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Whether you are a part of the network marketing industry or not, you must have heard about successful MLM-lifers like Burke Hedges. Hedges was the one who grew the LifeVantage from $10 million to $232 million per year revenue company. In addition to that, he spent 30 glorious years training distributors to grow big with MLMs. However, in 2010 his LifeVantage contract was abruptly terminated. The company accused him of misconduct and nefarious behavior. What do we learn here?
In the light of Hedges’s fall, MLM does not sound like good business. But when we dig deeper, it becomes evident that the MLM industry is falling victim to distrust, lack of transparency, mutability, and more such contractual issues.
Blockchain technology precisely addresses the pain points of the MLM industry. In simple words, a blockchain smart contract developer for MLM matrix program can infuse much-required transparency and immutability into the business. The smart contracts are automatically executable computerized contracts. When an event is recorded, these contracts are automatically triggered.
Smart contract MLMs offer the following advantages to the MLM business:
Built on blockchain platforms like Ethereum, Tron, and bitcoin smart contract MLMs ensure a decentralized setup. As there is no manual intervention, the users remain confident that the transactions will remain secure and autonomous.
A major roadblock in the growth of an MLM industry is user distrust. This is because the operations and business models are not transparent enough. A blockchain smart contract developer for MLM matrix program ensures all unilevel, binary, hybrid, or matrix plans are transparent enough so that the users can trust the MLM platform.
The traditional MLM platforms are built on legacy solutions that do not support real-time transactions. A DeFi Ethereum smart contract developer can empower the MLM platform with real-time transaction features. By overcoming the existing issue of delayed transactions, the MLM platforms can gain more user trust.
Smart contracts automate the MLM workflow. With the least manual intervention, the workflow complications and issues are circumvented. Thus, with the integration of smart contracts in MLM business, more transparency is bought into the setup, and the workflow is simplified.
Not many MLM operators are aware of the blockchain advantages of operating the MLM business model. When you come out with a unique platform that is empowered by blockchain smart contracts, it becomes easy to attract more users.
Blockchain is an immutable ledger. Thus, it ensures the terms and conditions of the program defined in a smart contract cannot be tweaked or tampered with. Effectively, the users remain confident that the platform can be trusted.
When MLM software runs on blockchain smart contracts, the platform becomes risk-free. This is because the blockchain-powered user accounts cannot be hacked or tempered by external elements.
With the smart contracts automating the entire process, the MLM platform works in a peer-to-peer fashion. Thus, no third party controls users’ funds. In such a transparent set-up, the users trust the platform more and work towards building the distribution network rather than worrying about payment processing.
The smart contracts can be customized to suit the platform needs. Whether your platform offers binary plans, unilevel plans, matrix plans, or hybrid plans, a smart contract customized to handle the same can be built by the developer.
At Antier Solutions, we provide our clients with MLM scripts to expedite the launch of their smart-contract-based MLM platforms. These ready-to-deploy solutions can be easily and quickly customized to suit our clients’ needs. In addition, we specialize in building a completely custom smart-contract-based MLM platform from the ground up.
Schedule a free demo of our white label MLM solutions or connect with our subject matter experts to share your needs for a custom MLM platform built from scratch.
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