Category Archives: Bitcoin

The price of bitcoin has dipped below the $60K zone, a number of people have been talking about the third-largest bitcoin address called 1P5ZED which has accumulated thousands of bitcoin during the last few days. Nobody knows who the owner of the wallet is but it holds more than 111,359 bitcoin, as its been steadily accruing bitcoin since the wallets first transaction on February 5, 2019. While some assume the address is a mega bitcoin whale, onchain data indicates that the wallet could be tied to an exchange.

Bitcoins fiat value has been volatile and its one of those times where everyone is looking for answers to why BTC has slid in value. For instance, on November 10, bitcoin (BTC) slid from a $69K all-time high (ATH) and five days later, it was coasting along in the mid-$65K to $66K per unit range. Since the crypto assets ATH, bitcoin is down 16% in value and slid under the $60K zone. Of course, the volatility sparked whale watchers and people talking about bitcoin whale transactions happening in real-time.

Bitcoin whales are individuals or organizations with large sums of BTC and the whale can also be of various sizes. Depending on who you ask, BTC whales can be individuals or organizations that own 1,000, 10,000, 50,000, and 100,000+ bitcoin. An entity that holds more than 100,000 BTC would be considered a mega-whale, and there are only three bitcoin addresses in existence with 100,000 BTC or more. The top five largest BTC wallets hold anywhere between 84K to 288K BTC, and three of those wallets are marked or tagged as exchanges.

Lately, crypto publications and a slew of individuals on social media and forums, have been speculating about the actions of the third-largest bitcoin wallet. The conversation has been trending and many people believe that a large whale bought the dip, while the price of BTC slipped. Bitcoin.com News has seen a few large whale sightings as well amid BTC hitting fresh new price highs nine days ago. Although the whales our news team discovered stemmed from mined bitcoin block rewards from over a decade ago.

The third-largest bitcoin (BTC) address was first created on February 5, 2019, when it received a small fraction of BTC. Seven days later, onchain data shows the wallet obtained 1,119 BTC on February 12, 2019. The wallet address 1P5ZED doesnt look like an individual bitcoin holder and the transactions 1P5ZED has processed look more like exchange activity from a crypto trading platform. As mentioned above, three out of the top five BTC addresses are flagged as being associated with cold wallets belonging to Binance, Bitfinex, and Okex.

1P5ZED has all the tell-tale signs of being associated with an exchange and its not known for sure, but its been flagged on a few occasions. The address has received a lot of BTC during the last two years and occasionally it spends BTC as well. 1P5ZEDs transactions have very little privacy according to statistics from blockchair.com, as the block explorers privacy tool indicates most of its transactions are done with a very low preference for privacy. Most of 1P5ZEDs transactions have a critical to low privacy rating in terms of the level of traceability. The transactions suffer from vulnerabilities such as matched addresses and inputs and outputs that are often similar.

On the block explorer oxt.me, the address 1P5ZED has notes associated with it, which explain that the address could be tied to an exchange. The first annotation on oxt.me about 1P5ZED says it was submitted by a person named TEJAS on November 22, 2020. The individual writes it could be Bittrex and also leaves a link in the annotation as well. The article linked references a 717 BTC transfer that was allegedly carried out between Bittrex and 1P5ZED.

The second annotation on the block explorer oxt.me was added by ERGOBTC on July 14, 2020. The note says the address source suggests Gemini or Coinbase. This led our investigation down to parsing 1P5ZEDs transactions during the last two months. Blockchain parsing data shows that 1P5ZED transacts quite a bit with the BTC wallet address known as 1FzWLk. While 1FzWLk transacts with 1P5ZED a lot, 1FzWLk is also flagged with a note on oxt.me about the address being associated with an exchange.

The 1FzWLk annotation was also submitted by ERGOBTC, on the same day the second annotation was applied to 1P5ZED. [1FzWLk] annotated as Okex by Whale Alerts. Though source and cluster spending suggest closer ties to Coinbase and Gemini, annotation details. While its not certain 1P5ZED (which acts like an exchange cold wallet) and 1FzWLk (which acts more like a hot wallet) belong to a trading platform, theres a lot more supporting evidence that shows 1P5ZED is likely owned by an exchange.

Do you think 1P5ZED is a random whale address or do you think it belongs to an exchange? Let us know what you think about this subject in the comments section below.

