Recap of the Wicrypt AMA with Blockchain Space
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On Tuesday, November 16th, we had the pleasure to welcome to our Telegram chat:
Toni Dada, The COO at Wicrypt.
We asked her questions about the development of Wicrypt.
INTRODUCTION
Q~ Thanks for joining us today Toni. Could you introduce yourself and the team background to the Blockchain Space community firstly ?
A~ My name is Toni Dada. I am the COO and I have over 14 years experience in the Telecoms and Fintech space leading growth for the two biggest Telecoms companies in Nigeria MTN and Etisalat.
My team has a strong engineering and business background. Our founder and CEO is Aronu Ugochukwu who founded Xend Finance, the first DeFi project from Africa. Our CTO, Chuwkuemeka Nweke is a skilled blockchain engineer and leads our blockchain engineering team. We have our marketing and business teams in Nigeria, US, India and China.
To learn more about my team please visit:
Q~ Let’s learn some more about the project. What is Wicrypt all about in detail, and what are some of the real-world pain points that Wicrypt aims to solve ?
A~ Wicrypt is Decentralized mobile internet sharing and monetization network. Wicrypt has created a smart Wi-Fi network infrastructure that runs on a decentralized network of micro-nodes powered by the Wicrypt OS(operating system), giving anyone the power to act as a micro internet service provider.
The Wicrypt protocol allows anyone to share their WiFi with others & get paid for doing it!
Wicrypt Hotspot Creators mine $WNT when sharing their WiFi.
Wicrypt Launched in 2018.
Problems Wicrypt solves;
- High cost of mobile internet data
- Unavailability of mobile internet data in urban and remote regions
- Highly centralized telecommunication market
- Lack of Innovation and Underutilization of Mobile infrastructure.
Q~ Can you share with us detailed information on the $WTN tokenomics and it’s usecases ?
A~ Utilities of $WNT
- Staking: Wicrypt hosts will need to stake Wicrypt Network Tokens (WNT) to become active hosts that can mine WNT when they provide Wi-Fi connection to users. Staking WNT helps to prevent bad actors from joining the network.
- Voting rights or Governance : WNT holders will be able to perform governance actions to control different parameters that determine the operational structure of the network.
- Airdrop Reward: WNT is used to reward hosts that provide active hotspots with high uptime. Clients get incentivized with WNT when they connect to multiple hosts for a specified period of time and have consumed a certain amount of bandwidth. 20% of overall network tokens have been allocated for mining rewards for hosts while 5% have been allocated to reward clients. Rewards and incentives helps to create a large network effect which leads to fast adoption.
- Payment for service or Product/Payment for ads: Businesses are allowed to place ads on the Wicrypt Network. Payment for the ads will be done with WNT.
- Gas/Transaction Fees/Discount on Wicrypt fees: Payment for internet connection with WNT gives discounts on fees.
- Discount on Payment for Wicrypt Devices: Wicrypt devices can be purchased with WNT at a discounted rate.
Tokenomics is in deck:
Q~ What is the Wicrypt team’s $WTN token sale plan? Which VC’s have shown interest regarding fundraising ?
A~ Wicrypt IDO is going live on 30th of November on Cardano’s Occam Launchpad:
Wicrypt has investors such as AU21 Capital, Polygon(Matic) COO Sandeep, Inclusion Capital, Outlier Ventures, Chain Capital, Pluto Digital Assets, Onega Ventures, N7 Labs, PolkaFoundary and Cardano’s Occam. We have also partnered with Enugu State Government in Nigeria, Omnibranches, Africa50. We are incubated by Outlier Ventures.
Fundraising announcement:
Xiaolin : Cool! How can we get involved? Any more details regarding the IDO holding on the 30th on OccamRazer?
Toni : Please join our Telegram channel to get updates on how to get involved.
Telegram
Telegram Announcements
More details will be shared in our community.
Q~ Collaborations and partnerships are some of the most important cornerstones to help improve adoption. Could you please tell us about the current partners, plans for partnerships and what everybody stands to gain from these partnerships ?
A~ Wicrypt investors include AU21 Capital, Polygon(Matic) COO Sandeep, Inclusion Capital, Outlier Ventures, Chain Capital, Pluto Digital Assets, Onega Ventures, N7 Labs, PolkaFoundary and Cardano’s Occam. We have also partnered with Enugu State Government in Nigeria, Omnibranches, Africa50. We are incubated by Outlier Ventures.
Our partnerships have enabled us onboard over 15,000 users and generated revenue to grow us to profitability since launch in 2018.
Q~ Can you give us an update on what the team at Wicrypt has accomplished till date and your future plans for Wicrypt ?
