MyBit Set to Be a Global Player in The Machine Economy

The world is entering a new era. Technological improvements are approaching the tipping point for creating what will be nothing short of a full scale economic revolution. IoT, automation and the machine economy are being ushered in before our eyes, and MyBit is at the forefront for investing in what will be a whole new economy.

“There are three types of people in this world: those who make things happen, those who watch things happen, and those who wonder what happened.” — Mary Kay Ash

Right now, on average about 33% of business expenses come from employing human workers. With the increasing efficiency of automated technologies, the time is fast approaching where companies will elect to use this capital to instead invest in machines that can do a better job for a lower cost across almost all industries. According to the 2013 Oxford University paper “The Future of Employment” 47% of jobs are at “high risk” of being automated in the near future. These high-risk jobs range from transport workers, machine operators and manufacturing jobs all the way to lawyers and other white-collar industries. Considering the unemployment rate during the great depression was around 25% this is very unnerving, and it will change the way the economy operates completely.

In order to compete in this emerging business landscape, companies will be forced to employ automated technology. But this requires overcoming huge capital entry barriers. This is a bottle neck that potentially only a handful of large companies will get through. Those who make it through however will inherit a positive feedback loop of productivity that may create corporate monopolies like never seen before.

This creates a problem. Human labour will be of little value in this economy and won’t be able to earn a wage. Small, medium and even large businesses may lose their ability to be competitive. And we end up with a hyper minority of corporations who end up holding all the cards.

“There is no economic law that says that everyone, or even most people, automatically benefit from technological progress.”

Nicholas Carr, The Glass Cage: Automation and Us

So the question is, should the fruits of technological progression, which has been driven by a collective human effort, be concentrated in the hands of a few who dictate how it is distributed? No, It shouldn’t.

MyBit will to provide everybody with direct access to becoming an investor in the automated machine economy. Clearly these devices are poised to be a very lucrative investment class, and MyBit is leading the way to make these investment opportunities available to the public with no entry barrier.

MyBit will be a global player and will transform investing.

MyBit changes everything. It transforms investing to reflect the demands of the 21st century investor living in the era of IoT, automation and machine economics.

Take the stock market for example. A stock represents equity in a company, and up until now stocks have been the best performing investment class in history. The NASDAQ, one American stock exchange, has a $7 Trillion market cap alone. But in the new economy, where all the economic value is being generate by autonomous machines; Why would you buy shares in a company when you can buy shares in machines?

This is the service the MyBit platform will provide. It will give everyone from institutional investors to everyday people the ability to buy shares in the machines that will autonomously cater to market demands and produce revenue for shareholders directly. Things such as solar energy, self-driving cars, delivery drones, bitcoin ATM’s, smart homes, 3D printers, smart properties, autonomous robotic surgeons, self-driving logistics vehicles, industrial production robots and many more revenue producing autonomous machines will be tokenized, with their revenue stream being distributed directly to the shareholders.

“Equality of opportunity is the essential social justice” — Tony Honore

This is why MyBit will be a global player in the emerging economy. The opportunity to benefit directly from IoT, automation and the machine economy needs to be made available to everyone. The MyBit platform will facilitate a smoother and more equitable transition into the era of industrial automation, reducing the negative effects of labour obsolescence and provide widespread global prosperity.

Automated technology should be a good thing for society, it should free people to have a bit more time and live a bit more comfortably, not steal jobs and create inequity. MyBit is here to make sure everyone has the opportunity to live better as we enter in to the era of automation.

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