With main activity in financing and maintaining revenue streams efficient and automatic, the MyBit cryptocurrency comes with a new approach to the industry, by commoditizing solar panel systems and other forms of renewable energy, investors, and landowners being able to crowdfund the coming decentralized energy grid. With MyBit, investors get security on their investment, while landowners get access to investors willing to help in exchange for profit. By standardizing and automating setup, sales, and dividends, the MyBit cryptocurrency makes a step forward to an equitable economy aiming for the next five years, to be at the forefront of commoditizing the coming AI economy.
While the amount of energy needed to power AI machinery will exceed what traditional power grids can produce and 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.
MyBit plans to use Blockchain tokenization, through Ethereum, while governed by smart contract logic, in order to include a new asset class for investing in Decentralized Energy infrastructure.
It all looks plausible when looking at the core values of the MyBit cryptocurrency:
- Sustainability (clean energy);
- Accessibility (vastly reducing financial barriers to entry);
- Scalability (to meet rising power demands globally).
MyBit’s proposed solution and smart contract functionality will enable decentralized crowdfunding and revenue sharing for infrastructure that is already generating revenue. This enables energy infrastructure to scale as needed to keep up with growing demand. It is not restrictive to location (from a financial infrastructure perspective), incentivizes investors with real-time revenue distributions and enables decentralized energy solution providers, to sell more units.
Based on recent numbers, it is clear to see there is a tendency on growing the renewable type of energy, with the IEA Medium-Term Energy Report of 2015 showing the year 2013 with renewable energy being accounted for almost 22% of global energy generation, and predicting to reach a minimum of a 26% increase by 2020.
The fastest growing component, within renewables, is solar energy with most solar power 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.
However, this is soon to be shifted towards micro or nanogrids, small solar power systems from residential and commercial rooftops which, all together, will form the majority of where the solar power will come from.
“According to Tesla founder, Elon Musk, there are between 20-30 million rooftops per year, worldwide, that can be transformed in micro or nanogrids, and therefore, 20-30 million rooftops able to monetize their space to gain progressive independence from the grid and create revenue streams.” (Whitepaper, 2017, Page 8)
This is the addressable market for the MyBit platform.
MyBit platform will launch in Germany, that thanks to their innovative and successful renewable energy sector, which showed a net-generation of renewable energy increase of 27.7% of their total consumption, in the last 16 years, as well as targeting to 80% by 2050.
Another factor for this decision is Germany’s energy policies and politics, the “Energiewende”, meaning “energy turnaround” or “energy transformation” and their will to succeed in renewable energy by driving an environment of amicable private/public partnership and economic incentives.
MyBit plans to extend to the markets of the largest non-OECD economies (Brazil, India, Indonesia, South Africa, China, and Russia) where an estimated of almost two-thirds of the world’s primary energy will be consumed, by 2040.
Compared to the actual market where the rate of return on investment stands at around 10.75%/ per year and a total payback period of 9.29 years, it is projected that within three years, the cost of solar PV will be reduced by approximately 50%, due to constant innovation.
All of this equates to a 7.5% increase in annual rate of return on investment and an approx. 3.4 year decrease in payback period. This model demonstrates that the MyBit cryptocurrency will become increasingly profitable over time.
All transactions on the MyBit platform are assessed a 1% network fee which is distributed to token holders based on their percent stake. In the below model we have provided a basic visual of what this could look like based on monthly revenue distributions from total installed Solar PV systems.
This being said the mathematics behind stands as follows:
- For one System worth $10.000, with a monthly TSF of $115, the total flow will be $1.150.000 while network fee stands at 1% and network profit at $11.500 the monthly profit will be of $12.
Another example would be on the high end where the total amount invested in the System itself would be considerably higher:
- For a System worth $25.000.000, with a monthly TSF of $115, the total flow will be $2.875.000.000 while network fee stands at 1% and network profit of $28.750.000 the monthly profit will result in $28.750.
The cost for a 0.1% stake in the MyBit network assumes a maximum raise equivalent to 4,000,000 USD. Please note that this amount may vary.
MyBit platform is built agnostically from revenue generating assets and industry-specific use cases perspectives. Decentralizing ownership (and therefore the flow of profit distributions) of AI machinery, specifically autonomous mobiles, provides immense benefits.
For example, with the rise of AI, traditional workers will be displaced, with unemployment reaching warning levels. Many workers will be unable to be retained for an AI-oriented workforce and this will produce societal backlash which will slow the uptake of AI. By commoditizing autonomous machinery, you can help supplement wages from jobs lost to AI, and optimize infrastructure to adequately scale with rising energy demands.
Similar to the process outlined above for commoditizing decentralized energy, MyBit plans to use their model to foundationally drive the evolution of AI infrastructure implementation.
In short, MyBit’s goal is to remove the financial barriers to entry and the friction currently present in the alternative asset investment space, thereby enabling anyone to benefit from sustainable infrastructure regardless of their socioeconomic status or location. They achieve this through the creation of a platform which decentralizes investment through Ethereum smart contracts and secures ownership with IPDB and IPFS while being fueled by application-specific tokens, MyBit Tokens ($MyB).