Cajutel Sarl, a Swiss-owned telecom company, is building infrastructure to help all individuals in West Africa gain access to high-speed Internet at affordable prices, the company said.
The company is set to achieve it by building the non-existent infrastructure from scratch to provide a long-term solution. Cajutel has decided to adopt the cryptocurrency market as a modern way to raise the much-needed investment for its ambitious project. In the process, the company has created the first ever solar DAO in Africa.
Cajutel is a Guinea-Bissau, West Africa based company that has chosen to initially focus its efforts in the local region before expanding across the continent. Through its project, Cajutel aims to provide connectivity to a majority of the 1.7 million population who presently don´t have access to the Internet. The lack of connectivity has severely impacted the region´s GDP, per capita, literacy and human development index.
As a part of its fundraising initiative, Cajutel has launched the crowdsale of its CAJ tokens. The Cajutel (CAJ) token sale went live on August 18, 2017. The platform´s tokens are 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.