Decentralizing the Internet: How Wayru is Using Blockchain to Bring People Together

Despite the UN's declaration that access to the internet is a fundamental human right in its 2011 report, millions of individuals in developing nations, many of whom live in Latin America, still lack the resources for a basic WiFi connection. This is because a small number of dominant Internet service providers (IPSs) have complete control over the market and prefer to upsell to their current clientele rather than reach out to unexplored regions where millions of people are in desperate need of connectivity.

Concerning Human Rights

37% of the world's population currently lacks access to the internet because these corporations fail to give developing countries adequate connection quality & network coverage. A new web3 telecommunications pioneer named Wayru, who is leading technological improvements that can offer a decentralized solution to a centralized problem, has become interested in this market gap.

What began as a plan to connect individuals in less developed nations might turn into one of the smartest business concepts of 2022. The Global Internet Service Providers market has surpassed the staggering total of $1 trillion USD, and demand is only expected to rise.

Decentralization of the Internet is The Wayru Mission.

A business called Wayru contends that users should own their own internet infrastructure. With a ground-breaking new decentralized network of Hotspots and Genesis hardware devices, the Florida-based company is working to make the right to the internet as a human right a reality for millions of people living in underdeveloped areas. The network will also reward those who choose to support it.

In order to fulfill its purpose of decentralizing internet access for a worldwide market, Wayru plans to grow its decentralized network of Hotspots and promote the widespread use of its Genesis hardware products. By the end of 2022, Wayru hopes to have 1,000 fixed broadband subscribers and 10,000 WiFi users, but its long-term objectives are much more ambitious.

Charvel Chedraui, founder and CEO of Wayru, said:

"Only a few sizable telcos control the majority of the market globally. It's time to return connectivity and information access power to the people. We think that as many people as possible should own the infrastructures that make up the Internet."

Wayru has created a distinctive sharing economy model that has the potential to upend the telecoms sector in developing countries and beyond after receiving the support of industry heavyweights Borderless and Algorand. But building a workable infrastructure for the internet is only half the struggle. Wayru needs to deliver improvements from a technological and financial perspective in order to match, if not outperform, its centralized competitors.

In order to fulfill the demands of homes and businesses, the Wayru network has been built to speed up its WiFi On-the-Go service while decreasing the time and cost of broadband deployments. Given that it avoids the common trap of expensive, drawn-out contracts and setup fees, the less expensive model appears even more alluring. The first month will be free for early adopters, which is the icing on the cake.

LatAm becomes a beneficiary early

Latin America was a carefully considered region for Wayru to begin its network. Due to pricey services, inadequate coverage, and unattractive, lengthy contracts, less than half of the families there have access to the internet. In metropolitan regions, just 56.1% of people have access to the internet, and in rural areas, only a pitiful 21.6% of people are online.

The largest and most populous cities in Ecuador, Quito and Guayaquil, are the first two to benefit from the Hotspot network. The consequences of the Wayru Hotspots have the greatest potential to drastically improve people's quality of life in these two places. The Wayru mission has just begun with this launch, and the company has aggressive expansion plans in response to the first wave of acceptance.

Charvel Chedraui, the founder and CEO of Wayru, said:

"We will set up the region's first internet nodes. We want to establish a standard for how this specialized technology functions so that others might subsequently join our network."

Blockchain is the Revolution-Driver

The Wayru Hotspots are the project's lifeblood and lie beneath the revolution's surface. A hybrid network made up of at least 1,000 Hotspots using cutting-edge, fiber-quality mesh technology will be spread throughout Quito and Guayaquil by Wayru.

Wayru tokenized the Hotspots into groups of 1,000 or more, known as Hotspot Pools, using Algorand's blockchain technology. By acquiring "Pool tokens," anyone who wants to assist the network can fund the Hotspot pools.

After purchasing pool tokens, the buyer is automatically staked and will begin receiving WRU as soon as the pool is operational. The Pool's location and the number of Hotspots determine how many tokens are in it. More token pools will be offered for sale if a network in a certain area expands.

The Wayru revolution's second act, the Genesis hardware revolution, has enormous potential for widespread adoption. Each item is a standalone universal WiFi hub that can be ordered from Wayru and utilized by people, organizations, and communities to share internet access and join a bigger network.

Getting What You Put Into It

Wayru is a proponent of the law of reciprocity. Because of this, the participants' income is derived from the output of its users. Anyone who establishes a node, shares an existing connection, or stakes the network will be compensated in $WRU for their efforts and contribute to the recognition of internet access as a fundamental human right.

In addition to speeding up the use of cryptocurrencies and blockchain technology in business, Wayru's innovative user-led decentralized model approach will open the door for much more innovation in the future, spurring an industry-wide acceptance of new technologies.

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