Why does OPP Open WiFi need blockchain? Why does OPP Open WiFi need to tokenise the business?

in #wi-fi6 years ago
  • We are building a network of 25 million hotspot hosts across the globe within 4 years.

  • To build that network of hosts we need to run a worldwide marketing and advertising campaign for that 4 year period. We estimate the cost to reach out to each host to be $1.

  • We pay each host on a daily basis for contributing to our global network for a minimum of one hour per day.

  • We pay each host on a daily basis for viewing a pre-agreed number of messages from our advertisers.

The amount we intend to pay each host will significantly contribute to the monthly cost borne by that host in respect of their mobile phone bill and bills associated with accessing the web.

How do we achieve all of this?

Hotspot Hosts — sharing bandwidth

Our agreement with each host covers a specific activity. If you activate our mobile app for one hour per day we will pay you a daily fee. The most efficient and transparent way to manage this is with a smart contract. We provision the reward, once the activity is completed the smart contract is fulfilled and reward released to the host.

Secondary contract with Hosts — viewing advertising

Hotspot Hosts are also rewarded for viewing push messages from advertisers. The hosts elects how many and what type of message they would like to view.

The advertiser is therefore aware of who will view his messages, when and how frequently. The advertiser will pay OPP for this service.

This is a smart contract with 3 players, we provision reward for the host watching the message, the advertiser provisions reward for us providing the service, when the message is watched the smart contract completes and rewards are distributed.

ICO — Smart contracts for investors.

Every investor in our ICO will have their transaction carried out with a smart contract. The smart contract defines how much the investor pays, how it is paid, the number of tokens bought, when the tokens are released, etc.

Each of these scenarios displays the 5 classic criteria that need to exist in order for Blockchain to provide optimal transactional processing.

  1. Presence of a business network, assets and transactions

  2. Multiple participants to verify transactions

  3. To know who has done what and when

  4. Irrefutable trusted transaction

  5. A single view of truth shared across network

Why tokenise OPP?

We will mint 4 billion tokens. 96% Of these tokens will be held in reserve and added to the system to pay rewards to Hotspot Hosts. The tokens will be released in to the system at an approximate rate of 190 tokens per Hotspot Host .

3.6% of the tokens are available in the ICO and will raise the funds needed to operate the business and fund the advertising to recruit the 25 million hosts. We aim to raise $40 million.

The value of each token is 0.4 USD.

If we did not tokenise the business we would need cash held in reserve of $1,600,000,000 simply to pay daily rewards to Hotspot Hosts.

Tokenising the business and fund raising via an ICO is the only method by which OPP OPEN WIFI can deliver its goals and facilitate hundreds of millions of people free access to WiFi hotspots and allow millions of hosts to monetise their unused bandwidth.

In our model every stakeholder benefits. This is what makes OPP OPEN WIFI an extremely important project.

  • Hosts monetise unused bandwidth
  • Hosts control the amount of advertising they view
  • Users gain open and free access to web
  • Advertisers get sharply focussed and willing audience
    Traditional internet suppliers and mobile phone companies are not removed from the model. In fact we recognise the importance of these players who provide the infrastructure. We make their service more affordable for their clients.

In short — OPP will be servicing 25 million hosts with daily payments to reward daily activity. That means we will be making more than 25 million contracted transactions each day. Every transaction involves the movement of assets across a business network, every transaction involves a defined specific activity, every transaction must have total transparency and trust. This is a perfect match for blockchain.

Using an ICO allows us to raise the funds to kick start the business model. If we were unable to mint tokens then we would need a Dollar cash reserve of 1.6 billion USD just to service the Hotspot Hosts.

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