AirFox is a blockchain-based platform that promises to offer mobile access for all at a cheaper rate. Here’s our AirFox review.
What Is AirFox?
AirFox, found online at AirFox.io, is an Ethereum-based platform that aims to reduce costs in the world of mobile communications. AirFox was founded in 2016 by ex-Google employers who saw an opportunity to use cloud computing to lower costs in the field of mobile technology. Today, AirFox is harnessing the power of blockchain technology to achieve the same benefits.
AirFox has been in the news lately for its “AirToken”, which they’re describing as “the token for mobile access”. The AirFox technology harnesses the decentralized power of the Ethereum blockchain using a digital ledger of the user’s mobile phone data as well as advertising and proprietary credit score algorithms to reward and finance users with AirTokens.
Another key part of the AirFox ecosystem is the AirFox Android apps (available for free) and the AirFox browser. Apps like AirFox Recharge allow prepaid mobile subscribers to earn free AirTokens through advertising and micro-loans from anywhere on the planet. These tokens can then be used for mobile data to over 500 wireless carriers.
How Does AirFox Work?
AirFox is a combination of three crucial components, including the AirToken (the digital currency), AirFox Recharge (the mobile app), and the AirFox Browser (the internet browser).
Together, these three components promise to reduce the cost of mobile internet and increase access to mobile capital. As the AirFox website explains,
“Mobile internet affordability and mobile capital accessibility are the main prohibitors for users to have unfettered internet usage.”
Centralized, large telecommunication companies, big banks, and governments make it unfeasible for users in emerging markets to create capital and have access. In fact, poor people end up paying more for banking and telecommunication access than the rich – at least, according to AirFox’s official website.
AirFox plans to solve this “mobile dead capital” program in order to unlock mobile accessibility for the undeserved.
How does the company plan to do that? To do that, AirFox plans to harness the power of the Ethereum blockchain and advertising to give users AirTokens. That token can be redeemed for mobile data. In the future, it will also be redeemable for physical and digital goods. Users can establish credit history through their opted-in device data and advertising behavior, which allows AirFox to fund micro-loans via AirTokens to any user with a smartphone.
If AirFox sounds ambitious and unrealistic, then consider this: the platform has already integrated with hundreds of wireless carriers. AirFox has begun buying mobile data in bulk in order to take advantage of economies of scale.
Overall, AirFox plans to replace the current mobile ecosystem with a more efficient, decentralized mobile ecosystem encompassed around the AirToken. The ultimate goal is to enable more efficient communications and transactions between wireless carriers, publishers, advertisers, and mobile users.
Basically, AirToken is an ERC20 token that unlocks free mobile internet through advertising and micro-loan rewards. Users can earn AirTokens by viewing advertisements or claiming micro-loans (you can opt into advertisements, for example). These tokens are redeemable for mobile data recharges across 500 wireless carriers (AirFox has already purchased mobile data in bulk from these carriers).
Here are some of the key features for all parties involved:
Users receive AirToken rewards for opt-in advertising (instead of the ads being an invisible burden on their data) and micro-loans of AirTokens based on the AirFox user’s internal “credit score”). Basically, instead of automatically receiving ads on your mobile device without compensation, AirFox will pay you to opt into advertisements (in the form of tokens redeemable for mobile data).
AirFox will programmatically buy airtime and data in bulk from carriers. Carriers want to maximize spectrum and data usage from subscribers in order to maximize revenue. AirFox already allows its users to purchase data from 500+ carriers, and they claim to have been purchasing data in bulk from these carriers to save money through economies of scale.
Why would publishers pay users to view advertisements instead of just displaying ads for free? With AirFox, publishers can have higher monetization, new user reach, and a better user experience. Publishers can implement their AirToken reward, micro-loan, and advertising system to enable higher user output.
AirFox plans to move through three different phases. In Phase 1, users will earn free AirTokens for mobile recharges across 500+ wireless carriers. Users can earn AirTokens through the AirFox Browser or the Recharge app.
In Phase 2, qualified users will be able to redeem micro-loans of AirTokens by collaterizing their prepaid account balance and using the AirFox internal scoring algorithm (similar to your credit score). AirFox will also expand the use of AirTokens for items outside of mobile recharges. By Q1 2018, AirFox plans to allows users to redeem micro-loans of AirTokens for physical and digital products across the ecosystem.
By Phase 3, the use of AirTokens will extend to a wider network of publishers and advertisers. AirFox hopes to begin this phase by Q3 2018.
Who’s Behind AirFox?
AirFox is led by ex-Googler and UC Berkeley alumnus Victor Santos (Co-Founder and CEO), ex-Googler and Harvard alum Sara Choi (Co-Founder), and James Seibel (CTO).
To date, the company has raised $1.2 million in 2 rounds of funding from 5 investors. AirFox is headquartered in Boston, Massachusetts.
AirFox is a blockchain-based ecosystem that plans to revolutionize the worlds of mobile data and mobile advertising. Users can opt-in to view relevant advertisements, then receive payment in the form of mobile data (which comes in the form of AirTokens). The company was founded by two former Google employees.
You can learn more about AirFox today by visiting AirToken.com or AirFox.io. There are three core parts of the AirFox platform, including Recharge (the mobile apps), the browser, and the AirToken token, and all three have their own websites – so it can be a bit confusing.
In any case, stay tuned for more information about AirFox as the company goes through its token sale.