The Cudos team is gearing up for the mainnet launch, all thanks to our hardworking team of developers. We concluded the third phase (Armstrong) of our incentivised testnet, Project Artemis, and will be wrapping up the final phase, Collins, in the coming days.
As we look back at 2021, our partnership with Tingo was among the crucial alliances we formed this year. When distributed cloud computing blockchain network Cudos joined hands with telecommunications service provider Tingo, we shared a common goal – unleashing the potential of blockchain to create a positive impact in the lives of 10 million people in Nigeria.
This association is significant to the whole industry as we become the first blockchain network to connect consumers to scalable computing through smart contracts and give access to 10 million Nigerians to join Cudos’ decentralised computing network.
Learn more: 🔥 Five blockchain trends for 2022 🔮
As the partnership is already driving a change at the grassroots level, our founder and CEO Matt Hawkins caught up with Tingo President Dr Chris Cleverly to discuss the true potential of blockchain as a force for good and how the partnership can have a positive social impact on the lives of people in Africa. During their chat, they touched upon the need for decentralisation of services and monetisation avenues for users in the metaverse.
We are excited to share the uninterrupted, candid conversation between the pioneering duo as they outline the future of democratised cloud resources, fuelling the metaverse and helping communities monetise their mobile phones.
The conversation happened on the heels of Cudos announcing a significant collaboration with Cornucopias, enabling the blockchain gaming metaverse to extend the Cardano infrastructure by creating a new method to build dynamic NFTs via the Cudos network.
The three-way partnership between Cudos, Tingo, and Cornucopias aims to create an additional revenue stream for Tingo’s customer base. It underlines Cudos’ vision of creating a fully inclusive digital ecosystem by giving users in Nigeria a chance to make passive income by utilising their smartphone’s spare computing capacity.
Key excerpts from their conversation:
- Leapfrogging with technology
Dr Chris Cleverly: Tingo has up to 10 million customers in Nigeria alone, and everybody has a smartphone. People believe Africa is behind everywhere else, but it’s actually ahead. In things like mobile banking, Africa with Peso app, the mobile banking solution was ahead of America by ten years. So I think Africa will leapfrog the rest of the world by using blockchain technologies. What excites me about Cudos is that you allow us to do that.
Matt Hawkins: What we’re excited about is being able to really bring blockchain and essentially finance services to the unbanked. And now that we’ve got this bridge between decentralised finance and traditional finance, I think we can bring all the financial services you’ve got today and a lot more to these users that come in straight onto these new technologies.
- Monetisation through computing
Dr Chris Cleverly: What astounds me about Cudos is that it democratises cloud storage. It could suddenly put $10, $20 into the account of one of Tingo’s smartphone users. Maybe that’s not a big thing in the west, but that’s a massive impact when your annual income is $5,000 a year. And that means a free phone, three smartphones paid for, plus data and other services, maybe even insurance. And that can be life-changing for Nigerians.
Matt Hawkins: Cudos essentially takes the revenue that sits already in the other traditional cloud computing market and distributes it to the underprivileged users. A mobile phone plugged into wifi charging for eight hours lets you earn while users are asleep. If you went to Amazon or Google, these other providers, you’d pay somewhere between a hundred and $200 a month for that computing resource. So if we can transfer that into just one-third of the device’s availability, we can move that revenue across.
Dr Chris Cleverly: And it’s going to start paying back the service, isn’t it? So the hardware becomes a secondary cost because the service pays for it. So it doesn’t matter whether we’re selling data, cloud storage, cloud processing, computer processing; it doesn’t matter what the services are because we’re now distributing it. And then, on top of that, we are bringing in partners who build mobile mesh network services like ISPs that can be distributed as well. So we decentralise the infrastructure, which increases the number of people participating.
To hear the whole conversation, watch our YouTube video.
Be part of the decentralised infrastructure with us. We are looking for data centres and cloud service providers with global locations. If you are one and want to join our ecosystem, contact us now. If you already have your CUDOS tokens, why not make the most of them by staking them on our platform and securing our network?
The Cudos Network is a layer 1 blockchain and layer 2 computation and oracle network designed to ensure decentralised, permissionless access to high-performance computing at scale. It enables the scaling of computing resources to hundreds of thousands of nodes. Once bridged onto Ethereum, Algorand, Polkadot, and Cosmos, Cudos will enable scalable computational and layer-two oracles on all bridged blockchains.