Blockchain infrastructure provider wants to bring retail on web3

Blockchain infrastructure provider wants to bring retail on web3

jiten Varu, CEO of the distributed blockchain infrastructure company Emrit, knows that there is a certain skepticism of cryptocurrencies. A great way to get the insurmounters on board? Show them the money.

The company offers retail and business customers a cryptocurrency mining infrastructure, with the focus on energy-efficient solutions that enable them to achieve passive income. The focus is on bringing what EMRIT calls "distributed infrastructure" to the communities, Varu told Blockworks.

The key to addressing customers, especially private customers, is to focus on the tangible, said Varu.

"If you talk about Web3, it is still very virtually virtually for most people," he said. "You don't see the real application."

"What we find is that our retail customer quickly combines with these projects because we close this gap between the physical and the web3 world."

Customers pay a one-time fee of $ 199 for the miner and receive 50 % of the income that is paid into the user's wallet once a month. EMRIT could not comment on the average premium amounts per user.

"This is not a coin-focused or currency-focused crypto project, and that's the first thing we are enlightening our retail customers," he said. "It's a passive income, not like day trading with Dogecoin."

emrit works with existing blockchains, said Varu. His currently largest project is helium, a decentralized wireless network that is generally known to supply "Internet of Things" (IoT) devices with cryptocurrency.

In 2021, EMRIT provided tens of thousands of helium hotspots for consumers and companies in North America and Europe and is now targeting the expansion in Latin America.

For this purpose, Emb in December made a contract with the telecommunications company C3NTRO from Mexico City in order to provide HELIUM IoT to cryptocurrency school and give users a new way to generate income.

"Our partnership with EMRIT enables us to provide our customers new, innovative solutions to a fraction of the investments associated with a typical IoT provision", Abraham Smeke, C3ntro Vice President of Global Carriers.

As part of the partnership, EMRIT subsidizes the network reporting costs with cryptocurrency mining rewards.

"Our consumer and company hosts deservedly milled [Helium] cryptocurrency premiums last year for the easy provision of a stable internet connection and electricity that corresponds to a 5-watt glow bulb," said Varu. "Since we want to hyper-scaling our business, partnerships with C3NTRO will consider the introduction of web3 applications considerably."

The demand was strong, especially on the part of retail, he said, but there was no way to generate wealth overnight.

"This is a passive income that requires very little support and maintenance," said Varu. "That is the draw."

The partnership with C3NTRO follows the cooperation between EMRIT with Planetwatch, a global air quality monitoring system with blockchain and IoT. In June 2021, EMRIT received a partnership with the company to finance the use of thousands of air quality monitors who are to be hosted by EMRIT HOTSPOTS.

The partnership enables Planetwatch to save climate data on the blockchain, which increases transparency and security.

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The contribution blockchain infrastructure provider looks to bring retail to web3 is not a financial advice.