A group of European governing institutions have approved a program to invest €120 million ($134.7 million) in public WiFi hotspots in over 6,000 municipalities in all European Union member states by 2020. The WiFi4EU initiative, first proposed last September, is a stern disregard for recent history – which has seen the closure of almost every muni-WiFi project ever launched. To demonstrate how the project is poised to be a colossal waste of money, iPass data counts that Europe currently has 87 million community WiFi hotspots, otherwise called Homespots, in 12,721 municipalities, with retail being the most common area with 380,000 WiFi hotspots across Europe. This gives an average of 6,840 homespots per municipality in Europe today. The EU is currently…