Blockchain
E Money Network Launches $2 Million RWA Grant Program To Spearhead RWA Ecosystem
![e-money-network-launches-$2-million-rwa-grant-program-to-spearhead-rwa-ecosystem](https://theblockchainexaminer.com/wp-content/uploads/2024/07/51572-e-money-network-launches-2-million-rwa-grant-program-to-spearhead-rwa-ecosystem.png)
E Money Network, a layer one blockchain, serves as a foundational network for developing Real-World Asset (RWA) projects. It provides a comprehensive suite of tools and features that facilitate the creation of compliant, interoperable, and innovative applications.
Key Features and Modules
Developer-Friendly SDK: E Money Network offers a Software Development Kit (SDK) that allows developers to create customized features for their applications.
Ready-Made Modules: The network includes several pre-built modules that can be directly integrated into applications, such as:
- KYC Verified Onboarding
- Banking
- Staking
- Governance
Interoperability with IBC: The E Money Network supports Inter-Blockchain Communication (IBC), enabling applications to interact with other IBC-compatible blockchains seamlessly.
Built-In Compliance: E Money Network comes with built-in compliance modules, including KYC (Know Your Customer), KYB (Know Your Business), and KYT (Know Your Transaction). These modules ensure that every entity and transaction is compliant with the upcoming Markets in Crypto Assets (MiCA) regulations by default.
Grant Program: #BUIDLonEMN Initiative
To foster innovation and development within the RWA ecosystem, E Money Network has launched a grant program under its #BUIDLonEMN initiative. The program aims to support developer teams with disruptive RWA-centric ideas by providing financial resources and support.
Objectives
The grant program seeks to:
- Encourage the development of RWA applications on the E Money Network.
- Shape the network’s trajectory and advance the wider RWA ecosystem.
- Provide initial capital to eligible projects from a $2 million grant pool.
Evaluation Criteria
Applications will be reviewed by a selection committee composed of technology experts, marketing professionals, and experienced community members. The criteria for evaluation include:
- Project Objective and Scope
- Anticipated Impact
- Milestones and KPIs: Each proposal must include at least three measurable milestones such as user growth, Total Value Locked (TVL) increase, and transaction volume.
- Budget
- Team Details: Roles, responsibilities, and prior experience of each team member.
- Product Roadmap
Projects can win grants ranging from $5,000 to $50,000 based on their requirements and scale. Additionally, winners will receive mentorship, legal and compliance support, marketing and growth assistance, and networking opportunities.
Source: dailyhodl.com
The post E Money Network Launches $2 Million RWA Grant Program To Spearhead RWA Ecosystem appeared first on HIPTHER Alerts.
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Blockchain
Fintech Needs to Adopt Advanced AI/ML-Powered Models
![fintech-needs-to-adopt-advanced-ai/ml-powered-models](https://theblockchainexaminer.com/wp-content/uploads/2024/07/51607-fintech-needs-to-adopt-advanced-ai-ml-powered-models.jpg)
The fintech industry is at the forefront of technological innovation, with artificial intelligence (AI) and machine learning (ML) playing a pivotal role in driving this transformation. To remain competitive and meet the evolving demands of consumers, fintech companies must adopt advanced AI/ML-powered models.
The Role of AI/ML in Fintech
AI and ML technologies have the potential to revolutionize various aspects of fintech operations, including:
- Fraud Detection: AI/ML models can analyze vast amounts of transaction data in real-time to identify and prevent fraudulent activities.
- Customer Service: AI-powered chatbots and virtual assistants can provide personalized customer service, improving customer satisfaction and reducing operational costs.
- Risk Management: ML algorithms can assess and predict risks more accurately, enabling better decision-making and risk mitigation.
- Credit Scoring: AI/ML models can analyze alternative data sources to assess creditworthiness, providing more accurate and inclusive credit scoring.
Benefits of Advanced AI/ML Models
Adopting advanced AI/ML models offers several benefits for fintech companies:
- Improved Efficiency: Automating routine tasks and processes can significantly improve operational efficiency and reduce costs.
- Enhanced Accuracy: AI/ML models can analyze data with greater accuracy and speed, leading to more informed decision-making.
- Personalized Services: AI-powered solutions can provide personalized services and recommendations, enhancing the customer experience.
- Scalability: AI/ML models can scale easily to handle increasing volumes of data and transactions, supporting business growth.
Challenges and Considerations
Implementing advanced AI/ML models also presents challenges, including:
- Data Quality: Ensuring the availability of high-quality data is crucial for the effectiveness of AI/ML models.
- Regulatory Compliance: Navigating regulatory requirements and ensuring compliance with data privacy and security standards is essential.
- Integration: Integrating AI/ML models with existing systems and processes can be complex and resource-intensive.
- Talent and Expertise: Accessing skilled talent and expertise in AI/ML is critical for successful implementation and management.
Conclusion
The adoption of advanced AI/ML-powered models is essential for fintech companies to stay competitive and meet the evolving needs of consumers. By leveraging the power of AI/ML, fintech companies can enhance efficiency, improve accuracy, and provide personalized services, driving innovation and growth in the industry.
Source of the news: New Indian Express
The post Fintech Needs to Adopt Advanced AI/ML-Powered Models appeared first on HIPTHER Alerts.
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