Mytradetoken: a decentralized bartering platform
Have you gone through your history book? If you have then you would know that money was not always there. In fact, people were involved in trade and market activities without the need for money. Earlier they used to follow barter system for any kind of transactions. Barter system had many loopholes and this is why people released that they need some central and common commodity to conduct trade and market activities. Thus, money came into existence. Cool, a piece of history. If you don't know about barter transaction then I would suggest you google it.
You might wonder that why am I talking about barter transaction- a technology which was followed a long time ago.
But, you will be surprised to know that even today, various small scaled enterprise conduct trade/barter. But the market lacks any common platform for these businesses to allow them to trade/barter with other business globally. The platforms which are there are not efficient, transparent and charges high transaction fees which makes it difficult for small-scale business to rely on them. This restricts the business to only conduct trade/barter with the business that they know locally.
But, Mytradetoken is a company which has come forward to resolve all these issues. They are promising to provide a global common platform which will connect all these businesses so that they can carry out trade in an efficient manner. Therefore I decided to dig more into the platform and find out more about the company and its services.
Mytradetoken platform
Mytradetoken is working on the next-generation B2B exchange which aims at providing efficient and transparent trading platform. The company plans to improve the existing technology by removing some of the major loopholes like privacy and inflated pricing, fraud transactions, high transaction charges. To solve all these issues, they will be seeking the help of blockchain technology.
People have now started to realize the true potential of blockchain and this is the reason behind the sudden increase in market capitalization of various cryptocurrencies. Mytradetoken is working on a decentralized platform based on blockchain technology which will allow small enterprise to organize trade or barter with each other enterprise. They are trying to help people with their trade while allowing you to focus on cash and sales.
Mytradetoken will unite various small enterprise and allow them to enjoy an ability to conduct trade among themselves. You can understand the platform as like an e-commerce site. Merchants will offer their goods or services which can be purchased by buyers. All transaction on the platform will take place using MYTC tokens. Merchants can use these tokens to pay other merchants on the platform.
ICO and Team
Mytradetoken is based on Ethereum platform and uses ERC20 specification for its tokens. Mytradetoken has released 112 million MYTC tokens for sale. The company will organize its ICO sale from 1st August 2018- 30th September 2018. The tokens will be sold at a rate of 1 MYTC token= 0.065 Ether. They will accept only Ether as the mode of payment for the purchase of MYTC tokens. However, you need to purchase a minimum of 50 MYYTC tokens (with the maximum being 10,000).
Conclusion
Mytradetoken will start its core development from September this year. The beta version of the platform is scheduled to be released in October with MYTC token being listed on all the popular exchange platforms. Mytradetoken will also run various security tests of the platform as well as its Android and iOS app in December to ensure that there is no loophole in the system. The second version of the platform is scheduled to be launched in Q2 next year. The company also plans to expand their services to Thailand, Vietnam, Malaysia, and Singapore in the latter half of next year. They will expand their services to US and UK in 2020 and 2021 respectively and China and Europe in 2022 and 2023 respectively.
It seems like Mytradetoken has planned a lot of things well ahead of time as they have yet not released their platform. But, the big question comes is whether they provide a good opportunity for investors or not? Well, I might say that idea wise they have an edge but not sure about they are executing their idea perfectly. The lack of presence from the social media platform worries me a lot (considering the fact they have their ICO soon). Personally, I would prefer to put my money in some company which does not provide me with a sense of belief that I will a chance of making a good return on my investment.
You can remain updated to all the latest news related to Mytradetoken via-
Website - https://www.mytradetoken.io/
Whitepaper - https://www.mytradetoken.io/assets/MYTC_White_Paper.pdf
Telegram - https://t.me/joinchat/IfimWw9B9Da8zgx1seP3aw
ANN - https://bitcointalk.org/index.php?topic=4582921.0
Published by - coineaglebt
Btalkprofile - https://bitcointalk.org/index.php?action=profile;u=1936073