Towards Blockchain Services For Mobile Money Traceability And Federation

Abstract

This paper discusses a new approach to mobile money, a money transfer solution via mobile phone, which uses accounts associated with SIM (Subscriber Identity Module) identifiers, and which are managed by the Mobile Network Operators (MNOs). The first solution launched in Kenya in 2007, M-PESA is one of the world major mobile money services. Mobile money becomes the new monopoly of MMOs in an economic system where the rate of unbanked adults is very high. Currently in 2019 Orange Money makes nearly 1.5 million transactions per day, which corresponds to a monetary value of nearly 15 billion CFA francs per day. The USSD is the technology at the heart of the Mobile-money transactions. Blockchain, which is the underlying technology of the first crypto currency Bitcoin, has drawn a lot of global attention in recent years. Blockchain does not stop seeing its field of action widen. The field of action of the Blockchain has not yet completed its enlargement. The rate of unbanked is still very high in developing countries; this rate is a factor that does not favor the emergence of the economy. It is necessary to count on the mobile money to skip this obstacle (according to the World Bank) we make here the state of the art on the mobile money and its underlying technologies in the sub-Saharan countries and in Burkina-Faso. We propose a mobile-money solution based on the Blockchain, in order to increase security, trust, and move towards a federation of mobile-money platforms.