Thread by @TusharJain_

1/ Today I am very excited to announce that Multicoin co-led a $15M investment into @helium with our friends at @usv.

This is the most compelling vision I have seen in the blockchain space since smart contracts on Ethereum. Link to the announcement at the end of the tweet storm.

2/ Telecom connectivity is one of the most capital intensive, centralized, regulated, and difficult markets for new entrants in the world. Telecom is also absolutely perfect for a blockchain based protocol to asymmetrically compete with the incumbents.

3/ Today if you want to connect an IoT device to the internet, you have to pay a legacy cellular carrier $32 up front and then another $30 per year. This is entirely uneconomical for the vast majority of IoT use cases.

marketplace.att.com/products/att-l…

4/ If you are deploying 10,000 sensors to track scooters around a city or cattle around a farm, these fees from legacy carriers are just too damn high!

If you are deploying traffic sensors at every intersection to optimize traffic flow, legacy carriers will charge too much.

5/ If you are manufacturing an IoT device, you need to negotiate contracts with wireless carriers in every country you are selling your product. That is a crazy amount of overhead and limits the pace of innovation.

6/ With Helium, there are no set up fees to add an IoT device to the network. There are no monthly charges, you only pay for the data you use.

Therefore the Helium network is *extremely* cost effective.

7/ I believe Helium will do for IoT what AWS did for internet companies. By dramatically reducing the cost for IoT businesses to operate, Helium will enable a Cambrian explosion of new IoT devices and businesses.

8/ To learn more about how it works, read our announcement post here. Also give @helium a follow and keep your eye on them as they make new announcements.

multicoin.capital/2019/06/12/hel…