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All Emerging Technologies Promise A Better Future: Suruchi Gupta, GIANT Protocol
All emerging technologies promise a better future. Similarly, 5G promises faster speeds, less lag, and the ability to connect to more devices than ever before. The GIANT platform is technology agnostic and can support 5G networks when they become readily available, said Gupta.
Photo Credit : Suruchi Gupta - CEO & Founder of GIANT Protocol
Over the last few years, the digital world has witnessed sharp changes and major disruptions around the globe. The new era termed as Web 3.0 is developing with innovations in decentralised finance (DeFi), blockchain, cryptocurrencies and distributed ledgers as its foundation.
The market capitalisation of cryptocurrencies stood at $2.2 trillion and the total locked value in DeFi protocols increased by over 1000 per cent year-on-year (YoY) in December 2021. In the present world, approximately every aspect of banking, lending and trading is controlled by centralised systems, handled by governing bodies and gatekeepers.
GIANT Protocol, created by the GIANT Foundation is a native blockchain that aims to decentralize and democratize access to connectivity and financial services by tokenizing bandwidth. Cashing in on the emerging technologies, the main objective of the blockchain project is to connect to more users and devices than ever before.
In an exclusive interaction with BW Businessworld, Suruchi Gupta, Chief Executive Officer (CEO) and Founder of GIANT Protocol talked about her project, 5G technology, Non-Fungible Token (NFTs) and more. Edited excerpts:
1. You aim to connect the world using internet connectivity based on a decentralised economy. Can you elaborate on this?
Ans- Access to connectivity and financial services should be a basic human right. There are more than 5.18 billion people that spend more than $2 trillion to access the internet every single year. So by turning the money that we already spend on bandwidth into a global, digital asset, GIANT makes it easy, and intuitive for real-world users to become a part of the blockchain revolution. It creates a new web3 telecommunications layer that tokenizes bandwidth, making it possible for the majority of the world to use, own, and earn crypto, simply by going online.
2. Tell us more about the GIANT (Global Internet Access Network Token) Protocol?
Ans- GIANT Protocol, created by the GIANT Foundation, is a native blockchain that aims to decentralize and democratize access to connectivity and financial services by tokenizing bandwidth. It introduces a new web3 telecommunications layer to coordinate, tokenise, and financialise ownership of the entire telecom ecosystem. The tokenized bandwidth platform enables anyone with a smartphone to join and become a part of this global connectivity economy. We go into details about this in our LitePaper.
We recently also launched our first decentralized application, GIANT Connect. It allows anyone from anywhere in the world to connect to inflight WiFi on over 2000+ aeroplanes, LTE in over 45 countries, and ground WiFi at 68M+ hotspots in 180 countries. Moreover, users can also get rewarded for going online and using the internet. Download the GIANT Connect app to check it out.
3. What about the investment, as far as the establishment of GIANT is concerned?
Ans- The $5 million investment that we received at the end of 2021 was raised through financing, led by CoinFund, a well-known top-tier blockchain-focused investment firm with the goal of shaping the global transition to web3, along with a number of other tiers one investors including Blockchange, Gumi Cryptos, Entheos Ventures, Argonautic Ventures, and Bronco Ventures Fund.
4. How is your company empowering the business space?
Ans- GIANT aims to empower connectivity as well as financial services providers to become a part of the new blockchain-enabled era without any hassle. In our LitePaper, we discuss how decentralised protocols promise more open and inclusive connectivity and financial services but remain inaccessible for the majority of the world. By supporting tokenized bandwidth, connectivity providers can offer better connectivity and financial services, and make accessing the internet more fun and rewarding experience for their customers.
5. Do you think 5G is going to revolutionise the business ecosystem?
Ans- All emerging technologies promise a better future. Similarly, 5G promises faster speeds, less lag, and the ability to connect to more devices than ever before. The GIANT platform is technology agnostic and can support 5G networks when they become readily available. We envision 5G potentially making it possible for consumers to share their networks with other users, making bandwidth more accessible to all and are looking forward to this future.
6. Can you explain how you are taking crypto and blockchain to the next level with GIANT?
Ans- The GIANT Protocol turns bandwidth which is already one of the worlds’ most widely used utilities into a global, digital asset, enabling the majority of the world to become a part of the blockchain revolution, simply by using the internet. This opens up a world of possibilities like never before for everyone, the consumers, businesses, telecom providers, as well as governments around the world. At GIANT, we invite everyone to build a more open and inclusive internet that is owned and governed by all its participants.
7. What are the major changes you witnessed after the COVID-19 pandemic in the Indian business ecosystem?
Ans- We all know that COVID-19 has been tough for small businesses. At the same time, some of the best businesses around the world were started during the most trying times. We are seeing a similar entrepreneurial wave ignite in India. The TV show Shark Tank India aired at the perfect timing, further fueling this fire that already sparked in our homes. The future is in the hands of the entrepreneurial minds that are undeterred by tough circumstances like these and are instead focusing on making the best use of their talents, passions, and drive to build a better India, and therefore a better world for everyone. Similarly at GIANT, we are also focused on building a key fundamental infrastructure for humanity that can outlive all of us.
8. Any other future trends you anticipate in 2022?
Ans- Last year, we saw the arrival of NFTs. This year I think is the year of the DAOs (decentralized autonomous organisations), and resource networks like GIANT. I am quite excited to see this in action. What makes me super proud is also to witness the growing number of female founders, and people from diverse backgrounds building for the web3 era. We are still in the early stages and there are lots of exciting things to follow.