Crypto Learn more on celo, a cryptocurrency for smartphone users

Lens1000

VIP Contributor
Celo is a blockchain or platform that is aimed at providing payment in cryptocurrency to mobile phone users. The project makes financial services available to the teeming mobile phone users. It allows payment to be made on any phone number. It is built using the blockchain technology making it a decentralized currency. The celo(CGLD) has two native tokens CELO and cUSD( celo dollars).

The celo dollars is a stablecoin depicting the value of the USD. The celobis designed to support stablecoin and tokenized assets. Celo is a cryptocurrency that allows the mobile users or smartphone users to send , receive and store cryptocurrency or stable coin on the celo(CGLD) blockchain.

Celo is a very good project similar to mobile wallets that was similar that was created by Nigerian banks. It uses the mobile phone number as your account number. The celo is aimed at reaching the unbanked in the world

What more do you know about the celo?
 

Mika

VIP Contributor
I do not know CELO and cUSD. However, I know a lot of people are talking bout these crypto currencies. cUSD, I guess is a stable coin. I do not have much faith in stable coins because the fixed value given to these stable coins is fake. IN order to give a fixed value, there should be some sort of fiat reserve in the banks but most of the stable coins do not have any reserve.
 
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