Partnership Announced to Enhance Internet and Financial Access via Decentralized Satellite Technology

Delaware, USA, December 6, 2024 — Creditcoin, Spacecoin, Sui, and Walrus have announced a strategic partnership to launch a decentralized finance (DeFi) initiative that aims to improve global internet connectivity and financial inclusion. The collaboration combines blockchain technology, satellite-based internet, decentralized storage, and scalable computing to address barriers faced by underserved communities worldwide.

The partnership integrates the strengths of each organization:

Creditcoin provides the financial foundation, enabling secure blockchain-based lending and borrowing.Spacecoin delivers global internet access using low-Earth orbit (LEO) satellite technology.Sui powers scalable and secure smart contracts for efficient computation.Walrus manages decentralized data storage for robust and reliable information sharing.

Bridging Connectivity and Financial Gaps

This initiative addresses two significant challenges: unreliable internet infrastructure and limited financial access in remote regions. Spacecoin’s satellite network will offer reliable internet connectivity in underserved areas, while Creditcoin’s blockchain will allow users to engage in secure, decentralized financial transactions.

“Nearly 37% of the global population lacks internet access, which limits their ability to participate in the digital economy,” the companies said in a joint statement. “By integrating satellite internet with decentralized finance and computing, this partnership can empower individuals and communities to connect, transact, and grow.”

Decentralized, Scalable, and Efficient

The project is built on a decentralized infrastructure that avoids reliance on traditional centralized systems. Key features include:

Peer-to-Peer (P2P) Financial Transactions: Creditcoin’s blockchain allows users to build verifiable credit histories while reducing costs and improving transparency.Global Connectivity: Spacecoin’s satellite-based internet infrastructure extends connectivity to remote areas.Scalable Computing: Sui enables fast and secure computation to support diverse applications.Efficient Data Storage: Walrus ensures cost-effective storage and data accessibility.

This integrated solution will allow underserved regions to access modern financial tools, participate in the digital economy, and benefit from transparent, cost-effective internet services.

Industry Perspectives

The initiative has been described as a practical solution to real-world problems. By providing tools that combine connectivity and financial access, the partnership seeks to create opportunities for individuals to participate in the global economy.

“Creditcoin’s mission is to democratize credit access and build a transparent financial network,” said a representative from Creditcoin. “Partnering with Spacecoin, Sui, and Walrus enables us to extend this vision beyond traditional boundaries.”

Spacecoin’s leadership emphasized the transformative potential of satellite-based internet: “Our technology provides reliable internet access where it’s most needed, ensuring no one is left behind in the digital age.”

About the Partners

Creditcoin: A blockchain platform connecting borrowers and lenders, fostering financial inclusion through secure, transparent credit transactions. Learn more.Spacecoin: A decentralized internet provider using satellite technology to bridge connectivity gaps globally. Learn more.Sui: A scalable blockchain platform supporting fast, secure, and user-friendly digital asset management. Learn more.Walrus: A decentralized storage network delivering robust, cost-efficient data solutions for diverse applications. Learn more.

This collaboration marks a significant step in leveraging decentralized technologies to address global challenges, enabling more inclusive access to essential resources and opportunities.