World Mobile launched a public token sale

Almost two months ago, Input-Output Global (IOG) and World Mobile announced their partnership at the Cardano Africa Special. Their goal is to “connect the unconnected” and provide them with an Internet connection. Cooperation will focus on Zanzibar and Tanzania.

From now on, World Mobile will take a new step in Cardano by launching a public token sale for World Mobile Token. They aim to raise about $ 40 million a month. The company has already received $ 5 million in a closed round.

A partnership with IOG, powered by IOG’s Atala PRISM, aims to build a platform based on the Cardano blockchain infrastructure. Ultimately, their goal is to connect half of Africa’s population to vital services such as education, banking, finance, healthcare, etc.

Although the partners recently announced their partnership, World Mobile and IOG have been working together for several years now. The company aims to create a “WMT Sharing Economy” and give everyone in Africa access to the global financial system.

Why World Mobile chose Cardano

According to Sean Inggs, director of World Mobile Token, the launch of World Mobile Token will be leverage to “advance our vision.” He added:

WMT will fuel our ecosystem to provide thousands of people with access to basic necessities, including identification, access to education, banking and other basic services.

Mickey Watkins, CEO of World Mobile, said the following about the reasons the company chose to rely on Cardano:

We chose Cardano for its Ouroboros consensus mechanism, Plutus platform smart contracts and Atala Prism digital identifiers (DIDs), which are required to unlock access to banking and other financial or insurance services such as microloans.

In addition, the CEO stated that this platform allows them to provide people with a solution with the potential to scale globally while maintaining the security of the blockchain. According to Watkins, Cardano adheres to their values ​​and principles of social, economic and environmental sustainability. He added:

Our mission is to create a sustainable and affordable global mobile communications network that promotes data protection, economic freedom and digital inclusion. Since we’re starting in Africa, where connectivity is most in demand, Cardano’s African focus matches ours.

At time of writing, the ADA is trading at $ 1.46 with sideways movement on the hourly chart. The cryptocurrency market reacted negatively to Jay Powell’s statements at yesterday’s FOMC meeting. As investors expect less inflation, the US dollar has strengthened and commodities, BTC, ADA and the crypto market are losing ground.

ADA has a downward trend on the daily chart. Source: ADAUSDT Tradingview

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