Nigeria Communication Commission, NCC, recently released its final list of 25 technological innovators at a three-day Innovation Competition and Exhibition. A blockchain startup WiCrypt came second with a 2 million naira funding.
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The program is focused on supporting Innovation and Creativity in the telecommunication sector in Nigeria. Among the selected projects that emerged the top three best is a blockchain startup, WiCrypt.
WiCrypt is a blockchain startup offering WiFi Hotspot Sharing services allowing suscribers to make money sharing their mobile data. The WiFi hotspot sharing service is powered by blockchain.
How It Works:
Users can register on the platform by downloading it’s mobile application. The registered subscriber can deposit funds into his wallet using bank accounts, card payments or Kenya Mpesa money.
Registered subscribers can also deposit using Bitcoin, ethereum and Binance token. The registered subscriber can now search for available WiFi Hotspot from the app and then connect.
The WiFi hotspot service charge will be deducted from his deposited funds. While the WiFi host will be credited his earnings per rate applied.
The host can withdraw earnings in the available cryptocurrencies like bitcoin, ethereum and binance. He can also withdraw WiCrypt earnings using Kenya Mpesa account or local bank account.
The founder of WiCrypt software is Ugochukwu Aronu from Enugu state in Nigeria. He said that WiCrypt will help Nigerians earn money online using and sharing their mobile data.
Previously, Diutocoinnews announced a seed funding from Lagos State Government. This is to support new technology innovations including blockchain startup and other fintech startups.
Moreover, the Zenithtech Fair 2019 also awareded funds to real innovators creating tech solutions for the fourth industrial revolution. The funding came through its 2019 Zenith Hackathon allowing blockchain startup and other tech startup to participate.
The country is looking to help accelerate real blockchain startup in the country with funds, creating a favourable environment for them. The seed funding will also help other fintech startup to grow and create more real life solutions.
Moreso, with WiCrypt WiFi hotspot service, new blockchain jobs will be created in Nigeria. It will also help in digitizing the economy, encouraging the growth of the fourth industrial technologies.