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Any company that provides Internet of Things enabled devices that generate revenue such as smart lock enabled assets such as co-working and storage spaces (and commercial and residential real estate if regulations permit), Bitcoin ATMs, Crypto Miners, 3d Printers, transportation sharing services (cars, scooters, bikes, etc.), and so so many more. The value to IoT companies is being able to tap into a global market of investors seamlessly to increase their sales.
Who can become an IoT partner?
Any company can integrate into the MyBit Go Partners API, and submit their details to become listed. This is subject to a community vote to keep the model decentralised.
*initially MyBit may choose to manually approve and onboard the initial IoT partners to ensure everything functions correctly, but then it will be transitioned to the decentralised model outlined above.
- 1.An IoT company integrates the MyBit Go Partners API which includes sharing necessary data and enabling direct payouts to investors via smart contracts.
- 1.If they are unable to integrate internally, they can coordinate a job on Task.Market to have someone from the MyBit community do it for them in return for a fee or potentially a revenue sharing agreement.
- 2.If someone from the community brought the IoT company to the ecosystem (not including integration, so non-technical community members are encouraged to conduct this as well) they may be entitled to receive a percentage of received funding as a sort of referral fee.
- 2.It is then submitted for a community vote (approve or reject) where the company shares its details, financials, and technical implementation can be tested.
- 3.If approved, the asset is then made available for asset managers to list to be funded.
- 4.If funding is successful then invested capital is automatically transferred to the company. It is important to note that asset managers never have access to this capital, and no human intermediary is required to complete the transaction - everything is done via Ethereum smart contracts.
- 5.The company then ships and installs the asset, and the asset manager takes over from there. From this point the company has limited to no liability outside of product warranties.