By Alicia Maher
3air, a blockchain company, is working to offer DeFi banking services and connectivity to remote areas of Africa. The company would be rendering these services using its SKALE blockchain.
3air To Provide Banking Solutions For The Unbanked In Africa
Internet access and financial services are essential to all aspects of modern life. However, several parts of Sub-Saharan Africa lack access to such services on a large scale.
According to reports, the company’s blockchain has fast transfer rates and minimal gas fees. Additionally, it has wireless technology centers, which would allow it to onboard several African users onto the web3 sector.
The rapid rate of urbanization in Africa without introducing internet facilities has left several Africans unbanked. According to statistics, about 73 out of every 100 Africans in the Sub-Sahara have mobile devices.
Unfortunately, just 20% of such individuals have devices with internet access. Also, most of these regions only have access to 2G or 3G networks.
Hence, for crypto-based solutions to work, internet access is a necessity in such regions. Fortunately, 3air is working on providing internet access alongside its blockchain banking services.
The company would install the Last Mile technology of K3 Telecom across various centers in Sub-Saharan Africa. The system has a range of up to 50 kilometers and can give wireless rates of up to 1 GBPS.
3air To Provide Banking Services To Users
Nine nations and three continents have previously deployed this equipment. These centers may be deployed in any location with total assurance that they will perform as intended.
Furthermore, the company would offer users subscription services using NFTs. This will give them more freedom and flexibility to use their funds.
This subscription style, through the use of NFTs, will give users extra flexibility and freedom to use their money as they see fit.
However, integrating Africans into the digital economy is not sufficient for 3air. Banking services are also needed to allow them to utilize the web fully.
Meanwhile, online payments, loans, business expertise, and bank accounts all need the internet to function properly. Besides, 57% of Africans lack access to any type of banking.
This makes it hard for most clients to get these services. Most of them are still using archaic methods of banking.
The blockchain firm will offer microfinance to its subscribers via its blockchain service. It would also provide cryptocurrency wallet services, financial education, and microloans.
Additionally, 3air will provide on-site and online instructional resources to integrate users onto web3 completely.