Cudos and Tingo Vow to End the Poverty Premium With a Huge

Minutes of standing ovation followed Cudos’ latest announcement at the AIBC summit. The decentralized cloud computing blockchain network will partner with Tingo to tackle the poverty premium through mobile monetisation applications.

The announcement happened on stage at AIBC Malta, a global event unifying Ai, UI, IoT and Quantum (NASDAQ:) Tech and hosting thousands of policymakers and thought leaders.

As a growing, scalable computing network, Cudos has over 500,000 business and individual accounts, contributing underutilized resources and earning simultaneously. Like Airbnb for computing, this sustainable model reduces waste and distributes the revenues fairly across the network.

With a focus on sustainability, Cudos is already over two million times more energy-efficient than and 100% carbon-neutral. With a robust technology delivered ethically, the decentralised cloud provider attracted 22,000+ developers for its ongoing testnet ‘Project Artemis’.

The significance of this extends to the whole industry as Cudos will be the first blockchain connecting consumers to scalable computing through smart contracts. These are the foundations for powering the metaverse, and in this case, providing a whole country with decentralized computing.

The impact of the collaboration will initially extend to almost 10 million devices across the Tingo network. As a unique agri-fintech business that has delivered significant impact to rural communities, the partnership will enable the creation of a distributed cloud for Nigerians, run by Nigerians, that pays Nigerians. Considering that the country is the second-largest market after the US, the significance is unprecedented. After Nigeria, Tingo will expand across Africa and South America, broadening the positive impact further.

The importance of the collaboration, however, goes beyond financial inclusion and freedom. It unites social and environmental needs focusing on economic empowerment while reducing the ecological impact of computing.

The partnership would enable people to run monetisation applications on their smartphones. This would create a fully inclusive digital ecosystem, distributing the Cudos technology to millions of smartphones.

In partnership with Tingo, Cudos has the opportunity to scale a highly distributed smartphone cloud computing network across Nigeria first before expanding into other regions. Ultimately, each community will leverage sustainable, scalable and cost-effective computing resources.

This is a colossal collaboration, as Tingo’s model supports farmers in rural Nigeria who would receive single-digit loans rather than the typical microfinance 25%+ interest through the collaboration with DeFi partners MELD. Farmers would use their phones to earn CUDOS.

CUDOS will not only become a currency for payments within this ecosystem. The network will become a compute platform for Nigerian institutes and…