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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While Speculators Believe Bitcoin's Third-Largest Wallet Is a Mystery Whale, Onchain Data Suggests It's an Exchange Featured Bitcoin News - Bitcoin...

Cryptocurrency markets have started to recuperate from last weeks losses as bitcoin, ethereum, and a slew of digital assets have seen slight gains. However, the cryptocurrency avalanche has seen its value skyrocket this past week 46.9% higher over the last seven days. Avalanche has also crept into the top ten digital asset market valuations with its $31.5 billion market cap. On November 21, avalanche tapped an all-time price high at $144 per unit as the crypto asset has gained a whopping 3,795% in 12 months.

The crypto asset avalanche (AVAX) has increased a great deal over the last 24 hours jumping in value more than 21%. Besides gala (GALA), avalanche is the biggest crypto asset gainer during the last day. On Sunday, AVAX reached an all-time high (ATH) at over $144 per unit and has entered the top ten cryptocurrencies by market capitalization. AVAXs market is just below the stablecoin market usd coins (USDC) $36.2 billion capitalization.

Seven-day statistics indicate that AVAX has climbed 46.9% in seven days, 83% in two weeks, over 133% during the last three months, and year-to-date, AVAX is up 3,795%. Tether (USDT) commands 63.84% of todays AVAX swaps while the U.S. dollar has around 14.23% of AVAX trades. This is followed by trading pairs such as BTC (9.58%), BUSD (5.56%), TRY (3.86%), ETH (1.33%), and BNB (0.79%).

The most active crypto trading platform exchanging avalanche (AVAX) on Sunday is Binance. The exchange Binance is followed by Okex, Trader Joe, Huobi Pro, Bitfinex, and Coinbase in terms of AVAX trades. Defillama metrics show that AVAX holds the fourth-largest total value locked (TVL) in decentralized finance (defi) with $12.74 billion. In the last 24 hours, the TVL increased 10.85% and over the last week, it increased 20.95%.

The Avalanche-based decentralized exchange (dex) Trader Joe has seen a 34% increase in users over the last seven days and $1.1 billion in global trade volume. The dex Trader Joe is the second-largest platform in terms of trade volume below Uniswaps $4.29 billion in weekly swaps. Trader Joe is also the sixth-largest defi protocol in terms of TVL with $2.59 billion total value locked on Sunday. Furthermore, Avalanche-based tokens like joe (JOE) and wonderland (TIME) have been rising in value alongside the native currency AVAX.

What do you think about Avalanche hitting an all-time high and making it into the top ten crypto assets in terms of market cap? Let us know what you think about this subject in the comments section below.

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Avalanche Value Surges Reaching an All-Time High, AVAX Joins the Top Ten Crypto Markets Markets and Prices Bitcoin News - Bitcoin News

ARK Invest CEO Cathie Wood says large institutional entities with strong hands are moving into Bitcoin (BTC) in a hurry.

In a new interview with Barrons, Wood says that institutions have their eye on Bitcoin partially because of its lack of correlation with other assets.

We can see whos moving in and it looks like strong, institutional holders are moving in [to Bitcoin]. Why are they moving in? Because the correlation of returns among crypto, especially Bitcoin, and other assets stocks, bonds, currencies, commodities are very low.

Studies tell us that if theres a low correlation of returns among assets, [buying] that asset with the low correlation, you will be raising returns and lowering risk over time.

While bullish on BTC, Wood said the trend of companies such as Elon Musks Tesla adding it to their balance sheet caught her by surprise.

What we didnt expect when we did our own study on Bitcoin, we didnt expect institutions, mainly corporations, to begin diversifying their cash on the balance sheet into Bitcoin.

Wood went on to maintain her previous Bitcoin price prediction of $500,000, saying that an uptick in institutional investing could make it a reality.

The reason weve used the $500,000 mark for a Bitcoin price target is that if institutional investors move into Bitcoin and allocate 5% of their portfolios to it, by our estimates Bitcoin will go up by $500,000. We can tell this is happening by looking at on-chain analytics.

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Check Latest News HeadlinesDisclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Strong Institutional Holders Moving Into Bitcoin, According to Cathie Wood of ARK Invest - The Daily Hodl

The Israeli pensioner Esther Freeman has reportedly turned an ILS 10,000 Bitcoin investment, worth roughly $3K at that time, into ILS 1,000,000 (~$324K) in eight years. However, Hapoalim Bank one of the largest in the country denied accepting the profits as the initial investment source might have had a connection to illegal financial operations.

