Expanding mobile services with device licensing and cryptocurrencies

The Internet is a fundamental pillar of the modern information order, but an estimated two billion people still do not have access to it. This may be because it is not commercially viable for traditional telecom operators to bring Internet services to certain remote geographic regions, despite the fact that:

• The money is tokenized 134 countries, representing 98% of global GDP, are still exploring the implementation of central bank digital currencies (CBDCs). This might not include the United States, as the US House of Representatives has passed the FIT 21 bill banning the Federal Reserve from issuing a CBDC. If the Senate also passes FIT21, such a ban on CBDCs will cripple the tokenization of the US financial sector.
• Mobile payments are replacing cash in more than 23 countries. A report by the Federal Reserve Bank of San Francisco found that cash payments accounted for only 18% of all payments in the US in 2022.

Wireless traffic, particularly with tokenization and mobile payments replacing paper money, is My dear will increase approximately 80-fold by 2030 relative to 2020. To expand Internet access to users through their cell phones, Helium Mobile founders Amir Haleem, Shawn Fanning (who also developed Napsterone of the first peer-to-peer file sharing platforms, in 1999), and Sean Carey in 2013 created a decentralized wireless network based on blockchain. LoRaWAN Infrastructure (DeWi) to support Internet of Things (IoT) devices. Helium Mobile leverages blockchain technology and cryptoeconomics to deliver wireless coverage and connectivity through decentralized peer-to-peer networks created and operated by individuals to efficiently utilize all existing network resources, including private wireless access systems owned by individuals.

As increasing wireless traffic raises concerns about congestion and connection failures due to signal loss, in 2019, the company launched Helium Hotspots with blockchain and digital asset payments to expand Helium Mobile’s cellular coverage. The goal was to create a world with seamless wireless connectivity, built and managed by the people who use it, and priced so they can afford it.

A wireless hotspot allows users to connect phones, tablets, computers, and other IoT devices to the Internet. They are built into most smartphones, but users can also get dedicated mobile hotspot devices, which offer faster speeds, connect more devices, and have longer battery life than a phone.

Helium hotspots act like miniature cell towers, creating a peer-to-peer wireless network to connect small, low-power devices over long distances through a growing constellation of user-owned Helium hotspot towers in over 170 countries. Users need a cellular plan with hotspot data to connect to a hotspot on a smartphone or personal device.

Helium Mobile’s cellular service operates on a combination of towers, such as T-Mobile in the US, Telefonica in Mexico, and Helium Hotspots, which are hosted by individuals. These hotspot operators receive MOBILE/nft tokens (HNT) as payment, as do cellphone subscribers who opt into Helium Mobile’s location tracking service, which is theoretically meant to help guide where new hotspots should be located. Helium Mobile subscribers and hotspot deployers are equal parts of a network that creates dynamic wireless coverage. It allows communities to improve their internet and mobile coverage without the infrastructure of traditional telecom companies. As Amir Haleem, CEO of Nova Labs and creator of the open-source Helium Network, says, technology/helium-mobile-s-ceo-explains-that-new-telefonica-deal” target=”_blank” rel=””>noted on the traditional top-down network development model of the telecommunications industry:

“It’s not really a sustainable model, in my opinion. I think it’s starting to fail now.”

Amir expects more traditional mobile network operators to support DeWi models in the future. Especially with Helium hotspots, users can earn HNT priced at $3.46 starting June 24, 2024, to provide essential connectivity to nearby Helium Mobile subscribers.

Helium Mobile minted nearly one million Hotspot HNT to enable other decentralized physical infrastructure (DePIN) projects to verify location data using Solana’s blockchain technology. Solana relies on network participants to run the software that keeps the system running. Participants can stop contributing their computational resources if the monetary rewards for participation are not attractive enough to incentivize these contributions. At current levels, Helium Mobile subscribers using Discovery Mapping are earning over 2,000 MOBILE HNT tokens per day. according to CoinDesk.

Solana blockchain, fast, scalable and low cost charges Helium Mobile users pay a small fee (average transaction fee is 0.000014 SOL) in SOL tokens, which includes sending tokens, staking tokens, making payments, swapping tokens, minting nfts, claiming Helium Hotspots rewards, and all on-chain Helium transactions.

