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Digital Currency System for Merchants and the Global Poor

Stan Stalnaker of Hub Culture Services Ltd. in the United Kingdom will provide the global poor, merchants and partner NGOs with easy access to digital currency for making and receiving payments or distributing aid, with no transaction costs using mobile phones. The digital currency can be exchanged for a local currency for a fee using a Gateway Broker, who can be any merchant, NGO or bank. They will develop a new open-source set of APIs (application programming interface), and simple consumer and merchant interfaces using mostly icons so that people can easily register and transfer payments.

More information about Enable Merchant Acceptance of Mobile Money Payments (Round 15)

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The Bill & Melinda Gates Foundation is part of the Grand Challenges partnership network. Visit grandchallenges.org to view the map of awarded grants across this network and grant opportunities from partners.