Guinea - Bissau internet provider Cajutel will use blockchain technology to help it raise funds for its ambitious aim of bringing the internet to the 98 % of West Africans currently lacking a service . The company plans to build a cost - effective broadband and mobile broadband infrastructure , and has announced an initial coin offering ( ICO ) to raise between $ 12 m and $ 30 m . CEO Andreas Fink said tokens purchased during the ICO would be automatically turned into convertible bonds , offering a long - term investment .
Guinea-Bissau internet provider Cajutel will use blockchain technology to help it raise funds for its ambitious aim of bringing the internet to the 98% of West Africans currently lacking a service. The company plans to build a cost-effective broadband and mobile phone network, and has launched an initial coin offering (ICO) to raise between $12m and $30m. CEO Andreas Fink said tokens purchased during the ICO would be automatically turned into company shares, offering a long-term investment.