Stefan Rust to Help Grow Nodle Cash, a Cryptocurrency for IoT Built on Polkadot
San Francisco, CA, Sept. 30, 2020 (GLOBE NEWSWIRE) — (via Blockchain Wire) IoT connectivity and security startup Nodle announces Stefan Rust, former CEO of Bitcoin.com, a leading proponent for Bitcoin Cash (BCH), bringing P2P cash to the world, will join Nodle’s Board of Directors. Nodle Cash is the cryptocurrency of Nodle that smartphone users earn by connecting to nearby sensors and Bluetooth-enabled IoT devices.
Stefan Rust will focus on ecosystem growth efforts for Nodle Cash to increase the user base and decentralization of the Nodle Network, as well as grow the developer community and secure adoption with strategic partners. Rust brings his extensive experience in mobile and blockchain, both as an entrepreneur and as a business leader of a multibillion dollar technology, specializing in turning cutting-edge technologies into commercial success.
“Nodle Cash is a manifestation of my background in blockchain and wireless — combined with the business model of tomorrow — where the user gets paid,” Rust said. “We started off with big telcos charging us a lot of money to communicate over the network. Along came IP, and all we did was pay for connection. With social media, we pay with our data. Nodle Cash is one of the first payment systems where you get paid for the data you provide which in turn allows businesses to improve their service.”
Nodle Cash is the cryptocurrency for the Nodle Network, in which app users are rewarded for providing connectivity to nearby Bluetooth-enabled IoT devices by allowing tiny bits of data to securely move from sensors through their phones to the cloud. This dramatically reduces the costs for enterprises and smart cities to gather data. The community of smartphone users who get rewarded for participating in the network is dubbed The Citizen Network. Currently the best way to earn Nodle Cash is through your smartphone with the Nodle Cash app or partnering with developers implementing our SDK in their apps.
Nodle Cash started on the Stellar Blockchain, and after processing more than 1.3M microtransactions a day, Nodle migrated to the Polkadot ecosystem, with its own chain, the Nodle Chain, built on Parity Substrate. Through the Polkadot Ecosystem, the Nodle Chain enables connectivity, micropayments and a whole set of applications for IoT devices.
“We are excited to work more closely with Stefan Rust,” said Micha Benoliel, Nodle’s CEO and Co-Founder. “Stefan was an early advisor to Nodle, he will contribute a lot to our next evolution towards a fully decentralized architecture. Stefan brings a world of experience in developing ecosystems for decentralized networks and has made a career out of operating on the cutting edge.
Nodle is a decentralized wireless network composed of millions of smartphones connecting people and things privately and securely. Founded in 2017 by serial entrepreneur Micha Benoliel, the Nodle Network dramatically reduces the costs of IoT device communications. Nodle’s privacy-first, IoT networking stack enables for a multitude of applications, ranging from social distancing, contact tracing, connecting and securing physical assets, moving sensor data at low cost, and security certificates, to providing insights for consumer electronics manufacturers, enterprises, smart cities, and the finance industry. The Nodle Network is global, with 5 million daily active nodes and 100 million devices connected every week across 100+ countries. Nodle is backed by Blockchain Ventures, Blockchange, Bootstraplabs, Olymp Capital, Blockhead, Mark Pincus from Zynga, Pierre Andurand and Greg Kidd. For more information, go to https://nodle.io or follow us on Twitter @NodleTeam.
About Stefan Rust
Stefan was most recently the CEO of Bitcoin.com. Navigating regulations competing against the national telecom operator, Stefan helped change the mobile landscape in China. He then moved on to Sun Microsystems where he worked to create an ecosystem that brought content and apps to mobile with Java. After having bought his first Bitcoin in April 2012 and using it to pay developers directly, he realized the staggering potential of this global decentralized censorship-resistant currency. He has also advised tech giants like Qualcomm, Red Hat, Sony, Siemens, Limelight Studios, and many others in their developer-led innovations. You can follow Stefan on Twitter @srust99.
Director of Communications