we hosted an amazing AMA with world mobile on the 8th of August
And here we will put some of the best questions:
Q1. Can you please introduce yourself as well as World Mobile ?
My name is Zac, I have been in the crypto space since 2010 and am a blockchain enthusiast and am currently the Head of Token for WMT.
World Mobile is a global mobile network operator that uses blockchain as part of the technology stack.
There is a huge problem in the world that is almost impossible to ignore it -that half the world don’t have connectivity.
It turns out there’s a reason. The mobile network industry won’t invest in hard-to-reach places because it’s not profitable enough, leaving half the world disconnected from digital society and the inclusion opportunities it provides.
World Mobile was started to fix this problem and go the extra mile.
Unlike traditional mobile networks, we’re based on the sharing economy. By using off-the-shelf equipment to make network nodes affordable, local business owners can buy network nodes and bring connectivity to their part of the world—sharing the rewards.
Q2. What are the advantages of Your project ?
This is a good question
We allow for a distributed telecommunications network where anyone anywhere in the world can own and operate parts of the infrastructure and be rewarded for doing so.
Half the world is unconnected, World Mobile is providing a solution to fix this and help bridge the digital divide whilst providing opportunity for hundreds of millions of people.
Beyond this through the sharing economy model we have created a way for the users of the network to also be owners of the network and reward these stakeholders with the native token. World Mobile Token- WMT
The token powers the sharing economy, all transactions generated on the network will be paid out in WMT to node operators and stakers. Transactions on the network are generated via calls,texts,streaming,internet browsing or using any other value added services such as healthcare, insurance, micro-loans offered and more through World Mobile service.
World Mobile is providing a solution to the global problem that nearly half of the world is
still not connected, as highlighted by the United Nations. This solution aims to address the affordability issue, as well as the more efficient use of network resources, to enable connectivity to be provided in a more distributed and decentralised manner.
Every user on the network also gets a digital identity which allows them access to financial services, healthcare, insurance and many of the other benefits identity brings.
We are using a combination of equipment that differs depending on the need. In some cases for IoT we use HAPS/Helikites/Balloons. To deliver super fast connectivity we are using free space optics or running fibre and the pushing coverage via a mesh. Our network delivers cellular and wifi connectivity or just wifi connectivity. We have a deployment team on the ground that makes installations throughout the east Africa region. What we are doing is creating the network and the software to run it.
Q3. please tell us about the goal you want to achieve in this year.
Yes I can!
We will be deploying the first Aerostat in Zanzibar which will have the capacity to connect over 100,000 users onto the network, we are also obtaining licensing and regulatory approval to roll out in other countries, this year we will be achieving a mobile network built on blockchain rolled out in multiple countries in parallel and showing the world that connectivity matters and we have found a way to provide that connectivity as well as digital identity, blockchain and a sharing economy all in one solution!
Q4. Every project has a story behind their name, Can you tell us more about the story behind this? Who are the team behind this project? can tell us their background?
It is described in the name World Mobile. We are building a global mobile network that is going to provide connectivity to the world, built for the people and in part by the people. We believe its every human being’s fundamental right to have access to connectivity.
Our team has over 100 years combined experience in the telecommunications industry. We have a team that combines experience and knowledge of technology, finance, regulations and blockchain. We have a former head of the IFC (World Bank investment arm for telecoms), a former head of regulation in Kenya, a former MD from JP Morgan telco division to name a few.
We have experience on the ground delivering solar and battery solutions to mobile operators across East Africa as well as delivering wireless mesh networks across Tanzania to schools, universities and public spaces. We also partner with IOHK/IOG, the developers of Cardano for blockchain engineering knowledge for developing the World Mobile Chain.
Q5. NFT is one of the hottest and most sought-after topics in the blockchain space right now. Can you share your opinion on NFT with us? Do you think NFT will disrupt the current financial system? What is Your project’s approach to the NFT sector?
ooo I really like this question!
I am actually a big fan of NFT’s, I have a modest collection, some that I really like the art work of, and some that I like the project and utility behind them. I think that some of the benefits that holders of NFT’s have is really cool and shows the community driven aspect of blockchain such as BAYC or NeoTokyo Citizens.
When you ask about if I think it will disrupt and current financial systems, I think there are definitely silos that a rife for disruption, I think there are some revolutionary use cases for NFT’s for things such as concert tickets, art ownership, legal contracts ,music, games, Ownership of assets in general, registration papers etc the list goes on.
Do I think that NFT’s will replace traditional banking system, probably not but do I think traditional banking and monetary systems will integrate digital assets in the future and blockchain.
