Smart Contract Based MLM: Revitalizing the Traditional MLM Model
By: Kannupriya Raghuvanshi
Tags: Smart Contracts, Blockchain, Cryptocurrency Investment, MLM, Mlm Software

Are you keen on starting a multi-level marketing (MLM) business, but worried about winning people’s trust in a conventional MLM model because it lacks transparency? If yes, smart contract based MLM is an ideal option for you. Popularly built on Ethereum blockchain, a smart contract-based MLM platform automates the multi-level marketing processes, such as the calculation of users’ funds, distribution of users’ funds to their accounts, and more, thereby bringing trust and transparency to the system.

Thanks to blockchain technology, the smart contract is tamper-proof. Once it has been created, no one can manipulate it, not even the makers.

Most smart contracts are powered by Ethereum blockchain and the transaction details are stored in Etherscan.

Inherent advantages of a smart contract MLM

You get to run your business precisely in line with what you and your network partners had agreed on and there is complete trust. The downline does not live in the fear that the promoters won’t pay them on time.

Here are a few advantages a smart contract MLM would invariably bring in:

Fully automated transactions

100% hack-proof

Instant P2P payments

Minimum human intervention

No risk

No scams

Simple to move through level

Software customization — what to take care of

While your smart contract MLM software is under development, you can have it customized according to your specific requirements. You just have to convey your preferences to your development team and they will be happy to serve. Whether it is about joining fee, level up profit, referral methodology, or anything else, it can be modified as per your requirements.

Fears your future members may be having

When you want your MLM business to deal in cryptocurrencies, having a smart contract to govern the business becomes even more essential as without an automated system as many of your future network members are likely to view your network as prone to risk. These fears may be about:

Recurring faults related to payments of cryptocurrencies

Lack of awareness about networking business

Hesitating about investing in cryptocurrency

Hacking of the system

Basing your business on a smart contract will help you allay their fears.

How to go about starting a company

Launching any company let alone an MLM business is an uphill task and you need to come prepared to tackle that is expected to come your way.

If you get your MLM software developed from scratch, it will take plenty of time and allow your competitors to get miles ahead. Moreover, it will also create a hole in your pocket.

A much better option is to get a white label solution since it can save your development time and cost significantly. There are several scripts out there and you may choose any of these. Your developers can assist you in making the choice. They can make the necessary changes in the script and set up the smart contract on top of it.

Why is this the right time to launch your MLM business

A smart contract based MLM business is hinged to an advanced technology that is sure to bloom in the upcoming days. If you join the business early and also have the entrepreneurial spirit, you can ride the massive technological revolution to build a business that does not yet have many competitors.

Though there have been MLM companies before as well, it is the smart contract that has transformed the game altogether, bringing in unprecedented transparency and security. It was common in MLM businesses to see mistrust among the members and promoters. Often, the downlines accused their uplines of harming their interests and there have been cases when the promoters stopped the payments of a hardworking network member without any solid reason.

Such issues made MLM companies unpopular. However, the advent of smart contracts has revived people’s interest in this business model. As the use of cryptocurrencies gains steam, the MLM is sure to go north. Using your dollars to buy cryptocurrency MLM software makes all the sense in this scenario.

What to do after starting a business

Getting smart contract-based MLM software is not enough for the success of your business. You need to follow it up with some other steps:

Publish publically the contact details of your enterprise to generate trust among future networks.

Run online and offline campaigns to create awareness about your business and why it is different from your competitors.

Explain your business model to people.

Be transparent in your dealings.

Summing up

All challenges that the users once confronted in MLM businesses have now been overcome with the help of smart contracts. Since the arrival of blockchain technology, things have changed really fast in the MLM ecosystem. An industry rife with mutual mistrust is now working perfectly in tune.

This also provides you with an opportunity to start a smart contract-based MLM business early and increase your chances to succeed substantially. You can buy blockchain-based MLM software from a reliable company and begin your business right away.

Antier Solutions is a frontline company when it comes to developing smart contract-based MLM software. We hold expertise in developing white label MLM solutions and can build a custom MLM platform from the ground up as per your business requirements.

Schedule a free demo of our white label smart contract based MLM software or connect with our subject matter experts to share your business requirements.