INTRODUCTION
World Wi-Fi believes internet access is a basic human need. Who am I to argue? At this point, I can’t imagine a world without the internet! As such, their mission is to build a free global wi-fi network for those that don’t have the opportunity or means to access the internet.
At a high-level, their concept is easy to comprehend. World Wi-Fi will adopt blockchain technology and build a platform to align the interests of the three main participants (Guest Users, Router Owners, Advertisers) in the internet Wi-FI consumption cycle. Participants on the platform will transact with one another using World Wi-Fi’s cryptocurrency, WETOKEN (WT).
The participant problems and interests are defined in the table:
| Guest User | Lack of internet, unable to afford high costs. | Connects to an open wi-fi hotspot. Views a short advertisement and then will be able to browse the internet. |
| Router Owner | Unused bandwidth, high internet costs. | Provides access to the open wi-fi network and earns cryptocurrency. |
| Advertiser | High advertising costs due to non-transparency, intermediaries, and unsophisticated targeting options. | Utilizes network of private routers to deliver targeted advertisements and pays directly to the router owner. |
Advertisers will be able to target their ads from the collected system data. The system will analyze location, social media profiles, search history, and other parameters required for targeting.
There are a few factors that will affect rewards.
The router owner’s income will depend on how many users use their network along with how many ads are viewed.
The more financially secure the Guest Users are who are on the guest network, the more tokens are issued resulting in a higher value and higher cost ad for the advertisers.
World Wi-Fi estimates that 20 million Wi-Fi members will connect to their global system around three years.
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FINAL THOUGHTS
I can see why this project is getting such high website ICO review ratings. It is a great idea and surprisingly simple concept. Of course, the hard part is the technical piece, where the system development and implementation must be managed. However, after reading their whitepaper I can safely say that they have a well detailed plan. Overall the idea is a winner – on paper.
I bet a lot will depend on the World Wi-Fi team being able to identify high value target location areas that will likely want to use the service. For example, I’m not sure a city population - where internet penetration and free wi-fi hot spots is high - will be as good of an area for to target in comparison to low to middle internet penetration areas. I imagine World Wi-Fi’s network will be ideal for areas where internet penetration service is available but not used due to the demographics of the area (how will can you get to the remote parts of the world if there are no internet service providers in the first place).
World Wi-Fi will have to figure out how to market their product to those areas. I assume World Wi-Fi knows this is true because they have allocated almost 40% towards advertising and marketing campaigns and have dedicated several whitepaper pages towards global individual and household internet usage.
If World Wi-Fi can overcome the awareness challenge then I bet they have a winning idea on their hands. The question is whether they will be able to survive until they reach the point where they are a known brand. I’m certainly interested to track their progress and hold on to a few of their tokens for a long-term investment play.
Their whitepaper is 43 pages long but it’s very visual and a quick read. If you are interested this project I recommend reading their concept in more detail.
In sum, I think this is a great idea to accelerate internet penetration where everyone wins.
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Traversing the Cryptosphere,
Kryptonaut (@GeneralCryptoZod on Telegram)
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