[INITIATIVE 2] – EPOCH 294 PROJECT SHOWCASE – WORLD MOBILE

Overview

World Mobile was founded with a far-reaching goal: to connect everyone, everywhere while advocating for economic freedom and dignity.

Today, in part due to low financial incentives, half the world’s population remains unconnected globally. Without this digital connection, many talents, innovation, motivated individuals are unable to express their best self. This represents a loss on potential change for good within humanity. 

Connecting the unconnected thus becomes a natural addition to Cardano’s vision of banking the unbanked. Unlike traditional mobile networks, World Mobile is based on the Cardano blockchain and the sharing economy. At a current low price of $5,000 usd, local business owners in unconnected regions can operate affordable nodes on our network and bring their community online while sharing the rewards towards operating costs. This creates a self-sufficient, self reliant community that empowers the individuals residing within. 

As a pilot case in example, World Mobile has deployed its infrastructure to a remote village in Zanzibar. The project was met with a resounding success and the whole village community has been upgraded since. 

Take a listen to their CEO Mike in the video below.

World Mobile Token

Back in July, The world mobile token (WMT), a utility token launched on the Cardano blockchain was launched, and it sought to raise $40 million in the first five weeks, adding to $5 million that was raised in a private sale. 

There is a max supply of 2billion WMT, with 10% (200million) released into the circulating supply and the balance released over the next 20 years. 

Through the company’s blockchain-powered wireless mesh network (Termed Earth Node operators) – a set of decentralised devices or nodes that work together to share data and information, node operators and other WMT owners  are incentivised daily (instead of every 5 day Epoch in Cardano) through a sharing economy to improve services and grow the network.

By combining existing technologies to provide both broadband connectivity and cellular coverage, bridging to legacy networks, everyone can scale, share infrastructure, have security, transparency, and self-sovereignty. This could significantly reduce the costs and practical barriers for people to access financial services, connectivity, and education. This results in a circular economic incentives business model.

In addition, all node operators and stakeholders will receive WMT payment for inflation. Inflation is decelerating in the network early on, ensuring more rewarding rewards until year twenty when there is no inflation. As the network matures, node operators are rewarded based on their performance, ensuring a balance between risk and reward.

 

What's next? Huat's thoughts

Early staking will commence on 11 Oct 2021, 11am UTC. 

The ambitions and visions of World Mobile certainly aligns with our motivation on why we became a Cardano SPO in the first place – making the world a better, fairer place for all- . Instead of continuing our historical path of conflict-laden societies, we would fare better as a species on Mother Earth if we work together towards the common good. Nobody should be denied a fair opportunity to contribute their talents/ lost in the ambiguity of processes/ regulations set out and applied globally by the developed world. 

We firmly believe in the World Mobile Project. As such, they are well deserving to earn one of the spots on our showcase initiative. Do give World Mobile a visit if you are interested in their work. Connect with them via below:

World Mobile Website
World Mobile Token Website
Twitter
Youtube

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