Helium (HNT) Heats Up: 21% Jump After Telefónica Deal Ignites Growth
25 Enero 2024 - 9:00AM
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In a landmark move, Telefonica, the world’s 27th largest telecom,
has partnered with Nova Labs to roll out Helium mobile hotspots in
Mexico. This initiative aims to address the persistent issue of
limited internet access in underserved communities, leveraging a
unique blockchain-powered network. Helium’s Mexico Expansion Sparks
Crypto Surge The collaboration will see thousands of Helium
hotspots deployed across Mexico City and Oaxaca, powered by Nova
Labs’ blockchain technology. This technology incentivizes
individuals to host hotspots by rewarding them with Helium’s
cryptocurrency, HNT, for contributing to coverage. This
“proof-of-coverage” concept aims to build a decentralized network
with potentially lower infrastructure costs compared to traditional
methods. Related Reading: XRP Faces Bearish Pressures Amid Market
Downturn: Analysts Divided On Next Move The news sent ripples
through the cryptocurrency market, propelling HNT’s price up over
20%. This follows a similar surge in December when Helium partnered
with T-Mobile for nationwide mobile service in the US. HNT price
soars in the last 24 hours. Source: Coingecko “This program in
Mexico is crucial for evaluating the performance and customer
satisfaction of this solution,” said José Juan Haro, Telefonica’s
Chief Wholesale and Public Affairs Officer. He sees it as a key
step towards bridging the digital divide and unlocking new
possibilities for individuals and businesses in remote areas.
Helium currently trading at $7.03175457 on the daily chart:
TradingView.com The collaboration isn’t without its challenges.
Scaling up the network and convincing users to switch to Helium
connections will require careful planning and clear value
propositions. Additionally, decentralized networks can face issues
with coverage consistency and data speeds compared to centralized
infrastructure. “We are delighted to partner with Telefonica to
integrate our Helium Mobile Hotspot technology and expand coverage
for their customers. Alongside Telefónica, Nova Labs has solved one
of the biggest challenges for telecoms and pioneered a solution
that supports secure data offload that can be implemented around
the world,” Amir Haleem, CEO of Nova Labs, said. Telefonica
Boosts Helium Initiative Credibility Telefonica’s involvement adds
significant weight to this initiative. Its market reach and brand
recognition can bolster Helium’s credibility and drive adoption.
The partnership is built on an open standard developed by the
Telecom Infra Project, allowing select Movistar customers to
seamlessly access the Helium network using their existing SIM
cards. Related Reading: Crypto Carnage: OKB Flash Crash Wipes 25%
Off Value In Minutes – Here’s What Happened While the long-term
success of this venture remains to be seen, it represents a bold
step towards a future where blockchain technology fuels innovative
solutions for bridging the digital divide. Its success could pave
the way for similar initiatives in other developing regions,
offering an alternative model for network deployment and
democratizing access to the internet for all. This story is still
unfolding, and its potential impact on both the telecommunications
landscape and the wider blockchain ecosystem remains to be fully
realized. Featured image from iStock, chart from TradingView
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