Gates Foundation Funds African Bitcoin Initiative for the Poor

bill gatesA block chain technology company located in Ghana and Kenya, Bitsoko, has won a $100 000 grant from the Bill and Melinda Gates Foundation initiative Financial Services for the Poor.

From their website, Bitsoko appears to be a bitcoin wallet and merchant services provider for the African market. Utilizing Bitcoin in places where currencies have seen extreme inflation is not the worst idea.

Also read: Liberating Northern Ghana on the Block Chain: Model for Africa?

The award is being funded through the Grand Challenges Exploration, an initiative of the Foundation that this year was focused on financial services for the poor. Bitsoko rose above all the others in that it was providing next-level technology to a market that has no reason not to jump directly into it.

CCN will follow Bitsoko’s progress as time goes on.

Images from Shutterstock.

Read more ... source: CryptoCoinsNews

  • wonky tonky

    100k lol nice it happens but realy. thats like less then 1/1000 of bill gates getting up in the morning value..