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Celo

Celo

Celo is an open platform that offers financial tools to mobile phone users.

OverviewStructured DataIssuesContributors

Contents

celo.org
Is a
Company
Company
Organization
Organization
Cryptocurrency
Cryptocurrency

Company attributes

Industry
Finance
Finance
Technology
Technology
Financial technology
Financial technology
Payment
Payment
Cryptocurrency
Cryptocurrency
Web3
Web3
Decentralized Finance
Decentralized Finance
...
Location
United States
United States
B2X
B2B
B2B
Marketplace
Marketplace
CEO
Rene Reinsberg
Rene Reinsberg
0
Founder
Rene Reinsberg
Rene Reinsberg
0
Sepandar Kamvar
Sepandar Kamvar
0
Marek Olszewski
Marek Olszewski
0
AngelList URL
angel.co/celohq
Pitchbook URL
pitchbook.com/profiles...230376-34
Number of Employees (Ranges)
51 – 200
Investors
Electric Capital
Electric Capital
0
Deutsche Telekom
Deutsche Telekom
0
Linda Xie (entrepreneur)
Linda Xie (entrepreneur)
0
MakerDojo
MakerDojo
0
Floem Capital
Floem Capital
0
DTCP
DTCP
Future\Perfect Ventures
Future\Perfect Ventures
0
DWF labs
DWF labs
0
...
Founded Date
2017
0
Total Funding Amount (USD)
126,500,000
Latest Funding Round Date
April 20, 2021
Competitors
Polkadot (cryptocurrency)
Polkadot (cryptocurrency)
Efinity
Efinity
Binance BNB
Binance BNB
ICHI
ICHI
Cosmos
Cosmos
Ethereum
Ethereum
Diem
Diem
Chia Network (blockchain)
Chia Network (blockchain)
...
Business Model
Transaction processing / marketplace
Exchange
HitBTC
HitBTC
KuCoin Exchange
KuCoin Exchange
Binance
Binance
Coinbase
Coinbase
DigiFinex
DigiFinex
Bybit
Bybit
...
Board of Directors
Morgan Beller
Morgan Beller
0
Jai Ramaswamy
Jai Ramaswamy
0
Richard Parsons (businessman)
Richard Parsons (businessman)
0
Key People
Rene Reinsberg
Rene Reinsberg
Latest Funding Type
Initial Coin Offering (ICO)
Initial Coin Offering (ICO)
Patents Assigned (Count)
4
Wellfound ID
celohq
Country
United States
United States
Headquarters
San Francisco
San Francisco

Cryptocurrency attributes

Consensus Mechanism
Proof-of-stake
Proof-of-stake
0
Maximum Supply
1,000,000,0000
Block Explorer URL
explorer.celo.org/mainnet
stats.celo.org
nearblocks.io/token/ce...bd.near
Announcement URL
blog.celo.org/its-offi...a71763f68

Other attributes

Blog
blog.celo.org
Circulating Supply
498,369,7480
CoinGecko ID
celo0
Community Forum
forum.celo.org
Company Operating Status
Active
Strategic Partnerships
EtherMail
EtherMail
0
Google Cloud Platform
Google Cloud Platform
0
DIA (company)
DIA (company)
0
PrimeDAO
PrimeDAO
0
Flowcarbon
Flowcarbon
0
Kadena
Kadena
0
Defy Trends
Defy Trends
0
ConsenSys
ConsenSys
0
...
Cryptocurrency Symbol
CELO0
ICO Amount Raised
6,500,0000
ICO Date
May 10, 2020
0
Latest Funding Round Amount (USD)
60,000,000
Market Capitalization
263,204,4330
Medium URL
medium.com/@celoorg
Source Code
github.com/celo-org/...-monorepo/
Token Standard
ERC-200
Total Supply
1,000,000,0000
Wallet
celowallet.app/setup
Overview

Celo is a developer of a mobile-first blockchain platform that offers financial tools to anyone with a mobile phone. The Celo ecosystem includes a decentralized, proof-of-stake blockchain technology stack, a native asset, a stablecoin, and the Celo Alliance for Prosperity. Since the 2020 introduction of Mainnet, Celo's network has supported over 1,000 projects from builders, developers, and even artists, who are able to create new applications and issue digital currencies in over one hundred countries.

Celo was founded on the belief that blockchain technology can solve real-world problems, such as lack of access to sound currency or friction for cash-transfer programs to alleviate poverty. The company operates on a theory of change framework, which describes how short-term action can lead to long-term social impact. In this framework, Celo aims to create the conditions for prosperity.

