SingularityNET and HAQQ to Bring AI to Islamic Finance

Iain
SingularityNET
Published in
4 min readAug 31, 2023

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SingularityNET, a decentralized AI platform, and HAQQ, an ethics-first layer one blockchain platform, have partnered to bring AI to Islamic finance. The collaboration will integrate SingularityNET’s industry-leading AI with HAQQ.Network, using AI to ensure compliance in transactions with an ethical layer, as well as providing tools and funding for developers building blockchain-based applications.

The SingularityNET Marketplace and HAQQ’s Oracle will be harnessed, enabling simple access to a variety of AI services for both developers and users of the platforms. The partners will also work together to create a multi-level approval community process that is precisely aligned with ethical governance pre-approval and HAQQ board approval. Furthermore, HAQQ and SingularityNET will work on the development of a Reputation Framework for AI Agents in line with ethical frameworks.

Mohammed AlKaff AlHashmi, CEO of Islamic Coin (HAQQ’s native token), said: “It is a great opportunity for us to connect AI and Islamic finance, as we accelerate the adoption of Islamic Coin, bringing ethics-powered change all over the world. AI provides incredible opportunities for processing that are vital for financial services and we look forward to working with SingularityNET on solving these challenges.

The partners will also design an educational framework covering AI and large language models (LLM) for builders of blockchain-based applications, or dApps. This will equip dApp builders with the latest industry knowledge and best practices, as well as the foundations for the development and deployment of ethical AI applications.

The educational framework will be accompanied by community-focused voting processes that will assist DApp developers by supporting them with relevant grant programs. The DEEP Funding framework of SingularityNET and the Ecosystem Fund of HAQQ.NETWORK will provide the resources and assistance that developers will need to promote innovation in the AI industry.

These are unprecedentedly exciting times for AI,” added SingularityNET CEO Dr. Ben Goertzel, “and one of the critical things we need to get right to guide the AI revolution in a beneficial direction is diversity and decentralization of the creation, application and control of AI systems. There are 1.8 billion Islamic people on the planet, and taking concrete steps to connect SingularityNET’s decentralized AI initiatives with the needs and insights of the Islamic community is one of the more powerful things we can do to work toward our goal of beneficial AGI. The partnership between SingularityNET and HAQQ has potential to open many opportunities along these lines.

Andrey Kuznetsov, CTO of HAQQ Network, concluded: “We at HAQQ have been pioneering innovations to reinforce an ethical and decentralised ecosystem for all. This partnership further bolsters our HAQQOracle and our commitment to be on the frontiers of innovation for our community and other players.”

About HAQQ.Network

HAQQ is an ethics-first L1 blockchain that brings together sustainability-centered developers, validators, open-source contributors, and Muslim innovators in sustainable finance with its native asset — Islamic Coin. As an EVM-equivalent chain built using the Cosmos SDK, HAQQ’s innovative technology allows for the seamless deployment of smart contracts from other EVM chains. HAQQ aims to create a fairer, more sustainable financial system by balancing Ethical-compliant philosophy with cutting-edge technology using Oracle — an on-chain registry of Special Certificates which assures compliance with Islamic principles. HAQQ ensures that its users interact exclusively with whitelisted Ethical-compliant dApps, minimising unethical activity within the network.

Learn more about HAQQ at haqq.network.

About SingularityNET

SingularityNET was founded by Dr. Ben Goertzel with the mission of creating a decentralized Artificial General Intelligence (AGI), that is open for anyone, and not restricted to the narrow goals of a single corporation or even a single country.

SingularityNET is the world’s leading decentralized AI Platform and hosts a fully-fledged AI ecosystem with a rich community all working toward the global distribution of AI. It is the first and only decentralized platform that will allow AIs to cooperate and coordinate at scale, while enabling anyone to assemble custom AI processes from a global network of AI algorithms, services, and agents.

Learn more: https://singularitynet.io/

Extra information on the partnership

The development of a robust and active community is a priority for both SingularityNET and HAQQ.Network. For the purpose of promoting decentralized AI adoption and raising public awareness of the advantages of fostering more responsible AI development practices, the partnership will also involve joint marketing initiatives, social media campaigns, and cooperative activities.

SingularityNET and HAQQ.Network will actively engage in routine coordination and communication as the collaboration progresses to ensure their success in their shared vision to promote better, more ethical practices when it comes to developing AI.

To promote trust and confidence in the decentralized AI landscape, the partners are united in their commitment to uphold the highest standards of integrity, compliance, and transparency with their individual communities.

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