Scott Sigel, COO of the Helium Foundation, joined Keith Black, Managing Director of RIA Channel, to discuss how crypto tokens provide incentives to build Internet of Things (IOT) and Decentralized Physical Infrastructure Networks (DePIN).
The Internet of Things provides metrics that facilitate the analysis and control of real-world applications, including supply chains, food temperature, air quality, and fire and flood protection. It has historically been difficult to build IOT networks, as the small bandwidth needed for sensors has not been a priority for large telecom companies.
DePIN is a subset of the crypto ecosystem, where owners of physical infrastructure assets are paid in digital tokens to provide services. A DePin can be viewed as building a new public utility. The Helium Network was started as a way to provide ubiquitous wireless service to these low-power, long-range sensors. Participants in the people’s network install a Helium Hotspot and earn tokens for proving they are providing wireless coverage and passing data through the network. Helium tokens are mined by those creating coverage and spent by those using the coverage.
Helium Mobile is a new network for wireless and cellular data that provides phone service using signals from the Helium Hotspot network as well as the T-Mobile cellular network. Users of the Helium Mobile network can be compensated for their data, showing the network where both supply of, and demand for, coverage are located.
Smart cities can be built using the Helium Network, allowing a municipality to monitor floods, air quality, and water meters without building new wireless infrastructure.
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