On the eve of its upcoming token sale, the MyBit Foundation has launched its peer-to-peer investment platform designed to connect global investors with those seeking to fund revenue generating assets such as microgrids.
MyBit said growing electricity demand in the transportation, robotics and technology sectors along with a surge in emerging markets and from the Internet of Things has forced utility companies to explore cheaper alternative energy sources, of which microgrids will be an important one. That makes this a good time to unveil such a platform, MyBit founder Ian Worrall said.
“Enabling worldwide crowdfunding of revenue generating assets will be a game changer for everyone — eliminating financial barriers to entry, enabling new business models, accessing previously untapped capital from the many and providing an extremely low cost, paperless and efficient capital market for the masses.
“The use cases are limitless, ranging from solar energy micro-grids to rental equipment to autonomous machinery and vehicles. Any asset whose usage can be automatically monitored is a potential use case. The proliferation of microprocessors in everyday items (think IoT) will enable the explosion of revenue generating assets and the explosion of growth of the MyBit platform.”
The transactions will be governed by smart contracts running on Ethereum.