AID:Tech, SmartMesh, and MeshBox have partnered to accelerate Inclusive Applications for the unconnected and unbanked. All three companies are focused on using blockchain technology to achieve financial inclusion and access to health services aligned with the United Nations’ Sustainable Development Goals.
AID:Tech has been transforming the lives of people through Decentralised Digital Identity technology for use cases such as welfare delivery, micro-insurance, payments, and aid delivery. Decentralised blockchain technology ensures transparency and tamper-proof security. AID:Tech brings 7 years’ experience of deploying blockchain-based DeFi solutions for clients in Asia, Africa, and the USA. Their clients include governments, NGOs, and financial institutions.
Joseph Thompson, AID:Tech CEO says that “By 2030, every person on earth should have a legal Digital Identity that enables them to prove who they are and get access to the financial services they currently lack. There is a huge need and opportunity for Decentralised Digital ID in South East Asian countries that lack proper internet connectivity. Partnering with the SmartMesh Foundation and the MeshBox Foundation, we believe that we can, together, bring DeFi to the millions who need it most.”
SmartMesh has deployed the Spectrum Blockchain, which is a lightweight distributed ledger suitable for IoT applications. To support inclusive eCommerce environments, in which Internet connectivity is intermittent, the SmartMesh Photon network has been deployed. Various tokens are supported on Spectrum, including utility tokens and Non-Fungible Tokens (NFTs), which are useful for token-based economies, and tokenization of identity and assets.
SmartMesh and MeshBox aim to deliver the trusted technology of blockchain applications and a DeFi platform married with a decentralized network composed of MeshBoxes as the key, underlying hardware building block.
Henry Wang, SmartMesh CEO says, “We are fortunate to collaborate with Aid:Tech’s co-founders Joseph Thompson and Niall Dennehy, who share our vision to connect the unconnected and bank the unbanked, bridging the growing divide between developed and developing markets. We are excited to support and co-create life-changing inclusive applications for all through the deployment of DeFi applications via the Value Internet.”
“MeshBox Foundation welcomes the partnership with AID:Tech and SmartMesh, which layers inclusive applications and the Value Internet on top of MeshBox’s connectivity solution. MeshBox Foundation’s deployment of the HyperMesh infrastructure, composed of mesh networking, internet access, and IoT, will work synergistically with AID:Tech and SmartMesh offerings to improve the lives of the underserved”, comments Peter Yan, MeshBox CEO.
AID:Tech, a Singapore entity, provides Digital ID-based DeFi solutions for governments, NGOs, and financial institutions. AID:Tech enables a secure, interoperable ID solution that works for cross-border payments, government disbursements, and savings.
Building their ID applications Decentralised technology, AID:Tech are an international award-winning company having won awards from Citi, Mastercard, IBM, the United Nations, and the IMF. AID:Tech investors include Jason Calacanis, Affinifi (seeded by Temasek), Josue Estrada (COO at the Chan-Zuckerberg Foundation), SGInnovate, and BlockAsset Ventures.
About SmartMesh® Foundation
SmartMesh Foundation, a Singapore entity, provides an ecosystem that aims to bank the unbanked and connect the unconnected. SmartMesh enables ecosystem partners to build disruptive new applications on its Spectrum public blockchain utilising HyperMesh Infrastructure, targeted at providing inclusive connectivity, banking, and energy solutions. Today, SmartMesh’s Tango Distributed Application provides Peer-to-Peer (P2P) payments through Photon, with intermittent internet connectivity, lower latency, and higher Transactions per Second metrics than possible on conventional distributed ledger technologies. To build a broader ecosystem, SmartMesh has also developed the Atmosphere Cross-Chain Interoperability Architecture platform to bridge Spectrum with other blockchains.
About MeshBox® Foundation
MeshBox Foundation, a Singapore entity, partners closely with SmartMesh Foundation by providing the communication, storage, compute, and IoT HyperMesh hardware infrastructure, on which SmartMesh and other ecosystem partner applications can operate. Together, MeshBox and SmartMesh create a paradigm shift to enable Infrastructure deployment with shared ROI. Instead of a centralized service provider making deployment decisions, the residents of a community decide when and where to deploy infrastructure, such as MeshBox internet appliances. When investors or operators help a community by investing in the deployment of a MeshBox-enabled HyperMesh Infrastructure, tokens are earned for providing such goods and services. Such token rewards provide incentivization and an ROI, to be shared between MeshBox owners in the community, investors, and operators.
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