GLOBAL DIGITAL DIVIDE AND FUTIRACOIN'S QUEST TO BRIDGE THIS GAP VIA CRYPTO/TELECOMMUNICATIONS INTEGRATION
A LOOK AT THE EXISTING CHALLENGES
With reference to a publication by the United Nations, nearly half of the globe still lacks internet connection. The digital gap is the distinction between those who have access to a mobile network and the internet and those who do not. Those without internet connectivity will be left adrift socioeconomically as the globe becomes more dependent on it. By addressing gaps through mobile networks and digital connectivity, a region's economic expansion will improve, as will social mobility and wealth distribution.
According to the World Bank, emerging economies have a 35 percent internet connection, compared to 80 percent in advanced nations, and increasing internet connectivity to 75 percent in developing countries "would add quite so much as US$2 trillion to their collective gross domestic product (GDP) and generate more than 140 million jobs around the globe." The problem is much worse in Middle Africa, where only 26% of the population will have internet connection in 2021, according to statistics.
WAY FORWARD?
Because of technologies that rely on centralized systems, closing the digital gap has always been difficult due to two main reasons: expensive infrastructure expenses to finance rural, distant, or lightly populated areas, and an underfunding as a consequence of the high infrastructure costs. However, with the technological innovations, the digital divide may now be bridged, and the individual behind the resolution and the technological innovation is the same man who gave the world the WiFi technology we enjoy today.
Dr. Hatim Zaghloul is one person who is dedicated to closing the digital divide. Dr. Zaghloul and his friend Dr. Michel Fattouche, both Canadians, altered the universe once when they addressed the challenges surrounding high-speed mobile services and developed high-speed WiFi as we know it today, enabling 3G, 4G, and 5G speeds. Wi-LAN Inc.'s proprietary technologies are still the bedrock of wireless communication.
His most recent invention is InoMesh, an unique blockchain system that, when merged with wireless mesh networking technologies, can bridge the digital divide by providing low - cost broadband internet access to rural areas. Inovatian Inc., the company that owns the technologies, conducts research in both Egypt and Pakistan.
He feels that there are many investors out there seeking for initiatives that will not only provide them with a decent profit but will also result in significant societal change. "I've spoken to partners like Nokia and Huawei, and there's a broad understanding that 6G will embrace blockchain," Dr. Zaghloul said in an interview with Wired Middle East. In 6G, we will decentralize the network. We disagree because they aim to develop 6G at a rate of 1 terabit per second. That's fantastic, but it won't assist Africa... "We'll construct another benchmark, and they'll be left out," Zaghloul says. "I figured that if we created a standard, or a variant of a standard, that said, 'If you have wifi on your gadget, we'll provide you complete services,' we'd bring these people to the forefront, to the contemporary world."Africa's system incorporates 4G for external use with WiFi for indoor and stationary use, providing users the perfect blend. 4G coverage is pervasive, and WiFi coverage is inexpensive.
FUTIRACOIN'S SOCIAL IMPACT
While most other ICOs use the Ethereum network, this new crypto will operate on its own blockchain network, anchored by a proper business and with a social mission. Futira Coin is a crypto project that will be the topic of an initial coin offering (ICO) by the end of 2021. Simply said, this is a crypto fundraising campaign. The Futira Coin sale will help Inovatian build integrated operator communication infrastructure in Middle Eastern and Middle African countries, allowing rural and distant communities to have affordable internet connection.
The Futira Coin will be released by Slovakia's Futira SRO, which is licenced to generate and operate both a cryptocurrency exchange and a cryptocurrency wallet.
While satellite connections can help narrow the gap by delivering internet to rural areas through satellite, it is still expensive. The true problem is how the internet network is distributed on the ground, or the "last mile," which can be expensive if centralized network infrastructure is employed to serve a small population in a remote location.A revolutionary blockchain-based technology can deliver low-cost digital infrastructure that is sorely needed in isolated regions and low-income countries.Its patented mesh network, InoMesh, which functions as wifi routers and is governed by its innovative blockchain technology, InoChain, is used to link users on the ground to the internet at a minimal price.
FutiraCoin is developed on InoChain unique blockchain technology, unlike all the other blockchain technologies that rely on the Ethereum blockchain. It uses a Proof of Stake (PoS) decentralized network rather than the Proof of Work (PoW) consensus mechanism used by Ethereum, Bitcoin, as well as many other blockchains. Since there is no mining associated, the PoS algorithm allows for a much more scalable blockchain with increased transaction capacity, making it a more durable technology with less energy demand. The earnings from the Futira Coin sale will be used to set up the first stage of the telecommunications network in the first region (Chad and Mauritania). It will require USD12 million to completely finance it effectively, including facilities, setup, execution, and promotion.
The FutiraCoin will also be utilized as a credit for the subscription plan for users. This means that when subscribers subscribe for network services, they are essentially purchasing a little bit of the currency, which will be debited as they make calls or browse the internet on their phone. The price of the coin will rise as more people use the network. This, however, will only favor the subscribers.
CONCLUSION
When people are lacking access to digital connections, they are deprived of the abilities they need to succeed in the twenty-first century. Digital connectivity makes it easier to access jobs, skills, and marketplaces which would otherwise be out of access. They have equal opportunity to elevate themselves, their families, and their communities out of poverty and into a decent level of living, regardless of where they live. The goal of FutiraCoin has always been to get communications to everyone, and we're still a long way off. Regrettably, industrialized countries regard Africa as a market. People in Africa have dreams, and Futira wants to offer them the freedom to pursue them. This project will always be driven by that enthusiasm. If you wish to get the latest information, kindly check these links below:
Website:
https://www.futiracoin.com
Facebook
https://www.facebook.com/FutiraCoin
LinkedIn
https://www.linkedin.com/company/futira-coin
Instagram
https://instagram.com/FutiraCoin/
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