How Spacecoin Plans to Bring the Internet to Billions on Just $2 a Month

In 2017, Tae Oh set out to bank the unbanked. His company, Creditcoin, invested in digital infrastructure for lending systems across Nigeria. However, as they onboarded millions and disbursed over 100 billion Naira in microloans, it became evident that you can’t help people who can’t get online.

This realisation led to a significant pivot—from fintech to space technology. Today, Tae is developing Spacecoin, a decentralised satellite network aimed at connecting communities that currently exist outside the digital landscape. The mission is ambitious: to provide affordable, decentralised connectivity for the 2.6 billion people who remain unconnected to the internet, starting with Nigeria, Indonesia, and India.

“We quickly realised that a lot of these unbanked people were also unconnected. They simply lacked the digital connectivity to access any online financial services. That became a bigger problem for us to solve,” Tae told Innovation Village.

Not Just Another Starlink

When most people hear “satellite internet,” they immediately think of Starlink. However, Tae isn’t concerned about that. He isn’t aiming to provide high-quality streaming for gamers or crypto enthusiasts. Spacecoin is focused on serving a different audience, like the teacher in Katsina who needs access to lesson plans, the nurse in Sokoto uploading patient records, and the farmer in Indonesia checking weather updates.

Unlike Starlink or OneWeb, which are centralised and expensive, Spacecoin operates on two main principles: decentralisation and affordability. The network is built on a blockchain-powered model known as DePIN, or Decentralised Physical Infrastructure Networks. While the term may sound complicated, the concept is straightforward: instead of a single company owning all the satellites and dictating the rules, Spacecoin invites various contributors—companies, projects, and even individuals—to provide satellites and bandwidth.

“In the case of Spacecoin, we connect physical satellite infrastructure to the blockchain and operate it in a decentralized manner. Meaning, anyone who owns or launches a satellite can participate in the Spacecoin network,” Tae explains. “By holding Spacecoin tokens, users participate in network governance and pay for services.”

The Nigeria Link to Infrastructure, Inclusion and Intent

In Nigeria, Spacecoin is not just a theoretical concept; early testing is already in progress, both directly and through the existing infrastructure of Creditcoin. Over 2 million Nigerians have accessed loans through Creditcoin, and this established relationship serves as a foundation for the rollout of Spacecoin.

However, there are significant challenges to overcome. Spectrum licensing varies from country to country, and community engagement requires proficiency in hundreds of languages and dialects. Additionally, while satellite deployment is crucial, ensuring consistent service, user education, and local support systems is essential for success.

To address these challenges, Spacecoin is collaborating with telecommunications companies in Nigeria, India, and other regions. This partnership aims not only to secure spectrum access but also to co-develop deployment models that respect local dynamics. In Nigeria, for instance, this may involve partnerships with telcos that are already established in northern rural areas. In India, it could entail developing layered billing integration or ensuring technical interoperability.

“In the countries where we partner with local telecom operators, they will handle any customer-facing support since they are most well-versed with the local context, customer needs, and language,” Tae says.

“Uptime and service reliability, however, will be completely our responsibility since it is tied to the satellite network that we will operate. As we add more satellites to the network, the uptime will continue to increase.”

$2 a Month, and Still Profitable?

The pricing model is incredibly ambitious, ranging from $1 to $2 per user per month. This is not a typo. In most African countries, Starlink currently charges ten to fifty times more. However, Tae is confident that the financial calculations support this model. Based on projections of satellite lifespans and costs, Spacecoin only needs around 850,000 monthly users to break even. Nigeria, India, and Indonesia together have 800 million people who are not yet connected to the internet.

“Globally, there are 2.6 billion people without any internet access today. If we capture even a fraction of these users, it is still a lucrative business model.” Tae says.

Measuring Impact Beyond Signal Strength

What does success look like? It’s not just about having more people online; it’s about more people actively participating in the economy—borrowing, saving, selling, and learning. Through Creditcoin’s decentralised finance (DeFi) infrastructure, Spacecoin will monitor on-chain indicators of financial inclusion, such as the number of microloans issued, transaction volumes, and the formation of digital identities. Once connectivity is established, they will also track the usage of decentralised applications and services in remote areas.

In the long term, Tae hints at an even more significant development. Spacecoin’s satellites are equipped with a patented Proof of Location (PoL) technology that enables GPS-verified geospatial tracking without the risks associated with spoofing. This technology has the potential to revolutionise various sectors, including disaster relief, supply chain management, and last-mile delivery in Nigeria and beyond.

Building for the 99%, Not the 1%

At its core, Spacecoin is not just about satellites; it’s about power. Who owns the infrastructure? Who sets the terms of access? Who gets to participate?

Tae Oh isn’t merely launching a constellation of satellites, but challenging the centralised systems that have dominated both the internet and financial services for decades. He is starting this effort in places where the stakes are highest: rural Nigeria, island villages in Indonesia, and underserved districts in India.

If he can establish a resilient network in these areas, at just $2 a month, available in Hausa, Fulani, Igbo, or Bhojpuri, then he might not just be launching satellites. Instead, he could be pioneering a new kind of internet altogether.

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