Mycelium Networks is a local NWA company and deployer of decentralized networks bringing the future of blockchain-based technology to the region. Mycelium’s overarching goal and mission is to accelerate world’s adoption of decentralized networks. The Fayetteville based company is turning the area into a tech hub for the new world of web3 by building a Helium blockchain-based ecosystem. Helium is a decentralized, base-layer protocol, that will build a local network interacting with blockchain-based web applications, IoT devices, and more.
In an interview with Rishi Mittal, the Founder & CEO of Mycelium Networks, he emphasized that when he first learned about Helium, it gave him the same feeling he got when he first heard of Bitcoin about 10 years ago. He drew an analogy between Bitcoin and Helium, pointing to the similarity that Bitcoin introduced decentralization of money, and Helium has the potential to do the same for information.
Mittal elaborated on the inspiration and motivation behind starting Mycelium Networks. He recollects how 10 years ago, he found out about Bitcoin in its initial days and with his friends, and built a mining rig. This sparked the thought that, not going through the centralized process for money is an implication of what blockchain can do. Rishi moved to Fayetteville 5 years ago and now he calls this his home. Last year during pandemic lockdowns, Rishi founded Mycelium Networks. In a little over a year, Mycelium Networks has quickly become a leader in the blockchain tech space with a goal of putting Northwest Arkansas on the global map and providing world-class opportunities to its community. With Helium, he believes that there is a lot that blockchain can do with all kinds of information and not just money. He also emphasizes on how community focused mycelium networks is.
He also pointed out the reasons for choosing NWA is that it is a great community that is open and has a lot of young energy. Mycelium is working towards building a network that can be used by anybody in Northwest Arkansas. They have started a builder’s program to work towards the testing and building of the network. Also, to transition or start their businesses onto the network. The main reason behind this program is to empower community to create and to build on the network that is reliable. With this builder’s program, they are giving away $1M worth of data to students, entrepreneurs and anyone in the community.
Rishi Mittal elaborated on how complicated and sometimes time taking it could be to bring in new technology. It needs a lot of creativity, new business strategies and processes. Essentially, rethink the process and strategies. He mentions that educating the community is another big task with new technologies. This process has been both important and rewarding for Mycelium networks over the course of time. Their efforts in Mycelium Networks continue towards deploying resilient wireless communication networks powered by blockchain technology.
For more details on Mycelium networks, click here.
Article Written by: Srividya Yellepeddi, Graduate Assistant
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