The Nigerian Communication Commission, NCC, has ran a 3-day innovation competition and exhibition with 3 tech startups selected as winners of the competition.
WiCrypt, a WiFi payment blockchain startup, came second in the competition and was awarded 2 million Naira (Approx. $5, 500) for emerging among the top 3 finalists.
Out of the 25 shortlisted innovations, here are the top 3 startups that won the competition:
- QMartins Fidelis
- Phaheem Pharmaceuticals Ltd
How WiCrypt Works
Wicrypt is an app that allows its users to get paid while sharing their Wi-Fi. The app leverages the blockchain and allows users to receive payments per megabyte of their wifi data consumed by a beneficiary.
Users can connect WiCrypt to a router and have several users connect and pay for using the Wi-Fi. A user has the freedom to set their own price per megabyte of data consumed.
The app has an inbuilt wallet that verifies the beneficiary has enough cryptocurrency to start using the service.
Here is the process for using WiCrypt:
- Users register by downloading the WiCrypt mobile app
- Deposit funds into the wallet via bank, card payments, or MPESA
- Subscribers can register by depositing funds via bitcoin, ethereum, or Binance token
- Register users can now search for available Wi-Fi hotspots and connect
- Wi-Fi service charge is deducted per megabyte used from the deposited funds
- Wi-Fi host credited for his earnings per rate applied
- The host withdrawals earnings either as bitcoin, ethereum, or Binance token, or via bank or MPESA
The NCC is committed to assist the startups bring their ideas to fruition and give them a platform to present their innovations to both local and global venture investors.
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