Inspired by extensive research in emerging markets and developing countries — Tanzania, Colombia, Argentina, Mexico, the Philippines, and Kenya — Celo is building a mobile-first blockchain platform alongside a suite of financial tools accessible to anyone with a basic smartphone. On this platform, value can be transferred faster and cheaper than traditional bank wires using globally accessible technology. Since cryptocurrencies are completely programmable, a wide array of financial services can be created without costly intermediaries.
The Celo network features a stability protocol capable of hosting an ecology of stable value currencies like the Celo Dollar, regional currencies, commodity based stablecoins and more. The C Labs team has created the Celo Wallet, which makes sending stable currencies as easy as sending a text message. Since Celo is completely open-source, developers can collaborate to build financial applications and services to empower people around the world.