$60M funds 1,000 EarthNodes to connect Africa

World Mobile Group, a global mobile network, has announced the complete reservation of its 1,000 EarthNodes blockchain network to connect the Tanzanian islands of Zanzibar and Pemba, and then all of Africa, backing the project with an allocation of $61.5M worth of WMT tokens.

1,000 EarthNodes to connect Africa

Each one of the EarthNodes contributes to the combined computational and tech processing power required, collectively enabling the successful facilitation of all transactions on the blockchain. The reservation of all 1,000 WM EarthNodes represents and enables World Mobile to fuel both internet access and connectivity through its network to even the most remote and unconnected locations.

This in turn affects not only the region’s connectivity but their access to education and economic development, as well as their participation on the world stage – furthering its partnerships with Cardano, Epson and the Zanzibarian government.

The growing sharing economy, a system in which assets are shared between private individuals, is expected to reach a valuation of $335 billion by 2025, according to Forbes. The sharing economy allows transactions to be made without a middle man, usually resulting in reduced costs. Successful companies, like Airbnb and Zipcar, use the sharing economy model, reducing costs of boarding and transport and monetizing rooms and cars that were otherwise unused by their owner.

Word mobile it’s taking the sharing economy to a new level, leveraging its blockchain-powered P2P network to connect huge swathes of the world that aren’t connected to the internet, starting with Africa. Anyone can be part of the World Mobile network and reap the benefits. The shared economy model reduces current operational and maintenance costs that traditional telecoms face and distributes the responsibility for bridging the digital divide more widely, powered by World Mobile Token and World Mobile Earthnodes.

“The final node being reserved showcases World Mobile’s success in building a committed and dedicated community around its mission,” says Micky Watkins, CEO of World Mobile Group. “We are humbled by the support from all of our WMT community members, who share our vision. With their backing and continued support, we will accelerate our mission to connect the unconnected everywhere.”

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