The world’s is partnering with a blockchain startup as part of its ongoing effort to bring banking services to underserved regions worldwide.
The Bill and Melinda Gates Foundation will team with Coil to provide payment services in areas where banking resources are scarce, the organization’s deputy director and principle technologist, Miller Abel, tweeted Oct. 17.
— Miller Abel (@MillerAbel_) October 17, 2018
Coil’s Interledger protocol enables payments enables organizations and individuals to send payments via different crypto networks. Former Ripple CTO and Coil co-founder Stefan Thomas co-developed the technology.
Over the past three years, the Gates Foundation has shown its interest in blockchain on a number of occasions. Last October, it announced a to release an open-source software, Majaloop, which is also focused on the unbanked. The Majaloop platform connects users into the same payment system, enabling them to execute transactions in users’ native currency more easily. Read more