In 2013 a 69-year old retired citizen of Israel, Esther Freeman, decided to enter the cryptocurrency market by investing around $3,240. Despite her 69 years, the pensioner said she is young in spirit and that her younger relatives mainly influenced her decision:

I listened to my son and nephews, to the young guys, and said that an attempt would be made. Without any knowledge on the subject, in the real innocence of an ordinary citizen. I never thought that NIS 10,000 would become almost NIS 1 million.

Even though Freeman has multiplied her investment by 100 times, Bank Hapoalim refused to deposit the amount transferred from the FIAT-cryptocurrency platform she used as the initial deposit years ago was made in cash.

Therefore, the source of the funds might have related to money-laundering or terrorist financing, the bank explained. Furthermore, the institution outlined some of the notorious dark sides of the digital asset industry that banks typically provide:

The characteristics of virtual (i.e., digital) currencies allow them to be transferred anonymously and unsupervised, often bypassing the need to use the financial factors that apply to the anti-money laundering and terrorist financing regime.

To have a better chance to obtain her funds, Freeman appointed Shaul Zioni as her law attorney and opened a lawsuit against the bank. The pensioner said that over the years, she had been a loyal client to the bank, and she needs the money so she can help one of her children:

The bank knows my conduct. I have no money anywhere else, only at Bank Hapoalim. They know I do not launder capital or do business outside the bank. I am retired. All four of my children have bank accounts. The money I need to help one of my children buy an apartment.

Freemans law attorney Shaul Zioni also spoke on the matter. He noted that his client wants the court to declare that the source of money invested in bitcoin is known, clear and supported by references. Over the years, Freeman has kept her Bitcoin in various digital wallets, in which no further transactions have been made, Zioni added.

Subsequently, the court ruled that the financial institution should not restrict account activity to its clients only because they are linked to digital currencies. Bank Hapoalim has received the case and vowed to study its details and respond in the usual way.

Due to the risks of using digital assets in criminal activities, Israels authorities recently planned to apply anti-terror banking rules.

As of now, the government had to spend significant resources to uncover fraud in areas where companies were not obliged to report all financial operations. If the new policy goes live, all crypto-related firms will need to make reports like banks.

The new rules should also benefit small digital asset enterprises as the reporting promises to be accessible and modernized. As such, those companies could provide greater confidence in the safety of their services.

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69-Year Old Israeli Lady Turned a $3K Bitcoin Investment to $320K: Now the Bank Refuses to Deposit - CryptoPotato

New Delhi: Cryptocurrency has gained importance in recent times with investors actively investing in digital currency. It is important to have knowledge about every days happenings in the cryptocurrency world. Here are some important stories of cryptocurrency that you would be interested in:

Cryptocurrency prices on Nov 21: Bitcoin, Ethereum surge, Solana falls

The global cryptocurrency capitalisation has surged marginally to $2.63 trillion by 0.55% with Bitcoin, Ethereum is being traded in the green while Solana and Dogecoin dropped slightly. Reportedly, Bitcoin lost around 20% in less than 15 days. Bitcoin is having dominance of 42.30%, gaining just 0.30% to trade at $58,997.

Crypto transactions should be recognised as an asset class, regulated centrally: RSS Body

Swadeshi Jagaran Manch, a BJP oriented political organisation stated the government should pitch in a new law to recognise the crypto transaction as an asset class and regulate it. Reportedly, Ashwani Mahajan, the Swadeshi Jagaran Manch (SJM) co-convenor, suggested that the governor should make sure that the data and hardware that are used for mining, processing, and transacting of the cryptocurrencies, is limited to the domestic servers.

Anand Mahindra backlashes fake news stating, not invested a single rupee in crypto

Sharing a screenshot of fake news on Twitter, Mahindra Group Chairman on November 19 stated that he never invested a single rupee in cryptocurrency. An article posted on the website called blastheincome.com stated that Mahindra in a recent interview said that his number-one money-maker is a cryptocurrency platform called Bitcoin Era.

Bitcoin almost falls by 20% in less than 14 days, should you worry?

