ICO listing: IUNGO Network

iungo ico
ICO IUNGO Network

IUNGO Network

Ended ICO : 10/12/17 – 15/01/18

IUNGO Network is a Decentralised Global Wireless Internet Provider, powered by blockchain technology.

IUNGO is a globally distributed wireless internet service provider built with the help of a worldwide community. We are bootstrapping a community where everyone can assume responsibilities and benefit from the associated rewards for running parts of the service delivery infrastructure. Members can contribute by installing Public Wi-Fi access points on their premises and/or running parts of the service infrastructure.

Our network will rely on the existing physical Internet infrastructure to carry end-user traffic and will form an overlay network with unified end-user identification, authentication and billing systems. We will use the Ethereum network to build trusted, transparent accounting and payment infrastructure. Our mobile applications will enable low granularity service usage accounting and compensation for services rendered. Additionally to the software solution, hardware will be offered as an option, with pre-setup routers available for those seeking a consumer friendly plug and play experience.

Users – Travellers, Remote workers, Digital nomads, Heavy youtube users.

Benefits for Users:

  • Instant, seamless, safe and automated connectivity with hasslefree payments
  • Affordable and transparent accounting with single wallet globally
  • Usage based on preferences (price, speed, quality, reviews)
  • Global providers network with recognizable branding

Service providers:

  • Small and medium-sized businesses (e.g. restaurants, cafes and bars)
  • large enterprises and governments wishing to provide secure public / visitor internet access
  • individuals who live in close proximity to crowded public spaces
  • Airbnb hosts
  • co-working spaces
  • investors interested in providing wireless coverage in a selected area (street, square, block or whole city)
  • MICE organisers

Benefits for Service providers:

  • Additional revenue stream for individuals and businesses
  • Cost savings
  • Access to a global user base
  • Increased engagement, low entry barrier (cheap – free to use, small fee based on revenue)
  • Powerful web based service management tools (network abuse prevention, reports, billing, alerts, captive portals, white label branding)
  • Marketing tools
  • Increased security

BUSINESS MODEL

IUNGO will charge a 3% transaction fee from WiFi service providers. Additionally 1% will go to the Service Gateway operator (anyone can operate service gateways). This one percent will be distributed equally between all service gateways in a situation where multiple gateways are involved in the transaction chain. Additionally, 1% may go to local evangelists as a referral bonus.

The remaining 95% (or 96% in cases when there is no referrer) of the end user payment will go to the WiFi service provider.

Payments for the service will be made with ING coins within the system. Coins will be available on a variety of exchanges. The service gateway will have integrations with major exchanges to get ING coins instantaneously in real time for a seamless user experience