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Bandwidth as currency – a project by GIANT Protocol

Wednesday 24 November 2021 13:19 CET | News

GIANT Protocol has made its public debut with the announcement that it is developing a Web 3.0 protocol to decentralise and democratise access to the internet and financial services.

 

The tokenised bandwidth platform will allow anyone with a mobile phone to access the internet and earn rewards based on their connectivity. As Suruchi Gupta, founder and CEO said, GIANT was set up to to bring blockchain and Web 3.0 benefits to the masses through the creation of a global telecommunications layer built on the blockchain that turns our phone numbers into wallets and mobile minutes and mobile data into real world value for users. 

By transforming bandwidth into a virtual currency, GIANT wants to make it easy to use, own, acquire cryptocurrencies and access new Web 3.0-based financial services. 

The conventional model to build a Global Connectivity Economy would require multiple competing mobile network operators (MNOs), banks, as well as governments with conflicting interests to co-operate, making it practically infeasible to exist, as representatives say. GIANT’s vision is turning internet connectivity into a digital asset and creating a new Web 3.0 layer, which will align incentives of all parties, enable the formation of a Decentralised Connectivity Economy that is open to all, seamless and secure by design and governed by the community. 

The project partners with telecommunications companies and connectivity providers worldwide to create a distributed connectivity economy that tokenises bandwidth. As such, GIANT will hopefully serve as a global enabler of decentralised financial services via connectivity as a digital asset of value.


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Keywords: Web 3.0, fintech, DeFi, cryptocurrency
Categories: Blockchain & Cryptocurrencies | Cryptocurrencies
Countries: World
This article is part of category

Blockchain & Cryptocurrencies