- Emrit hopes to attract retail clients by offering passive income and real-world applications.
- Adoption is aided by putting real-world use cases front and center, especially in the retail sector, according to Emrit.
- Retail and commercial clients can earn passive income by using the company’s cryptocurrency mining technology.
Jiten Varu, CEO of Emrit, a distributed blockchain infrastructure startup, understands the skepticism surrounding bitcoin. A excellent technique to persuade the sceptics? Show them your cash.
Retail and commercial clients can use the company’s cryptocurrency mining infrastructure, which focuses on energy-efficient solutions that allow them to earn passive income. Varu noted in an interview that the focus is on introducing what Emrit refers to as “distributed infrastructure” to communities.
The key to attracting clients, particularly retail customers, is to focus on the concrete, according to Varu.
“When you talk about Web3, most people still think of it as virtual,” he remarked. “They don’t perceive the real-world application.”
“What we’re seeing is that because we’re bridging the gap between the real and Web3 worlds, our retail customers are connecting to these projects extremely rapidly.”
Customers pay a one-time charge of $199 for the miner and receive 50% of profits, which are sent once a month into the user’s wallet. Emrit was unable to remark on the average amount of money awarded to each user.
“We strive to educate our retail customers on the fact that this is not a coin-focused or currency-focused crypto initiative,” he said. “It’s not like day trading Dogecoin; it’s a passive income.”
Emrit, according to Varu, works with existing blockchains. At the moment, its major project is with Helium, a decentralized wireless network that uses cryptocurrency to power “internet of things” (IoT) devices.
Emrit plans to deploy tens of thousands of Helium hotspots to consumers and businesses in North America and Europe by 2021, and it is also looking to expand throughout Latin America.
To that purpose, Emrit signed an agreement in December with Mexico City-based telecoms provider C3ntro to supply Helium IoT to bitcoin miners, allowing consumers a another chance to earn money.
C3ntro vice president of global carriers Abraham Smeke said, “Our relationship with Emrit allows us to offer new, innovative solutions to our customers at a fraction of the capex associated with a conventional IoT implementation.”
Emrit pays for network deployment costs with cryptocurrency mining rewards under the terms of the agreement.
“Over the last year, our consumer and enterprise hosts have earned tens of millions of dollars in [helium] cryptocurrency awards for merely providing a stable internet connection and enough electricity to power a 5-watt light bulb,” Varu added. “Partnerships with C3ntro will considerably accelerate the adoption of Web3 applications as we strive to hyperscale our business.”
He stated that demand has been robust, particularly from the retail sector, but that it is not a method to become wealthy quickly.
Varu explained, “This is a passive income that takes very little care and maintenance.” “That’s the luck of the draw.”
Emrit’s engagement with C3ntro follows its collaboration with PlanetWatch, a global air-quality monitoring system that uses blockchain and IoT. Emrit announced a partnership with the corporation in June 2021 to support the deployment of thousands of air quality monitors at Emrit hotspots.
PlanetWatch will be able to preserve climatic data on the blockchain, which will increase transparency and security.
Disclaimer: These are the writer’s opinions and should not be considered investment advice. Readers should do their own research.