MAVRO: The Transparent and decentralised Payment network for the MLM Industry
Introduction
I will tell you something which will make you rich like me. I want you to create your own business. You just have to add five people in the group and sell them this product. Probably, you would have heard something like this from your friends or family members who are into multi-level marketing business. The MLM business is a highly lucrative business which is evident from the revenues of the companies operating in this domain. Amway, Herbal life, Infinitus and Vorwerk are a few of the top examples of this kind of business. Although they disagree on this that they are MLM. Working directly with the people and selling them high-end expensive products of different kinds is only one of the ways they operate.
Their prime motive us to engage as many people as possible and thereby create a chain between the groups of people. Adding more people in the group in the name of heavy discounts and regular payment, they continue to target people through various channels. Government restrictions in the many countries do not allow any financing options for these companies. They employ various creative ways to run their business in countries where they find difficult to operate.
Facing serious issues with their payment network among groups, they lose their market share. A few of the problems faced by the MLM Companies are mentioned below.
- High fees in international payments
- Slow transaction speeds
- Too many thresholds and intermediaries in the business
- High charges for record keeping
It's time we created a new payment network for the Multi-level marketing companies. A better ecosystem for the payment in the MLM industry which could envoke trust among people and the government.
SOLUTION OFFERED
MAVRO is creating a fully transparent and decentralised payment network based on blockchain technology for the MLM businesses. The p2p network creates better security for the people participating in the business.
Creating payment mechanism tools for the MLM companies based on the Smart contract is their primary concern with the platform. Their platform will provide security to the payment between consumers and company.
ICO INFORMATION AND TEAM
To create a platform of transparency and trust, they have asked people to support their project. The total tokens created for the project is 475 000 000 in which 75% is reserved for the market. The Token presale is currently live and continues until 21st February 2018. One ETH Token is equal to 4700 MVR tokens. The main ICO will start from 15th March 2018 and continues until 15th April 2018.
The funds collected from the people will be utilised in the Product development and maintenance, marketing and customer development. The team has experience in the business operation and management. Founder and idealist of MAVRO is Sergey Mavrodi, who is also the founder of MMM Global.
Conclusion
Highly appealing advertising to lure the general public, they sell expensive products at a discounted rate. They can sell anything from a toothpaste to a candy bar. They work in a very obscure way and it is one of those reasons why they have been banned in many countries. The biggest problem they face is of trust and transparency among people. The harder they try, the more deceptive they look. People do not easily believe as they are not able to understand their motives and business model. The Global market for the MLM Business is estimated to be 178 billion dollars.
Companies working in this business have to deal with multiple challenges to survive their business. Better cash flow, decentralised and transparent payment can bring the industry to the mainstream, where people will be able to interact freely with the company. Ethereum based smart contracts are utilised to build trust among the public who are a strong disbeliever in MLM kind of business.
The core of payment and business is transparency, and if MAVRO is able to bring back the same in the MLM business, it will be one of the pioneering developments in the industry. What we will see in future is still not known but predicting the growth of the company on the basis of its history, we can say that, they will have a positive impact on the MLM business.
To know more visit:
Website : https://mavro.org/
Whitepaper : https://mavro.org/pdf/MAVRO_Whitepaper.pdf
Published By: Kishan748
Btalk profile: https://bitcointalk.org/index.php?action=profile;u=1027561