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RNS and Trusted Chain Develop Platform for Islamic Development Bank

ByLouis Adams

Jun 14, 2021
Reading time: 2 minutes

Pakistan, June 10, 2021 — RNS Solutions, the leading blockchain software development company from Pakistan, South Korea and Singapore, announced this week a formidable partnership with the Islamic Corporation Development Bank Group, a multilateral development bank that promotes social and economic development in member countries, and Trusted Chain, a software development and consultancy firm in Saudi Arabia.

As part of the partnership, the consortium, comprising RNS Solutions and Trusted Chain, will develop an artificial intelligence-based financial literacy platform, which will feature a crowdfunding lab based on blockchain technology. The platform will also include an interactive financial learning management system and financial AI-based chatbot support systems.

In an effort to provide financial education and information to younger generations who are often ill-prepared for the financial demands of the modern world, the platform will use financial literacy to break down complex financial and investment terms, services and products.

“Our youth often end up out of college and in the real world with no idea how to leverage their current income into sustainable and generational wealth,” said Shakil Muhammad, chairman of RNS Solutions, adding, “Financial literacy will provide various modules from financial learning by hackathons, webinars, tracking, to project exhibitions. Each project will have tokenized equity for startups and enable investors to make secure and profitable decisions regarding project funding.”

As part of the platform, users can engage in contextual and non-contextual discussions using the embedded AI-based chatbot, which is able to provide context, answers and information via natural language processing so the user can come up with the most informed response. Machine learning technology will ensure that the correct financial definitions and answers are provided on each query.

By having such information and support, young people will be able to maintain resiliency during economic downturns, safeguard confidence in financial decision-making, boost personal savings beyond what they ever imagined, and support local banks, jobs and overall national prosperity. Additionally, this kind of financial literacy will be available to everyone, including young men and women, families, small and medium-sized enterprise owners, and entrepreneurs.

Antlia blockchain will be used for crowdsourcing modules, and an AI-based chatbot will provide query support and real-time responses within the platform for all users,” said Mohammad Alqarni, CEO of Trusted Chain, adding, “Antlia blockchain is a scalable and interoperable blockchain which will help financial literacy platforms interact with different currencies by Antlia oracle pools. Lastly, the platform includes a detailed learning tracking system that will guide the user through setting up goals, enrolling in courses, and advancing in their own personal financial literacy.”

Having been active in Asia for many years on national and international scales, RNS Solutions’ Middle East and North Africa (MENA) partnership with Trusted Chain will create rapid economic growth in the greater MENA region. Related to blockchain and software, the partnership with RNS Solutions will put Asia and MENA on the map as the forerunners in the blockchain development game.

The highly anticipated financial literacy software development platform is poised to change how individuals around the world access, process and leverage financial education seamlessly.

For more information, visit www.rnssol.com.