Gates Foundation Funds African Bitcoin Initiative for the Poor

Journalist:
July 15, 2015

A 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.

Images from Shutterstock.

Last modified (UTC): July 15, 2015 16:19

P. H. Madore @bitillionaire

P. H. Madore has written for CCN since 2014. Please send breaking news tips or requests for investigation to bitillionaire+phm@gmail.com. He lives in Maine, USA. A single father of four young children, he does not discourage financial donations, provided they do not come with strings attached.