Project Isizwe's Alan Knott-Craig re-emerges with for-profit township fibre company, complete with stablecoin

[GhostSixFour]

The good tax payer pays R900pm

The people not paying taxes pay R150 a month.

Vumatel has been doing this for a while. Vuma reach. They don't even charge the people installation costs. Globally fees go down, in ZA, those fees get used to provide the others with a similar service for less money.

 

[Thor]

The problem is, it's built around crypto.

To date, those projects don't last more than two years.

 

[Yskasmetnstoof]

They don't need fibre in a enrichment scheme. They need d cent jobs.

 

[CartoonFan]

Adding crypto is just a pointless step that adds no value to the business at all.

 

[SteppaZA]

The good tax payer pays R900pm

The people not paying taxes pay R150 a month.

Was waiting for one of these type comments to make everything rotten

 

[SteppaZA]

Honestly this is good news. Narrows the gap a tiny bit between the haves and have nots. I don't care 2 cents about the takers of the past. They must pay or subsidize.

 

[skimread]

Adding crypto is just a pointless step that adds no value to the business at all.

It is something junior can put on his resume/cv. That is why it has juniors own blockchain coin as payment and not normal payment like cellular prepaid voucher.

 

[CartoonFan]

It is something junior can put on his resume/cv. That is why it has juniors own blockchain coin as payment and not normal payment like cellular prepaid voucher.

Yeah or not even an existing coin. No coin is n
ever going to gain mainstream adoption if everybody starts their own new coin for every tiny business.

 

[Tim_vb]

What backs their Solana-based stablecoin, and why are they leveraging the blockchain when a traditional credit system could have provided the same? I understand that they would wish to build dApps and so on, but stablecoins are risky business which brings me to the last question whether users will be able to exchange?

They sure had a look at Helium and the like, and I have seen some WiCrypt nodes here as well.

I like the idea, but the last thing I want to see is a supposed stable pre-paid R5, or rather VulaCoin, lose its value.

Also... what are they going to do about Solana's immaculate uptime?

I'm also interested in this part - what problem does the cryptocurrency actually solve?

The end user still has to pay for the crypto using cash or card this means they have to partner with the likes of Pay@ or Electrum to get the voucher\crypto sold for cash. One the end user has a voucher they could easily load a credit to the users account and even let users transfer credit to another account - all using the power of MySQL for almost 0 cost. All this and more without being exposed to SBF and CZ slugging it out for control of the cryptoverse

 

[DarkSA]

Those Mercs, BMWs, and GTIs are already chowing the maximum of their disposable income. No way you can squeeze in another R1k monthly expense.

Well that is true. A Friend of mine had a debt councelling business about 10 years ago, and even though government had the various credit laws in place, some sectors of society (make and deduce of this what you want) were still allowed to use up to 100% of desposable income for debt. There was a lady who earned R12k per month, yet her debt per month was R16k. A Coworker of mine, had a brother who got a job paying him R12k per month, and the rocket scientists (or matric math failure) in him, edged him into buying a car which cost him R11k per month. The car was just to show people in the township that he had "arrived" at the good life. No wonder maths literacy (or as I like to call it, plastic maths) was introduced. People couldn't cope with you have R10, you can only spend R10 concepts, so colonial!

 

[Swa]

Firstly let's stop calling squatter camps townships so as to give them legitimacy. These are also not "homes" as those are permanent build structures. Secondly there is nothing lasting here so you'll have to keep on reconfiguring your network to cater for new users as well as those disappearing. The "electrical distribution" poles are illegal connections so I don't see them working in harmony with this. There's also not even 180 million people let alone homes.

With that out of the way let's be realistic about it. You are giving people who are already subsidised something below current costs. When that is the case it always ends up being subsidised by someone as well, increasing the cost for everyone else making even more of these "projects" necessary. And then we have

Was waiting for one of these type comments to make everything rotten

these ones who only think about the current have's and the takers. There are plenty of low income suburbs in the middle who had nothing to do with the past who are always left behind because everyone always only thinks about starting from the two ends. Happens with every new technology until it's forgotten and they move on to the next doing the same.

There's no reason you can't do the same with aerial fibre in every neighbourhood. As other countries have done get everyone connected first for cheap. Users who then want a better faster service can pay more and subsidise the rest. Using one user to subsidise another based on their profile is something that never works and only drives the real cost up for everyone. We should be working to reduce the overall cost to R200. Anything towards giving special treatment for premium services to a subset of users that already leach from society simply keeps the gap between the haves and have nots.

 

[Swa]

What backs their Solana-based stablecoin, and why are they leveraging the blockchain when a traditional credit system could have provided the same? I understand that they would wish to build dApps and so on, but stablecoins are risky business which brings me to the last question whether users will be able to exchange?

They sure had a look at Helium and the like, and I have seen some WiCrypt nodes here as well.

I like the idea, but the last thing I want to see is a supposed stable pre-paid R5, or rather VulaCoin, lose its value.

Also... what are they going to do about Solana's immaculate uptime?

The way I understand it it's not a stablecoin but a simple token they control and sell for R5 that can be resold. They're misusing the term here for hype as they're using crypto to solve a problem that already has solutions.

 

[netstrider]

Five-bob interwebs. Klink lekker.

 

[Tim_vb]

People in townships don't like to pay for anything. Good luck, white prick. You must be either naive to the point of it being a crime or a imperialist that has only been living in this country for 6 months.

have you tried tai chi or yoga to manage with your anger issues