MYTC
Before the invention of money and a financial system based on it, there was the barter and trading system. It functioned on the simple basis that while one provided something the other wanted in exchange for something that the former wanted. The items being traded may not have the same value or same time or resources required to obtain it, but they'd still be traded or exchanged for something that one needed at the moment.
This was the way the World functioned for quite a long time and it still in use in many parts of the world and for simple and small objects, items, services and so on. It usually was unfair if looked in the today's perspective. While one trading something cheap and abundant for something really valuable was considered to be jackpot or steal in today's world, it was a common practice during those times.
Then there came about a change in the way we did our trades and financing, with the introduction of coins, which were made out of precious metals and were used to denote certain value or price to it so that it may be used as a medium to purchase goods and services.
This marked the advent of the Fiat currencies and Financial systems that are in place in today's world. But even these systems that we use now are much more advanced and optimized ones than during the early years. Currency notes are a recent thing and only coins were majorly used as currencies during the early years.
This change from barter to currency based Trading, Buying and Selling changed a lot of the trade dynamics. It meant that the ones on the shorter end of batter now received their deserved value for what they sold. It meant that there was now a standard upon which prices can be fixed, allowing for much better decision making and much more scalable and flexible option to be available for all. A few of these option were forming of stock market, better loans and so.
It also made trade and barter with foreign nations much more easier than before, since there was a basic standard that all followed. Moving onto the recent times, there are a lot of small and medium-time businesses running all around the world and most of them have now diversified to various fields and since the world is getting more and more interconnected with the advancement of technology and travel, boundaries are growing smaller, allowing them to access locations and materials from other places that were previously not possible before for them.
But this system, though had a lot of advantages over the Barter system and allowed for the nations and the World to progress, had a lot of innate flaws and disadvantages. There was a way for trading and bartering with people from all over the world while before, there was no way or no simple way, it included a lot bureaucracy.
There were a lot of middlemen, the industry was highly centralized, took a lot of time, incompatible currencies and so on and so forth meant that businesses, especially, small and medium ones were forced to trade locally or within their known circle.
MYTC Platform
They plan on solving the above mentioned issues and problems by creating a platform based on Blockchain. This solves most of the above mentioned problems since, it gets rid of the middlemen in place, making the transaction fees and rates much lower than what it is now.
It also means that the entire platform is decentralized and the power of say on the workings were in the hands of the users and not in the hands of few top players in the field. It also meant that it is much more transparent, secure and scalable than current offerings.
ICO & Team
They plan on powering their platform by introducing the MyTradeToken (MYTC) which is based on Ethereum's ERC-20 Token standard. They plan on holding their Pre-Sale on 1 August and their Main-Sale on 1 September. It requires you to be Registered, Whitelisted and KYC Verified in order to be able to participate in the TGE.
The Founders and rest of the team has adequate experience in Trade Industry, Software Development, Marketing, Sales, Research, Blockchain, HR, Community Management and Design respectively. The advisory board consists of renowned and experienced Analysts, Advisors, Influencers, Inventors, Investors, Entrepreneurs who also bring along their expertise in fields of Trade Industry, Financial Development, Strategy Development, Business Development, Blockchain, Investments and Finance.
Conclusion
They are heading into a really vast and untapped field but do have indirect competition and must not turn a blind eye to it. They seem to have unique vision of connecting all the small and medium time businesses and good Token Economics.
They seem to have an average team with good backing from the advisory board. All that remains to be seen if whether the team will be able on deliver on their promises and whether they'll gain enough market traction to sustain themselves.
To find relevant details regarding MYTC's current smart contract, please follow a number of sources for the following References:
Website :http://www.mytradetoken.io/
Facebook :https://www.facebook.com/MyTradeToken/
Twitter :https://twitter.com/mytradetoken
Telegram :https://t.me/MYTCProject
Profile Link : https://bitcointalk.org/index.php?action=profile;u=1255738
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