The ICD-Islamic Development Bank Group, a multilateral development bank that promotes social and economic development in member countries, and Trustedchain, a software development and consultancy firm in Saudi Arabia, announced a strong partnership with RNS Solutions Pvt Ltd., the leading blockchain software development company from Pakistan, Korea, and Singapore.
The consortium (RNS Solutions & Trustedchain) will construct a blockchain and AI-based financial literacy (FinLit) platform as part of the cooperation, which will include a blockchain-based crowdfunding lab. An interactive financial learning management system and financial AI chatbot help systems will also be part of the platform.
FinLit will break down complex financial and investment concepts, services, and products within the platform in order to deliver financial education and information to younger generations who are often unprepared for the financial needs of the new world.
Dr. Shakil Muhammad, Chairman of RNS Solutions, stated, “Our children often end up out of college, in the real world, with no understanding how to leverage their present income into sustainable and generational wealth.”
“FinLit will offer a variety of courses, including financial education through hackathons, webinars, and tracking, as well as project exhibition. For companies, each project will have tokenized equity, allowing investors to make safe and profitable project funding decisions.”
Users can use the platform’s embedded AI-based chatbot to engage in contextual and non-contextual talks. The chatbot uses Natural Language Processing (NLP) to provide context, responses, and information so that the user may make the best decision possible. Machine learning technologies will ensure that each enquiry is answered with the correct financial definitions and answers.
RNS Solutions MENA’s relationship with Trusted Chain, which has been engaged on a national and international scale in Asia for many years, will result in rapid economic growth in the larger MENA region.
In terms of blockchain and software, the collaboration with RNS Solutions will position Asia and the Middle East and North Africa (MENA) as forerunners in the blockchain development game.
The much-anticipated FinLit software development platform is set to revolutionise how people all around the world access, process, and use financial education.