The UK-based mobile network operator, World Mobile, has partnered with SingularityNET, a decentralized artificial intelligence (AI) marketplace, to introduce blockchain-based loans. This collaboration aims to develop credit ratings for a lending program that utilizes blockchain technology, while also enabling World Mobile to expand its network and reach new regions.
By combining AI and blockchain technology, World Mobile plans to enhance its customer service by using AI to answer clients’ questions. Additionally, the mobile network operator will integrate the technology to establish a blockchain-based lending solution. The implementation will be done in phases, starting with credit provisioning to determine eligibility. Then, the program will explore the possibility of providing additional loans to loyal customers. Finally, it will target global users served by traditional financial institutions.
World Mobile’s CEO, Micky Watkins, expressed pride in partnering with SingularityNET, stating that the integration of AI technology for customer support and blockchain-based data loans reflects their shared commitment to delivering innovative solutions. Watkins highlighted the use of AI-driven assistance, decentralized identifiers, and secure blockchain transactions, which aim to provide users with seamless experiences and unlock new possibilities in the mobile industry.
Janet Adams, COO of SingularityNET, described this partnership as a crucial step towards a fairer and decentralized future. She emphasized the importance of providing vital funds to those who have been excluded by the traditional financial system and expressed excitement about collaborating more closely with World Mobile.
This collaboration is part of World Mobile’s ongoing efforts to advance its sharing economy. In June, the company launched a token buyback program to support its growth. By repurchasing its native coin, WMT, from the open market, World Mobile aims to build a sustainable sharing economy for all participants. CEO Watkins believes that executing their business model and initiating buybacks from real-world revenue is a significant step towards mass adoption and strengthens the overall stability and utility of the World Mobile ecosystem.
Furthermore, World Mobile recently partnered with Conflux Network, a blockchain platform developed in China, to expand its network access. These strategic collaborations demonstrate World Mobile’s commitment to leveraging blockchain technology and AI to drive innovation in the mobile industry and provide inclusive financial solutions.
In conclusion, World Mobile’s partnership with SingularityNET to introduce blockchain-based loans represents a significant development in the mobile industry. By combining AI and blockchain technology, World Mobile aims to enhance its customer service and provide inclusive financial solutions to users globally. This collaboration reflects the shared commitment of both companies to deliver cutting-edge innovations and contribute to a fairer and decentralized future.