Bitcoin has suffered a blow of almost 11% over the last week and is currently trading at $56,868, the most popular digital coin by market value has lost nearly 20% in less than 2 weeks, as reported by Bloomberg. Reportedly, the volatility is quite regular and corrections are no cause for alarm. Notably, over 24 hours, Bitcoin has fallen by almost 3%, declining consistently for the 6th continuous day.

NFT Mania?

A software developer from Australia has created an online repository of NFTs known as The NFT Bay. This repository includes image versions of the NFTs, but not the blockchain-secured token. As reported by Coin Desk, the website contains as many as 17.96 terabyte archives of NFT image copies and has garnered about 1.2 million visits in two days.

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Top cryptocurrency news today: Know about bitcoin, NFT, and more - NewsroomPost

American professional basketball team Houston Rockets has announced that thanks to it has signed a sponsorship deal with New York Digital Investment Group (NYDIG), a leading bitcoin company.

According to the press release, which was issued by NYDIG on November 16, as the Official Bitcoin Services Partner and Bitcoin Platform of the Houston Rockets, NYDIG will be the franchises exclusive partner across a range of cryptocurrency services.

Rockets President of Business OperationsGretchen Sheirr, had this to say:

From basketball operations to business development, our organization has leaned on advancements in technology to remain on the cutting edge. Partnering with NYDIG allows us to leverage the growth of Bitcoin to provide creative rewards and payment options to our fanbase and associates.

Trey Zeluff, Director of Digital Asset Strategy at Fertitta Entertainment, stated:

Expanding the partnership between the Fertitta family and NYDIG to the Houston Rockets was a natural choice. The Rockets are a leading sports brand and NYDIG is the leader in bitcoin financial services. Together, we will deliver new opportunities for Rockets fans and theCity of Houstonto learn about and use bitcoin.

And Kelly Brewster, Chief Marketing Officer of NYDIG, added:

We are thrilled to have found a forward-thinking partner in the Houston Rockets and the Fertitta family, who understand that by embracing Bitcoin, companies and brands can build loyalty with this expanding and influential customer base.

The Rockets will be #PaidInBitcoin, and this partnership underscores our excitement about theHoustonarea and the Bitcoin innovation taking place there. NYDIGs partnership with the Fertitta family, across their businesses, will significantly accelerate its goal of making bitcoin accessible to all.

The press release went on to say that The Rockets will work with NYDIG to expand the Bitcoin ecosystem through access, educational programming, and community support initiatives while providing NYDIG significant exposure across all of the teams social, digital, and in-arena platforms. Furthermore, NYDIG becomes the first naming rights partner of Toyota Center suite levels, to be named the Bitcoin Suites by NYDIG, and will receive baseline apron signage during Rockets games.

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

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Bitcoin: NBA Team Houston Rockets New Sponsorship Deal Pays Them in $BTC - CryptoGlobe

Macro guru Raoul Pal says he remains very bullish on Bitcoin, Ethereum and four large-cap altcoins as crypto continues to see adoption on a global scale.

In a new interview on business and entrepreneurial YouTube channel Goko Group, Pal says he expects the total crypto market to rise 100x in the coming years on the back of exponential adoption.

[Crypto] is the fastest growing adoption in any technology in all recorded history. Were going to go from 150 million users to a billion users in three and a half years. It is going from $2 trillion to $200 trillion as an asset class probably in 10 years.

According to Pal, hes looking at six crypto assets which he thinks have the most solid potential based on their fundamentals.

What you do is look at these cryptocurrencies and say, How many people are using it? Is that network growing and are people building stuff on it? If you can answer those questions with yes, then youve got a good investment

The ones that I see that in right now are Bitcoin, Ethereum, Solana, Terra and probably Polkadot or Avalanche. Those are the ones with a larger market cap. Were seeing real use cases, lots of people adopting it and lots of people developing applications on it.

For those who want to keep it simple, Pal says investors should take a close look at Ethereum (ETH).

Just take Ethereum. Ethereum is like the internet of money. Its like the software platform that everything is being built on, and it may not go up the most, but its going to go up a hell of a lot because its got massive network effects. Its easy to understand. Its easy to trade. Its easy to buy. Its liquid and you dont have to learn too many new things.

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Bitcoin, Ethereum and Four Altcoins Witnessing Mass Adoption As Crypto Market Targets $200,000,000,000,000 ... - The Daily Hodl

The American social media personality and model, Alexis Ren believes the fiat economy is collapsing and recently she told the press she thinks cryptocurrencies offer a viable alternative. In a recent interview, Ren explained her interest in crypto is fueled by the socialites reservations in the dollar-based economy.