A~ Major achievements and milestones;
- Wicrypt has built its own hardware or device.
- Wicrypt has built its own Operating System called Wicrypt OS.
- Wicrypt has acquired over 15,000 real users.
- Wicrypt has its mobile app on Android and iOS.
- Wicrypt is backed by the Nigerian Communication Commission (NCC).
This is our roadmap link:
QUESTIONS FROM TELEGRAM
Q~ Can you explain how the NFT Movement, Outliers operate ?
A~ Wicrypt devices are all represented by unique NFTs (Non-Fungible Tokens) on the blockchain. These NFTs are called Outliers.
Data points(such as internet speed, GPS location, ISP, Connected clients) transmitted through the devices are represented on the blockchain through the NFTs in real-time on the Wicrypt block explorer. The NFTs will enable Wicrypt to create an open data network on the blockchain.
Our NFT drop campaign will commence on Coinmarketcap within a week and the sketches will be revealed.
Q~ Is Wicrypt an internet service provider or do you work with other internet service providers, how do I get started ?
A~ Wicrypt is not an internet service provider. Our devices work with any internet service provider.
To start you need to own a Wicrypt device. This devices give you the capability to create an internet hotspot for other people while you charge them for the service and earn. As you share your WiFi through these devices, you also mine $WNT, the Wicrypt Network tokens. Owners of these devices can also do the following;
🔶 Users earn money by sharing their internet data with these devices.
🔶 Freedom to decide your own rates for creating a hotspot network.
🔶 Put a limit on the data usage & time.
🔶 Get customer feedback & run ads of your business.
🔶 Clients also mine WNT for using the hotspot network. This means the users connecting also get incentivized for using your devices.
🔶 Hosts that create Wicrypt hotspots mine WNT (Wicrypt Network Tokens). WNT is the native token of the network.
🔶 Wicrypt is location and ISP agnostic. This means it can work anywhere with any Internet service provider.
Q~ Sharing or receiving connection from others can be a really vulnerable thing to do as it is really easy to get hack this way. So I was wondering how secure are we with Wicrypt? What kind of safety measures do you have to assure people that all of their data is still safe?
A~ Wicrypt has its own Operating System called the Wicrypt OS that ensures maximum security of our users. Here are the features of Wicrypt OS
- The Wicrypt OS can improve browsing speed and reduce bandwidth used in browsing especially in remote areas with poor internet service.
- The OS now supports real-time location for each device.
- The OS supports customized landing pages and syncs seamlessly with the web dashboard.
- The OS supports multiple clients and handles concurrency much better than the previous version.
- The OS allows mining of WNT (Wicrypt Network Tokens) to happen seamlessly on the device.
- The OS supports VPN capabilities to ensure privacy when surfing the web.
Q~ Is the Wicrypt internet services limited to certain countries or cities, or can I share their mobile internet data to other users from London and make money while at it ?
A~ Wicrypt is not an internet service provider hence it works with any internet service provider in the world. You can share your mobile internet data in London with any user in London and make money from it. It works anywhere.
Q~ The internet network in a region is controlled by telecommunication companies that operate there. In your quest to cover African cities, do you plan on partnering with all these companies and if so, wont this be a limitation to expansion?
A~ Very good question. So Wicrypt does not need to partner with a telecommunication company for Wicrypt to work in that region. Our devices can work with any existing telecommunications company without any special permission. So this means that Wicrypt can expand to any part of the world easily.
For example if you use MTN in Nigeria, you can easily plug your MTN sim into the Wicrypt device and it begins to share WiFi. Also if you have wired internet from any ISP, you can plug it to any Wicrypt device and it begins to transmit and share internet instantly and you can make money and mine $WNT while doing this.
CONCLUSION
Super excited to have had the opportunity to speak to your great community.
At Wicrypt we are decentralizing the internet and creating an open data network.
Please guys, join and follow our social channels below
https://twitter.com/wicrypt
https://www.facebook.com/wicrypt/
Telegram
https://t.me/wicrypt
Telegram Announcements
https://t.me/wicryptann
https://www.instagram.com/wicryptnetwork/
Substack
https://wicrypt.substack.com/p/coming-soon
https://www.linkedin.com/company/wicrypt/
Medium
https://medium.com/wicrypt
https://www.reddit.com/r/Wicrypt/
Discord
https://discord.gg/xShQkSZU7v
Thanks and God bless you all.
It’s really nice having the Wicrypt project in here!!!
You can check out their Website for more details. You can also follow them on Telegram and Twitter to keep up to date with all things relating to Wicrypt.
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