Decentralizing telecommunication networks financially benefits small businesses and telecom corporations alike, according to Frank Mong, the COO of Nova Labs, the founding team behind the Helium wireless decentralized physical infrastructure network. In an interview, Mong emphasized that local businesses, such as bars and restaurants, can share their Wi-Fi networks to expand coverage and generate revenue while large telecom companies can reduce operational costs by utilizing the Helium Network's telemetry. Currently, establishing a single telecom tower can cost around $300,000, necessitating one per block for effective 5G networks. By decentralizing this infrastructure, individuals with useful Wi-Fi can contribute to telecom services without incurring high costs. Nova Labs has formed partnerships with major telecom companies like TelefĂłnica and AT&T, aiming to enhance coverage in underserved areas. With over 95,000 mobile hotspots in the U.S. and numerous IoT hotspots worldwide, Mong believes that their success model should be replicated globally, focusing on collaborations with new telecom infrastructure providers to expand their reach.

Source đź”—