WorldWiFi: Using Blockchain to provide free internet
The wheel is widely regarded as the greatest invention made by human beings. There is very little that you can say to refute that claim. Wheel made transportation of supplies easier, which aided in the formation of civilisations and colonies and the rest is history. Yes, wheel might well be the most important invention during the early days of the human civilisations, there is one invention that has been shaping this century at an unprecedented rate.
Internet has made things possible that people, who lived before its creation, would simply call too far-fetched. It is impossible to imagine what our world would have looked like if the invention of internet were removed from existence.
Internet has wiped mammoth companies while fostering the growth of various new age companies.
Internet has wiped mammoth companies while fostering the growth of various new age companies.
AirBnb and UBER are two such companies who were able to harness this technology to become the most valuable organisations in the hospitality and service cab sectors, respectively, in a very short span of time. The part that intrigues most about them is that they've achieved this feat, without even owning a single hotel or cab.
WorldWifi, drawing a parallel from the examples of these two companies, are trying to create a global decentralized free network, without building any hotspots themselves. Let's see how!
What are they trying to do?
Internet is now counted amongst one of the basic human needs, yet the penetration of internet is surprisingly low in large sections of the society. This is true especially for the developing countries, where the penetration is as low as 54%
The problem isn't just limited to the availability of internet. The cost of a standard internet connection varies dramatically across geographical locations. Where in some countries internet connection is practically free, there are countries where it costs over 1000$ a month.
In a world as divided as this, how is WorldWifi hoping to create a global free internet network?
Actually, they are taking help from another recent invention of mankind, which in the not-so-distant future has the potential to make as great an impact as the internet has made - Blockchain.
How does it work?
The WorldWiFi project is, as already mentioned, trying to build a global decentralized free WiFi network and they are planning to do this using private routers. They have a very simple way of making this possible.
First of all, through their platform, WorldWifi are giving the opportunity to every router owner to share their excess WiFi capacity and let users connect to the internet for free. Router owners then would be able to earn in cryptocurrencies as a compensation for this shared capacity. These cryptocurrencies are handed out by advertisers, who will be able to run cheap targeted ads through this network of hotspots. And in the end, it is a win-win situation for all the three participants.
Users of the network get access to free internet. Router owners can utilize their unused capacity to earn a little more income. Advertisers are able to run highly targeted advertisements to reach anyone who wants to access the free WiFi, at highly discounted rates when compared with the rest of the market. The WorldWifi platform is using tools of data analytics and big data to make these ads more effective by making sure they reach the right audience.
First of all, through their platform, WorldWifi are giving the opportunity to every router owner to share their excess WiFi capacity and let users connect to the internet for free. Router owners then would be able to earn in cryptocurrencies as a compensation for this shared capacity. These cryptocurrencies are handed out by advertisers, who will be able to run cheap targeted ads through this network of hotspots. And in the end, it is a win-win situation for all the three participants.
Users of the network get access to free internet. Router owners can utilize their unused capacity to earn a little more income. Advertisers are able to run highly targeted advertisements to reach anyone who wants to access the free WiFi, at highly discounted rates when compared with the rest of the market. The WorldWifi platform is using tools of data analytics and big data to make these ads more effective by making sure they reach the right audience.
The shared WiFi capacity will be isolated from the home network to protect the router owners from the possibility of data theft.
The token developed by WorldWiFi to incentivize the market is WeToken, and all the transactions on the platform will be made with this token only.
About the ICO
WeToken is a utility token and during the ICO 600 million, WeToken will be issued. The presale has already begun and is scheduled to run until 31st January.
1 WeToken can be bought for 0.1 USD during the ICO. There is also a bonus of 20% to investors to buy the token during the presale.
During the pre-sale and the ICO, 258 Million tokens will be made available to the public. 40% of the total tokens are reserved for future development while 7 and 5 percent of the total tokens are reserved for the founding team and the advisors respectively.
Most of the proceeds generated during the ICO will be used for R&D of the platform and on advertisements.
Opinion
In their whitepaper, WorldWifi mentions that currently the market average of 10 ad impressions in WiFi networks is valued at 0.3USD. Yet the ICO price for a token of equivalent value is set at 0.08 USD, which means that the token is undervalued and has good potential for growth. They also projected that in the first 3 years they would be able to connect a minimum of 20 million WiFi routers.
WorldWiFi already has launched a demo version of their platform, whereas two of their projects have been launched in 80 cities, with over 14000 open networks. This provides a credibility to the bold claims they've made.
WorldWiFi has a very effective plan to provide free internet access to everybody, which may make the project and in turn the token very valuable.
Website : https://en.worldwifi.io/
Whitepaper : https://en.worldwifi.io/files/whitepaper/en.pdf
Facebook : https://www.facebook.com/worldwifi.io/
Author by: Naomikatarina
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