- Nigeria’s official telecom regulator has invested in Wicrypt, a blockchain-based WiFi sharing service where users can earn crypto for sharing their internet
The Nigerian Communications Commission, which is the official telecom regulator of Nigeria, has invested NGN 2 million into blockchain startup WiCrypt, equivalent to USD 5,500.
Wicrypt is a blockchain-based WiFi sharing service. Users can earn fiat or crypto, including Bitcoin, Ethereum, and Binance Coin, simply by sharing their internet connection with other users. It automatically detects if a user has enough funds to start the service, and cuts off a user once they have exhausted their funds, ensuring that users who are sharing their internet get paid for each minute.
This service has the potential to turn internet sharing into a profitable business, and also increases internet coverage in Nigeria. If Wicrypt is successful in Nigeria, perhaps it will start a trend worldwide of blockchain-based internet sharing, making the internet accessible to everyone in the world on an on-demand basis.
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