The Gates foundation has launched Mojaloop, an open source Blockchain powered payment system.
Mojaloop is open-source software for creating interoperable payments platforms that connect all digital financial providers and customers and help unbanked people around the world access digital financial services. Named after the Swahili word for “one,” it can help loop providers and customers together in one inclusive system.
HOW Mojaloop WORKS
Mojaloop provides a blueprint for bridging all the financial products and applications in use in any given market.
For example, a Ugandan woman named Grace has a mobile money account—but her employer and her daughter’s school have accounts with different financial providers. A platform powered by Mojaloop can tie them all together, so Grace can receive her paycheck and pay her daughter’s school fees, instantly and securely.
More details / GitHub link.
