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Ripple to do it today at KNOMAD

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Ripple is working closely with MoneyGram and Western Union to eliminate the maximum possible friction from international remittances for customers. Stellar Lumens is doing the same, except they are working with European remittance services. This ancient service, when powered with blockchain technology, becomes at the forefront. Transactions are completed in minutes for a tiny fraction of the previous cost and are extremely secure.

This is why the cryptosphere has attracted KNOMAD's attention. It is invited, Dilip Rao, global manager of Ripple's global infrastructure, to hold a seminar at the World Bank's main building (room 13-121 if you are interested) to discuss the way the technology of Distributed Ledger (which is what non-geeks call the blockchain) is reversing the way the money moves through the world today.

This is a great time for Ripple and for the cryptic community of the world. A prestigious humanitarian organization that has nothing to do with finance, mathematics, information technology or any of the disciplines commonly associated with blockchain technology is taking an interest in the way cryptocurrencies and block chains can make life better, cheaper, more accessible to one of the most vulnerable groups of people in the world, migrants.

It means that the world in general is finally starting to notice the inherent advantages of blockchain technology and is losing the fear it has so far had to adopt and make them work. Or, to put it another way, cryptography has finally become reputable.

The KNOMAD website defines the organization in these words:

"The Global Knowledge on Migration and Development Partnership (KNOMAD) is a global center of knowledge and expertise on migration and development policies"

It is a trust in the brain that serves global migrants all over the world. It is inclusive, open, multidisciplinary. It aims to create a knowledge partnership that policy makers can use when it comes to people crossing borders between countries. The idea is to develop a menu of policy choices based on empirical evidence, to evaluate current policies and collect data. It is all reviewed by peers.

The organization provides technical assistance but also many pilot programs. It works closely with the Global Forum on Migration and Development (GFMD) and with all the United Nations agencies dealing with migration.

It has a multi-donor trust fund set up by the World Bank, whose main contributors are the Swiss Agency for Development and Cooperation and the Federal Ministry for Cooperation and Economic Development. It is based at the World Bank, in Washington DC.

One of the problems related to migration to which KNOMAD pays great attention are the international remittances because a very significant portion of that market comes from migrant workers who need to send money to their families in their country of origin. He has sponsored many books on the subject. This is the problem in which global migration and the crypto converge.

We salute KNOMAD's interest in getting to know Ripple's technology and we also salute Ripple for his willingness to help institutions that are working hard to improve the world, albeit slowly.

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Disclaimer: this article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and its affiliated companies, employees, writers and subcontractors are cryptocurrency investors and may from time to time have holdings in some of the coins or tokens they cover. Please conduct your own in-depth research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Pixabay.

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