Telecommunications giant introduces revolutionary mobile “crypto hotspots”.

Cryptocurrencies are often accused of having no useful purpose other than speculation. But the associated blockchain is actually used for some cryptocurrencies. Helium (HNT) is said to be a good example of this. One of the largest telecommunications companies in Mexico will use the Helium blockchain to offer mobile hotspots.

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Telecommunications giant is getting into crypto

In a press release, the telecommunications giant Telefónica writes that it has set up mobile hotspots in Mexico City and Oaxaca. A large part of the Mexican population lives in these provinces. At the time of writing, Telefónica has a market value of over $21 billion has more than 383 million customers in Europe and South America.

For the hotspots, the company uses the Helium Mobile Network, which uses blockchain technology to connect 5G users. Network enthusiasts can set up their own hotspot. They are paid for this in Helium’s own altcoin HNT.

The telecommunications giant did not develop the hotspots itself, but worked with Nova Labs. The network is based on the OpenWifi standard.

“Telefónica is looking for ways to expand its network through innovative, collaborative and more cost-effective solutions. This program in Mexico is critical to assess (network performance) and customer satisfaction on the (Helium network) and associated costs. If the project is successful, we will use it for additional mobile networks in other (South American) countries,” says Public Affairs Director José Juan Haro.