Decentralized cloud computing blockchain network Cudos has partnered with Tingo to address the poverty premium in Africa. The collaboration will empower over 9 million Nigerians to earn CUDOS tokens through monetization applications on their smartphones. This will not only distribute the Cudos technology to millions of smartphones, but it will also work toward financial inclusivity and freedom through a digitized ecosystem.
Notably, the announcement was made at the AIBC Malta summit amid celebratory applause and commendation. The event brings together Artificial Intelligence (AI), User Interface (UI), Internet of Things (IoT), and Quantum Tech, alongside thousands of policymakers and thought leaders.
Cudos is a thriving scalable blockchain, boasting over 500,000 business and individual accounts. The network provides use-cases for underutilized resources while distributing proceeds evenly across network participants. Cudos is the Airbnb for computing, cutting on wastage of resources, and simultaneously creating income-earning opportunities.
Moreover, the decentralized cloud provider is keen on sustainability and eco-friendliness. It is 2 million times more energy-efficient than Ethereum and 100% carbon neutral. Cudos’ robustness and ethical stance have attracted over 22,000 developers for its ongoing testnet dubbed “Project Artemis.” This development will make Cudos the first blockchain bridging smart contracts and scalable computing. It also builds the foundation for powering the metaverse, in addition to enabling decentralized computing in a whole country.
Its latest collaboration with the Tingo network will involve almost 10 million subscribers in Nigeria. Cudos is partnering with the firm since it has delivered a significant impact to the rural communities its network spans. Tingo has allowed farmers in rural Nigeria access to low-interest loans through a partnership with the MELD DeFi protocol. The two will now jointly create a distributed cloud for Nigerians, run by Nigerians, and pays Nigerians.
Beyond financial security, the duo will provide social, environmental, and economic empowerment through low ecological impact computing. They will also slow down mass migration to urban settlements in search of greener pastures. The West African nation is the second-largest Bitcoin market in the world after the US, and therefore, the benefits of this collaboration will likely be significant.
Once the Nigeria project has reached completion, Tingo plans to increase its coverage to the rest of Africa and South America. Cudos itself will have the chance to provide scalability to a highly distributed smartphone cloud computing network in Nigeria, before expanding to other regions. Eventually, communities will have access to democratized, scalable, sustainable, and cost-effective computing resources.
Pete Hill, the VP of Sales at Cudos, noted:
“Positive social impact is the driver behind this deal, providing financial security to millions of users initially.” Additionally, “Close to 10 million users able to earn and spend CUDOS is also essential for the growth of our network.”
Part of the partnership involves listing the CUDOS token on CoinField, a leading European exchange recently acquired by Tingo. This will promote easier access and liquidity for the token in 198 countries.