Erik Finman, 21-year-old bitcoin millionaire, proves cryptocurrency revolution can spread without smartphones, Metal Pay
Erik Finman, a 21-year-old high school student, who made millions of dollars in bitcoin, transferred cryptocurrency from outer space to a school in the Greater Accra Region of Ghana on November 4. No internet or smartphones involved. No fuss, expensive infrastructure.
Erik Finman, an
Finman bought $ 1,000 worth of bitcoins in 2011 when each bitcoin was worth between $ 10 and $ 12. He owns 446 bitcoins, which at Friday’s price were worth $7,243 each, for a total value of $ 3.2 million.
Erik Finman broke one of the biggest legends about cryptocurrencies: that it can reach unlimited levels in remote areas or low-tech areas with the internet or where people are living without an iPhone or laptop.
Finman sent $ 1,000 MTL, the indigenous digital asset of the crypto pay platform Metal Pay, to St. Maryedom in Korle Gonno in the Greater Accra Region of Ghana. The funds are sent to St. Mary, was used to repair the school’s roof and to build new benches and tables.
MTL was created for everyday use, allowing people to trade, store, exchange it with other cryptocurrencies, make payments or withdraw cash to a currency. MTL is a cryptocurrency used by the crypto pay platform Metal Pay, which was launched in August with Finman as an investor. Finman called Metal Pay “the Facebook Libra killer”.
Finman who is trying to solve economic and social problems by using a combination of new technology, old technology and ingenuity.
Experiments are plentiful in the world of cryptocurrencies, where entrepreneurs and computer scientists are honing radical innovations to build a replacement money system and a new global infrastructure for finance.
Finman’s “crypto space drop” is a bold move that shows the potential of the digital economy. It replicates the way money is distributed and emphasizes why commercial banks and traditional savings and checking accounts exceed the limit of about 1.7 billion people around the world. It is not appropriate to go to the last mile and help eliminate the entire poor population.
Finman said, “Cryptocurrency + satellites = anyone in the world can participate in the economy.”
The team at Metal Pay said it was working on the next steps to make cryptocurrencies a trend with easier transactions, intuitive design, responsive markets, and global coverage. They have announced an early access version of Metal Pay for Android.
Finman sees the power of cryptocurrencies
The “crypto space drop,” as it is known, occurred in early November. Finman shines cryptocurrency on a chain of satellites and through the antenna on Earth. While we’ve all heard of “airdrops” before, this is the first time such an event has occurred in outer space.
Image via Instagram
In an interview, Finman explained:
“We want to demonstrate that this would work even in the most remote places without the most functional infrastructure, money infrastructure, financial infrastructure.”
The digital currency issued to Ghana, in this case, is called MTL, and it was deposited to St. Mary’s School in Korle Gonno. The money will be used to build schools, currently in a state of instability.
He commented: “If I need it, I would be willing to put all my bitcoins here. I was ready to bet it all”.
One of the satellites used to send money down to the recipient was launched by Finman himself over a year ago.
Finman first got involved in bitcoin at age 12. He received a $ 1,000 check from his grandmother. He agreed with his parents that if he could invest money and become a millionaire when he grew up, he wouldn’t have to go to college.
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