Celo Foundation Adds New Members To Its 'Alliance For Prosperity'
Celo Foundation Adds New Members To Its ‘Alliance For Prosperity’
May 6, 2020
Celo Foundation Adds New Members To Its 'Alliance For Prosperity'
Celo Foundation Adds New Members To Its ‘Alliance For Prosperity’
May 6, 2020

Stablecoin payments network, Celo has announced the addition of more than 20 new members to its “Alliance for Prosperity“. Meanwhile, Celos’s mainnet launch is currently expected for mid-May.

The alliance’s total membership sums upto 75 just two months after its launch.

The new additions includes payment processors, digital asset wallet providers, custody providers, blockchain advocacy groups, privacy coins, stablecoins, and teams seeking to integrate blockchain technology into supply chain management systems.

Chuck Kimble, the head of Celo’s Alliance for Prosperity said:

“We are excited to see a 50% increase in new members since our March announcement.  Furthermore, we are excited about the diversity of the Members both in terms of geography, as well as their unique contributions to serve more people.”

Some of the new alliance members includes:

  • Ontology
  • Paxful
  • Peixe
  • Positive Blockchain
  • The United Africa Blockchain Association.
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Kimble outlines five goals that Celo hopes to accomplish before the end of 2020, including creation of a stablecoin ecosystem and decentralized finance protocols: 

“A Universal Basic Income that is tied into a market creation system. Demurrage — institute a small charge for holding money. Natural-capital backed currencies — back money with things that you see. An ecology of money — local, regional, national currencies. Earn money into existence — an alternative to interest-bearing debt.”

Kimble further added:

“The mission of prosperity for everyone will take a long time to achieve. By 2021, our hope is that we’re far along that path with people’s basic needs fulfilled, growing along their unique path, and helping one another in meaningful ways.”

He also notes that Celo hopes to introduce “a Proof-of-Stake consensus algorithm, carbon offsetting with each block reward, bounties for regeneratives behavior, [and] and natural capital-backed currencies.”

Andy Ji, the co-founder of newly welcomed alliance member Ontology stated:

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“We look forward to collaborating with other like-minded industry leaders to offer our ONT ID solution, with a view to jointly exploring identity-based DeFi applications built on Celo such as decentralized universal basic income or decentralized credit scores.”

Chandler Song CEO of Ankr, said that his firm will support Celo through its “node infrastructure and application platform.”


Source: Cointelegraph | Image: Pexels

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