With so many crypto startups on the horizon, picking the most promising ones has proven difficult. So many offer promising solutions but often fall short in execution either due to a lack of funding or because the problems they solve are not wide enough problems yet. As Web3 grows, demand for these projects will too. Several crypto startups promise to offer solutions to real problems that millions of people face today. Among those companies are 3air, a telecom and DeFi company that will connect millions of unconnected individuals in Sub-Saharan Africa while providing access to DeFi protocols that can bank the unbanked—addressing two major issues for the region.
A scope of Africa’s connectivity and banking issues
Internet access in the Sub-Saharan region is sparse; the continent has some of the worst internet penetration rates. Only 30% of this region’s population is online today, likely due to a lack of access to connectivity in the region and the fact that connectivity is expensive due to its scarcity. This lack of access to the internet has left millions of people out of the global economy without access to advanced healthcare, education, and business opportunities. Providing global equity means enabling widespread access to fast and affordable broadband internet.
Without internet access, a significant portion of the African population does not have access to banks and financial services. Banking services are needed to pay for current Web2 internet services and buy and sell goods online. Loans are needed for creators and businesses to be able to get on their feet and survive through difficult times. 63% of Sub-Saharan Africans have no access to these in any shape or form, whether online or in person.
Solving the problem
3air will provide these services with a wireless mesh technology known as “K3 Last Mile.” Developed by K3 Telecom, this technology already has widespread use in three continents and nine countries. With its large range of 50 km, these centers can provide high-speed broadband internet in areas of the continent that may otherwise be unreachable with broadband technology or conventional cell towers. These centers can be built anywhere and are fully capable of providing the internet to the next billion users.
After establishing internet connectivity, 3air onboards users into the Web3 space with NFT subscriptions. The company’s platform offers more than just internet service, however. Its tokens will also provide microfinance services to its user bases, such as microloans and cryptocurrency wallets. These financial services function as an alternative to banks, allowing users more freedom over how their money is used without worrying about the stability of a government-backed currency.
Connecting the unconnected
By connecting millions of unconnected individuals, 3air addresses issues that directly affect people today using advanced technology offered through blockchain. For investors, companies like 3air represent a small handful of web3 companies looking to solve issues created in web2. These projects aim to address inequality directly and can help make the world a better place by offering financial equity to millions of people that have been left behind thus far.Estimates show that connecting Africa represents a potential economic growth value of over $180 billion. Some estimates cannot calculate the true value of bringing millions of unconnected individuals into the global economy. For investors, looking toward the unconnected as an opportunity for growth can garner big returns, and 3air is doing that with the power of blockchain.
