World Mobile Partners with SingularityNET for Blockchain Lending and AI Innovation August 23, 2023 August 23, 2023 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsAugust 23, 2023 by Kelly Cromley

World Mobile Partners with SingularityNET for Blockchain Lending and AI Innovation

The UK-based mobile network operator, World Mobile, has forged a strategic alliance with the decentralized artificial intelligence (AI) marketplace, SingularityNET. The collaborative effort aims to pioneer novel credit rating systems within a blockchain-backed lending program while concurrently enhancing World Mobile’s customer service capabilities through AI-driven solutions.

This partnership also holds the promise of amplifying World Mobile’s operational scope, facilitating its expansion into previously untapped regions. According to a document accessed by CryptoPotato, the integration of SingularityNET’s AI technology will empower World Mobile to furnish clients with more efficient responses to generic inquiries. This infusion of advanced technology will additionally facilitate the establishment of a lending solution grounded in blockchain principles.

The phased introduction of this solution entails multiple stages. Firstly, credit provisioning will be executed to ascertain the eligibility of prospective users for the offering. Subsequently, an assessment will be conducted to determine the feasibility of extending further loans to loyal clientele. Ultimately, the program’s reach will extend to global users served by conventional financial institutions. Offering insights on this transformative initiative, World Mobile’s CEO, Micky Watkins, asserted:

“Our collaboration with SingularityNET for AI-driven customer support and the introduction of blockchain-based data loans reflects our shared commitment to deploying cutting-edge innovations to address real-world challenges. By harnessing the potential of AI, decentralized identifiers, and secure blockchain transactions, we are enriching user experiences and unlocking new vistas within the mobile industry.”

Janet Adams, Chief Operating Officer of SingularityNET, emphasized the strategic importance of this partnership for the company’s trajectory. Adams emphasized that the collaboration would facilitate providing “essential resources to individuals who have previously been excluded by the conventional financial system.” Echoing this sentiment, Adams expressed enthusiasm for a more equitable and decentralized future through close cooperation with World Mobile.

Having initiated a token buyback program in June, World Mobile has been actively shaping the contours of its evolving sharing economy. Under this initiative, the company’s treasury has been engaging in the repurchase of its native coin, WMT, from the open market, thereby enabling rewards to be distributed to select users. Reflecting on this strategic move, CEO Watkins outlined the company’s rationale:

“By strategically repurchasing World Mobile Tokens (WMT) from the open market, we are establishing the foundation for a sustainable sharing economy that benefits all participants. Our approach, centered on real-world revenue and buybacks, represents a substantial stride toward mass adoption, bolstering the stability and utility of the World Mobile ecosystem.”

Demonstrating a persistent commitment to network expansion, World Mobile recently joined forces with Conflux Network, a Chinese-developed blockchain platform. This collaboration, initiated last month, aims to expand the network’s access and presence.

In summary, the synergistic partnership between World Mobile and SingularityNET marks a pivotal moment in the intersection of AI technology, blockchain innovation, and financial services. Through the introduction of blockchain-based lending solutions and AI-driven customer service enhancements, the collaboration aligns with the vision of pioneering novel pathways to address industry challenges and carve a more inclusive, decentralized future.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.