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Gates Foundation to incorporate Ripple's Interledger protocol, partners with Coil

19 Oct, 2018
by Richard Allen
News
Gates Foundation to incorporate Ripple's Interledger protocol, partners with Coil

The Bill and Melinda Gates Foundation has officially extended its partnership with Ripple, using the Interledger Protocol to send funds to underdeveloped regions of the world, as reported by CoinInsider.

The Gates Foundation’s deputy director Miller Abel announced the news on Twitter:

The Foundation has now built on top of the existing partnership with Ripple and included blockchain startup Coil to support “pro-poor payments.”

The Foundation has been using Ripple’s technology following a partnership almost a year ago. Together, they released an open source software called Mojaloop, based on the Ripple Interledger, to help bring access financial services to the unbanked.

Ripple’s chief technology officer Stefan Thomas commented at the time that “…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.”

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