World WiFi | Bringing Existing WiFi on Blockchain with Passive Income | ICO Review
We are technology hungry people and when it comes to blockchain, we mostly like to see companies working towards bringing solutions in real-life use cases, World WiFi seems one of them. It's true that most of the ICOs have been a failure in the past but that doesn't mean that we should ignore good projects. In my opinion, It's important to do some research about the project and analyze the team behind before you invest.
Who is World WiFi?
World WiFi is a blockchain solution, bringing Free WiFi to the world by using your wifi network. This blockchain solution has been developed by two different companies already working in Europe market by the name of "RADIUS WiFi" & "ADRENTA".
RADIOUS WiFi is the company, who is providing WiFi HotSpot to its customers. ADRENTA is an advertising agency for wifi hotspot networks. We have two different companies already working and having experience in similar tech which is already a point worth considering. As it's not something designed by a startup but they are bringing their business services and experience to this blockchain solution. They already have a number of customers to bring on this solution.
According to their website, they have already covered 80 cities in Europe with 100 advertising partners 14,000 open WiFi HotSpot networks:
World WiFi Solution
According to their whitepaper, It is designed to work on existing wifi routers. Where you can provide free access to the internet and get to earn WT tokens from the advertising.
Internet users on your network don't require to pay anything but rather can enjoy free internet by watching an advertising video before getting access to free internet. WiFi HotSpot providers & router owners are designed to pay via blockchain using smart contract based on Ethereum Network.
This is not just a solution for WiFi router owners or guests connected for free internet access but this seems to be a great solution for advertisers by reaching their target audience.
For in-depth information on their use case, I highly suggest watching their video below:
ICO Available in United States
This is also very interesting fact that they are also open for United States investors for their ICO. As it's mentioned that attornies they've hired for their company have adviced that there's no reason, why the US security or regulations community should deny access to this ICO. Since, it's not a security & stated how it's used as a utility. Therefore US is allowed to participate in this ICO.
WT Token Specifications & ICO Details
Name: WeToken
Trigger: WT
Token Support: ERC223 Token
Total Supply: 600 million
Token Distribution: 258 million (token sale)
Founders Reward: 7% (frozen for 1 year)
Tokens Reserved: 40% (frozen for 1-5 years for future development)
Token Price: 1 WT = $0.126 (in Token Sale)
Official Website: https://en.worldwifi.io
For all the participants of the TOKEN SALE the BTC/WeToken and ETH/WeToken rate will be fixed as follows:
- if the value of the BTC rate is above $9000 and the ETH rate is above $700, the rate will be fixed by the actual value at the Bitfinex exchange on May 19.
- if the BTC or ETH exchange rate is below the above-mentioned values, the BTC/WeToken and ETH/WeToken rates will be fixed based on rate as of 1 BTC = $9000 and 1 ETH = $700, respectively.
Currently, their soft cap token sale has been ended and they have entered in hard cap token sale. They have introduced 258,000,000 WT Tokens for sale in their ICO. They have also decided to burn unsold Tokens at the end of Token sale.
My Views
According to research, there are over 50 million publicly available WiFi networks and still growing rapidly. This is currently untapped market by any blockchain solution and it seems quite possible for them to bring most of existing WiFi hotspots on their blockchain solution despite their existing clients.
Disclaimer: Everything mentioned above is based on my own research and opinion, should not be considered as an investment advice. I encourage everyone to do their own research before investing in any cryptocurrency or ICO.
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Very interesting project. Hope it will work.
@cicbar they already have business in 80+ cities. They are just upgrading their business to blockchain now. I think this would help them a lot.
Thanks for info!
it's great! thanks for sharing
well that looks like a good idea
@bitcointravel I Agree :)
Thank you for a great review of the World Wi-Fi project! You can also learn more at @world.wi-fi
It's always a pleasure introducing projects that have the potential for real-life use cases.
I think the idea is a great one but I wonder if it has hickups in practical terms. Like for those living in big cities. I can't even access my wifi while sitting on my porch, how is someone going to access it if my wifi router is on the 13th floor of a building?
@dugan I think they will only be providing with the software to install on your existing router and there are routers and antennas available for higher coverage.
Moreover there are businesses like cafes & restaurants running their private WiFi hotspot networks.
So cafes and restaurants might be more interested in signing up for this thing because they could earn money off of others. That makes sense.
do you think this will work? i have my doubts, not that it isnt a good idea, but there are way too many hurdles in each market. maybe i'll do a bit more investigating.. thanks for the post
@vandigital Sure mate, I am also open for discussion. I love exchanging thoughts.
I've been paying attention to some related projects with mobile data (dent) and there was another wifi project that i can't seem to recall atm.. what do you think some of the hurdles might be in getting something like this off the ground to make a real impact?
ok, this is a platform that providing wifi worldwide, we just have to pay the wifi via cryptocurrency instead of fiat? the wifi technology is based on blockchain technology? this worldwide wifi is going/having ICO? what am i reading?
@arion6868 project name is worldwifi their technology is based on, you can provide free WiFi to people and earn in crypto. People don't pay anything to have WiFi access. Yes they have an ICO live
I really sympathize with the underlying use case and basically renting off unused infrastructure, so in that sense, it is very similar to car sharing.
However, sufficient market penetration of this model will probably de-incentivize current providers of free wifi to continue their services.
Thus we might actually end up with having less truely free wifi.
Additionally, I have my doubts regarding everyone's wifi security beeing up for the challenge.
@bogenschleif They have mentioned in their whitepaper that WiFi Hotspot you would be creating for guests to access would create a completely separate network, to make it secure.
Thanks for sharing your opinion. :)
Very informative article. The way you have elaborated all the features of this project is awesome. You have always provided the best of reviews till now and I have realised that you understand crypto, way better than the majority of us. Keep up the good work @bunnychum
Thank you @honeychum, you've always been a great motivation for me.
very interesting. Great information you shared here. Thank you, @bunnychum :)
thank you for appreciation @nehab
Your posts always give me new information. You are doing a great job for our community by making us aware of the new tech. Keep going, my friend.
Thank you @shagungupta, I really appreciate your comment.