World Mobile Token is the utility token at the centre of the World Mobile Chain technology. This technology was created in the partnership between WM and Input-Output Global to homogenise access to social, digital, and financial services. World Mobile Token works on a shared economy-based function that provides the basis for affordable network nodes, relying on Cardano blockchain infrastructure in telecom.
In today’s modern world, we take the internet for granted. As if it is our basic human right to have access to the internet. But not everyone out there is lucky. Nearly 4 billion or almost half of the population of this world is offline. In other words, they are unconnected. World Mobile Token uses blockchain to connect these unconnected by a shared economy-based function so that everyone can afford to be a part of it. Moreover, it’s a guaranteed return system, so investing in it or becoming a part of it can never be a wrong decision. World Mobile is the future of communication technology.
WHY HAVE TRADITIONAL TELECOMS FAILED TO CONNECT THE UNCONNECTED?
Telecoms came with big promises. In early 2001, which is 20 years ago, they brought in wireless internet technology to connect the whole world. This is 2021, and we don’t really see that promise being fulfilled. Hence, the unconnected are still unconnected because telecoms failed to connect them. They were unable to bridge the digital gap between almost half of the population of this world. Even the largest tech companies have failed to solve this problem. Alphabet Inc., the parent company of Google, has failed and shut down its Loon project. This shows how big the issue is for telecoms to connect the unconnected. It’s not like they didn’t try or work hard. They just fell short on the technology department.
This is not just an issue of unable to make a phone call or send an SMS. In this modern world where everything is being digitalized, half of the people of the earth are unable to get an education, healthcare, commerce, or any kind of digital service. This is a significant problem. The number of flaws of traditional telecom is substantial. As a result, they become inefficient in their operation. There is a lack of transparency in this system. Lack of privacy is also a problem. Immutability and security are just screaming to the existing user to leave traditional telecoms.
That’s when World Mobile Chain comes in; they use blockchain in telecom. This makes the information more transparent. Blockchain in telecom also allows managing networks and self-heal network systems. Using blockchain in telecom, they give utmost privacy to users. User data and metadata are protected through private and public key infrastructure. Immutability and rising of fraud causes a lot of damage to traditional telecom users. Using blockchain in telecom gives a solution to this immutability problem, reduces fraud, and potentially prevents it. They also provide faster settlement and security, which traditional telecom simply failed to provide.
WHAT ARE THE CHALLENGES IN THE TRADITIONAL TELECOM INDUSTRY?
Instead, the question should be “What are not the challenges in the traditional telecom industry?” because the number of challenges or issues is just overwhelming. Currently, there are almost 1,000 mobile operators in the world. They invested a pretty large amount of money in connecting the unconnected. But in 2021, we see still half of the population of this world is offline. So, wireless technology to connect the whole world simply failed. The telecom industry has some problems, as listed below:
NO AVAILABILITY IN RURAL AREAS
One of the main reasons is its availability. Because it is quite an expensive system, it can’t reach rural areas. This is the biggest challenge in the traditional telecom industry. Not to mention that telecommunication operations are expensive. It is a centralised and expensive function. Blockchain-based telecommunication operations include providing better availability and less disturbance in telecom services. It also manages network functions, network availability, solving any provisioning issues, and fault management.
IMMUTABILITY CHALLENGE
Immutability is another big challenge. Immutability is not able to change or adapt to the modern era. Because of this, more and more people are leaving traditional telecom and choosing to be a part of the World Mobile Chain. Unlike traditional telecom, the world mobile chain is a flexible, unique, and advanced technology.
TRANSPARENCY ISSUE
To be honest, there is not much transparency in traditional telecom. There are many flaws in this system that causes inefficiency in its operation. Inefficiency in operation creates vague areas and information that users don’t have any access to.
NO PRIVACY
Privacy is our first and foremost fundamental right when it comes to giving our information to digital communication. No one willingly gives away private information. But the telecommunication industry is known for its privacy invasion tendency. This happens because mobile operators are always looking for new ways to make more money out of the system. And many people have sued so many of these companies for giving away or using private information. But the reality is that it is almost impossible to win against those big companies in court. This is because they have the best lawyers and all the time in the world.
SECURITY ISSUES
Last but not least, we have slow settlement and security issues with the telecommunication industry. Settlement is always a time-consuming and complex process. There are so many loopholes in telecom protocol that it is well known for its vulnerabilities.
WHAT IS WORLD MOBILE TOKEN?
World Mobile Token (WMT) is a digital utility token built on Cardano’s blockchain. This token allows participants to provide various services on the network and guarantees a rewarding system for everyone involved. When token holders stake their tokens to run an Earth Node, they earn WMT for securing the network, while Air Node operators will earn WMT for offering local services on the network.
