MyBit announces partnership with Ability Concept, prices surge by 43%


Leading price news today, MyBit’s MYB tokens have surged by some 43% after the blockchain project announced a new partnership with Ability Concept – a Prague-based smart bench and hardware sensor platform provider.

Founded by Ian Worrall and led by Garret McDonald, Thomas Pollan, and Pedro Barros, MyBit is a decentralized platform designed to tokenize revenue streams. Specifically, MyBit provides users with the ability to take ownership of a specific IoT (Internet of Things) revenue stream, and distribute funds to various investors.

For example, MyBit enables users to crowdfund assets and establish decentralized micro-economies; where investors would be able to purchase stakes in items such as drones, 3D printers, self-driving cars, or renewable energy sources, and distribute funds from a revenue source accordingly.

MyBit first partnered with Arabco – a Dubai-based smart technology provider – in 2017, and has now struck a new partnership with Ability Concept in a bid to provide investors with access to other alternative assets.

Presiding over the announcement on Medium, MyBit Chief Marketing Officer Joost Toornend quipped that “…for the MyBit community, this partnership will provide a strong return on investment while giving a boost to our core principles of alternative assets, decentralized investing and sustainability.”

Speaking specifically on the use of smart benches, Toornend offered that “Smart benches are the future. Cities are rapidly changing, especially when it comes to smart tech. Sustainable products, harnessing renewable energy and solar power, and the demand for smart, connected cities (think public charging and Wi-Fi) are growing year on year. Even the way local governments procure and maintain their benches can be revolutionized — with investors providing the funds, rather than taxpayers.”

Markets have reacted positively in the wake of the announcement. At press time, MYB tokens trade at the $2.97 USD, while the project bears a market cap of $151,455,913 USD.

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