|Date||10 Oct 2019|
Celo aims to remove the barriers for large-scale adoption of cryptocurrencies as means-of-payment. Using a novel address-based encryption algorithm, the Celo protocol makes sending money as easy as sending a text. Additionally, Celo uses stable-value tokens pegged to fiat currencies, like the US Dollar, to minimize volatility. Celo is an open protocol enabling many to participate in the system, even with a budget Android smartphone. The first application launching on the Celo platform is a social payments and money transfer app, aimed at developing markets.
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