“Murky” is the term that has often been used to describe the world of network marketing. There is a complete lack of transparency that results in people being skeptical of network marketing. Pyramid schemes, shady transactions, and more, there are endless issues with traditional network marketing. Enter, blockchain cryptocurrency MLM software, a groundbreaking technology that can turn the world of network marketing on its head. Sounds exciting? Let’s dive in to know more here!
Lack of transparency in the old way of MLM
Traditional MLM practices have been around for decades and you cannot call them spotless for several reasons. Commissions, bonuses, and the flow of funds in such systems are not transparent even today and this casts a lot of doubts. There is a complete lack of transparency and fairness in the existing practices that are feared by all.
Blockchain technology can come in extremely handy in such scenarios. Blockchain is increasingly being employed to power new MLM systems. Want to know how? Let’s find out.
Total transparency facilitated by blockchain
The lack of transparency is a highly predominant issue in traditional MLM systems. Trust erodes fast when you do not understand where your funds is going or how commissions are being distributed.
Transparency is the key to blockchain, as it is a public ledger, that helps in keeping immutable and easy-to-track records of all transactions. If you are using an MLM network, you can easily know your earnings transparently along with an understanding of the flow of funds and what everyone is getting. Say goodbye to shady business and hidden fees with MLM systems.
All transactions are recorded and cannot be altered with blockchain. What difference does it make? Well, now you can easily verify your earnings and commissions using blockchain. In an industry that is struggling with the issue of trust, this level of transparency is mind-blowing.
Cheaper transactions at a greater pace
Slow and costly transaction methods are common in the payments in traditional MLM systems. Have an international team? You can easily understand the slow nature of these payments. It is frustrating as slow payments and high fees on profits can result in problems for you in international transactions.
Gift yourself the protected and cheap payments that are possible due to the use of cryptocurrency. The time taken to make payments is also minimized as blockchain allows the faster flow of funds, by taking away barriers that have been present in international payments. Get paid in real time with unmatched ease and speed.
Make more profits with no middlemen
Handling transactions in traditional MLM processes often depends on a third-party intermediary like banks. These middlemen are the real reasons behind the slow processes and charge their fees, diminishing your profits. Now ensure direct transactions between different participants, without the need for an intermediary with the help of blockchain cryptocurrency MLM software.
Doesn’t it sound like more funds in your pocket? The profits for you go up significantly with lower fees and direct transactions. Everyone benefits from blockchain, as it creates a fair environment that is filled with transparency.
Automated smart contracts for streamlined operations
Have you ever witnessed an MLM payout? Isn't it extremely frustrating? It is a complex and slow process, which results in frustration and delays. With smart contracts powered by blockchain, you can easily automate and streamline the entire process now.
All you need to do is meet certain predefined conditions and boom! Your transactions are triggered automatically. Fair payment, no administrative burden, and elimination of human error, all areas are facilitated using smart contracts that are intrinsic to any blockchain system.
Built-in protection
If you are handling funds online, you are bound to be concerned about the protection of these transactions. Traditional networks have witnessed several breaches of security, which have tainted the image of the same. Want inherent security? Use blockchain technology. Blockchain offers encryption of each transaction and links it to a previous record, resulting in a chain that cannot be altered.
Keep your data protected, whether you are sending or receiving payments, with blockchain. The decentralized nature of blockchain eliminates any single point of failure, making it virtually hack-proof. Ensure the safety and security of your hard-earned commissions.
Empowering global network
Both blockchain and cryptocurrency are global. Participate in the same MLM system irrespective of your location or your team’s location. Now free your team from the hassle of involving multiple banks, currencies, and borders with cryptocurrency and blockchain. Everyone, everywhere now has open access to network marketing.
Total control over the systems is impossible with robust blockchain networks available now, which are completely decentralized. All participants can enjoy an equal stake in such a democratic platform, which adds to the overall fairness of these systems. Build stronger, more committed teams who are trustworthy and connected.
A future of innovation and growth
The possibilities of MLM are practically limitless as the domain of blockchain is evolving even now. The manner you do network marketing is going to change with the innovations that are to continue with blockchain and cryptocurrency in MLM systems. From tokenized incentives to decentralized exchanges, you can get access to multiple perks with these systems that can enhance your overall experience.
Businesses and marketers get ready to stay ahead of the curve! How would you feel if you could have a scalable, transparent, and sustainable network marketing system at your disposal? Feels great right? With blockchain and cryptocurrency in MLM, this is completely possible with the future being even more bright.
The way you do business is going to be transformed by blockchain and cryptocurrency. If you are looking to use MLM or are already using it, you will likely witness multiple changes to the business model. The older systems which are slow and lack transparency will be easily replaced and new systems that are powered by blockchain and cryptocurrency will take over in the future.
Ready to join the revolution? Blockchain is powering a world of opportunities in the MLM sphere ensuring a positive and transparent system that is acceptable and profitable to all.
