Ripple partners with Gates Foundation

Ripple announces its partnership with Bill & Melinda Gates Foundation
17 October 2017   1249

Bill & Melinda Gates Foundation releases new open-source software for the unbanked that utilizes technology developed by distributed ledger startup Ripple.

Thus, the new software, called Mojaloop, aims at providing an interoperability layer between financial institutions, payment providers and other firms that offer such services to the poor and unbanked. In its turn, Ripple's Interledger protocol, which is used to transact between different financial networks, is being used to help accomplish that goal.

Interoperability of digital payments has been the toughest hurdle for the financial services industry to overcome. With Mojaloop, our technology partners have finally achieved a solution that can apply to any service, and we invite banks and the payments industry to explore and test this tool. Just as the internet revolutionized digital communication, open-source solutions like Mojaloop can spark innovation and democratize access to digital payments, empowering billions of new customers and driving massive economic growth in developing markets.
 

Kosta Peric
Deputy Director, Financial Services for the Poor, at the Gates Foundation

As reported, in addition to Ripple, other financial technology firms participate in the development of the software: Dwolla, ModusBox, Crosslake Technologies and Software Group.

As we modernize and develop national and cross-border payments infrastructure in Africa, the only way to sustainably reach and serve the world’s unbanked communities is through new technologies. Our aim as an organization is to offer national payments platforms for the next generation of financial innovators and Mojaloop gives us some tantalizing new options for doing that in a way that integrates with the entire national economy.
 

Chris Hamilton
CEO of BankservAfrica

According to the company, the developers can access the new software on GitHub, the world’s leading open-source development platform. The software includes four components: an interoperability layer, which connects bank accounts, mobile money wallets, and merchants in an open loop; a directory service layer, which navigates the different methods that providers use to identify accounts on each side of a transaction; a transactions settlement layer, which makes payments instant and irrevocable; and, components which protect against fraud.

The software is not to be owned or implemented by the Gates Foundation: it will be used in the foundation’s ongoing work to promote the development of pro-poor, digital payment platforms.

Ledger Live to be Released

Ledger Live is a complex application that combines the functions of managing a hardware device and digital assets
10 July 2018   232

On Monday, July 9, the release of new software for hardware bitcoin wallets Ledger Nano S and Ledger Blue under the name Ledger Live with support for Windows, Mac and Linux operating systems.

According to the developers, Ledger Live is a complex application that combines the functions of managing a hardware device and digital assets. The new software has replaced many browser extensions based on Chromium.

Installing a new device and connecting an existing account to Ledger Live takes place as quickly as possible. Simultaneously, all crypto-currencies are now available in one account, which eliminates the need for users to use different applications for Bitcoin, Ethereum or Ripple.

It is noteworthy that the user interface provides data on the cost of all crypto assets in real time, and also displays the status of transactions.

The first version of Ledger Live does not support ERC-20 tokens, but the developers have already promised to add this option in the next releases.