Tether, the multi-billion-dollar stablecoin company, has revealed a new business model that incorporates green energy and battery solutions in Africa. Paolo Ardoino, the company’s CEO, explained that the concept aims to empower African communities.
Ardoino described the use case as a bridge to establish a tech-based distribution network aimed at educating people about USDT and bitcoin. Africa currently faces a power crisis, with only one in every five citizens having access to electricity in sub-Saharan nations, and the entire continent generating less power than Spain.
Tether proposed a new initiative that would harness solar power across the continent, featuring a subscription model that includes USDT and bitcoin payments.
Including bitcoin as part of this initiative is a natural fit, as Ardoino has declared himself a bitcoin maximalist, even stating that its flagship product, USDT, will face obsolescence in a bitcoin-dominated future.
Read more: Tether CEO Paolo Ardoino: USDT Will Be ‘Useless’ in the Long Term
In social media, Adroino declared:
Imagine a kiosk in Africa, with solar panels on top to recharge hundreds of high performance batteries, offering monthly subscriptions to the local community (payable in local currency, Bitcoin LN or USDt).
The company hinted at a large rollout of these kiosks, suggesting the possibility of launching 10,000 or even 100,000 locations in the future.
The kiosks would also focus on educating customers about crypto and bitcoin, delivering ‘high-quality educational material and courses’ to empower these communities, according to Ardoino’s remarks.
The initiative is already operating in stealth mode, as Ardoino noted that hundreds of kiosks are already providing these services.
Tether’s newly revealed initiative comes as the company seeks to expand from its cryptocurrency origins into other industries in emerging countries, aligned with its objective of providing access to dollars to citizens in dollar-starved nations.
Tether’s expansion investments include green energy, artificial intelligence, bitcoin mining, biotechnology, and even agriculture in Latin America.
Read more: Make Farming Great Again: Tether Pushes for Majority Stake in Adecoagro
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