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Brian Armstrong, the CEO of Coinbase gives a new business idea, a Wi-Fi access point that accepts crypto.
Is Coinbase not making enough money that they want to diversify their business? Are my funds safe in Coinbase?
Before thinking way too far, the business idea is actually a series of tweets that the CEO, Brian Armstrong uttered on his Twitter account.
He started with a question if anyone has tried creating a wi-fi access point that accepts crypto. “Plug it in and it makes you money,” he tweeted.
Armstrong then elaborated his idea by stating his fact that most apartments or dense housing are within the range of many access points, all of which are password protected, although each may only have 1% utilization during the week.
He said that if someone is “tenacious enough” to deal with lots of small details, such as the tricky integration with numerous low level OS stuff or firmware and create a paywall for all protocol would be very likely to create a value worth using and paying for.
5/ lots of little details to get right, but this is how value gets created for someone tenacious enough
— Brian Armstrong (@brian_armstrong) January 22, 2019
The responses on the tweets vary, some are relevant, some aren't.
@XRP_News responded by saying, "Slow down, Brian. Why don't we try to get BTC accepted at Starbucks first?"
A developer said, “This is pretty easy (can build it in a day, WiFi, captive portal, wait for XRP/ILP payment to unlock internet). However, I’m seeing a trend where captive portals are being used less and less: more free and open WiFi. Or is it just me?”, while others are referring to the projects that they claim to be doing such thing or at least have a similar concept, such as Althea, OpenGarden, Substratum, or Helium.