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Kakao’s Klaytn Is The Latest Member To Join Celo’s Alliance For Prosperity

Klaytn, the public blockchain platform developed by Ground X and an affiliate of the major South Korean internet company, Kakao, joined Celo’s Alliance for Prosperity on May 8.

Celo has now attracted nearly 80 firms to its alliance, with Celo announcing more than 20 new members earlier this week. Klaytn will now research interoperability between Klaytn and Celo platforms and integrate support for its KLAY token on Celo’s ecosystem.

We are excited to announce that Klaytn has joined the @CeloOrg Alliance for Prosperity, a mission-aligned network of organizations fostering social impact and financial inclusion through the use of blockchain technology. Check out the blog for details! — Klaytn (@klaytn_official) May 8, 2020

Chuck Kimble, the head of Celo’s Alliance for Prosperity, emphasized that Klaytn will comprise the first external blockchain that will interoperate with Celo:

“By building a bridge between Klaytn and Celo, Klaytn will expand its own ecosystem, and make it simple for people in Korea and across Asia to send and save with Celo.”

Sangmin Seo, Ground X’s head of platform group, says that the alliance “shares a mutual vision with Klaytn in making digital assets more accessible and useful in our everyday lives.”

Celo co-founder Sep Kamvar, says that decentralized technologies provide “the opportunity for new stories to arise.” while emphasizing that the opportunity for the DLT sector to rise to prominence amid the current global recession:

“This is our potential right now as a field, to tell beautiful stories and build technologies that align with the stories. The stories that lead to the most prosperity for all will lead to the most beautiful world for all.”

Andy Ji, the co-founder of Ontology, describes both Celo and Libra as “excellent associations” that have “attract[ed] high-quality members thus far.”:

“However, Celo is an open-source project run by a non-profit organization foundation,” Ji stated, predicting that “[d]ue to its decentralized nature, Celo may not face the same regulatory barriers as Libra.”

Source: Cointelegraph | Image: Pexels

#Klaytn #Kakao #SouthKorea #Stablecoin #Celo #blockchain