Blockchain startup WiCrypt gets 2 million nairas ($5500) funding from Nigeria NCC
Recently, the Nigeria Communications Commission (NCC) released its final list of 25 technology innovators at the three-day Innovation Competition and Exhibition. The program focuses on supporting Telecommunications Innovation and Innovation in Nigeria.
NCC Committed to Promoting ICT Innovations – Danbatta
— ncc.gov.ng (@NgComCommission) December 20, 2019
The blockchain startup WiCrypt has surpassed 23 other innovators, reached the top 2, and received a fund of 2 million nairas (approximately $ 5500).
Wicrypt is an app that offers unlimited Wi-Fi at a price no one can provide, helping users enjoy universal internet connection at an affordable price.
Besides, it facilitates blockchain-based WiFi sharing service, which allows users to make money by sharing an internet connection. The payment will be calculated based on each megabyte of their WiFi data used by a beneficiary.
Users can connect to WiCrypt with the router and have some users connect and pay to use Wi-Fi. A user has the freedom to set a separate price for each megabyte of data consumed.
Registered users can deposit money into their wallets by bank account, card payment, or Mpesa. They can also deposit with Bitcoin, Ethereum, and Binance.
The WiFi access point service fee will be deducted from the deposit amount. While the WiFi service will be credited with income for each rate applied.
Wicrypt has an inbuilt wallet to verify that the beneficiary has enough money to start using the service. Wicrypt automatically disconnects with a beneficiary when his cash runs out. It allows an automatic connection between the user and the recipient once the beneficiary has enough money to start using the service.
According to the founder Ugochukwu Aronu, WiCrypt will help all Nigerian citizens make money online easily by using and sharing their mobile data.
Ugochukwu Aronu, founder WiCrypt
Nigeria is seeking to help accelerate local blockchain startup with funding, creating a favorable startup environment. Seed funding will also help other fintech startups grow and create more practical solutions.
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