Chief technical Director of the bill and Melinda gates Foundation Miller Abel wrote in his Twitter about the partnership Fund and Coil on the planned deployment Mojaloop. The latter is a software open source where users can create their own payment platform. Despite the fact that the Fund has not yet confirmed the information in the tweet, this is a serious development for XRP and Ripple.
– We cooperate with the Ripple and Coil for the implementation of the Protocol Interledger and explore the possibilities of Mojaloop to support payment systems in developing countries, – said Abel in his tweet.
This is a really big development for XRP and Ripple. In its current form Coil created by stéphane Thomas, former technical Director of Ripple, is the application of micropayments, which combines the XRP Protocol and the InterLedger. According to Stephen Thomas, the use of InterLedger will make the Internet a brighter place where application developers, and content creators can be rewarded for their efforts. At the same time Mojaloop is software with open source code specifically designed for governments, regulators and financial institutions are ready to take on the challenges of compatibility and financial participation, scale and support the economy of third world countries. With Mojaloop users can send and receive XRP, along with other digital payments, regardless of the type of account you have.
Even if there is no clarification on whether Mojaloop to integrate XRP or other currencies as its purpose is to provide flexibility through interoperability, which likely alludes to the use of RippleNet as a means of access to a new region, don’t serve the dominant payment systems. This new partnership is part of an initiative of bill and Melinda gates Foundation, aimed at financial inclusion and enhancing financial services for everyone.
However, the main goal of this initiative is to create a reliable, available, valuable and affordable digital payment system for developing countries. The main goal is the development of platforms, where individuals or businesses can easily buy and sell. To access these regions and to improve interoperability, the Fund opens up opportunities for companies outside the traditional banking system that provides flexibility and nearly free transactions.
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