Blockchain Technology Will Change The World
Those who follow my tweets or have seen the recent write-ups on Game Theory Group might be excused for thinking of me as a crypto-skeptic. I definitely don't always look at the space through rose-colored glasses.
Which is why when I run across a blockchain-based company blending a sharp focus to change the world with a realistic chance of getting there, I sit up and take notice.
We recently wrote about several companies that we are actively taking a deep dive into. We're looking at companies with product(s) ready to enter the market, a team of proven entrepreneurs, and significant ICO dollars to fund their expansion and maximize the chance for success.
OK -- let's talk about the blockchain iteration of something I am extremely excited about: mesh networks. An internet with no "off" switch.
One of the companies on our list that I am most excited about is RightMesh.io. RightMesh is on course to have a successful $30 million dollar ICO, which will provide them with much-needed capital to deploy their already-built technology. This technology allows Android phones with no data to connect to each other through Wi-Fi or Bluetooth by using the RightMesh software.
These phones don't just connect one to one, they connect to every phone enabled with the RightMesh technology in the area -- creating, first, a large intranet for quickly transferring data between connected devices, and eventually a general purpose internet if one or more of the mesh nodes on the network already has connectivity to the internet.
There are over 4 billion people in countries like China, Indonesia, Brazil, and Bangladesh that are unconnected to the internet. They either don't have access to a data plan, or can't afford to pay a premium for it. And this is where the blockchain component makes all the difference, in two key ways:
- The blockchain is used in lieu of an IP Address (because the device is not connected) to identify the varying nodes on the mesh network
- To incentivize those with extra device resources (call it extra internet) to sell that excess to unconnected folks -- in exchange for some amount of MESH tokens.
Basically, a disconnected and unbanked person with a MESH token distributed to them by an aid vendor, worker, municipality, or even regional advertiser could get online anytime they want.
With RightMesh, people without dependable or affordable internet access will be able to download and use online services, and they will have access to digital alerts for natural disaster and disease warnings.
As some of the techies reading this know, mesh networks are not a "new" concept. But in the past, mesh networks have been used largely to eliminate dead spots in the home, or in limited distribution across a small region. There was no incentive for large-scale use, because most advanced countries have pretty solid access to the internet. Leveraging a blockchain to securely micro-transact, and adding in the token incentive to do so, means that the entire paradigm could change at an enormous scale if the project hits critical mass.
Additionally, even those with access to traditional internet services are not always protected. In places where a country can arbitrarily shut down its own internet (China, Iran, Syria, India, North Korea), these people will have an alternative way to stay in communication with the outside world and with each other.
As part of our upcoming video series, we'll be doing deep dives with the founders and investors behind this and other companies looking to change the world.
Our conversation with the founder of RightMesh.io is scheduled for the end of January. Don't miss out on the exclusive content!
Disclaimer: I currently hold no MESH tokens but plan to buy.