The Bill Gates Foundation Partners With Ripple & Coil To Support The Poor

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  • Ripple technology partnered with the Bill Gates Foundation a few months ago to help the unbanked population of the world through a project called Mojaloop

 

  • Further to that, Miller Abel, Deputy Director and Principal Technologist of the Bill and Melinda Gates Foundation recently tweeted that the foundation will be partnering with Ripple and Coil ”to implement the Interledger Protocol & explore ways Mojaloop can support pro-poor payment systems”

 

  • Abel confirmed Mojaloop will not be using XRP token, & will be using the technology to help settle payments between customers of different mobile money services 

 

  • Abel expanded on the reasoning of the partnership via twitter stating that ”Payments are in national currency of the given country, so that the system helps include and integrate the people (usually poor) who have historically been left out’. 90% of the world’s poor are covered by a mobile signal. Even a simple mobile phone can be a financial endpoint. How can open-source help take advantage of digital/mobile finance? The financial services industry has traditionally focused on the rich and middle class. The most disruptive thing we can do now is include all people in the same financial loop.”

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