Cudos and Tingo have announced their intention to empower over 9 million Nigerians through earning with their smartphones. This was revealed after the announcement was made by Cudos at the AIBC summit.
The summit was held at AIBC Malta, aimed at unifying some leaders, policymakers, and also the likes of Quantum Tech, Ai, IoT, and Oi.
Nigeria is currently the second-largest Bitcoin market in the world after the US. The partnership will enable Nigerians to benefit from the creation of a distributable cloud, that would be run by Nigerians and pay Nigerians.
The partnership will support farmers in rural Nigeria by giving them single-digit loans rather than the typical microfinance double-digit loans interest via the alliance with DeFi partners MELD; farmers would be able to earn with their smartphones. More so, become a platform for Nigerian institutes and universities, benefiting those in rural areas with earnings and slowing the rapid migration into cities.
According to the VP of Sales at Cudos “the vision of a ‘decentralized, sustainable and connected world where no computing is wasted” is coming to fruition with this new partnership with Tingo.’
“Tingo Inc (OTCQB: IWBB), on the New York Stock Exchange, it is refreshing to share the same ethos of creating technology and business models for the betterment of communities. Positive social impact is the driver behind this deal, providing financial security to millions of users initially.
As a partnership, we will build on this, expanding to other regions creating a circular economy of financial inclusion, security, and democratized cloud resources. Close to 10 million users able to earn and spend CUDOS is also essential for the growth of our network”
Cudo also intends to expand to other Africa countries and also South America where there is a huge amount of underprivileged people. That’s after they are done with Nigeria.