MYTC- Blockchain Technology And Barter System
MYTC is a new platform in the internet domain that has harnessed blockchain technology with an aim to bring back the barter system. The platform primarily focuses on unifying small and medium entrepreneurs from all around the world to offer them an ecosystem where they can trade and compete head-on with conglomerates. The interface of the MYTC platform is quite simple and well laid out. Users can sign up to become a designated MYTC merchant and showcase their goods and services on the platform. Interested buyers can use their MYTC tokens to purchase those goods and services offered for sale. With the MYTC trading platform, it aims at providing transparency in the trading domain and minimizes the risk of trade abuse.
MYTC is an ERC20 token based on Ethereum Blockchain. Ethereum employs smart contract that run on a distributed public ledger, hence ensures that the results are transparent, consisted, and cannot be manipulated. It permits only trusted agreements and transactions to be performed. The platform is adopted by leading corporates like IBM, Santander Bank, JP Morgan, and Microsoft.
Presently, there are billions of small companies internationally struggling to compete within a cut-throat market, due to the technology and budget limitations. MYTC platform has targeted these challenges and provided a constructive and cost-effective solution where companies can trade on a global level and expand their horizons. Additionally, there will be no centralized regulations or middleman present to share the profit; whatever the merchants earn will be entirely theirs. Apart from technology and budget, another challenge for SMEs across the globe is the lack of resources and opportunities that limit their approach to newer customers. With MYTC, these merchants have a global market at their disposal, which means they can connect with new customers who are not restricted to a particular location. This has rendered many prolific prospects for companies to increase their profit margins.
Presently most blockchain platform’s exchange rates vary from 5%-6%, which is an expensive amount to pay, and certainly small companies cannot afford such high exchange prices. MYTC community has addressed this limitation as well by allowing traders to transact internationally with exchanges rates varying between 0.5% to 1% per transaction. Additionally, it offers merchants a pro table that allows them to use inventory on a regular basis. This makes things easier for the merchants who are experiencing seasonal sales.
The concept of barter trading has expanded the cash flow dimensions of the businesses, which has certainly attracted many customers, resulting in more sales. Moreover, the platform also provides more capital to operate and invest back into the business.
MYTC is a transformational platform that is working its way towards eliminating limitations that stand in between companies and global success. It’s unified and decentralized platform allows small businesses to perform trading activities seamlessly without worrying about budget, technology, or resource, therefore giving them multiple opportunities to thrive in the modern, dynamic marketplace, and stand tall beside the leading corporations worldwide.
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