Althea is a mesh internet provider using Ethereum’s blockchain for payments. If you paid for any internet on an Althea router before September of 2020 you probably have 400 Uniswap tokens (worth $12,000) just sitting on your router waiting to be claimed. This is all due to the way the Althea router controls your money and the fact that each router has a custom Ethereum address and private key.
I’ll try to explain: In order to pay your monthly bill you have to add money on your router. You can send Ethereum to your routers Ethereum address or you can use Wyre within the router to purchase Ethereum with Apple Pay or a debit/credit card in which case it will also be deposited on your Ethereum address. Now, the next part is where the magic happens.
“A majority of Althea’s users have no idea that crypto even exists.”
Once you have Ethereum in your account the router will automatically convert it to Dai (a USD stable coin, pegged to the US dollar) using Uniswap. After you have Dai in your account, the routers programming will automatically use the xDai bridge to swap to xDai which is where your money will sit until it is time for a bill to be paid and this also happens automatically.
The craziest part is that a majority of Althea’s users have no idea that crypto even exists or that Ethereum is what is being used to pay for their internet. They just use a debit card and the router shows them that the balance has gone up.