An AI by the name of Amanada is the proverbial “woman” behind the power of a blockchain-based lending platform called Moneytoken. The AI helps facilitate lending between two entities on the Moneytoken blockchain.
|Amanda, The Money Token AI Assistant Will Provide Blockchain Backed Loans to the Crypto Community.|
Behind MoneyToken is Amanda. Amanda is an Artificial Intelligence Assistant which provides automated loan operation, registration and approval on the platform. She will walk borrowers through the entire loan process from application to repayment check-ups and will ensure they are alerted if any margin calls were to arise. She will also be able to consult with users on the platform, help during the token generation event and update registered users of any news or pertinent information. In addition to that, Amanda will showcase the functionality of the platform before its official launch.
Speaking about Amanda and the potential that this technology brings to the market, co-founder of MoneyToken Jerome MacGilivray had this to say:
“Amanda is the start of an amazing fusion of today’s technology — Blockchain meets AI. We are totally thrilled by what we have going on here; MoneyToken is building an ecosystem, not only to provide much-needed loan services, but also to create a platform that can take the crypto community to the next level. ”
In order to participate in the decentralized decision-making system in the platform, you need to hold Initial Money Token (IMT), which is the utility token for MoneyToken. Also, holding IMT will allow you to be a lender and you will get a 60% discount on platform fees for Customer Membership.
In addition to MoneyToken being a crypto-backed loan platform, it also offers a decentralized exchange service and a usable stablecoin (MTC), which is convenient if a user wants to use their credit within the crypto market. As you can see, it is a complete ecosystem and not just a platform with a single use.
This is what Moneytoken is, from its own website:
The MoneyToken platform allows you to borrow liquid funds instantly, based on the current value of your cryptocurrency asset holdings. You take out a loan, collateralized with more volatile assets such as Bitcoin or Ethereum – and in return you receive an agreed loan amount in a stable currency.
The marriage of blockchain and AI create a lot of liberating possibilities, such as we’re seeing here with Moneytoken. In this iteration of this marriage of AI and Blockchain, Moneytoken is showing the way for how people may, more and more, go outside the established and accepted financial systems to get needed capital. While Moneytoken may be the first such example, other more anonymous lending services might soon be waiting in the wings to follow.