Billions of people are on the periphery of the internet, shut out from the Web3 revolution by three simple hurdles: no connectivity, centralised censorship, and lack of finance. This is where Spacecoin comes in, addressing all three. Its strategy is to orbit fleets of 5G nanosatellites (a DePIN) that radiate crypto-friendly internet to any device. By taking the network literally out of Earth, Spacecoin can serve the 2.9 billion people who currently have no dependable access to the internet. In practice, this means that mobile devices and simple modems, anywhere, can connect instantly to the blockchain network – no cell tower or fiber cables needed. 5G nanosatellites 5G nanosatellites For the low price of $1-2 per month, “the price of a coffee”, Spacecoin aims to serve emerging markets, offering internet access to areas where affordability is an issue. By leapfrogging ISPs, Spacecoin’s satellites will effectively be sky towers that “connect everyone and everything”. $1-2 per month, “the price of a coffee” Satellite Network & Direct-to-Device Access Satellite Network & Direct-to-Device Access Spacecoin's architecture also removes centralised censorship. Its "Spacechain" protocol, governed by blockchain, means that no central agency can switch the network off. With this design, each satellite and each router is an open node taking part in consensus. Smart contracts on Creditcoin's blockchain handle transmission of information, payment and even service offers. The result is a trustless, open network: if a government or a telecom tried to block a piece of information, the decentralised mesh just routes around it. As one press release claimed, "Spacecoin's blockchain-powered architecture ensures that no centralized authority controls the network…no telecom provider or government will be able to censor or shut it down". This resistance to censorship means that Web3 apps on top of Spacecoin are accessible at all times, a fundamental condition for the permissionless Web. Creditcoin's blockchain Crypto-First Financial Access Crypto-First Financial Access Spacecoin is "crypto-first" by nature, dismantling financial boundaries. Users purchase internet service in cryptocurrency, not local banks. This country and bank-agnostic fee structure in a blockchain-native environment removes country borders and banking prerequisites. The unbanked are welcome, too: Spacecoin intends to allow users to create an on-chain credit history just by serving up network usage. (e.g., a rural Indonesian entrepreneur would earn spacecoin tokens, use a few to cover monthly data costs, and thus build credit on-chain.) The ecosystem even includes buy-now-pay-later financing (Credal) to allow low-income users to begin accessing the web without cash upfront. Put simply, Spacecoin's model transforms a phone into both an internet terminal and a cryptocurrency wallet. This leverages the direct use of existing crypto in emerging markets. No bank account or credit card is required for people with a smartphone to enter the network economy. No bank account or credit card is required No bank account or credit card is required Real-World Impact: Onboarding Millions to Web3 Real-World Impact: Onboarding Millions to Web3 In practice, lifting these barriers would unlock Web3 adoption. A rural Indian student or African farmer who had no internet access can now, because of a Spacecoin link, use decentralized apps (DeFi, learning, supply-chain apps) for the first time. They may send crypto, use a wallet, or enter an NFT marketplace; activities that were unthinkable without dependable net and financial on-ramps. Spacecoin is centered around three main pillars: Connectivity: The Spacecoin's LEO satellite creates global 5G connectivity and gives the 2.9 billion unconnected people internet. There are no towers and cables needed – the satellites act as wireless base stations. The network is "fully compatible with all the latest devices" (Samsung, Apple, etc.) out of the box. Connectivity: The Spacecoin's LEO satellite creates global 5G connectivity and gives the 2.9 billion unconnected people internet. There are no towers and cables needed – the satellites act as wireless base stations. The network is "fully compatible with all the latest devices" (Samsung, Apple, etc.) out of the box. Censorship Resistance: Through the use of blockchain governance, Spacecoin puts power in users' hands. "Physical decentralization removes one from being dependent on central authorities", thereby making outages and censorship extremely difficult. When one node goes dark, others continue to keep information flowing. Censorship Resistance: Through the use of blockchain governance, Spacecoin puts power in users' hands. "Physical decentralization removes one from being dependent on central authorities", thereby making outages and censorship extremely difficult. When one node goes dark, others continue to keep information flowing. Financial Access: Fees are paid in cryptocurrency using Creditcoin smart contracts. You are able to make payments in on-chain tokens anywhere on the planet without the need for a conventional bank. The unbanked end up accumulating credit by just buying Spacecoin internet. The end result is permissionless financial inclusion at internet speed. Financial Access: Fees are paid in cryptocurrency using Creditcoin smart contracts. You are able to make payments in on-chain tokens anywhere on the planet without the need for a conventional bank. The unbanked end up accumulating credit by just buying Spacecoin internet. The end result is permissionless financial inclusion at internet speed. Demonstrating one concrete use case, Spacecoin founder Tae Oh writes: "The internet is the most addictive substance… once it is available to people in yet-to-be-connected areas, I think they will do their best to get access to it… the product will sell itself". Indeed, analysts project that Spacecoin may reach 10 million Indian, Nigerian, and Indonesian subscribers because of its $2/month package. Each subscriber connected to Spacecoin's network represents a possible new crypto user, voter, coder, or consumer in the Web3 ecosystem. Token Incentives & Network Effects Token Incentives & Network Effects Spacecoin's design also supports network effects. The token reward system (including community airdrops) increases early adoption and market growth. Take Spacecoin's recent community initiative, in which they distributed free tokens to holders who engaged, thereby promoting word-of-mouth and aligning incentives around growth. And by being built on Creditcoin, each connection and payment is on-chain and transparent, bolstering trust. Ultimately, billions that were hitherto offline and are now entering the Internet will entice more builders to develop Web3 services (from peer-to-peer remittance to blockchain telemedicine) for those new markets. One analyst who covers blockchains sums up thus: "Spacecoin's larger vision is aligned with the core principles underlying Web3; decentralization, ownership by users, and global accessibility", aiming towards "a robust, censorship-resistant Internet that's accessible even in rural areas". token reward system token reward system Conclusion: The Missing Infrastructure for Mass Web3 Adoption Conclusion: The Missing Infrastructure for Mass Web3 Adoption In a nutshell, Spacecoin literally delivers the missing infrastructure for mass Web3 adoption. By broadcasting low-cost 5G beamed down from space and taking a crypto-native payments ecosystem, it lowers the entry bar to zero for billions. The unconnected villagers, refugees, and frontier entrepreneurs across the globe might be able to experience free access to all Web3 tools by simply bringing a Spacecoin link in range. As SPACEcoin and its collaborators, like Creditcoin, highlight, connecting these 2.9 billion people to the Internet might "unlock a digitally-inclusive future" for nearly 37% of humankind. With more people trustlessly online, the decentralized web finally gets a chance to reach its global audience, and blockchain adoption is sure to skyrocket accordingly.

