The information is official: in San Jose, Silicon Valley, they need to use Helium HNT tokens for a project that goals to assist low-income residents pay for Web entry service.
An announcement detailing the mission has been revealed on town’s official website.
San José and the mission with Helium tokens
Silicon Valley is situated within the southern a part of the San Francisco Bay Space, and its important centre is San José, a metropolis of over one million inhabitants and the capital of Santa Clara County.
It’s also house to Cupertino, Menlo Park, Mountain View, Palo Alto, Sunnyvale and different small cities which have been made well-known by the headquarters of a few of the world’s most necessary tech corporations.
San José is the tenth most populated metropolis in the USA, and being the centre of Silicon Valley has led to an incredible focus of expertise and technological improvement. It’s subsequently the right metropolis to experiment with a mission reminiscent of this.
The Helium project, based in 2013 by Shawn Fanning and Amir Haleem, goals to construct a peer-to-peer wi-fi community for Web entry. It does this by rewarding anybody who turns into a distributor of the sign.
Helium is a mission backed by GV (previously Google Ventures), Khosla Ventures, Union Sq. Ventures, Multicoin Capital, FirstMark, Marc Benioff, Shawn Fanning and different VCs. Its community is already energetic in greater than 17,000 cities worldwide.
HNT is the cryptocurrency of the Helium community
Yesterday, San Jose Mayor Sam Liccardo introduced a public-private partnership between town, Helium and the California Rising Know-how Fund (CETF) to attenuate monetary limitations to Web entry.
By way of this initiative, HNT tokens mined from Helium Hotspot gadgets will likely be transformed into pay as you go reward playing cards that will likely be distributed to certified low-income residents to subsidize their Web subscriptions.
HNT is the native cryptocurrency of the Helium community, and yesterday’s markets didn’t appear to be significantly affected by the information. Its worth solely went from $16.5 to $17.5, after falling from $25 firstly of September. It’s at the moment 34% decrease than its all-time excessive of $26 on 23 August.
At first of the yr, it was solely price simply over $1, so the present worth is 17 occasions increased.
The Metropolis of San Jose’s pilot mission goals to cowl the price of Web entry for greater than 1,300 low-income households for one yr by offering contributors with a one-off fee of $120.
The Mayor’s Workplace of Know-how and Innovation (MOTI) will deploy and set up 20 Helium-compatible hotspots to additional develop the decentralized wi-fi community within the metropolis, supporting San José’s Sensible Metropolis Imaginative and prescient.
As soon as these gadgets are up and working, they are going to start extracting HNT tokens, which is able to then be managed by CETF, transformed into pay as you go playing cards and money, which in flip will then be distributed to low-income households. All HNT tokens extracted from these hotspots will likely be used on this means.
San Jose Mayor Sam Liccardo mentioned:
“Right here within the coronary heart of Silicon Valley, San José should set an instance for the way to remedy issues with rising applied sciences and public-private partnerships. Changing into a wiser metropolis means leveraging rising applied sciences that enhance how we serve our neighborhood, making it safer, extra sustainable, and extra equitable. This primary-of-its-kind partnership between the Mayor’s Workplace, Helium, and CETF represents one among many modern public-private partnership fashions that we’re advancing to bridge the digital divide for residents”.