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How Wayru Brings People Together With Blockchain

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How Wayru Brings People Together With Blockchain

In 2011, the UN published a report declaring the internet a human right, but more than a decade later, millions of people in developing countries still lack the means for a simple WiFi connection, many of whom reside in Latin America.

This is due to the control of the industry by a few large Internet Service Providers (IPS), who would rather sell to their established customer base than expand into untapped regions where millions of people urgently need connectivity.

A matter of human rights

These companies do not prioritize sufficient connection quality and network coverage for developing countries, with an approach that has led to 37% of the world’s population currently living without the Internet. This gap in the market caught the attention of a new web3 telecommunications innovator named Wayruwhich is spearheading technological advances that could provide a decentralized solution to a centralized problem.

What was born as an idea to help connect people in less developed countries might end up being one of the savviest business ideas of 2022. The market size of the global Internet Service Provider industry has recently surpassed the staggering figure of USD 1 trillion, with demand only going to increase.

The Wayru Mission: Decentralize the Internet

Wayru is a startup that believes people’s internet infrastructure should be in their hands. The Florida-based company is a strong advocate of the Internet as a human right and is working to make it a reality with a pioneering new decentralized network of Genesis hardware access points and devices that not only will provide Internet to millions of people in underdeveloped regions, but also reward those who have chosen to support the network.

Wayru’s mission is to decentralize Internet access for a global market, and it aims to achieve this by expanding its decentralized network of access points and driving adoption of its Genesis hardware devices globally. Wayru’s goal is to reach 1,000 fixed broadband customers and 10,000 WiFi users by the end of 2022, but has much more ambitious long-term goals.

Charvel Chedraui, Founder and CEO of Wayru said that:

“Only a few large telecommunications operators manage most of the sector in the world. It’s time to give the power of connectivity and access to information back to the people. We believe ownership of Internet infrastructure should be in the hands of as many people as possible. »

Having already received support from industry leaders Borderless and Algorand, Wayru has now developed a unique sharing economy model that has the potential to disrupt the telecommunications industry in underdeveloped countries and beyond. However, creating a viable Internet infrastructure is only half the battle. For Wayru to complement or even surpass its centralized counterparts, it must offer advancements from both a technological and economic standpoint.

For this reason, the Wayru network was designed to reduce both the time and cost of its broadband deployments while increasing the internet speeds of its WiFi On-the-Go service to meet the needs of homes and businesses. The lower-cost model looks even more appealing because it avoids the trap of costly, time-consuming contracts and installation costs that are familiar to most global broadband users. And icing on the cake, the first month will be free for first users.

LatAm becomes one of the first benefactors

Wayru has carefully selected Latin America to launch its network. Less than half of households there have internet access due to expensive services, poor coverage and unattractive long-term contracts. Only 56.1% of urban areas have internet access, and it’s much worse in rural areas, with only 21.6% of people connected.

The first two cities to take advantage of the Hotspot network are Quito and Guayaquil, the two largest and most populated in Ecuador. In these two cities, the effects of Wayru Hotspots have the highest potential to have a significantly positive effect on people’s quality of life. This launch is just the first step in the Wayru mission, as the company plans aggressive expansion following the first wave of adoption.

Charvel Chedraui, Founder and CEO of Wayru said that:

“We are going to deploy the first Internet nodes in Latin America. We want to set a standard for how this niche technology works and how others can join our network later. »

Blockchain leading the revolution

Beneath the surface of the revolution is the cornerstone of the project, the Wayru Hotspots. Wayru will deploy at least 1,000 access points that use state-of-the-art fiber-grade mesh technologies to build a hybrid network in the cities of Quito and Guayaquil.

Wayru leveraged Algorands blockchain technology to segment Hotspots into groups of 1,000 or more, called Access point pools. Anyone who wants to support the network can support hotspot pools by purchasing “pool tokens”.

Once pool tokens are purchased, that person is automatically staked and will start receiving WRU as soon as that pool becomes active. The number of tokens in the pool depends on its location and the number of access points. Greater network growth of a zone will result in more pools of tokens available for purchase.

Genesis hardware devices are the second act of the Wayru revolution and hold huge potential for mass adoption. Each device is a universal WiFi hub that can be purchased directly from Wayru and used by individuals, businesses, and communities to share an Internet connection and become part of a larger network.

Recover what you have invested

Wayru believes that what you give comes back to you. This is why the income of the participants comes from what has been generated by its users. Anyone who sets up a node shares an existing connection or secures network staking will be rewarded with $WRU for participation and will help solidify internet access as a human right.

Wayru’s unique user-driven decentralized model approach will not only facilitate an acceleration in the pace of adoption of cryptocurrency and blockchain in commerce, but pave the way for many more innovations in the future. future, triggering industry-wide adoption of new technologies.

To learn more about how Wayru is leading the mission to create a more connected world, visit their main site here.

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