Nigerian Communications Commission Invests in Blockchain Startup Wicrypt

The Nigerian Communications Commission, the nation’s telecom regulator, has invested 2 million nairas or around $5,500 in blockchain startup Wicrypt. 

Wicrypt provides a blockchain-based WiFi sharing service, which enables clients to earn by sharing their internet connection.

Clients can register by means of Wicrypt’s mobile application and deposit funds utilizing fiat currency, along with three digital currencies—ether (ETH), bitcoin (BTC), and Binance coin (BNB). On the other hand, hosts can withdraw their profit in fiat or digital currency.

Wicrypt states it has an inbuilt wallet that verifies a recipient has enough assets to begin utilizing the service.

“Wicrypt automatically cuts off a beneficiary when his money is exhausted. It allows automatic connection between user and beneficiary once the beneficiary has enough funds to start using the service,” it further said.