During the last 12 months, numerous analysts and economists have said that the U.S. economy faces uncertainty. At the end of October Robert Kiyosaki, the best-selling author of Rich Dad Poor Dad, explained that he believes America is sliding into depression. On Friday, Harvard economist Kenneth Rogoff told the media that he thinks were on a knife-edge in terms of where inflation in the U.S. is going. However, famed novelists, analysts, and American economists are not the only ones predicting bad times are ahead for the U.S. economy.

Business Insiders (BI) Jim Edwards discussed the subject with the socialite and model Alexis Ren after shes been telling people that she thinks the economy is based on lies. I think the economic structure we have been living on is a lie and its delusional and its just an agreement and so we need to find something better, and I think bitcoin and cryptocurrency is that, Ren explained in a Youtube video she crafted called Truth or Drink.

Speaking with Edwards, the Instagram star with 15 million followers told the BI reporter in a video call that the devaluation of USD is an issue. They keep printing more of it, so that it has no value, Ren stressed. It used to be backed by gold and its not anymore. And so we dont have any value except their belief and faith in it and thats even scarier. Because now theyre just utilizing our faith in the dollar. And then theres no set amount. And so there needs to be a new thing, she went on to say.

The popular model further detailed that the U.S. economy was collapsing and she highlighted that the current money creation issue is a never-ending cycle. I know that but were in debt, so were trying, were printing more money to pay back debt and then we just keep accumulating more debt. Its a black hole, Ren said. The social media star thinks that the economic system is not sustainable and opined what she thinks American citizens want. An economy thats sustainable and that can move with us, Ren added.

The interview further explains Rens appreciation for cryptocurrencies and non-fungible token (NFT) assets. Ren is the founder of a tech platform called Yourstage.io and the project recently revealed its plans to tie NFTs to the companys brand. Yourstage.io will leverage NFTs for a subscription to the service rather than cash payments. Concluding the interview with BIs contributor Jim Edwards, Ren told the reporter that people should invest a small amount in cryptocurrencies every month.

What do you think about the recent interview with the social media star and model Alexis Ren? Do you agree with her that the dollar-based economy is collapsing and cryptocurrencies are a viable alternative? Let us know what you think about this subject in the comments section below.

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Socialite and Model Alexis Ren Doesn't Trust the Dollar Economy, Says Crypto Is a Viable Alternative Featured Bitcoin News - Bitcoin News

The annual Sports Illustrated (SI) Awards have just revealed the line-up for the firms 2021 awards show that will broadcast live from the Seminole Hard Rock Hotel and Casino in Hollywood, Florida. This year, fans will be able to win a whole bitcoin from FTX as the crypto exchange has partnered with the SI Awards ultimate sports sweepstakes.

The American sports magazine owned by Authentic Brands Group, Sports Illustrated, has been a very popular magazine since its inception in 1954. Since the day SI was created, for 67 years the company has presented the Sportsman of the Year award annually. This year, the SI Awards will be hosted at the Seminole Hard Rock Hotel and Casino in Florida on Tuesday, December 7 at 8:00 p.m. (EST).

The 2021 SI Awards will also feature a sweepstakes with rewards provided by the crypto exchange FTX. Fans will have the opportunity to win a single bitcoin (BTC), tickets to the award show, hotel and airfare accommodations, and backstage passes to meet and greet with a surprise athlete. FTX has been very involved in the sports industry during the last year and sponsoring the SI Awards comes as no surprise.

FTX recently partnered with the MLB legend Shohei Ohtani, Tom Brady and Bradys supermodel wife Gisele Bndchen. The firm is an official partner of the MLB and has also acquired the naming rights to the NBA Miami Heats arena and the professional esports organization TSM. Other prominent crypto companies are also diving deep into the world of sports as Crypto.com signed a massive deal with the MMA company UFC. Crypto.com also inked a 20-year deal for the naming rights to the Staples Center, home of the Los Angeles Lakers.

FTX details in an announcement sent to Bitcoin.com News that the firm is proud to present the most prestigious award of the evening, Sportsperson of the Year. FTX further added that honoring this years winner as an athlete who best represents the spirit and ideals of sportsmanship, character, and performance. Guests that attend the event will also receive an exclusive Sports Illustrated Awards NFT through FTX US NFT Marketplace to commemorate the event.

