Smart contracts, blockchain, and crypto technology have been impacting and influencing almost every field we have known. Multi level marketing or MLM as it is commonly abbreviated has also been bitten by the blockchain bug.
Forsage is one such MLM that has not only been created and managed completely on the blockchain but also has found considerable success. To understand how and why, we will need to understand the basics of the MLM business and the way it functions, and the attributes of blockchain technology that make it the ideal candidate for powering MLM businesses.
What is an MLM?
As the name implies, multi level marketing is a method of marketing and selling on a network of people. Instead of having an organizational structure, an MLM has layers. A member of the MLM scheme recruits people under them, and this process continues.
At the epicenter of any MLM lies selling and profit. For every product or service that anyone sells, they make a commission. However, in addition to that, all the people in the layers above that person who made the sale also get their commissions. As you can input, the magnitude of profit not only lies in the volume of sales that a person makes but also In the number of people that they have in their network.
The challenges
MLM businesses have always been marred by scams. While it is true that some MLM businesses that started with malicious intentions, even the genuine MLMs suffer because of this dubious attribution. Another reason that a genuine MLM might acquire this image is because of the uncertainties and discrepancies in the payment of commissions.
When a sales commission is paid, it is not just about the person who made the sale but also all the other people in the levels above them who were responsible for the recruitment of that particular member. Sometimes, this tracing becomes a challenge, especially when the MLM is extraordinarily large. Because of the inefficiencies of the banking system and the consequent delays, the MLM industry also has problems with the payment of commissions. Sometimes, both of the above errors happen because of human intervention.
Introducing the blockchain
Blockchain, as you all may have known, is a decentralized digital ledger with appealing attributes like immutability, security, and transparency. If we were to look at the challenges faced by the MLM industry, the blockchain can be the silver bullet that the MLM industry was looking for.
However, not every blockchain can fit into this group. When it comes to customizability, Ethereum beats the flag ship bitcoin by a considerable margin. TRON, one of the derivatives of Ethereum is looked at as the go to blockchain for powering multi level marketing businesses.
What makes the entire MLM ecosystem efficient on the blockchain is the smart contract. A smart contract is a program that is designed to self execute upon certain conditions being met. A smart contract can be used to fulfill transactions, enable access, and even initiate certain high-level activities that impact the entire network.
Enter Forsage
Forsage is one such MLM that runs completely on the blockchain. To start with, Forsage, like many other blockchain projects, used Ethereum. However, slowly, they shifted to TRON because it can handle more transactions per second.
Forsage is, in essence, a smart contract based MLM that runs on the TRON blockchain. The smart contract takes care of all the aspects of the MLM including but not limited to payment of commissions, fluctuation of crypto values, attribution of new members to specific people on the network, and keeping the entire system secure.
Forsage, like any other MLM, enables users on long-term residual income through a referral system. This referral system follows multiples of three. Every user is required to refer three people into the network and the cycle continues. There are no limits, pressures, or targets, and anyone can work [or choose not to work] in their free time.
Everything about Forsage is on the blockchain and it includes transaction history and records. This brings in two contrasting advantages. On one side, the entire project becomes accessible to anyone and people can be assured that these records have not been altered in anyway because of the immutability of the blockchain.
You can become a member of Forsage for a charge as low as 0.05 ETH which amounts to about $67. This is a welcome move because in most cases, MLM businesses were unaffordable for common people and they also came pre-packed with performance pressures and targets.
You can access Forsage on both desktop and mobile interfaces. On the desktop, you are required to use a wallet like MetaMask. On mobile, you will need to download the mobile wallet called TrustWallet. This mobile app is available on both Android and iOS. You will need to input the referral code correctly, so your membership can be attributed to the right person who referred you.
One of the biggest selling points for this MLM is that it is fail-proof. Since there is no centralized point of authority, there is no centralized point of failure either. The MLM will continue to function even if the founding members were to move out of the network. The MLM also makes a lucrative earning opportunity on the blockchain.
The relevance of Forsage Clone
The success of Forsage has established a solid case for the dependability of the blockchain for MLM businesses. This has prompted a lot of crypto entrepreneurs to consider starting their own smart contract MLM like Forsage.
Building an MLM on TRON or any other blockchain for that matter from scratch would be a cumbersome undertaking. As an effective alternative, you can make use of a Forsage Clone script. A Forsage MLM Clone Script is highly customizable and can be made to bear the features of your choice.
The features of our Forsage Clone
A Forsage Clone Script should have an admin panel and of user interface. The administrator panel should be able to handle millions of users while at the same time, transparently and efficiently track user transactions. The system should be integrated with a secure cryptocurrency wallet, and should also have multiple matrix schemes.
For the user, the payments should be fast and secure. They should be able to view all the transactions on a user-friendly and intuitive interface. The users should be presented with an opportunity to perpetually and revenue and also increase their earnings through referrals and records.
In all these cases, security is of paramount importance. The entire system should be completely decentralized and should run using smart contracts on a blockchain like TRON or Ethereum that ushers an uncompromising degree of transparency and anonymity.
Conclusion
Now that the profitability and relevance of a blockchain-based Smart Contract MLM like Forsage have been established, all that is left for a crypto entrepreneur to do is to approach a company that specializes in the creation and customization of a Forsage Clone.
When doing so, there are certain factors like the support provided by The company and the cost of the trans-MLM Clone script that need to be taken into consideration. Once you have zero down on the company and have shared the business requirements, it is just a matter of time… A really short time before they present you with a perfect smart contract MLM solution like Forsage.
