The MUST Protocol is a framework with a set of on-chain and off-chain rules, services, and methods for asset validation, accounting, and asset rights management using non-fungible tokens. The MUST Protocol team will provide for developers an application with a secure and universal blockchain platform, powerful tools, and community-uniting rules and regulations for creating new applications and services based on non-fungible tokens. The MUST Protocol is an open, universal, verifiable cross-chain standard for the exchange of significant information about assets and rights between decentralized applications.
The protocol focuses on privacy by means of the use of the most advanced cryptographic methods. The MUST Protocol allows developers to focus on the application level and quickly create applications for tokenization and management of real assets of enterprises, for accounting of rights of claims, sales of securities, obligations under credit and leasing contracts, encumbrance accounting, management of payments on shares and bonds, property rights accounting, purchase and sale of debts and toxic assets, lease and use of real estate and other property, as well as accounting of the rights to non-fungible tokens and managing them within the decentralized non-fungible exchanges
The Platform
To demonstrate the MUST Protocol practical efficiency the project team is developing a full cycle fintech product MUST Platform | Rent Auto. MUST Platform | Rent is a marketplace-like asset rental service connecting potential lessees and lessors. It is based on the MUST Protocol which is a protocol of tokenization, certification, and assets rights transfer through non-fungible tokens TRight. To test the MUST Protocol concept they decided to use the team’s know-how and expertise. The MUST team has previously developed automotive vehicles digitization and evaluation services, and they chose this market to test MUST new solutions. they consider the automotive vehicles rental market to be representative enough to prove the MUST Protocol concept adaptability and practical executability after the declared functionality is successfully completed. Along with above mentioned points they conducted a marketing research of micro, small, and middle-sized businesses and found out that financing gap was their biggest problem all over the world. Financing deficit exceeded $8 trillion in 2017. Please follow the link for the whole research. Asset rental is an efficient tool to provide micro, small, and middle-sized businesses with assets. Asset rental can be used as an acceptable alternative to traditional mortgage financing for fixed asset acquisition. Thus the MUST Protocol based micro, small, and middle-sized businesses oriented asset rental solution will demonstrate the technology feasibility and its economic effect.
Advantages of MUST Protocol
Digitization of assets and tokenization of asset entitlement is the process of transition of an asset and transactions therewith to digital space.
Token of right – TRight associated with an asset in the real world is a new kind of asset existing in the blockchain network.
It is possible to tokenize the rights to any assets, both of low liquidity (real estate, cars, equipment) and of high liquidity (fiat money, stocks, bonds, etc.).
- Personal asset management - Tokenization of rights to personal assets will significantly increase their liquidity and provide an opportunity to benefit from our assets of low liquidity (car – sharing cars, apartments, and country houses – leasing according to the Airbnb model); whereas, the transactions security will be guaranteed by decentralized Escrow-smart contracts.
- Management of debt and liability - Using services built based on the MUST Protocol, individuals, businesses, and organizations will be able to place, sell, buy, and settle mutual rights and obligations (including debts). All information about creation and structuring, regulatory compliance confirmation, performance records, and any other accompanying information is homogenized (brought to the most uniform form) and stored in chronological order in a series of events
- Fundraising - Tokenization of rights to assets of low liquidity allows obtaining the same economic effect as securitization. An asset of low liquidity will be transformed into a highly liquid asset, which provides an opportunity to attract financing in the capital market.
- Risk management - Tokenized rights to assets will form the basis for a new system of risk assessment and management. High degree of reliability and stability of information on the real state of the assets will form the basis of new fintech-products and services for banks, leasing and insurance companies.
CONCLUSION
THE must.io decentralized platform is a unique blockchain-based project. This is a great alternative to existing banks and other credit institutions. To obtain financing, small businesses will be able to attract large investors, interested in their products. No fraudulent activity or problems — smart contracts are a guarantee of reliable, fast transactions.
This is a good ico , they have a strong team, clear and transparent project along with detailed roadmap. In my opinion, this is a ico worth the investment in 2018. , so let’s join now
For More Details
Website: https://must.io/
Bitcointalk : https://bitcointalk.org/index.php?topic=4509154
White paper: https://must.io/whitepaper.pdf
Telegram: https://t.me/must_en
Author -Hirusha Perera ( https://bitcointalk.org/index.php?action=profile;u=1824365 )
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