Blockchain Powered Smart Contract in MLM Business-OG Software Solutions
Network marketing, also known as multi-level marketing, is a business model that involves a pyramid structured network of people who sell a company’s products. The users in this network are usually rewarded on a commission basis. That is, members in this MLM platform get a commission every time they perform the specified task, like – Make the sale of a product. Their members make a sale of the product. In simple words, this MLM business model involves a pyramid format of non-salaried participants who get paid whenever they or a person below them in the pyramid makes a sale. Blockchain-Powered Smart Contract in MLM Business? The blockchain is a platform-like technology that covers of a decentralized ledger that records, verifies, and tracks cryptocurrency transactions and smart contracts between parties. Blockchain-based or decentralized MLM business, in turn, are peer-to-peer networks that directly connect members without any intermediaries. Since a...