RNS Solutions & Trustedchain are Developing Blockchain Based FinLit Platform for Islamic Development Bank

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RNS Solutions Pte Ltd., the leading blockchain software development company from Pakistan, Korea, and Singapore this week announced a formidable partnership with the ICD-Islamic Development Bank Group, a multilateral development bank that promotes social and economic development in member countries, and Trustedchain software development & consultancy firm in Saudi Arabia.

As part of the partnership, the consortium (RNS Solutions & Trustedchain) will be developing a blockchain and AI-based financial literacy (FinLit) 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 chatbot support systems.

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

Dr. Shakil Muhammad, Chairman of RNS Solutions, said:

“Our youth often end up out of college, in the real world, with no idea how to leverage their current income into sustainable and generational wealth. FinLit will provide various modules from financial learning by hackathons, webinars, and tracking, to project exhibition. 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. Via Natural Language Processing (NLP), the chatbot is able to provide context, answers, and information 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 providing this kind of information and support to young people, they 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 from young men and women, to families, SME owners, and entrepreneurs.

Dr. Mohammad Alqarni, CEO Trustedchain, said:

“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. Antlia blockchain is a scalable and interoperable blockchain, which will help FinLit platforms to 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 MENA partnership with Trustedchain 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 FinLit software development platform is poised to change how individuals around the world access, process, and leverage financial education, seamlessly.

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