Helium Mobile has been technology/helium-mobile-passes-30-000-customer-mark” target=”_blank” rel=””>adding Thousands of new customers in the US with its $20 per month nationwide unlimited 5G cellular plan by working with Google to bundle its Pixel 8 smartphone with Helium services and hotspots. The company also supports various other devices, including Solana Saga, the first native web3 phone.

Last year, Solana Mobile, a subsidiary of Solana Labs, introduced the Solana Saga Android-based phone. The phone is designed to provide users with a mobile-centric web3 experience, representing a major advancement in mobile technology. The phone combines the everyday utility of smartphones with the digital currency landscape’s heightened need for security and privacy by providing seamless access to Solana’s blockchain defi protocols.

Phone users can do it directly access decentralized applications (dApps), digital wallets, nft marketplaces, web3 applications, and other blockchain platforms without the need for multiple intermediaries or additional devices directly from the Solana Saga phone.

Helium Mobile’s mission to transform the $3,106.1 billion global wireless network infrastructure with its offering of a licensing program for web3 hotspots and phone devices is a significant milestone for the industry that seems ready to embrace DeWi. Communication giants such as AT&T, T-Mobile, NTT, Alibaba, and Tencent have already incorporated blockchain technology for a variety of purposes such as identity and access management, digital tracking of business processes, communication, data storage, and computing.

World Mobile has been addressing wireless dead zones with balloons and towers in the UK by providing token payments from the Cardano blockchain. And telecom giant Vodafone decided to merge blockchain technology with smartphone functionality by integrating cryptocurrency wallets directly into SIM cards. Thus, there are already several third-party manufacturers and providers for the IoT network, according to the Helium website. However, Helium Mobile is currently the only blockchain-based provider of cellular coverage devices. As Amir Haleem said tech-stack-licensing-program-for-device-manufacturers/” target=”_blank” rel=””>commented:

“Licensing Helium Mobile technology is a critical step in our mission to deliver affordable, accessible wireless connectivity to communities across the United States and around the world. We believe that Internet access is a basic human right, and for many people, that access is through a smartphone. Enabling other device manufacturers to leverage our technology will help accelerate a global wireless infrastructure revolution. This initiative is about empowering people and communities, driving progress, and building a more connected world.”

Staking is a means to earn rewards while holding specific digital assets. If a digital asset you own supports staking (such as ethereum, Tezos, Cosmos, Solana, Cardano, and others), you can “stake” a portion of your assets and earn rewards.

Last July, the United States Internal Revenue Service issued New guidelines clarifying when digital asset staking rewards are taxable as income. The agency considers staking rewards to be taxable as much as “Other Income” disclosed in Form 1040 Schedule 1 when you receive and have dominion and control over the digital asset and then it is taxed again as capital gains upon disposition of the digital asset disclosed in Form 1040 Schedule D.

To determine taxes on digital asset staking, you will need to report the fair market value of your staking rewards when you receive them or when you have dominion and control of the digital asset, which serves as your cost basis. You will use this cost basis to calculate any applicable capital gains or losses if you sell your staking rewards.

With the implementation of Rev. Roll. 2023-14Taxpayers like Helium Mobile users involved in staking can generally expect to pay taxes on their HNT rewards at the time of acquisition, even if they have not converted their digital assets to fiat.

For the proposed digital asset tax disclosure for brokers and nft collectible taxation rules, please see The tokenization of art, video games and the future of nfts | OpinionFor tax disclosure rules on digital assets, please see: What you need to know about the IRS cryptocurrency question on tax returns | Opinion

Editor's note: This article was written before the rumors about Solana being under investigation for its native token, SOL. Therefore, it does not include any discussion of SOL being investigated. crypto/2023/06/08/solana-foundation-denies-that-sol-is-a-security/” target=”_blank” rel=””>characterized as collateral by the SEC last year in its cases against Binance.US and Coinbase. This investigation could potentially influence all Solana-related projects. The editorial team will follow this news to keep you informed on the matter.