World Mobile partners with SingularityNET to launch blockchain-based loans

World Mobile, a decentralized wireless network operator, today announced it has partnered with SingularityNET to introduce blockchain-based loans to its customer base. This partnership involves integrating SingularityNET’s AI technology into World Mobile’s blockchain-powered mobile network.

The strategic collaboration will involve SingularityNET and World Mobile teaming up to create AI-driven customer support services, along with credit rating mechanisms for a forthcoming lending program. This initiative aims to elevate customer service standards while enabling World Mobile to extend its telecommunications network and expand its presence in new regions.

The news comes just a month after World Mobile appointed Ex-SoftBank India Head Manoj Kohli as an advisor as part of the company’s plan to scale its platform, which uses blockchain technology and hybrid connectivity to deliver affordable and accessible wireless services to people all around the world.

By leveraging SingularityNET’s pioneering technology, World Mobile can streamline customer service interactions by automating responses to common queries, allowing staff to focus on more complex matters.

Furthermore, the partnership is set to give rise to advanced AI-driven products and services. A notable highlight is the development of a blockchain-based lending solution that utilizes AI-generated credit ratings.

World Mobile’s lending system will be introduced in phases. Initially, existing users will have access to credit upon completing their prepay term. Subsequently, loans will be offered to established customers with positive payment histories. The final phase seeks to extend the lending program to global users who lack access to traditional financial institutions. With 1.4 billion adults worldwide still unbanked, despite having mobile phones, this initiative could bridge the gap by providing them with financial services, provided connectivity is available.

Commenting on the partnership, Micky Watkins, CEO of World Mobile, said: “We are proud to partner with SingularityNet on the integration of AI technology for customer support and introducing blockchain-based data loans. This strategic partnership reflects our shared commitment to delivering cutting-edge innovations to solve real-world problems. With AI-driven assistance, decentralized identifiers, and secure blockchain transactions, we are empowering users with seamless experiences and unlocking new possibilities in the mobile industry.”

Janet Adams, COO of SingularityNET, added: “SingularityNET was founded with a vision to democratize access to technology and wealth. This partnership is a key component of this journey – it will allow us to get vital funds to those the traditional financial system has previously excluded. We look forward to collaborating more closely with World Mobile to pioneer a fairer, decentralized future.”

Meanwhile, the collaboration with SingularityNET extends beyond the immediate advantages it offers to World Mobile’s customers. This partnership also showcases the capabilities of SingularityNet’s blockchain-powered AGI, which can rival human intelligence. By harnessing this potential to address real-world challenges, World Mobile can introduce groundbreaking products, particularly targeting the underbanked population.

Founded a few years ago, World Mobile’s goal is to connect everyone, everywhere while advocating for economic freedom and dignity. Unlike traditional mobile networks, World Mobile is based on blockchain and incentivizes people to be part of a sharing economy that taps into the trillion-dollar global telecom market. Individuals and business owners around the world can operate nodes on its network and bring their communities online while earning revenue.