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3air crypto presentation with Sandi Bitenc CEO

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This is a transcript from our YouTube 3air video presentation:

Sandi Bitenc: 00:00

Hi, everybody, my name is Sandi Bitenc. I’m the CEO 3air and today I’m going to take you through our presentation.

00:06

I’m doing this now for the second time, the first time it took me an hour, but I really want to make this faster for you.

00:13

So first of all, a disclaimer, “This is not the investment advice, we are talking about a 3air, a utility token. That’s on presale right now. So, you can get it for a discounted price”.

00:30

I want to start off with you thinking just for a second, what you actually do with your internet connection, if you think about your phone is like useless without no connection, right and we are really fortunate that we have good connectivity but in Africa, about 80% of the people just don’t have any internet connection and the broadband connectivity, the ones that we really use for the most important stuff is actually below 1%. It is really far below 1% as you see.

01:10

So, in Africa, we actually have over a billion of people that’s without proper means of identification. There are a lot of stuff that we do, but they cannot, and we think that bringing internet to those areas will actually provide them with equal opportunities as we have.

01:10

What we want to do?

01:10

We want to bring high speed and stable Internet to Africa and with that we want to enable them to participate in the same digital activities as we do. So, it’s about digital entertainment, it’s about education, really important. It’s about the E-healthcare, it’s about banking, there are a lot of people that are unbanked, and providing people with identities can be done through the internet right now.

01:59

So how we do it?

02:01

We have a really cool technology at hand. So, we build up our base station and the base station is different than what you know from a mobile base station. So, it’s much faster, it has like 240 times the capacity of a mobile tower and it can connect up to 15,000 users that are 50 kilometers away, in the radius of 50 kilometers from the base station. And we can dedicate a speed of up to one gigabit per second to a user. So that’s the capacity where we are at.

02:44

If you compare it to mobile, mobile towers, they have a range of about one to two kilometers, they can connect maybe 200–300, maybe some 500 people, and then everything crashes together. So, what we’re offering is really incomparable.

03:05

Why is this important?

03:07

There is actually no broadband connectivity in Africa because they didn’t think about laying out the cable infrastructure when they were building the cities, the cities just expanded so fast that right now, no digging of trenches and lane cables is actually possible. So, it doesn’t look like anybody is really capable of providing big cities in Africa or any other developing country with really good broadband. So, this is how we do it over air.

03:46

As you will see, we actually done it already. So, we are present in nine countries already and in one we have a fully-fledged ISP and what we notice is that people are coming into our offices each month, because they need to pay. In Africa, a lot of people don’t have credit cards, they don’t have bank accounts and paying for services is really burdensome. It’s burdensome for us, because we actually need to get in sync clients and take manual payments each month and it’s also burdensome for the clients because they need to come to our offices to just to pay to have internet access.

04:34

So, we were thinking that we need to do something on that side, and we cannot bank people but what we can do is we can provide them with a blockchain solution that enables them to just pay from the comfort of their homes and we actually also want to provide the people there with digital identities.

04:55

There is a lot of issues with identities still in the developing countries and it’s not that unusual that somebody walks in with a business card, maybe even handwritten card to identify himself and that’s an issue.

05:11

With being without an identity, it’s not only that you cannot identify, but how you’re going to prove that you own let’s say land, or that you own a car or something like that, if you don’t have an identity, it’s impossible. It’s impossible to track your credit score, and so on. So that’s also what we want to do we want to collect the payments and the credit data, that’s usually used for calculating a credit score that you can actually get a loan. So that’s a big thing that we are also doing with our blockchain platform.

05:59

So, let’s talk about the market potential.

06:03

Our goal is to expand throughout Africa, and we have set up 12 countries that we already have some connections in order, we have the licenses already acquired. And we’re going to start with Nigeria.

06:17

Let’s just speak today a bit about Nigeria.

06:20

Nigeria, at the moment has a broadband penetration rate of about 0.04% and this actually translates to $153 million of yearly revenue. If we take this to 1%, broadband penetration, we get a revenue of about $3.8 billion yearly and if we take it to a world average penetration about broadband penetration, that’s really world average. So, the developing countries average is around 40%. With the world average, only Nigeria is doing 60 billion of turnover per year with broadband alone and that’s huge.

07:12

What competition do we face?

07:14

So, when in broadband as you’ve seen, there’s almost no broadband. So, we think that the market there is actually not taken but there are some mobile solutions that are coming that are trying to provide people with some data but even in the developing countries, you cannot right now just change broadband with mobile and in Africa, it’s even harder.

07:43

Why?

07:43

Because most of the connections are still either 2G or 3G. And have you ever tried doing some real work on 2g or 3g connectivity. Probably not. because it’s almost impossible. So 4g, where anybody can do at least a minimum is only 9%. Everything else is 3G or 2G.

08:08

So, in general, the data and connectivity that our competitor is offering is unreliable, slow and is really expensive and it offers cap data. So, what we are providing is fast and stable Internet, and we can provide it at a lower price, and we actually don’t have any cap data, you can use it as much data as you want.

