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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

IOG’s Partner World Mobile Launched Public Token Sale On Cardano

Reynaldo Marquez
Reynaldo Marquez
4 years ago
2 mins read
Cardano ADA ADAUSDT

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Almost two months ago, Input-Output Global (IOG) and World Mobile revealed their partnership on Cardano Africa Special. Their objective is to “connect the unconnected” and provide them with an internet connection. The cooperation will focus on Zanzibar and greater Tanzania.

Now, World Mobile will take another step on Cardano by launching the public token sale for the World Mobile Token. They aim to raise around $40 million within the month. The company has already received $5 million in a private round.

Based on IOG’s Atala PRISM, the partnership with IOG aims to build a platform on top of Cardano’s blockchain infrastructure. Ultimately, their goal is to connect half of the population in Africa to vital services, such as education, banking, finances, healthcare, and much more.

Although the partners recently revealed their partnership, World Mobile and IOG have been working together for several years. The company seeks to create a “WMT sharing economy” and allow everyone in Africa to access the global financial system.

https://twitter.com/WorldMobileTeam/status/1405240291590868996

Why World Mobile Choose To Build On Top Of Cardano

The launch of the World Mobile Token will be leverage to “push our vision forward”, as Sean Inggs, Director of World Mobile Token, said. He added:

WMT will fuel our ecosystem to empower thousands to obtain access to basic necessities including identification, access to education, banking and other fundamental services.

Micky Watkins, CEO of World Mobile, said the following on why the company decided to build on Cardano:

We chose Cardano for their Ouroboros consensus mechanism, Plutus Platform smart contracts, and Atala Prism Digital IDs (DID), which are essential in unlocking access to banking and other financial or insurance services such as micro-loans.

In addition, the executive claimed that this platform allows them to provide people a solution with the potential for scale on a global level while maintaining the security of the blockchain. Cardano, Watkins said, aligns with their values and principles of social, economic, and environmental sustainability. He added:

Our mission is to create a sustainable and affordable global mobile network promoting data protection, economic freedom, and digital inclusion. Since we’re starting in Africa, where connectivity is in the highest demand, Cardano’s African focus aligns with ours.

At the time of writing, ADA trades at $1.46 with sideways movement in the 1-hour chart. The crypto market has negatively reacted to Jay Powell’s statements at the FOMC meeting yesterday. With investors expecting less inflation, the U.S. dollar has strengthened, and commodities, BTC, ADA, and the crypto market lose traction.

Cardano ADA ADAUSDT
ADA trends downwards in the daily chart. Source: ADAUSDT Tradingview
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Reynaldo Marquez
Reynaldo Marquez

Reynaldo Marquez

A literature major, Reynaldo Márquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide.
In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride.
He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times.
In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson’s ‘Neuromancer.’ The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau’s ‘Civil Disobedience.’
But that’s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term.
In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry.
Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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