New partnerships for Ripple: ‘Serve the unbanked worldwide’

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The Ripple network already includes over a hundred members and is growing and thriving. This week, the other heavy-weights in the industry have announced that in the future the block chain technology of Ripple benefit to help people who have no access to financial services.

The Vice-Director and head of the technology Department at the Bill and Melinda Gates Foundation, Miller Abel, announced via Twitter his fan base with that Foundation, Ripple as well as Coil to cooperate.

The aim of the collaboration is to explore ways to allow people in regions which are cut off from banks broadly, access to financial services. In particular, the adaptation of new technologies, such as Mojaloop is in the foreground.

We are partnering w/ @ripple and @the coil, it is to implement the #of inter-Ledger Protocol & explore ways #Mojaloop can support pro-poor payment systems. #github universe

Miller Abel (@MillerAbel_) 17. October 2018

Mojaloop is an Open Source Software that was specially developed for financial institutions, in order to give people a method, with the help of digital payments can be sent. It is completely taken no matter what banking service.

The use of Ripple’s native crypto-currency XRP, as well as the Monet Aria tion skills of the Coil’s Webintetrationsapplikation to create opportunities, make money fast and easy-to-gerinegn costs in all parts of the world sent.

Furthermore, the platforms, Nexo and Omni have angekündgit also the interoperability for XRP. Nexo is XRP as a security to accept while Omni XRP allowed to pay use rent things.

The Gates Foundation, as well as Ripple are pursuing similar goals (freely translated):

The most important prerequisite for the development of new, for the poor-paid payment systems, the interoperability is the ability of customers to Transact with any other customer’s transactions, regardless of whether they use the same service provider or not. This type of Open-Loop System reduces the cost and complexity of digital financial services and payment platforms significantly. The Opening up of the payment infrastructure for new types of businesses outside of the traditional banking organizations can accelerate the development of these systems.

These efforts are by far not the only case, because, among other things, the popular crypto-stock exchange Binance in some countries, built this world with an infrastructure to help people in poor regions.

Binance, for example, in Uganda, started to create new jobs to the local people to help and access to financial services to give. We are curious to see how quickly the projects in this area proceed.

The price of Ripple shows no reaction on these news and recorded within the last 24 hours, a decline of 3.76 per cent to a price of EUR 0.39.

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