokens, and smart contracts to allow seamless distributed ownership of IoT machine assets by democratizing capital investment, replacing traditional centralized financing and ownership. MyBit’s approach is based on allowing consumers to invest in each other’s projects through revenue sharing agreements, bypassing traditional lending practices. Consumers buying a stake in a revenue-generating system receive a portion of that revenue in return. MyBit claims this approach allows the unlocking of hundreds of billions of dollars in investment opportunities previously out of reach of small investors.
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