How will WMT be used for utility?
Anyone can use WMT to pay for services through the World Mobile app. This can also be done with fiat currency at a local store in locations where crypto is not yet accepted. If the service is offered in a country that is open to crypto, then users will use WMT. If the service is offered in a country that does not allow crypto, then the service will be paid for in the local currency. World Mobile will convert the local currency to WMT to pay for the network fees.
The cost of the service is a fixed amount in a local currency, as set out by the regulator in each country. Whether you pay for the service using fiat or WMT, the cost of the service is the same. Your $30 recharge is always going to cost $30 in local currency. The transaction is time-stamped at the time of purchase and the amount of WMT used for the recharge translates to the cost of the service in fiat.
This avoids any fluctuations in the cost of service regardless of the price of WMT.
Customers will also be able to use WMT to pay for services such as streaming, gaming and e-commerce through the World Mobile app.
Additionally, the token is used by nodes for staking to maintain consensus in a similar way to how Cardano works. This is done to keep the network secure and decentralised.
World Mobile has partnered with IOHK as a direct result of its intention to provide financial services, insurance, microloans, RealFi and much more to end-users. Every additional service provided by the World Mobile network will generate additional transactions, which will incentivise node operators and contribute to future growth as the sharing economy develops.