As I reflect upon my journey through the ever-evolving world of blockchain and decentralized technologies, I find myself profoundly inspired by the tenacity and vision of Frank Mong. Born and raised in the “slums” of San Francisco, Frank has navigated the treacherous terrain of physical infrastructure deployment with a resilience that rivals the city’s famous cable cars.
In the year 2024, a multitude of DePIN projects flourished, and one decentralized physical infrastructure network stood out as a trailblazer: Helium. This pioneering network was initially conceived by Amir Haleem, Shawn Fanning, and Sean Carey as early as 2013. It wasn’t until 2019 that the team launched IoT hotspots, enabling users to share wireless coverage and receive tokens.
As a researcher, I find it incredibly rewarding to witness the flourishing of DePINs this year, with estimates suggesting around 1,300 have emerged so far. It’s fascinating to observe new businesses materialize in 2024, each with innovative ideas and practical applications for Helium’s economic model. These ventures are designed to leverage real-world physical infrastructure, a process that can be time-consuming but ultimately proves to be incredibly powerful.
Mong particularly likes mapping as a DePIN category and recommends that people watch Hivemapper.
Helium Mobile currently serves approximately 100,000 subscribers, earning revenue by transitioning customers from traditional mobile service providers. In urban areas such as New York City, Miami, and Los Angeles, it operates like a supplementary network within buildings. Prior to 2023, Helium operated on its own blockchain; however, it has since shifted to Solana.
Mong hails from the Tenderloin in Downtown San Francisco, which he calls “the slums of the city.”
Helium continues to deploy at a lightning rate. In Portugal, its hotspots form parts of smart cities and smart utilities. U.S. Pacific Gas and Electric is using Helium for wildfire detection, and the U.S. Geological Survey uses the network for flood detection in Madison, Wisconsin. Nova Labs (the company that created the open-source tech) also has a beta test underway with Telefonica in Mexico to provide hotspots in certain neighborhoods, showing how Helium, and DePIN, is increasingly becoming part of real infrastructure.
Mong expressed that the path ahead is a lengthy one, but the effort is worthwhile. He explained, “The first step is making that leap. You simply have to take the plunge and trust that you’ll land safely. That part might be the most challenging. Once you do it, the journey becomes incredible.
“Understand that it’s going to be a lengthy process. Creating physical items requires time for refinement, so embrace the journey and remain patient.
This profile belongs to the list of CoinDesk’s Most Influential Individuals for the Year 2024. To view the complete list of nominees, please click here.
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2024-12-10 18:54