RNS Solutions Private Limited, a leading blockchain software development firm from Pakistan, Korea, and Singapore, recently announced a partnership with Saudi-based firm, Trustedchain, for the development of a financial literacy (FinLit) platform, based on artificial intelligence (AI) and blockchain technology, for the Islamic Development Bank (ICD).

The platform will feature an interactive financial learning management system with AI-capable chatbot support systems. With the new platform, users will be able to engage in a variety of discussions, using the AI-based chatbot. In principle, the chatbot will provide context, answers, and related information for an optimal learning experience.

Based on the idea of “providing financial education and information to younger generations”, the FinLit platform is an all-in-one package that helps understand complex financial and investment terms and related stuff.

To paint a picture, Dr. Shakil Muhammad, Chairman RNS Solutions, explained that the platform “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”.

Similarly, Dr. Mohammad Alqarni, CEO Trustedchain, explained that the new platform “includes a detailed learning tracking system that will guide the user through setting up goals, enrolling in courses, and advancing in their own financial literacy”.

The much sought-after FinLit platform is expected to change how people around the world should show resilience in the face of financial adversities that may befall them in the future.

For what it’s worth, the new platform aims to educate the young generation about financial decision-making, how to boost personal savings, and to be flexible in the face of unprecedented economic downturns.