UK-based mobile network operator World Mobile has collaborated with decentralized AI marketplace SingularityNET to create credit ratings for a blockchain-based lending program. This partnership will also facilitate the expansion of World Mobile’s network to new regions while enhancing customer service through AI-driven support.
Combining AI and Blockchain
The collaboration between World Mobile and SingularityNET will lead to the integration of AI technology into World Mobile’s customer support and the implementation of a blockchain-based lending solution. The partnership aims to address real-world issues by combining AI-driven assistance, decentralized identifiers, and secure blockchain transactions.
The blockchain-based lending solution will be introduced in three phases :-
- The initial phase will involve provisioning credit to assess eligibility.
- In the second phase, the company will explore extending additional loans to loyal customers.
- Further, the final phase will expand the program to a global audience, including those served by traditional financial institutions.
World Mobile CEO’s Perspective
World Mobile’s CEO, Micky Watkins, expressed pride in the partnership with SingularityNET and emphasized the commitment to innovative solutions for real-world challenges. Consequently, the integration of AI and blockchain technology is expected to create seamless experiences and unlock new possibilities in the mobile industry.
Furthermore, Janet Adams, COO of SingularityNET, highlighted the significance of this partnership as a means to extend financial opportunities to individuals excluded from the traditional financial system. Moreover, the collaboration aims to contribute to a fairer, decentralized future.
Previous Endeavors by World Mobile
Nevertheless, in previous initiatives, World Mobile launched a token buyback program to boost the growth of its sharing economy. The company’s treasury purchased its native coin WMT from the market, distributing rewards to users.
Additionally, World Mobile partnered with Conflux Network, a Chinese blockchain platform, to expand network access.
Moreover, the collaboration between World Mobile and SingularityNET showcases the integration of AI technology, and blockchain solutions to improve customer service and introduce a blockchain-based lending program. Also, the phased implementation approach highlights the aim of addressing financial inclusion and creating a more decentralized future.
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