Readii Unveils Pay-to-Browse Web3 Internet Service in Australia
Readii, an Australian startup, has launched with the goal of pioneering a new segment of the telecoms industry by using web3 technology. The company’s leaders have backgrounds at both Telstra and Stripe. Readii, a Sydney-based telecommunications firm, has launched a new web3-enabled Internet service. Users can make cryptocurrency simply by surfing the web thanks to this service.
The launch of Readii aims to bridge the gap between web3 and cryptocurrency and home internet access. It also seeks to make cutting-edge innovations available to the public. To enter the web3 domain, one must usually pass a difficult initiation process that requires knowledge of a complex language and a relatively new technical infrastructure.
By eliminating entrance barriers like lengthy cryptographic keys and high gas costs, Readii strives to make web3 more accessible and legitimate. The core of this business is the company’s proprietary router, which is based on Web3 technology. This router not only connects users to the internet but also protects their private cryptographic key, making it simple to conduct cryptocurrency transactions over the network.
The router’s built-in security features, such as multi-party computation (MPC), further ensure that the key is never lost or stolen. In exchange for their participation in the Readii network, users are given 10% of the company’s native token, $RDI, a cryptocurrency. Customers may redeem this token for a discount on their monthly internet subscription, or they can mine it for cryptocurrency incentives. Readii tokens may be bought and sold for both Bitcoin and ether. In addition, internet service subscriptions may be purchased using cryptocurrency.
Customers will also be able to use a router-compatible mobile app to maintain their web3 identities and make use of their credentials on the go. In addition to his role as a co-founder at Stables, Daniel Li is also a co-founder of the aforementioned venture. Users may put their stablecoins to use immediately using the company’s digital Mastercard. Before that, he founded two successful technology companies in Australia: ReadiiNet and ReadiiTel. Readii’s second co-founder, Mark Collins, now serves as the company’s chief product officer. Before joining Stripe, he had positions at Zip Co. and SiteMinder.
Li said the telecom sector is open to new ideas and disruption. Before now, there was not much of a difference between ISPs because of how well the NBN Co network in Australia and similar networks elsewhere worked. We will be able to provide real economic benefits to our Australian customers by using web3’s features. According to Collins, “Readii provides a tangible way for clients to engage with web3.” This is true not only for those who make money in the cryptocurrency industry but also for those who want to learn more about and take part in the rapidly developing technologies that are rapidly becoming an integral part of modern life.
Readii’s nationwide rollout in Australia is expected to be completed by the end of June 2023. When the time comes, we will let you know all you need to know about the token airdrops. RDI will be distributed with support for other cryptocurrencies in the coming months.
Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.