Swiss telcom Cajutel is on the path to becoming one of the main providers of solar powered high-speed internet in West Africa if its ICO is anything to go by.
To raise the funding for the solar powered high-speed internet, Cajutel Sarl, a Swiss-owned telecom has issued an ICO offer to provide connectivity to a majority of the 1.7 million population who presently don’t have access to the internet. The telco says lack of connectivity has severely impacted the region’s GDP, per capita, literacy and human development index.
Cajutel is therefore selling its Cajutel (CAJ) tokens governed by ERC20-compatible smart contract on Ethereum blockchain. CAJ tokens can be acquired directly by sending ETH to the smart contract address listed on https://cajutel.io and the CAJ tokens will automatically appear in your wallet (make sure you use a wallet which is capable of holding tokens).
As a part of its crowdsale, Cajutel has authorized the creation of an additional 780,000 shares, of which 720,000 will be offered for sale to the ICO participants and the rest 60,000 will be allocated for bounties and to cover advertisement costs. The telecom operator has set the maximum cap for CAJ tokens at 1,780,000 where existing shareholders will retain 1,000,000 tokens, and the remaining will be used in token sales, bounty and advertising payouts. The maximum cap will remain fixed until shareholders agree to issue more shares. Each CAJ token will represent a share in the platform.
The ICO will be held in five distinct phases. The first two phases will offer 10,000 tokens each for sale and the price of each token during the first and second phase is set at 0.05 ETH and 0.075 ETH respectively.
The third, fourth and fifth phases will involve the sale of 100,000, 200,000 and 400,000 tokens at a unit price of 0.10 ETH, 0.15 ETH, and 0.20 ETH respectively. The CAJ Ethereum based tokens will act as share certificates and carry the same rights as any other stocks including dividends. The value of the token is thus backed by the company’s asset and earnings.
The firm hasn’t stated details about the project and TechMoran is not sure if the project will really take place but Guinea-Bissau stands to benefit if Cajutel builds the infrastructure from the ground up to bring reliable high-speed broadband internet at affordable prices. If the ICO money is used to do what it’s intended to do, the entire Cajutel infrastructure will be solar-powered, making it more sustainable and economical over the long run.
The deal will bring 1 gigabit capacity into the country from neighboring countries, build and install all equipment and towers and have partnerships with small shops and kiosks already in place.