On November 4th 2019, A 21 year old American Bitcoin millionaire, Erik Finman completed a “Crypto space drop” to a school in the Greater Accra egion of Ghana, West Africa, reported BusinessInsider on December 15.
He beamed cryptocurrency down from a constellation of satellites in outer space to an antenna at the school.
Commenting on his motivation, Finman sees the crypto space drop having applications for delivering cryptocurrency to locations without strong infrastructure.
A high school dropout, Finland currently holds 446 bitcoin worth about $3.2 million as at Friday. He had made a wise investment in bitcoin at 12 when he bought $1,000 worth of bitcoin in 2011, when each was just worth $10 to $12 and now, he is also a crypto-philanthropist.
The space drop he said, was his latest endeavor by which cryptocurrency could be sent through a constellation of satellites to an antenna on earth. Speaking to Business Insider, Finman said that the crypto space drop had a real use case and applications for communities with little infrastructure.
“We wanted to show that even in the most remote places that don’t have the most functional of infrastructure, money infrastructure, financial infrastructure.”
A total of $1,000 worth of MTL was sent in the crypto space drop to St. Mary’s School in Korle Gonno in the Greater Accra Region of Ghana, and was used the funds to renovate the school building and furnishing.
MTL, which launched in August 2019, with Finman as an investor, is the cryptocurrency used by the cryptocurrency platform Metal Pay.
Speaking in his Metal Pay announcement video, he called Metal Pay the “the Facebook Libra killer,” saying,
“If it needs it, I’m willing to put all my bitcoin money into this.”
One of the satellites used in the constellation was a satellite Finman helped launch one year ago.
In December 2018, Finman led Project Da Vinci, for which a group of teenagers launched a satellite that included a crypto wallet. Project Da Vinci was part of NASA’s Educational Launch of Nanosatellites program, which attracts and retains STEM students and allows students to launch small satellites.
However, the crypto space drop would be a lost cause but for Kwame “Larry” Asante who built and positioned the antenna to receive the MTL. He also helped to convert the MTL into cash on the school’s behalf and delivered it to the headmistress of St. Mary’s School in Korle Gonno in the Greater Accra Region of Ghana.