Multi-Level Marketing (MLM) is a marketing strategy that is a sort of traditional marketing because it is held by mouth referring to others. Thus, because of this, it is also known as ‘Referral Marketing’. This kind of marketing motive is to sell the products directly to the end-users from the wholesaler, which makes it very easy to gain the trust and profit from customers. From one person it spreads to another and forms like a network that starts to play a vital role in the market, to sell the products and to get a trademark.MLMs are preferred with Smart Contracts as it provides high security and also removes the involvement of centralized authority. Smart Contract MLM brings trust among the users which reduce the risk.
By using smart contract MLM software, one can save a lot of time, money, and effort. Can choose compensation plans based on their business model and make changes to the smart contract MLM platform to make it unique to their business.
Types of MLM Plans for Business
There are few MLM plans to amplify the growth of the business, which can be used as add-ons. They are,
• Bitcoin MLM PLan
• Broadplan MLM plan
• Binary MLM plan
• Generation MLM plan
• Crowdfunding MLM plan
• Australian Binary
• Stairstep MLM plan
• Unilevel MLM plan
• Investment MLM plan
• Matrix MLM plan
MLM Software Tamilnadu supports all types of MLM business plan and provides the best smart contract development and smart contract audit services for different MLM business.
Smart Contract Based MLM
Smart Contract based MLM is a completely Decentralized MLM Platform built using Blockchain Smart Contracts. MLMs are preferred with Smart Contracts as it provides high security and also removes the involvement of centralized authority. Smart Contract MLM brings trust among the users which reduce the risk. The Smart Contract MLM Platform is configured with different MLM Plans that offer members who joining the MLM scheme to earn Cryptos as rewards by referring a new one to join the platform. These MLM Platforms are Mostly developed on Blockchain Network such as Ethereum, Tron, etc which in turn allows users to earn ETH or TRX using this referral program.
Powered with blockchain technology, smart contracts are of intense interest to businesses as it provides high security and transparency. A smart contract is a computer protocol planned to digitally facilitate, verify, or enforce the performance of a contract. Smart contracts allow the performance of credible transactions without the involvement of third parties.
When MLM Platforms are Used with Smart Contract, it automates the processes performed on the MLM platform and reduces the effort of humans and also helps to solve the issue of mistrust among the users which was a great inefficiency in Traditional MLM. Thus Smart Contract based MLM business allows gaining trust among users while enhancing transparency.