Ripple’s Interledger Protocol [ILP] has found use by the Mojaloop software which has been released by The Bill & Melinda Gates Foundation.
The development by the foundation has been done with the target to help level the economic playing field for the 2 billion people who are trapped in poverty, many of whom solely because they do not have access to a bank account or other basic financial services.
Enabling the poor to make payments to anyone, anywhere, using a mobile wallet has implications beyond increased access to their domestic economies. It has the potential to bring millions into the fold of the global digital economy. We are honored to have been a part of this project.
Kosta Peric, Gates Foundation deputy director of financial services for the poor, explained in a statement that interoperability has been one of the primary obstacles preventing the poor from using digital wallets to access basic financial services.