Crypto is changing the way people connect to the Internet

Smart contract capabilities changed the crypto world for the better. With new use cases, emerging services on decentralized networks enable a future where the internet is fairer and more accessible than ever before.

For many people who live and work in places with high internet penetration rates, fast internet connections are a given part of everyday life. Any device you have can connect to Wi-Fi or broadband, whether it’s a phone, tablet, computer or other IoT device. You pay for a subscription for the home network and your mobile phone, which can even be combined in the same contract. In these countries, especially in metropolitan areas, the internet just works and you can connect almost anywhere.

Connection in African countries

The same cannot be said for connectivity across Africa. Only 22% of Africa has internet access, which is significantly lower than most other places around the globe. Urban 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 Even if you have internet service, it can be notoriously unreliable, or just plain slow and outdated.

There are a growing number of companies trying to bridge this gap. A company called 3air is working to bring high-speed broadband internet access to African nations and onboard nearly 1 billion unbanked, unconnected individuals to the web3 space. The company is one of many startups that use 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 major cities across the continent. According to the company, this technology has already been proven to work and deployed in nine countries on three continents.

To deliver the service, the company will use an NFT-based subscription model, allowing users to transfer and sell their service at will without having to work through contracts that would otherwise lock them in for years. NFTs are not only used to sell expensive photos; they serve a purpose as a unique identifier token that can digitally designate ownership.

When NFTs are used as a subscription model, the customer buys a token and it gives them internet service. Users can use the token as they wish; if they no longer want to pay for the service, they can sell it on a decentralized marketplace or transfer it to another owner, such as a family member.

Solve local challenges with global solutions

In addition, 3air’s blockchain has community-focused tokens, which allow subscribers to vote on what they want their money to be spent on, giving them a direct voice in the development of their community.

Africa is plagued by another issue; the significant proportion of unbanked individuals. Paying for services, getting loans and saving money is much more difficult without a bank. In Africa, 350 million individuals do not have access to any bank, including mobile banking.

With this in mind, 3air aims to offer decentralized financing on its blockchain through microfinance. This microfinance will provide users with checking and savings accounts, provide small loans for businesses to get back on their feet, and provide customers with business education to promote their own enterprises as they wish.

We’re always on the lookout for web3 companies that offer solutions to real-world problems, so we’ll be keeping a close eye on how they’re doing.