Meet one of our selected startups in the Algorand Miami Accelerator 2021: Wayru
Today, we present another company participating in the “Algorand Miami Accelerator 2021”. Meet Wayru, the first Internet service provider to democratize infrastructure ownership, by designing an inclusive network.
Problems to access Internet in LATAM
Ten years ago, the UN declared access to the Internet as a human right, but today 3.7 billion people in the world do not have access. In Latin America, 80 million homes do not have Internet connection. This problem occurs because traditional service providers do not focus on connecting people by expanding coverage, but instead, look for new business verticals to increase their centralized profits, regardless of service quality and inclusion across the region.
Wayru is the first Internet service provider to democratize the ownership of the underlying infrastructures. The company is designing an Internet network that provides connection in any city, through air fiber technology, wireless radios and mesh Wi-Fi routers. Wayru then tokenizes the Internet grid and divides it into regions called “AirBlocks.” Anyone can buy an AirBlock and get up to 20% of the revenue.
Wayru’s business model
As mentioned before, Wayru designs networks that provide Internet to a specific geographic radius at a fraction of the cost compared to traditional models. Then it tokenizes the network and divides it into “blocks” known as AirBlocks. This way, they provide Internet connection to a number of specific geographic areas and clients.
Thanks to the smart contracts of blockchain technology, anyone can rent an AirBlock and share the income obtained from consumer subscriptions over a period of 5 years.
Every month, 10-20% of the royalties earned on an AirBlock is sent to the Algorand wallet provided by the owner of the block. The company will use its own ASA (Algorand’s Standard Asset) called Wayru Network Tokens, to settle all payments. In principle, the token will be exchanged directly with the company, although in the near future it may also be traded on various exchanges.
We call this a distributed property network!
Commitment to solving connectivity problems
The CEO, Charvel, is a resilient and passionate entrepreneur who has dedicated his last 10 years to solving connectivity problems, specifically the lack of Internet access in emerging countries. He developed the first Wi-Fi marketing platform in Latin America and worked as a regional director of Wi-Fi marketing for a multinational company, where he managed teams in more than 6 countries, and connected more than 50 million people.
Charvel also co-founded the first and only Wi-Fi solution in LATAM, directed to pyramid companies, helping them increase their income. The objective of “Wayru” is to provide Internet connection that allows people to study, work and entertain themselves without limitations, at the lowest cost possible, and with a top quality service that can reach any region.
Would you like to contact the selected companies or learn more about the program?