MyBit Enters Crowdfunding Stage of Goal to Decentralize Power Grid

MyBit has launched the crowdfunding portion of their journey to be at the forefront of commoditizing the coming artificial intelligence economy.

As the world pushes towards the AI market, MyBit is focusing its goals to make financing and maintaining revenue streams online as efficient and automatic as possible. They will do so by latching onto different forms of renewable energy (solar is most often mentioned) and asking investors and landowners to crowdfund a coming decentralized power grid. MyBit promises security for investments made by backers while landowners have easy access to those same investors who are willing to help in exchange for a share of the potential profit.

The goal of MyBit is to keep people out of physical banks and move everything online. This not only makes it easy to constantly be in touch, but also allows for investors to find suitable projects in places without access to banks or investment infrastructure.

MyBit is trying to inform consumers that developments in AI and Internet of Things (IoT) will bring about massive power usage as technology grows. Our currently functioning power grids will be unable to handle this exponential growth and MyBit is trying to focus on growing a decentralized grid. Decentralized simply means installing renewable energy technologies on homes and office buildings and using those a solution for the upcoming increased energy demands.

To become a part of MyBit, consumers must enter into a blockchain investment system carefully created and maintained by the company. Blockchain is a distributed database that is used to keep track of continually growing lists and transactions most notably affiliated with cryptocurrencies such as Bitcoin. MyBit is using this technology to make sure all transactions through their online platform are recorded and remain unmanipulated by outside sources.

MyBit’s currency of choice is Ethereum, and one Ethereum can net you anywhere from 100 to 133 MyBit tokens, depending on which tranche you are buying during.

As users buy tokens and invest in the company, MyBit will push towards a beta release and pilot of their platform in January 2018. For more information you can read MyBit’s whitepaper.