How Ugochukwu Aronu is creating blockchain solutions in Africa

The possibilities of the blockchain technology seem endless seeing the new developments it has introduced around the world. It has fostered the innovation of unique solution which enables users to monetize their mobile networks by earning from people who connect to their Wi-Fi. This innovation was pioneered by a Nigerian based Wicrypt, a Nigerian blockchain-based […]

The possibilities of the blockchain technology seem endless seeing the new developments it has introduced around the world. It has fostered the innovation of unique solution which enables users to monetize their mobile networks by earning from people who connect to their Wi-Fi. This innovation was pioneered by a Nigerian based Wicrypt, a Nigerian blockchain-based startup founded by Nigerian entrepreneur, Ugochukwu Aronu who serves as its CEO.

Wicrypt first launched in 2018 with an exclusive collaboration with the city of Enugu, Nigeria, to give internet access to its residents. Wicrypt software users can create Wi-Fi hotspots using their mobile device or by purchasing a custom-built Wicrypt hotspot creation hardware. Wi-Fi providers can additionally tailor their user experience by delivering surveys, adverts, and gathering consumer data through their Wicrypt dashboard. Wicrypt-enabled devices make use of one-of-a-kind NFTs that are linked to the blockchain. It pays hosts for having a high device up-time through its $WNT program, in addition to getting paid by individuals who use WiFi.

Few weeks, Wicrypt raised $1.5 million in a funding round. Polygon creator Sandeep Nailwal, Cardano’s Occam, Inclusion Capital, Outlier Ventures, Chain Capital, Pluto Digital Assets, Onega Ventures, N7 Labs, and PolkaFoundary all contributed to the round, which was led by AU21 Capital. According to Disrupt Africa, the newly secured fund will help the decentralised mobile internet sharing and monetisation network expand into new countries.

Sandeep Nailwal, speaking about the acquisition, stated that Wicrypt is allowing individuals to access the internet in areas where Wi-Fi can be highly expensive and unachievable for many people, despite the fact that investing in an already-profitable company was unusual in the blockchain world. Nailwal said that allowing people to earn money by sharing their Wi-Fi is a win-win situation for everyone concerned, especially in distant areas where giant internet companies have no motivation to provide coverage.

“Wicrypt is providing last-mile internet to people of the world who need it, while leveraging the blockchain by having hosts stake $WNT to become a part of the Wicrypt Network. This ensures overall security of the network and that hosts do not perform malicious actions while providing internet connections to clients” said Wicrypt’s CEO, Ugochukwu Aronu. The platform has not just built significant commercial ties in Africa but the investment will enable for additional expansion into other nations by strengthening marketing efforts.