A1:My name is Ogbo Chidozie. I am a software engineer with experience in leading technical teams, building usable products, analyzing and solving hard technological problems.
My team has strong engineering and business background. Our founder and CEO is Aronu Ugochukwu who founded Xend Finance, the first DeFi project from Africa. Our CTO, Chuwkuemeka Nweke is a skilled blockchain engineer and leads our blockchain engineering team. Our COO, Toni Dada has over 14 years experience in the Telecoms and Fintech space working for the two biggest Telecoms companies in Nigeria MTN and Etisalat. We have our marketing and business teams in Nigeria, US, India and China.
Q2、Caroline：Please introduce the Wicrypt project in detail?
A2:Wicrypt is a decentralized mobile internet sharing and monetization network. Wicrypt is a virtual Internet Service Provider that gives users the power to control their own mobile internet data. Wicrypt is ISP agnostic and location agnostic.The Wicrypt protocol is a protocol that enables end to end encryption of user data, bills the user for the amount of data consumed and credits the host. The wicrypt protocol also creates a decentralized storage network making use of routers as micronodes.
Wicrypt enables peer-to-peer mobile internet data sharing to provide last mile internet connectivity. The cost of mobile internet data is high in different regions of the world and access to fast and efficient internet connection is a major problem in different regions of the world. Wicrypt gives individuals and businesses the power to create and share their own mobile internet data the way they want to. Wicrypt decentralized control of mobile internet data hence making it more accessible and cheaper. Wicrypt has been able to drive down the cost of mobile internet connection in Nigeria by over 60% in Wicrypt-enabled hotspot zones.
A3:There are very few similar products in the market.
Competitors include Althea, Open Garden and Tizeti.
Our competitive advantages
Althea: Althea is very similar to Wicrypt but limits setup to communities. There has to be a partnership with a community and there is a lot of overhead cost in setting up large networks hence scaling becomes a little hard. Wicrypt gives individuals anywhere in the world the power to create their own locally run networks with less than $200 and they can setup this network in less than 10 minutes as opposed to large setup costs of over $50,000 and which will be done in months. Wicrypt has mobile apps on android and iOS for for both Wi-Fi hosts and clients who want to connect to Wi-Fi. The mobile makes it easy for anyone in the world to connect to any available Wi-Fi hotspot in their location easily.
Wicrypt also allows its hosts to mine wicrypt tokens when they share their internet with other users. This incentives hosts to have high uptime and provide good internet service to clients. Althea does not do this
Open Garden: Open garden built only a mobile app for peer to peer internet connection but could not scale because mobile has limitations for business use-cases such as having a maximum of about 10 connections, battery drains very quickly when sharing your internet on mobile. They had to shut down. Wicrypt built its first version on mobile and when we realized this limitation as we were scaling, we built our own firmware ( Wicrypt OS ) and our hardware to enable us scale without any problems.
Tizeti: Tizeti is a traditional internet service provider that provides users with monthly bundles and routers for them to access the internet. Wicrypt is clearly different because we are not an internet service provider. Tizeti and traditional Internet service providers can be viewed as secondary competitors. They can also partner with Wicrypt like other internet service providers have done. The ISPs (Internet service providers) will usually white-label the Wicrypt technology, integrate our APIs and use our technolgy to create a robus mobile internet network. Use cases can be seen with Enugu WiFi, Ptouche WiFi etc, Omnibranches.
Users can participate in the ecological construction by using our apps and hardware to create WiFi hotspots and allow users to connect. By creating millions of decentralized WiFi hotspots, we will realize that people will shift power from centralized Internet Service Providers to decentralized Internet service providers powered by the people. This will reduce the cost of mobile internet service, provide access to connectivity in remote areas of the world.
Users will also contribute by referring other users to use the platform through the mobile app.