We are using NFT’s to represent ownership of Earth nodes. The Earth nodes are the part of the Network that process the blockchain transactions, so for them to be selected in the consensus and node selection process, the operator will need to have locked 100,000 WMT into a smart contract and obtain an NFT which will be staked to the node. We are also treating them as a genesis NFT so that our EarthNode NFT holders obtain further benefits through some of our partnerships and collaborations.
And here we will put best questions from our members and world mobile fans:
Q1. Since you are implementing real development actions in tangible ways, such as “Connecting a village in Tanzania”, I would like to know if you are open to finalizing partnerships with government entities or how you finance the costs of such work as in the example mentioned above?
Yes we certainly are open to working with governments, we are partnered with the government in Zanzibar working on their blue economy , we are working with them to help prevent illegal fishing which is a huge problem. The proof of concepts in the early stage were self funded by the founding team and $40m USD was raised during the public sale of WMT which has been used to further fund the roll out of the network. The future of the network is rolled out by users on the ground who want to own an AirNode and provide connectivity and earn from doing so. We are also in talks with some other governments globally to help them tackle providing connectivity to rural areas or areas that have no connectivity in urbanised areas.
The network is currently live in Zanzibar and users are there was a football match streamed live over out network, we have thousands of unique customers connecting to the network daily.
Q2. Privacy and transparency are very sensitive topics and are widely discussed among users in today’s world of Cryptocurency Projects. so I would like to know, how do you deal with this particular problem, how important are they in the your?
Privacy is of the utmost importance to us and has been incorporated in the way we have designed the network, we are not interested in being like other mobile network operators and harvesting our users data, everything on the network is encrypted and secure. We believe that the users data is theirs to own and control. Not ours!
Q3. Can you tell us about the main #WorldMobile targets you are currently focusing on and the market you are trying to reach? Are you going to make the #WorldMobile project that grows on a global scale or will you be active only in certain regions for now?
We are currently focused on fine tuning the network in Zanzibar and deploying our aerial assets to provide connectivity to 100s of thousands of people. At the same time rolling out in other East African countries as well as UK, USA, and the Philippines to name a few. We also have a county deployment team look at other regions of the world and doing feasibility studies and site assessments!
Q4. Can you tell us some of the use-cases of the WorldMobile tokens in your platform? What are the uses of this tokens in your platform and in the market? What are the benefits when buying and holding WorldMobile tokens for a long period of time?
World Mobile Token is the utility token that powers the sharing economy for World Mobile’s global mobile network. All transactions generated on the network will be paid out in WMT to node operators and stakers. Transactions on the network are generated via calls, texts, streaming, internet browsing or using any other value added services such as content, finance, healthcare, insurance, micro-loans offered and more through World Mobile service.
So every time someone uses their device to connect to the World Mobile network, the token utility comes into play.
Staking the token long term helps secure the network and you get to participate in the sharing economy.
Q5. Do the token holders have the right to participate in the governance of the project? What kind of decisions can they vote on about the project?
At the moment the only governance that the community have are the EarthNode operators who have the chance to vote on changes for the minimum amount of tokens to operate an EarthNode as per the white paper, we are however working on some ideas on further governance we can introduce to the community.
Q6. Staking is very important for every project? Can I bet your tokens? Do you have any plan to start a staking program?
Yes you can stake our token via our staking mechanism. You will need to create a vault on www.worldmobiletoken.com/vault 🙂
Q7. How do you envision World Mobile Token in 2025?
I envision in 2025 that World Mobile Token will be rewarding our 1000 Earth Node operators and millions of stakers with the sharing economy in full swing!
Q8. Do you have any Coin Burn / BuyBack systems or any Token Burn plans to increase the value of Token & attract Investors to invest??Do the token holders have the right to participate in the governance of the project? What kind of decisions can they vote on about the project?
We do not have a burn mechanism, however revenue that is generated from customers connecting to the network will be used to buy the token back off the open market and distribute as rewards to our node operators and stakers. The more users on the network the more tokens we need to buy off the market to distribute.
Q9. What chain is the WorldMobile built on and how secure is its smart contract? How does it manage to maintain the economy of the $WMT tokens in such an unstable market, they won’t be the same as TERRA/LUNA right?
World Mobile Token is built on Cardano, WMT is a native token on the Cardano network so it does not require any smart contracts to mint the token, making it very secure. We are entirely different to Terra/Luna. There is no comparison! 🙂
Q10. What is PROJECT’s revenue model? In which ways do you generate revenue/profit?
We generate revenue from users paying for our service and connecting to the network. We use a prepaid model so users will pay for their connectivity to the network.
And this was the end of our AMA with world mobile.
You can find us here:
Telegram community :https://t.me/WorldMobileTeam