Cajutel, a Swiss-owned, Guinea-Bissau-based company, has embarked on a mission to provide a solar-powered, broadband Internet network to Guinea-Bissau and neighboring countries, bringing Internet access to much of West Africa. The company plans to fund its ambitious project by issuing Ethereum tokens through an ICO, which ends on Nov. 18, 2017.
By delivering affordable and reliable Internet connectivity for the first time to much of the region, Cajutel believes it can provide the infrastructure for a wide range of Internet services that will strengthen the economy and the nation’s education system.
Western Africa’s telecommunications market is currently characterized by imperfect reinvestment of profits, ineffectively dimensioned phone links and a widely varying network infrastructure. Some parts of the region have no telephone and Internet access.
A lack of strategic planning and management has largely undermined the state of telecommunications in the region.
Cajutel, whose owner brings experience in both mobile phone operations and cryptocurrency mining, plans to restructure telecommunications administrations in Guinea-Bissau from the traditional monopolistic model to independent commercial entities. The company believes it can accomplish this goal by building a solar-powered, high-speed Internet infrastructure, which will reduce the cost and improve reliability, thereby providing broadband access to large numbers of people for the first time.
Cajutel believes it can extend broadband access to every remote rural area.
The company plans to offer the fastest Internet service, outperforming existing operators by a factor of 10 to 100, for at least 30% lower cost. The company expects to reduce monthly customer subscription charges from as much as $60 to $9.
There are currently 1.2 million mobile phones in Guinea-Bissau, versus only 4,844 land lines, most of which have become active in the last 10 years. Despite this extensive mobile network, the quality of mobile phone service is very poor, evidenced by a 20% call success rate.
Calls among different carriers are oftentimes not possible.
The country’s 15,000 Internet users currently pay nearly $60 per month for an advertised access speed of 300 kbps and slow connections with high failure rates. Loading the Google web page can take up to 20 minutes.
Telecommunication in Guinea-Bissau relies entirely on satellite links and cables in neighboring countries. Plans to connect a sea fiber cable have not come to fruition.
An Opportune Investment
In expanding access to large regions and becoming the dominant telecommunications provider in Western Africa, the company will create an opportune investment for the its’s shareholders.
The company has launched an ICO to finance project development. The ICO ends on Nov. 18, 2017.
Cajutel will issue 720,000 Ethereum-based tokens in an ICO and 60,000 additional shares allocated for bounties and to cover advertising costs. One million tokens will be retained by existing shareholders. There will be 1.78 million tokens in circulation.
The creation of additional tokens will require shareholder approval. Each token will represent a share of the company and equal voting rights.
One of Cajutel’s major shareholders, DataCell ehf, operated a mobile network in Iceland in 2007 using 4G technology. The company also operated a cryptocurrency mining data center in 2010.
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