Tingo (OTC: IWBB), a leading agri-fintech business in Africa, has announced that it will be working with Cudos, a decentralized cloud computing network, to tackle the poverty premium. The two companies plan to utilize mobile monetization applications to enable more than 9 million Nigerians to earn an income from their smartphones. The two companies announced their intentions at AIBC Malta, a global event unifying artificial intelligence, user interface, IoT and Quantum Tech, where thousands of policymakers and thought leaders gave the announcement a standing ovation. The companies anticipate initially reaching almost 10 million devices across the Tingo network, creating a distributed cloud for Nigerians, run by Nigerians, that pays Nigerians. Once the initial efforts have been completed in Nigeria, Tingo expects to expand across Africa and South America. “Our vision of a ‘decentralized, sustainable and connected world where no computing is wasted’ is coming to fruition with this new partnership with Tingo,” said Cudos vice president of sales Pete Hill in the press release. “As Tingo is in the process of listing its subsidiary company, Tingo Inc., 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.”
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About Tingo Inc.
Tingo is a unique agri-fintech using smartphones to deliver a marketplace that enables nearly 10 million subscribers to manage their commercial activities of growing and selling their products to market participants. The ecosystem provides a one-stop-shop solution to enable subscribers to manage everything from airtime top-ups, bill pay services for utilities and other service providers, access to insurance services and microfinance to support their value chain from seed to sale. The company has two innovative platforms — Nwassa, Africa’s first digital agriculture ecosystem, and Tingo Pay, a mobile payment gateway. Tingo International Holdings is a majority shareholder in Tingo Inc., which owns 100% of Tingo Mobile PLC in Nigeria. The company has recently agreed to acquire Coinfield, a leading European crypto exchange that operates in 198 countries. For more information, visit the company’s website at www.TingoGroup.com.
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