2 years ago, the CEO of Ripple met with the Special Assistant to President Donald Trump on two different occasions. As the image illustrates below Brad Garlinghouse met with Caroline Moore on:
September 20th 2018
October 3rd 2018
Caroline E. Moore serves as the Special Assistant to the President and Director of the Office of the Chief of Staff. What is the role of “The Special Assistant to the President” – a role that combines administrative duties with representational duties. He/she will attend meetings with and on behalf of the President as well as be involved in all aspects of the operations of Devex. This role will require close coordination with the entire executive leadership of Devex and team members in all of our international offices.
You don’t have to know everything about international development – think names like the World Bank, United Nations, USAID, CARE, and The Gates Foundation – but a passion to learn is an absolute must.
Why would the CEO of a fintech firm be asked to come to the white house to discuss Internationale developments?
It is no secret that the world Bank has praised Ripple and their efforts. The World Bank heaped praises on distributed ledgers, in particular, Ripple and called Ripple’s xRapid as “potentially transformational technology.” Marco Nicoli, the World Bank’s senior financial sector specialist, wrote a report saying:
These shortcomings make the cross-border payment industry ripe for disruption and innovation. Some see distributed ledger technologies (DLT) as having the potential to drive industry-wide change. Indeed, B2B cross-border payments, traditionally characterized by fragmentation and opacity, are a potential use case for the successful implementation of DLT…
Using DLT solutions could also bring down compliance costs and improve the transparency and traceability of transfers. This could help ease the impact of the de-risking phenomenon that has affected the remittance services industry over the past few years. Increasing the transparency of transactions could increase the confidence of the banking sector in the remittances industry. Further, DLT solutions could potentially by-pass the de-risking issue altogether, by enabling remittance service providers to operate without the need for a correspondent banking relationship.
We also know that Ripple teamed up with the Gates Foundation back in 2017. Taken from a Ripple Insights article:
However, a new collaboration supported by the Bill & Melinda Gates Foundation will change that. Ripple, in partnership with Dwolla, ModusBox, Software Group and Crosslake Technologies, with funding and support from the Gates Foundation, developed a new open-source software called Mojaloop for creating a real-time, interoperable payments platform on a national scale to reach the world’s poor with essential financial tools.
A New Interoperable System to Bring the Poor into the Global Economy
Leveraging the power of the Interledger Protocol (ILP), Mojaloop offers a way for financial providers, governments and mobile network operators to simplify and reduce the cost of developing inclusive payments platforms.
Mojaloop can be used to connect customers, merchants, banks, providers and government offices across a country’s economy — accelerating progress toward a truly inclusive economy.
The new software is a boon for the 90 percent of the world’s poor that don’t have bank accounts and are covered by different mobile signals.
In 2018, Brad Garlinghouse met with Caroline Moore, Special Assistant president Trump, at The White House twice (September and October 2018)
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— Steven Bull Diep (@DiepSanh) August 23, 2020