Mojaloop: the Blockchain payment application funded by the "Bill & Melinda Gates" foundation

The Bill and Melinda Gates Foundation is a US humanitarian philanthropic foundation established in January 2000 with US $ 43.5 billion in 2015. It announced on its website to be the initiative of an open-source software named "Mojaloop" developed on the protocol "Interledger" of Ripple. This payment service application is intended for the African market.

Africa has the lowest savings rate in the world. According to the World Bank, this would be a very important factor explaining poverty in the world. Anyone who has already taken an interest in the problems of saving in Africa knows the "orange money" allowed by the M-Pesa application. The latter is a system that manages an account - withdraw money and transfer it - from its mobile or an M-Pesa interface. It is not, however, a banking service, but a system of purchase / sale of telephone credit. This system faced two major problems:

The fees are exorbitant: from 66% to 0.16% - according to Wikipedia - the fees of 0.16% only concerning transfers of a minimum of $ 765, a very large amount, especially in Africa;
M-Pesa is not interoperable: transfers can only be made between M-Pesa or authorized customers.

Sources : Forbes ; Ripple ; GatesFoundation ; Coindesk