The following information is provided by the project team.
MyBit is a decentralized asset management platform designed to add an ownership layer to the internet. Our goal is to change how ownership is recorded to make the process of registration, transferring, and querying both cost-effective and fast. By utilizing Blockchain technologies in our core application stack it creates a unique opportunity for managing assets and ownership which is more secure, efficient, and reliable than any other solution for digitalizing assets and ownership. Similar to how the internet streamlined and secured the transfer of information (communication technologies), Blockchain enables for asset ownership (and transfer) & core business functions. The Blockchain is often heralded as the world’s first internet-scale open platform for value-exchange. By utilizing a decentralized model, a single point of failure risk is removed. Data is governed and maintained by network participants (nodes) and all data is fully replicated across all network peers. Also, Democratic principles are ingrained in the core (code) of the platform providing all participants with a voice regarding the future of the application. This results in innovation at the foundational level.
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