Ever since the advent of blockchain technology, Smart Contracts are being used in various financial services, making the need for third-party requirements ineffectual. Now, smart contracts are widely being used in MLM businesses, overcoming the drawbacks that once made MLM a precarious business venture. With Smart Contracts and their immutable and permissible nature, MLM businesses can function with the highest security and zero risks.
At Blockchain App Factory, Smart Contract-Based MLM platform development services are immaculate, and we are the leading experts in Blockchain Technology. We’ve developed and launched various protocols and solutions within the cryptocurrency and Decentralized Finance realm. A few examples might include DeFi Smart Contract development, tokenization development, ICO development. Therefore our solutions are your best bet to succeed in your MLM business and other fields in the financial services industry.
MLM or Multi-level Marketing is an acclaimed marketing strategy where sales companies urge their distributors to hire new ones who are paid a number of the distributor’s sales. Now, thanks to smart contracts, this business can be run efficiently and in a transparent and trustable manner.
With a smart contract-based MLM platform running on blockchain networks like Binance Smart Chain and Ethereum, several MLM plans can be offered to those joining an MLM scheme for which they will receive benefits in the form of crypto assets and tokens. MLM businesses running on Smart contracts have automated the processes performed on traditional MLM platforms and have removed the involvements of human effort, which was a drawback of the previous model.
The Binance Smart Chain is a Blockchain Network similar to Ethereum and TRON. It is built on the Ethereum Virtual Machine(EVM) and is combined with Smart Contracts, which decentralizes all transactions and processes. Since it is an autonomous and independent blockchain, developing dApps and several DeFi protocols are possible on this network. A Proof-Of-Stake mechanism is used in BSC for verification and processing of transactions.
Some advantages of the Binance Smart Chain that would deem profitable for an MLM business include high performance, low transaction fees, cross-chain compatibility-meaning assets that can be transferred from one blockchain to another. The members joining the platform will be earning rewards as BNB tokens, completely streamlining the usual workings of an MLM platform. Users can also easily integrate their Metamask wallets with the BSC platform since it is built on EVM.
Thanks to the inception of cryptocurrency and blockchain, a completely unique and new perspective has been added to MLM business. Cryptocurrency has made way for fast-paced and transparent transactions with digital coins. This has certain advantages over traditional MLM businesses that have several flaws that make users hesitant to interact with them. Some of them include
Building credibility among customers was a huge pitfall.
The customers we’re not aware of when or how they’re transactions we’re being initiated and processed. Delays were imminent in the conventional MLM model.
Customers and users were not cognizant of information regarding their transactions and payments.
The users of the MLM scheme were kept in the dark about their earnings.
With Blockchain technology like the Binance Smart Chain, users needn’t worry about the aforementioned errors and instead trust the smart contracts and their immutable nature. Since all payments will be made through crypto coins, users can easily bring in more referrals and boost business.
Extending to the standard Ethereum token ERC-20, BEP-20 is the standard token of the Binance Smart Chain. It is similar and compatible with both the BEP-2 and ERC-20. These tokens can represent anything from shares, fiat currencies, and Stablecoins. All BEP-20 tokens are fuelled with BNB.
The advantages that come with opting for our feature-filled Smart Contract-Based MLM platform are plentiful, giving your users the best experience on this robust platform. Some of these include but are not limited to
One of the important factors that contribute to the acclivity of MLM businesses of late is smart contracts. It offers transparency and immutability, which are integral aspects of growing an MLM business. The immutable factor of this enhanced mode of business offers trust, so investors would not hesitate to stake in this lucrative venture. Ever since MLM businesses were integrated with Smart Contracts, more investors are flocking to such platforms, escalating profits for the business owner. When it comes to MLM businesses, there are a lot of strings attached. Traceability was one factor that was a hurdle in the conventional MLMs. With Smart Contracts on a blockchain network like Binance Smart Chain, the users will be mindful and track, identify, and trace all transactions made on the platform.
Participants will be able to view all previous and on-going transactions since the blockchain acts as an open-ledger. These characteristics of Smart Contract based MLM on Binance Smart Chain are very appealing to investors and customers alike. The final aspect of such platforms that sets them above the traditional methods is the peer-to-peer set up of such protocols. Since there is absolutely no need for third-party integration, the chances of customers being scammed are highly unlikely, making Smart Contract MLM Development on Binance Smart Chain a very prudent business investment.
Blockchain App Factory’s Smart Contract-Based MLM on Binance Smart Chain will offer you and your MLM business all the aforementioned traits that guarantee a prolific turnout and a stunning ROI.
The MLM business operates in more than 100 countries and is seen as a beneficial and worthwhile investment for entrepreneurs and start-ups who wish for a big break. And we at Blockchain App Factory are the right people to invest in. Having several years of experience in Blockchain technology and cryptocurrency, we will be the perfect fit to develop and launch a robust Smart contract Based MLM platform on the Binance Smart Chain.
All of our solutions are white label and customizable , giving you the upper hand in deciding how your venture should operate. We have a group of gilt-edged developers, market analysts, and blockchain experts who will show unrelenting support to your project from inception to completion.
Get in touch with us soon to begin working on making your Smart Contract based MLM on Binance Smart Chain a resounding success!
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