Blockchain technology is disrupting the financial industry, whether through cryptocurrencies, such as Bitcoin and Ethereum, or by introducing novel consensus mechanisms. The trend has now extended to internet service providers, with privacy and costs being addressed by the latest player in avant-garde connectivity aiming to challenge the status quo in telecommunications.
Ammbr is the latest entity to emerge in the field of blockchain, but is not targeting the financial industry. It is competing in telecommunications through a specially designed router. Co-founder and managing director, Derick Smith, has detailed the way in which his product takes a holistic approach to providing users with a connection to the internet.
“The Ammbr Foundation is overseeing the development and expansion of a wireless mesh network called the Ammbr Network. This network will use a multi-radio mesh router with a built-in blockchain, the Ammbr Blockchain, which provides the ability to effect micropayments,” he explained. “The economic layer binding together the distributed services on the Ammbr mesh router, the Ammbr mesh network, and the Ammbr blockchain, is a Byzantine fault tolerant (BFT) cryptocurrency called AMMBR.
Ammbr is aiming to change the landscape of telecommunications through their AMMBR cryptocurrency in an attempt to overcome the shortcomings of capitalism and centralised wealth by giving users the power to participate in the establishment of telecommunications and computing infrastructure. Smith has explained in a blog article how even a free market economy is hindered by the motivations of centralized organizations, leaving the majority of participants at a disadvantage.
“In capitalism, capital owners generally dominate the means of production and, as such, may wield unfair advantages,” he explained. “A free market is rather concerned with the unhindered exchange of products and services between participants, and the potential advantage of dominant capitalists therefore hinder a truly free market.”
This is a breakdown of how many people have access to the internet in the years between 2010 and 2016:
As per Ammbr’s website, the foundation “wants to provide a solution that will open up affordable access by tapping into the shared economy where internet users can share it with others in exchange for micro-payments in tokens.” By combining mesh networking and blockchain technology, Ammbr users will jointly be able to set up large network services at a minimal incremental cost, and eliminate the various drawbacks of using centralised internet service providers, who currently hold all of the power in the market and are therefore able to exploit their users in terms of costs, while compromising their security.
To find out more about Ammbr, you can visit their official website here.