World Mobile uses blockchain and the sharing economy to deliver a wireless network built to scale. By using off-the-shelf equipment and unlicensed spectrum, local entrepreneurs can operate and maintain the network in rural areas. With the help of World Mobile, the unconnected can finally become connected and experience the digital world. Through Cardano’s Atala Prism, they will also gain a digital ID, opening access to digital banking, healthcare, and online education.
Cryptocurrency investment is getting more and more popular. It is the future of digital currency How does World Mobile incentivise a sharing economy and connect the unconnected? As more people are getting interested in cryptocurrency investment, investing in WMT is a great choice.
HOW DOES WORLD MOBILE INCENTIVISE A SHARING ECONOMY AND CONNECT THE UNCONNECTED?
World Mobile incentivises a sharing economy and connects the unconnected using the World Mobile Chain. World Mobile uses a shared economy business model that creates and delivers a mesh network infrastructure. This infrastructure would allow a better and reliable network to connect the unconnected. It would also help improve network design and operation efficiencies because they use blockchain in telecom. It allows the company to go the extra mile and reach remote villages that traditional telecoms have yet to connect.
World Mobile is not only a unique and superior technology in terms of services to traditional telecommunication operations. It’s also much more affordable communication technology. Even people in rural areas can participate and be connected to the rest of the online world. They can provide services to the network and get rewarded accordingly. That is why World Mobile promotes this shared economy model, so that all those unconnected people in rural areas can be connected to the network. Last but not least, because World Mobile services are purchased with WMT, more people can easily invest in cryptocurrency. Because cryptocurrency is predicted to be the future of currency methods, investing in it as early as possible is better.
HOW IS WORLD MOBILE MAKING IT POSSIBLE FOR ANYONE TO BECOME A NETWORK OPERATOR?
World Mobile promotes a shared economy model. This model produces reliable network infrastructure. In this shared economy model, anyone can become a participant. It doesn’t require one to be very wealthy to be a part of it, to connect with it. Anybody from a rural area can be connected with World Mobile. World Mobile sells affordable network nodes to local business owners. This way, they can connect themselves and other people in that area. So if entrepreneurs from a rural area becomes a network operator, the whole village can become connected.
All the network nodes work as a bridge for internet connectivity. Because these nodes are so affordable and easy to operate, anybody can buy them. This way of connectivity is affordable and sustainable, both in terms of energy consumption and economics. And that is why anybody can buy nodes, operate nodes themselves, and become a network operator.
To operate an Earth Node and secure the network you need to buy and stake WMT. To operate an Earth Node and secure the network you need to buy and stake WMT. In return, they may share the fees with other sharers who have staked World Mobile Tokens to their nodes. The total number of revenues will be equal to the total number of network fees on the World Mobile Network. This makes it the network run by the people for the people. This also enables one to get into cryptocurrency investment. It doesn’t matter from which point of view one sees it, this opportunity looks great!
HOW IS WORLD MOBILE TOKEN, BUILT ON CARDANO’S BLOCKCHAIN, REBOOTING TELECOMS?
Cardano is one of the biggest public blockchains out there. It aims to create a stable cryptocurrency investment system. And Cardano’s ouroboros protocol is the most environmentally sustainable blockchain protocol out there. World Mobile Chain uses Cardano’s ouroboros to provide a settlement layer. In addition, Cardano’s smart contract platform, Plutus, provides the functionality for operating the shared economy model. That’s how World Mobile Token, built on Cardano’s blockchain, is rebooting telecoms. Because old traditional telecoms have failed to connect the unconnected, this new communication technology reboots traditional telecoms and put the power with the people.
Blockchain in telecom is the future. Wireless internet networks have failed to protect our privacy and connect the unconnected. Cardano’s blockchain is one of the most popular and affordable blockchains out there. Its ouroboros protocol is the most environmentally sustainable, which makes it a more acceptable method among others. It’s a cryptocurrency-based system, so it’s also a great way to make some cryptocurrency investments.
It’s a shared economy-based model, so anyone interested in breaking into telecoms and tapping into a trillion-dollar industry can participate in the World Mobile Chain. The services offered on the network include WiFi, data, texts, calls and a SIM card.
On the other hand, traditional telecom is very limited. Only a few wealthy people can be network operators, and telecommunication operations are quite costly. On the opposite side, World Mobile decentralises the telecoms by sharing the responsibility and rewards with every participant. Thus, it reduces the cost greatly.
CONCLUSION
World Mobile Token may sound complex because it is built on blockchain. But it is not complex at all. On the contrary, it’s even better; this way, people can make cryptocurrency investments while becoming a participant and connected. Traditional telecom and telecommunication operations are simply not worth the time and money anymore. In this new era, we must accept new and better communication technology. Internet connectivity is a basic human right and everyone deserves the ability to connect online and gain access to digital banking, healthcare, education, and more. This way, the world’s true potential can become untapped and everyone everywhere will be connected.
Hopefully, you have enjoyed today’s article. Thanks for reading! Have a fantastic day! Live from the Platinum Crypto Trading Floor.
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