MyBit & Ability Concept Create MYDAX IoT Decentralized Asset Exchange

MyBit, an important Internet of Things (IoT) investment ecosystem, announced that it signed a partnership with the smart contract technology company known as Ability Concept. The main intention is to launch the world’s first decentralized asset exchange that will be called MYDAX and will be developed for the future machine economy.

The company that is located in Switzerland, will allow users to invest in revenue-generating IoT devices. We are talking about autonomous vehicles, smart objects, drones, 3D printers, and more. The IoT devices are expanding everywhere all over the world and creating a new way of interaction between people and objects.

According to Ian Worral, CEO of MyBIt, by 2050, over 50 billion IoT devices will be generating $11 trillion dollars in revenue. Additionally, by 2030, the industry could reach $9.5 trillion dollars. If the trend continues, IoT devices will be able to take over.

Joost Toornend, CMO at MyBit, commented:

“We can see that already with 30 percent of all jobs being severely affected by automation by 2030.”

Ability Concept is a smart-tech company that is located in Prague – and is the second smart technology partner of MyBit. At the same time, in December, the MyBit announced that it was working with Arabco, an important enterprise located in Dubai.

With this partnership with Ability Concept, MyBit was able to team up with known smart providers in Europe and the Middle East, which are two important markets for smart benches in the world.

Governments, authorities, enterprises, and researchers are all working on different ways to implement different smart city solutions. Every single year, there are new products and services, from harnessing renewable energy and solar power, to the connection of public charging and WiFi via smart technologies.

For MyBit community investors, IoT is a very important part of the ecosystem. Ability concept is now placing smart benches everywhere around Europe and users are able to invest and own a share of one of those smart benches. The revenue generated is distributed to the investors using Ethereum smart contracts.

MyBit is working changing the way in which individuals are able to generate income. Additionally, it democratizes financial services in a way in which everyone has equal access to investment opportunities.

With MYDAX, the world investing will have another definition. During the third quarter of the current year, MyBit will be releasing a private alpha version of the decentralized exchange that it is building, and will be launching a public beta toward the end of the year.

The exchange will allow users to buy sell and monitor assets. MYDAX will be able to liquidate investments in just seconds – something really impressive considering other platforms. Moreover, the access to the market is done very easily with just a fraction of the costs and no financial intermediary and MyBit takes just 1% revenue compared to 20% o 30% from traditional funds.

Ashley Halladay, creative lead at MyBit, said:

“From a UX perspective we’re trying to make it as user-friendly as possible. A lot of the things you expect to see on a cryptocurrency exchange or DApp, we’re trying to steamline behind the scenes.”

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