Connect with us

Don't Miss

Foundation of Bill Gates and Ripple (XRP) stand together for unbanked

Published

on

Ripple
READ LATER - DOWNLOAD THIS POST AS PDF

Ever since the inception of Ripple in the crypto market, it has been doing exceptionally well. Ripple (XRP) has created great projects that stand to benefit not just the crypto market alone, but the world at large. Within a short period, Ripple has stamped its position as one of the biggest cryptocurrencies in the world, and every day, it is bagging lots of partnerships in the Fintech industry. Late last year (2017), it bagged a mega-partnership with the Bill and Melinda Gates Foundation.

Ripple’s Partnership with the Gates Foundation

The Gates Foundation is an organization that is poised to improve the standard of people in developing countries.

In the quest to improve the standard of living of people and the economy of developing countries around the world, the Gates Foundation partnered with Ripple to release an open-source blockchain software called Mojaloop for the unbanked people on October 16th, 2017.

According to the world bank, there are 2 billion people in the world who don’t have access to bank accounts. Due to the rate of unbanked people in the world, the Gates Foundation decided to use Ripple’s blockchain technology to create Mojaloop – a software that aims to establish an interoperability layer between payment providers and financial companies for the unbanked people.

Furthermore, the interledger protocol was produced by Ripple, and it is used for transactions between institutions that offer financial services. It is necessary to know that Mojaloop is a result of Ripple’s Level One Project.

For two years, the Gates foundation noted the use of this technology – particularly its ability to bridge the disengaged systems of finance.

The Foundation’s Deputy Director of Financial Services said,

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.” 

With Monjaloop, anyone can transfer funds to accounts, and not just for people who are banking with a precise financial institution. To foster the growth of an economy, Monjaloop can be used to connect with banking institutions, customers, bank merchants, and so on. This interconnection will also enable easy transactions between different people in a particular economy.

Additionally, Monjaloop is free to use, and the Foundation, including Ripple, is encouraging developers to make use of the software to enhance the adaptation of services.

With the financial support from the Gates Foundation, ModusBox, Software Group, and Crosslake Technologies collaborated with Ripple to develop Monjaloop.

How does this partnership benefit Ripple?

Ripple’s partnership with the Gates Foundation is excellent not only for it alone, but for other blockchain startups in the crypto market as well. The Gates Foundation is a reputable organization that solves global problems. The Gates family owns the Foundation, and it can take blockchain apps to the next level.

At the time of writing this article, Ripple is priced at $0.48300 after it rose by 5.48% in the last 24 hours. Ripple (XRP) is a futuristic company, and more of these partnerships will put Ripple and other cryptocurrencies into the mainstream. Good for all, great for Ripple!

For the latest cryptocurrency news, join our Telegram!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Wikipedia Commons

Don't Miss

How Cryptocurrencies Will Change Online Gambling in the Future

Published

on

online gambling
READ LATER - DOWNLOAD THIS POST AS PDF

Anyone who has followed online gambling since the beginning can tell you that things don’t stay the same for long. One of the reasons for this is that technology improves at such a ridiculously fast pace, and innovators in this industry are able to match up with those technological changes pretty quickly.

An innovation in technology that the Internet gambling industry has really learned from is cryptocurrency, with bitcoin in particular leading the way. We’ve seen it emerge as an alternative banking method, but it’s going to change the industry as a whole in ways that people can’t quite understand yet.

A Post-Legality Era

Something that has eluded online gambling since its inception is the idea of a global governing body. As it stands right now, each individual country (and smaller units of jurisdiction) have their own governing bodies that oversee in the industry. A lot of these laws are tied to banking laws, and that’s where the legality of playing in bitcoin casinos becomes such an interesting topic.

In the present, we’re seeing country-based regulatory bodies from places like Malta, Gibraltar and the United Kingdom start to work together and recognize each other’s licenses more and more. That’s taking serious steps towards having a global governing entity, and once that happens, the role of bitcoin is going to be even larger than it is now because it’ll…

Continue Reading

Don't Miss

VOLUM (VLM) Announces Commencement of Token Generation Event

Published

on

READ LATER - DOWNLOAD THIS POST AS PDF

ESTONIA, May 4, 2019 – VOLUM (the “Company”), a multi-dimensional blockchain technology holding company, is thrilled to announce the commencement of the Volum (VLM) Token Generation Event (“TGE”) beginning on Saturday, May 4. The VLM utility token is the native cryptocurrency powering the VOLUM supply chain and logistics management platform.

Driven by algorithmically intelligent software tailored to logistics and supply chain management, along with Internet-of-Things (“IoT”) integrated functionality, and a backbone of hybrid public and consortium blockchain architecture, the platform is organized around the Volum (VLM) token. The VOLUM TGE will be managed by deploying ERC20 tokens on Ethereum Mainnet to maximize future access to cryptocurrency exchanges.

The VOLUM platform operates as a comprehensive control center for supply chain and logistics management operations. Companies who use this platform will be able to carry out a wide range of blockchain transactions including: Payments, Rewards, Purchase Orders, Legal Contracts, Regulatory Compliance, Taxation, Shipment Management, Letters of Origin, Customs Documents, Inputs/Outputs and Inventory Ordering, Delivery/Parcel Tracking, IoT Monitoring and Reporting, Big Data Analytics, and Inputs and End-Product Tracking/Traceability.

“The total addressable market for a blockchain-based supply chain solution is nearly $54 trillion globally, with the majority of the world’s workers playing some part of this equation” noted Arnaldo A. Detrés, CEO of Bengala Technologies, LLC, the principle blockchain developer working to build the VOLUM platform. “However, blockchain solutions have been unable to…

Continue Reading

Don't Miss

How to Secure Yourself in Relation to Bitcoin: Top VPN Services

Published

on

Bitcoin
READ LATER - DOWNLOAD THIS POST AS PDF

Nowadays, more frequently people opt to use cryptocurrency such as Bitcoin while dealing with financial transactions for its convenience, so its increasing prevalence isn’t round-of-the-mill phenomenon but still, its users need to create fully protected cooltechzone to secure their data.

Recently, a great abundance of VPNs have started to accept it as a way of payment and it definitely makes sense: one buys VPN to retain anonymity on the Web, so why not to use the privacy-focused payment method? Paying for a VPN service with Bitcoins or any other cryptocurrency secures personal data from curious eyes leaving no traces.

What is a VPN?

Virtual Private Network (VPN) is generally presented by the group of linked to each other computers via the Internet. VPN boosts protection and provides a high level of anonymity to all types of Internet connections.

Security

While the connection to the ordinary Wi-Fi networks, a user usually gets access to the Internet directly, thus he becomes vulnerable to the hackers and the malware attempting to steal his personal data. On the other hand, applying VPN one transmits and gets data in encrypted form which makes it protected.

Anonymity

Generally, isn’t hard to trace an Ip-address of any user and to identify his location with sufficient accuracy. With the help of VPN, the attacker will only get the address of the removed computer. Undoubtedly, the safeguard…

Continue Reading

Elite