World Mobile, an innovative mobile network powered by blockchain technology, has initiated a token buyback program aimed at fostering the sustainable expansion of its sharing economy. As part of this initiative, the entity’s treasury will acquire its native utility token, WMT, from the open market, and distribute rewards to the participants of its ecosystem.

As per a recent press release, the organization has already performed a buyback on May 29, primarily aimed at benefiting the key contributors who have played a pivotal role in the development of the network. World Mobile’s CEO, Micky Watkins, has highlighted this initiative as a testament to the company’s commitment to its token holders and operators, who are essential to the success of their sharing economy.

By repurchasing World Mobile Tokens (WMT) from the open market, Watkins aims to establish a robust and sustainable sharing economy that benefits all participants. Executing the buyback program, funded by real-world revenue, signifies a considerable stride towards mass adoption, reinforcing the overall stability and utility of the World Mobile ecosystem.

The primary objective of World Mobile’s strategy is to create a self-sustaining mobile ecosystem that offers customers an opportunity to earn revenue while maintaining greater control over data and infrastructure. The token buyback program aligns seamlessly with this long-term vision and serves as an effective mechanism to provide added value to its users.

In a noteworthy development, the value of WMT has surged by nearly 5% in the last 24 hours, surpassing $0.10, as per data from CoinMarketCap.

On a related note, World Mobile recently completed field tests of its Decentralized Wireless Infrastructure (DeWi) technology in Nigeria, Kenya, and Mozambique. These trials demonstrated the scalability of their hybrid-connectivity solution, indicating a potential expansion of services across Africa.

World Mobile’s network, underpinned by blockchain technology, provides cost-effective Internet access to rural regions often overlooked by leading providers. As such, it stands as a critical solution for the struggling regions in these countries. CEO Watkins expressed excitement over the successful completion of these field tests, reinforcing World Mobile’s commitment to connecting the unconnected and underserved areas globally.