The is an opinion piece based on the author’s POV and does not necessarily reflect the views of HackerNoon.

This story contains AI-generated text. The author has used AI either for research, to generate outlines, or write the text itself. 

UNUS SED LEO

Spacecoin

Apple

Read My Stories

Too Long; Didn't Read

CTA: Download the FREE AI Productivity Shift report

Spacecoin: Beaming Web3 Access From Space for $2 a Month

About Author

Comments

TOPICS

THIS ARTICLE WAS FEATURED IN

Related Stories

Untitled Story

The Lost Dream of a Free Internet & How Spacecoin is Reviving it

The Internet Is Rigged, Only Decentralization Can Fix It

The Internet is Great, but Web3 is Better!

Can a Decentralized Internet Truly Eliminate Censorship? Share Your Thoughts to Win from 15,000 USDT

Space as Infrastructure: Reimagining Connectivity with Spacecoin

The Lost Dream of a Free Internet & How Spacecoin is Reviving it

The Internet Is Rigged, Only Decentralization Can Fix It

The Internet is Great, but Web3 is Better!

Can a Decentralized Internet Truly Eliminate Censorship? Share Your Thoughts to Win from 15,000 USDT

Space as Infrastructure: Reimagining Connectivity with Spacecoin

Light-Mode

Classic

Newspaper

Dark-Mode

Neon Noir

Minty

HN StartUps