In GegoSoft, we like to explore new software trends and understand them and build solutions on them. One of the buzzing software trends in 2021 is Smart Contract MLM Software. In this blog post, we like to analyze the term and present it as simply as possible.
What is MLM Software?
MLM Software is the tool, which streamlines and automates the key process of Multi-level Marketing business include recruitment of network members, network business model management, network genealogy, sales process, commission distribution, member ranking, member achievements, ranks, rewards, promotion, and payments. The modern-day MLM software also features KYC Modules, Support Desk Module, and handles tax and CRM activities.
What is Smart Contract MLM Software?
Smart Contract MLM Software is the tool, which uses a Blockchain Smart Contract (Ethereum or Tron based smart contract ) and traditional database application for performing Multi-level marketing activities.
Blockchain Smart Contract takes care of enrollment, network genealogy, ranks, commissions and payouts. Whereas the database based web application, takes care of CRM, Support Desk and other member activities.
As of 2021, Ethereum based Smart Contracts and Tron based smart contracts are largely used for MLM Software development.
What is the advantage of Smart Contracts in MLM Software?
The key advantage is the transparency in the member genealogy, ranking, level commission distribution, and pay-out automation. The smart contract also ensures automation, error-free, and completely auditable solution. Check out our other blog post on Bitcoin MLM Software, which details the advantages of Blockchain technology advancement in the MLM Industry.
Who can develop the smart contracts for MLM?
MLM smart contracts are relatively complex, but any experienced Blockchain Development Company can develop them. The key thing to consider is the security and the contract should be audited by a specialist Smart Contract Audit Company to ensure the prevention of hack.
How much the Smart Contract MLM Software will cost?
Generally a well developed Ethereum / Tron Smart contract based MLM System will cost around 6000 USD to 7500 USD. The cost includes the development of smart contract and building the web application to support that.
There are lot of freelance or small web developers, who promise to do smilier work for few hundreds. But those solutions and support may not be reliable. If you are looking to start your own MLM website and wish to implement smart contracts, contact our support team. Our team will send you detailed features list and custom quote.