With the irruption of Blockchain technology and cryptocurrencies in the global economic space, much has been written or spoken about them, having as a central axis the almighty Bitcoin, the great masterpiece of Satoshi Nakamoto that started this revolution of decentralized digital money. Now, more than ten years after the emergence of the invention of the 21st century, another revolution derived from the use of cryptocurrencies is looming and threatens to disrupt the foundations of conventional (centralized) finance, I am referring to Decentralized Finance or DeFi.
But in the world of DeFi Ethereum is the king since so far it agglutinates most of the smart contracts that are made in the cryptosphere, however this platform has been heavily criticized for its shortcomings regarding the high cost of commissions or gas in addition to doubts about its decentralized nature.
In that sense, many projects have focused on making the niche of smart contracts and DeFi overcoming the failures of Ethereum, thinking about it arises Celo, a platform that also provides its own token called CELO and whose developers are professionals who were trained at the Massachusetts Institute, Stanford University, Harvard University, Cambridge University.
Celo works as a blockchain ecosystem with the aim of increasing the adoption of cryptocurrencies among smartphones. Its system is decentralized, so investors are the owners of all their cryptocurrencies. Recently this project presented a great price increase due to the interest that the companies PayU Deutshe Telekom, the first dedicated to digital payments and the second to telecommunications, offer to Celo, to the point of including its cryptocurrency in its monetary offer and services.
In a last official balance sheet both firms, stated that they bought millions of euros in the digital asset and in a statement, announced that they would continue to invest in Celo through Coinbase, the cryptocurrency trading exchange listed on the New York Stock Exchange.
Due to the success of its crypto CELO in the business world, the developers of this project launched a US$ 100 million fund with the purpose of making inroads into DeFi. To carve out a niche in DeFi, Celo launched "DeFi for all people", a global fund for all people to access decentralized finance, invest their savings and generate interest in cryptocurrencies.
To achieve their goal, Celo's leaders plan to create a system where more than 6 billion smartphone users can invest in Celo and other decentralized tokens to earn returns in cryptocurrencies. To achieve this, Celo uses phone numbers as public keys, in this way its developers hope to introduce the world's billions of smartphone owners, including those without banking access, to cryptocurrency transactions.
As of today CELO presents a price per unit of US$ 7.08; its market capitalization is US$ 7,019,215,991; placing it in 57th place in the cryptocurrency ranking. Likewise, the total number of shares is 1,000,000,000,000; of which 306,819,314.00 units are outstanding, approximately 31% of the same.
It is necessary to remember that the publication here published was developed for purely informative purposes, and therefore does not represent any form of advice or recommendation on my part. Only those interested in this and any other project should assume under their own risk and responsibility their investments, so it is important to study and corroborate everything related to the object of your interest.
