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Let’s start this out by saying that we love the discussions that are happening in our community. New members join our Twitter and Telegram channels every day and want answers to questions that we previously didn’t think to answer in detail.
One of these questions is why 3air is building out a platform with its own token on the blockchain. It’s a great question and this article helps to outline our reasoning.
What is 3air?
3air is a new generation Internet operator that brings high speed broadband connectivity to cities and rural areas through its own wireless spectrum. It also provides a full suite of value-added services including IP telephony (voice calling) and digital TV.
In the long-term, the 3air platform will enable users to create and manage their own digital identity to access services like banking, education and e-health.
3air has placed its focus on the African market where the goal is to bring high-speed Internet at affordable prices to currently underserved areas. To do this, we partnered with K3Telecom, a leading local player that is revolutionizing how Internet is delivered to users in areas where there is a lack of proper infrastructure and cabling to deliver good Internet.
While this is all clear, let’s talk about how blockchain relates to all this and why 3air is building a blockchain network with its own $3AIR token.
How does 3air relate to blockchain and cryptocurrency?
Blockchain is an open source distributed ledger which allows anyone to add information or data to it. This information cannot be altered once added, making it immutable. The blockchain uses cryptography to secure transactions and provide privacy enabled transparency into who owns what. These characteristics make blockchains incredibly useful for many industries, especially those that need to maintain trust between parties. For example, if you wanted to transfer money from one person to another without any middlemen involved, then a blockchain is ideal.
3air uses blockchain to ensure that all transactions within the 3air ecosystem are transparent and secure. All payments made within the 3air ecosystem will be recorded on the blockchain. In addition, the blockchain will allow 3air to reward users for participating in the ecosystem.
Connecting users to high-speed Internet is only one part of the cake. 3air’s mission is to enable anyone who is connected to the Internet to have a verified digital identity.
Why? A digital identity will give users access to opportunities that were previously out of reach. With a verified identity, users can create bank accounts, conduct business locally and internationally, and perhaps take out loans to start businesses and grow their local economy.
We believe that once you give people on the ground the means to earn, work and invest, you solve a lot of the issues that many developing countries have.
Why use a blockchain instead of a centralized database?
A blockchain is different than other databases because it is decentralized. When you store your personal information in a traditional database, someone else controls that information. If that company goes bankrupt or decides not to share your information, you lose control over your data. However, when you use a blockchain, no single entity controls the entire network. Instead, a community of people run the network and everyone can see every transaction that takes place.
This means that even in the worst case scenario of someone stealing your computer, they won’t be able to alter past transactions. 3air believes that this security model makes it more reliable than traditional payment and data management systems.
What is the utility of having token?
The $3AIR token has two primary functions within the 3air ecosystem:
- It acts as a currency used to pay for services within the 3air ecosystem.
- It serves as a voting mechanism for guiding the 3air ecosystem.
3air aims to be fully decentralized with time. Several blockchain networks have proven that even projects at the largest scale can become effectively decentralized. We fully believe this is the future of organizational structures.
The community pool is our way into decentralizing 3air. 3air could regularly provide funds to the community pool. The funds may be provided through a smart contract as a fraction of the fees collected from the platform transactions.
There are many other utilities for the 3air token such as the option to get free hardware, collateral for loans, token buybacks and powering of the bandwidth sharing model.
Why do we need a token at all?
If you look at our explanation, you’ll notice that each function of the 3air ecosystem requires tokens. Tokens act as a way to pay for things like paying for monthly subscriptions to Internet and TV services, digital identities, staking, rewards, loyalty systems and the referral system.
It will also serve as a way to vote on decisions in the 3air ecosystem. Without the use of tokens, we wouldn’t be able to offer all of these features.
How do tokens help decentralize the 3air platform?
As mentioned above, the aim is to have 3air not controlled by a central authority. Instead, the 3air blockchain is managed by a community of people who run the network. This means that there is less room for corruption and fraud since no single entity is controlling everything. We believe that this will increase trust in the network, which in turn will make it easier to grow the rate of adoption in all of the countries we roll out to.
In addition, the $3AIR token gives users the ability to participate in the decision-making process of the 3air ecosystem. By holding onto their tokens, users will be able to make community decisions to shape the future of the network and get the quality service they expect.
Why you should consider joining 3AIR
In summary, we think that using tokens will allow us to create an effective and efficient platform that will benefit the user base, as well as people who want to be part of the project with its huge market potential.
What are the benefits of being part of the 3air community?
For token holders
- You become part of a community of people who are passionate about 3air’s mission to connect the unconnected
- You will tap into a market with huge (seriously huge) growth potential
- You will get rewarded with $3AIR tokens for referring friends to join
- You can stake your tokens against rewards
- You will be able take part in the governance of the 3air project by voting on important issues.
For users of the platform — everything above, plus:
- You will get fibre-grade Internet with speeds up to 1GB per second
- You will be able to create your digital identity that gives you access to online banking, education, health and more
- You receive discounts on subscription packages
- You will be able to influence the direction of the 3air project. For example, you will be able to suggest new features to improve the experience for users.
Want to learn more?
If you’re interested in getting into all the details of how the 3air platform works, we recommend reading our Whitepaper. To participate in discussion around 3air and get to know other users, follow us on Twitter or join us on Telegram. See you there!
3air is a decentralized telecom platform connecting people of Africa with broadband. Please visit 3air.io for more information.