Platform

Celo is a mobile-first, carbon-neutral blockchain that offers decentralized finance tools and services intended to be accessible to anyone with a mobile phone. The blockchain is developed to be interoperable and cross-chain compatible to support Celo's vision for inclusivity. This is done in part by mapping wallet addresses to phone numbers to allow anyone to send payments as easily as sending a text. This uses a decentralized address-based identity layer to maintain security. Mobile participants can earn rewards for securing and maintaining the system.

CELO

CELO is a platform-native asset that supports the growth and development of the Celo blockchain and ecosystem. CELO is a utility, reserve, governance, and staking asset and part of Celo's multi-asset system. CELO holders can earn rewards, stake with validators, and vote on proposals to shape the future of Celo. CELO has a fixed supply and variable value that is connected to the use of the platform, governance, and the number of stablecoins in use.

CELO's primary function is stabilization, serving as the primary reserve asset in Celo's stability mechanism. Further, CELO plays a role in the governance of the Celo platform and technology. The CELO asset is used to stake as a signal of participation in confirming transactions on the blockchain, as part of Celo's proof-of-stake (PoS) consensus protocol.

Platform-native stablecoins (cUSD, cEUR)

Named for the currencies they follow, Celo Dollars (cUSD) and Celo Euros (cEUR) are stablecoins that allow users to share value on their mobile phones. These stablecoins unlock access for everyday uses, like remittances and cross-border payments, paying online, and transferring value within exchanges and in markets. These coins use an algorithmic stabilization mechanism, are publicly verifiable in that stability, and offer an average network transaction fee of less than $.01.

Using the payment applications and mobile solutions built on Celo, users can transfer stable value globally using only a mobile number, while retailers can accept either cUSD and cEUR as stable forms in payment online or in-person. The stablecoins are designed to not have high transaction fees or expensive third-party intermediaries for peer-to-peer payments. Further, these coins allow users of Celo's payment applications to send and receive money internationally or locally on a mobile phone.

Decentralized applications
Celo Wallet

The Celo Wallet is a desktop cryptocurrency wallet offered by Celo for use on Celo's network. The wallet, like other cryptocurrency wallets, allows users to manage funds, either in-browser or as a desktop application. Further, the Celo Wallet supports ledger and staking. Celo's coins are compatible with other wallets, including Valora, MetaMask, Abra, and Opera. They are also available in cryptocurrency exchange wallets, including Coinbase, Coinbase Pro, Binance, CoinList, OkCoin, and Bittex.

Celo Terminal

The Celo Terminal is a single place to manage accounts and access to Celo's decentralized applications. The terminal is available for download on MacOS, Windows, and Linux. It supports Celo applications and Celo cryptocurrencies. The Mento exchange is built into the Celo Terminal, allowing users to exchange assets. Further, it offers automatic staking with Celovote. Users can vote on governance through the Celo Terminal, and it offers ledger wallet support.

Moola

Moola is a mobile-first platform for borrowing and lending assets on Celo. This application, developed by Celo, is intended to democratize access to credit and yield and allow users to start earning interest on CELO, cUSD, and cEUR, while offering lending services to other Celo participants.

Public sector on Celo

Celo offers a program for central banking authorities, governments, and related agencies to explore options for issuance in permissioned environments, or processing social payments in the real world. Through this program, these entities are offered a chance to explore what is possible on blockchain with Celo and can gain insight from Celo's engineers, economists, public policy personnel, and compliance specialists. Celo also offers Provo, a free sandbox for public sector experimentations on Celo.

Central Bank programs and related use cases include digital currencies built on blockchain, and what it would mean for central banks to implement digital currencies; scalable cross-chain interoperability, as any central bank-issued currencies would require this level of interoperability; financial inclusivity research; policy and stimulus programs for targeted and effective economic stimulus programs; stability mechanisms for maintaining digital currencies stability; and the regulations applicable to stablecoins and decentralized financial technology to address the risks associated with these technologies.

The public sector program is supported by industry partnerships, including participation in pilots, committees, and working groups focused on increasing the conditions of prosperity globally. These partnerships include the following:

  • Chamber of Digital Commerce
  • World Bank Group
  • ITU
  • Blockchain Association
  • Blockchain for Europe
  • EUBlockchain
  • World Economic Forum
  • Alliance for Prosperity
  • Digital Euro Association

Timeline

No Timeline data yet.

Funding Rounds

Products

Acquisitions

SBIR/STTR Awards

Patents

Further Resources

Title
Author
Link
Type
Date

A Look at the Celo White Paper - The Celo Blog - Medium

Claire Belmont

https://medium.com/celoorg/a-look-at-the-celo-whitepaper-c0061118ffd4

Web

April 10, 2019

Celo explained in under 5 minutes. (cryptocurrency)

https://www.youtube.com/watch?v=BDPyCrB8Vr4

Web

October 30, 2021

References

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