08:39

As I mentioned, already, we’ve done it. So, we’ve set up our testing ground in Freetown, Sierra Leone, why we chose Sierra Leone, it’s actually a small city. It’s a small country. Freetown is a small city, it’s about a million people. And it’s really poor, even in regards to African standards. And that was a challenge for us. And it was also you know, the opportunity to prove that our system works. if something would go wrong, we also would minimize the damage that that’s done but nothing went wrong. Everything’s really perfect. So, we opened up in six months, we were connecting the first clients we are seeing 5% month on month growth there. Right now, we already have over 2000 paying customers that are paying on average $127 per month and that’s huge for such a country and it’s not all in retail. So, we have business clients that are paying a few thousand dollars per month for a dedicated broadband solution. The company by itself is already valued at $17 million.

09:59

Let’s talk a bit about the team. So, you got to know me and then there’s Davor.

10:07

Davor is our CTO. So, he’s the brains behind all the technology and behind all the IT.

10:15

Nejc is very well connected in the blockchain space, doing work with a lot of exchanges and launch pads and such stuff.

10:25

Domen is our lead crypto developer. He’s been working on a crypto exchange in the last years. And he’s also a Certified Ethical Hacker. So, he’s a lot into security, and privacy and such stuff.

10:44

That’s just our core team. So, with everybody counted any if we also count the Sierra Leone operations will be way above 100 people that are working right now and on the advisory side, we’re really well connected with Cardano. John O’Connor, you’re probably heard of him. He is the director of African operations for Cardano.

11:14

Dynal Patel is the Chief Product Officer for IOHK. So, for Cardano. They’re both on our team, we are working really closely with them together.

11:25

We have Denis Bolčina, and Idar Vollvik on as telecom advisors. So just they help us expand through Africa and to navigate in the telecom space.

11:41

As partners, of course, K3 Telecom is our big partner. We have partnered with CV Labs Dubai. So Crypto Valley, you know them probably from Switzerland from Zug, they’re probably the biggest community in the business crypto space.

12:06

We have partnered with AmaZix, they’re providing us with the whole marketing solution.

12:13

We’ve partnered up with the IT TIM global to help us with the telecom management system that we’re bringing on the blockchain and I already talked about IOHK or Cardano. They are really going and are focused on Africa, and we are very much aligned there because what we are doing is we are firstly connecting the people there so that they can do all the stuff that they’re planning with their blockchain. So, if you want to do something on the blockchain, you first need to have internet connectivity and that’s what we can provide to the masses in Africa.

13:02

A bit of a forecast. So, this forecast is really, really let’s say pessimistically done. So, what we’ve done is we’ve taken data from Sierra Leone operations, that’s our testing ground, there was no real marketing done, nothing. So, we are taking the growth there, and the adoption there and we are just translating it to the markets that we are planning to open. So, starting with Nigeria, DRC and so on. And just at this rate, it would take us to about 400,000 users by the year 2026 and to about $20 million of yearly revenue, just on the platform, our fees by the year 2026. And that’s not including any other token holders, any community token holders or whatever. And that’s also not including any potential partnerships with other telecoms and ISPs that we have in planned for the next years.

14:16

About our token omics So we set out to mint 1 billion tokens in all together and there will be no other option to mint any additional tokens so that’s a finite supply.

14:37

The seed sell is already closed. So, we sold the tokens in the seed sale, and we sold only 1% for one cent and now we are open for the private presale, round one at three cents and we just open it up and it’s already half-filled afterwards. We are going to the round two and three that are valued at four and five cents each. And on 12th of November, we are planning to start our public presale, that’s going to go at six cents per token.

15:19

Maybe a word about the token value, how it gets how the token gets value. So first of all, all the payments of all our digital services provided on the platform will have to go through the 3airtoken, so there won’t be any way around it. They will be staking incentives that are incentivizing early adoption, our loyalty system will be bound to the tokens and token holdings will enhance the discounts or the rewards in the loyalty system, the company may buy back some 3air tokens from its revenue. And those tokens are there, then given to the governments of the community. So, they might get either burned, or they might get used for funding some projects locally, that we’ll select, and we think that are really, really beneficial for broader community development.

16:31

Of course, we are thinking also about providing some micro loans. So, we have a whole team working on the micro loan section and their 3air tokens will be used for collaterals or cross collaterals, and so on.

16:47

So, these are just the basics. This is our minimum product that by itself is already really powerful, but our future vision is far broader. So, we have the knowledge in the telecom space, in the broadband space in the blockchain space and we think that we can combine this really good into a really cool product, a revolutionary product that’s going to change how we actually think about acquiring broadband services or mobile services.

17:22

We are going a bit into broadband bandwidth tokenization trying to enable secondary services and with that, providing some fair pricing to everybody involved actually, and also, telecoms are really strictly regulated companies, and they need to report if needed, and or they need to have some fraud prevention features and so on. And blockchain is actually perfect for solving those issues. Also, with maintenance and third-party, third-party maintenance, teams, it’s really amazing but you can actually do and IoT and roaming and so on.

18:08

So, there’s so much stuff that we actually want to do, and we think that we really can do really good especially when we have already a working platform and then upgrading in and then we are expanding and opening up to all the global telecom and broadband providers.

18:28

So that’s it for my side for today.

18:32

I would suggest you go to our website 3air.io all the information is there if you want to participate, if you want to be part of the community, if you just want to help us with getting this solution to Africa and changing some life there or you want to change maybe also your life, everything is there what you need to know follow us on the social media platforms. We are present on almost every platform, but we are focused on Twitter and on Telegram. So, find us there and I hope to see you know on our weekly AMAs maybe. You know we are doing our weekly AMAs starting on October the 27th 5pm central Europe time and of course on YouTube.

19:39

Bye guys.