What is World Mobile? Connecting the unconnected through blockchain
With increased interconnectedness around the world today, access to reliable communication means and the internet has become crucial in education, health, business, and generally in living standards. Sadly, this disconnect is roughly half of the world's population. World Mobile aims to bridge this gap by introducing a disruptive model for an inclusive telecom network using blockchain technology in combination with renewable energy and shared economy. This article explains what World Mobile is, what its core technology consists of, what a World Mobile Token is, and its possible impact on worldwide connectivity. World Mobile employs Atala PRISM solution for decentralized identity as well and its partnership with Cardano has seen the native tokens WMT secured on Cardano. Previously we had written about the Cardano blockchain’s entity Emurgo and their recent project Midnight.
Understanding World Mobile
World Mobile was introduced in 2018 with the dream of creating a connected "global village" to close the connectivity gap in underserved regions. Many countries of the world, especially those in Eastern Africa, have very low access rates as low as 26% as per Statista. This initiative is unique since it redesigns the traditional models of telecommunication by introducing:
Blockchain technology: It ensures secure and transparent operations and allows community involvement.
Renewable energy: Implementing solar and battery-powered units in operation to reduce costs and thus help in sustainability.
The sharing economy: This empowerment of local communities through motivating the ownership and operation of network infrastructure reduces the cost of services directly, improving community development. The new ownership model will create not only ownership but also extend financial inclusivity to billions of unbanked people that the present global financial order has left behind.
The structure of World Mobile
It forms the basis of security, transmission, and facilitation of data across the network in World Mobile through its three-tiered node structure, which includes:
Earth Nodes: These act as the central node, which performs all activities related to authentication, identity management, transaction processing, and communication-related services.
Air Nodes: These are community-driven nodes deployed for the end user's internet access and coverage.
Aether Nodes: These nodes connect the World Mobile network with other legacy telecom operators, thus giving compatibility to traditional systems.
The whole decentralized architecture gathers key metrics for the assurance of quality of service, allows node operators to compete based on pricing, and establishes a feedback loop for mutual growth. At its heart, there is collaboration between World Mobile and Input-Output Global (IOG), in deploying the Atala PRISM-a self-sovereign identity platform developed on the Cardano blockchain-to create secure digital identities that would be used by all users, thereby facilitating access to basic amenities.
The role of World Mobile Token (WMT)
What is the World Mobile Token?
World Mobile Token is a utility token that powers the entire World Mobile network in important roles, such as:
Incentivizing participation: WMT incentivizes node operators who process transactions and provide quality services to ensure high engagement across the network.
Facilitating payments: The owner of a WMT can pay for telecommunication services and value-added services. Holding WMT may also result in a discount in service charges.
Investment and staking: Users can stake WMT to earn rewards, promoting long-term involvement in the network’s growth.
Tokenomics and buyback program
WMT is designed with a deflationary model, capped at 2 billion units, supported by a buyback system to keep the demand for the token ongoing. The very implication of buying back adds to the value of the token since it incentivizes node operators and supports network expansion. Check out their tokenomics paper for more information.
Global connectivity and financial inclusion are enhanced
Besides creating last-mile digital connectivity around the world, World Mobile is bringing financial inclusion to the unbanked-most of whom do not have valid identity documents. Indeed, through this initiative with IOG and the implementation of Atala PRISM, it will give way to digital identity, thus opening up a range of other basic amenities in healthcare, banking, and education.
World Mobile's Hybrid Network model runs on different spectrums such as FSO, CBRS, and Wi-Fi. They will grant access to the internet at a reasonably affordable price with high speed, especially in areas considered rural and not well-serviced by incumbent MNOs.
Community-centric approach
The World Mobile sharing economy allows the individual and community node operators to share in the economic success of the network. In this model, anyone can be an active Earth Node operator once connected to the internet and with the right amount staked in WMT, while the Air Nodes connect back locally to provide internet access to the end user.
Each of these nodes has a clearly defined role in improving connectivity, ensuring operational transparency, and keeping up mutual interest in the success of the network. Besides, it makes use of a node quality grading system within the network whereby performance metrics are kept-a motive for quality service and competitive pricing.
Future perspectives and global impact
World Mobile is committed to empowering underserved communities through such partnerships, like the recent one inked with Vodacom Mozambique, that raise the connectivity level of rural areas. Closing in on regulatory approvals that will allow WMT to be accepted as an option for paying for recharges of services, it is readying plans to launch services in several countries and make high jumps against digital divides. More than just a form of connectivity, World Mobile starts introducing a new model for the fairest global economy skeleton whereby unbanked people are no longer left out and communities grow together, sharing in each other's resources.
Conclusion
Implementing advanced technology in addition to a community-centric model, World Mobile goes a step further to offer a sustainable and inclusive solution to the global challenge of connectivity. The way it has applied blockchain and renewable energy reflects a visionary pathway toward enabling quality life for millions globally. As this project continues to scale up, it promises a more connected future for one and all. This would detail the technical detailing, community involvement, and larger involvement done by World Mobile in an attempt to tend to readers interested in blockchain technology, social equity, and telecommunications.
Check out the interview with Head of US Operations at World Mobile on Hackernoon https://hackernoon.com/decentralized-wireless-dewi-closing-the-rural-urban-internet-gap-in-america