In addition to the sweepstakes, the SI Awards will also be hosted by DJ Khaled and Cari Champion. The event will also showcase music performances by 2Chainz and DJ Irie. Other SI Awards attendees that will be in Florida will include JuJu Smith-Schuster, Lamelo Ball, Logan Paul, Rob Gronkowski, Suni Lee, Tyler Herro, Udonis Haslem, Billie Jean King, Brooks Nader, Camille Kostek, Chad Johnson, Candace Parker, DJ Carnage, Haley Kalil, and Jasmine Sanders.

The SI Awards are also produced by the firm Medium Rare, an agency dedicated to sports, celebrity, and brand-focused non-fungible token (NFT) assets. Medium Rare was behind the multi-million dollar NFT drops this year that featured the Golden State Warriors and Rob Gronkowski.

What do you think about the upcoming SI Awards and the sweepstakes that will be giving away a single bitcoin? Let us know what you think about this subject in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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The broadband internet connectivity platform, 3air, aims to bring seamless broadband connectivity within Africa. The recently announced platform recognizes the internet connectivity issues and the enormous interest in blockchain technology on the African continent. 3air solves the connectivity challenge by using wireless broadband technology to reach previously under-connected areas.

3air is built on the Cardano blockchain, leveraging the chains progressive technologies. Furthermore, the 3air token takes advantage of the IOHK Atala Prism Identification Management solution.

The company plans to build broadband in developing countries where other institutions have not been able to lay out the required infrastructure. Most of Africas internet users connect using mobile internet, which is often limited in bandwidth, expensive and unreliable. 3air plans to offer broadband internet with speed up to 1 Gbps, along with IP telephony and digital TV subscriptions.

According to the World Bank, building out the infrastructure for high-speed broadband internet will take at least until 2030 and require over $100 billion in investment. 3airs proposed solution launches broadband services in a new country within 6 months and investments of around $10-$20 million.

One of 3airs most vital partners is K3 Telecom, a leading telecommunications service provider in the industry today. Its technology distributes microwave radio signals through the air, offering a faster and more cost-effective way of procuring services.

The K3 last mile technology institutes a base station which distributes internet services to users within a 30+mile radius. Teams on the ground conduct extensive research on city layouts to install base stations in strategic locations to optimize reach and performance.

In the long run, 3airs vision is headed towards straightforward, affordable, and reliable communication pathways, unlike 3G networks. Moreover, the startup plans to educate Africa on blockchain technology after efficiently improving the regions broadband internet connectivity.

The platform has also garnered several partnerships throughout its inception, joining forces with technology-based companies like CV Labs, Iceaddis, and more on its cause.

3air is built on the Cardano blockchain, leveraging the chains progressive technologies. Furthermore, the 3air token takes advantage of the IOHK Atala Prism Identification Management solution.

The Atala Prism system allows for creation of digital identities called DIDs, that can be used for identification and personal information tracking with privacy options to give users their provable identities. This also allows for tracking credit scores for the user. With regular usage of broadband services and adding additional payment data, users can build their credit scores that can be used to take out loans within or even outside the platform.

To estimate the market potential, 3air lays out several estimations for rollout in different countries in its whitepaper. According to their research, Nigeria alone has the potential of generating $60 million of annual revenue in the broadband telecommunications industry. Combined with other developments within the continent, it shows the unprecedented potential that lies here.

Creating stable high-speed networks is one way to derive the best results from the developing cities while bringing more worth to citizens. Sandi Bitenc, CEO of 3air, talks about the importance of setting up broadband infrastructure:

Imagine your private or business life without a fast and reliable internet connection. Unfortunately, this is the reality of many people in developing countries. Now imagine the troubles of such a country as a whole. Development of a 3rd world country needs to focus on multiple areas including economic development, social development, environmental protection, poverty eradication and others. Solving them is hard and occasionally conflicting, but solving them without information and connectivity is virtually impossible.

To be a part of the 3air community and follow the companys progress, you can register for the public pre-sale set to kick off on November 26 here.

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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3air Leverages Blockchain Technology to Deliver Extensive Broadband Connectivity in Africa Sponsored Bitcoin News - Bitcoin News