With new use cases, emerging services on decentralized networks enable a future where the Internet is more equitable and accessible than ever.
The capabilities of smart contracts make the world of cryptocurrencies a better place. With new use cases, emerging services on the decentralized web make the Internet of the future fairer and more accessible than ever.
For many people who live and work in places with high Internet penetration, a fast Internet connection is a part of everyday life. Any device you own can be connected to Wi-Fi or broadband, be it a phone, a tablet, a computer, or any other IoT device. You pay a subscription for your home internet and your phone, maybe even on the same contract. In these countries, especially in metropolitan areas, the Internet works and you can connect almost anywhere.
Connectivity in African Countries
This is not the case for connectivity in Africa. Only 22% of Africa has Internet access, which is significantly lower than most other parts of the world. Cities and coastal areas are often the only places with good internet access, and wireless access is expensive across the continent. Even if you have internet service, it can be notoriously unreliable or just plain slow and out of date.
More and more companies are trying to close this gap. A company called 3air is working to bring high-speed broadband Internet access to African countries, bringing nearly a billion unbanked and unconnected people to the web3. The company is one of many startups using smart contracts in traditional industries.
Connectivity and Blockchain
3air aims to bring Internet development in sub-Saharan Africa up to modern standards. Using K3 Telecom’s Last Mile technology, it will deploy Internet centers in the main cities of the continent. According to the company, the technology has been proven to work and will be rolled out in nine countries on three continents.
To offer the service, the company will use an NFT-based subscription model that allows users to transfer and sell their services as needed without going through contracts that would otherwise lock them in for years. NFTs are not just used to sell expensive images; they are intended as unique identification tokens that can digitally assign ownership.
When NFTs are used as a subscription model, customers purchase a token that provides them with internet services. Users are free to use the tokens at will; if they no longer wish to pay for the service, they can sell them on a decentralized market or transfer them to other owners, such as family members.
Global Solutions for Local Challenges
Additionally, the 3air Blockchain features a community-focused token that allows subscribers to vote on where they want their money spent, giving them direct input into how their community grows.
Africa is plagued by another problem: a large proportion of people who are unbanked; it is far much more difficult for them to be without having a bank, paying service fees, getting loans, and saving money. In Africa, 350 million people do not have access to any bank, including mobile banking.
With this in mind, 3air aims to provide decentralized finance on its Blockchain through microfinance. This microfinance will provide users with checking and savings accounts, microcredit for businesses to set up, and business education for clients to develop their businesses as they wish.
When investing in any venture, it is the responsibility of the interested party to seek alliances with web3 companies that offer solutions to real-world problems, so it is essential to stay tuned for information such as the one shared here.
By Audy Castaneda
