Celo: Andreessen Horowitz and Polychain Capital to invest 25 million US dollars

the Stable-Coin projects have high economic activity. The Blockchain-Start-up Celo announced now on Medium, Andreessen Horowitz, and Polychain Capital to participate in the company. The goal is a platform that connects people and give them financial stability.

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As the company Celo on the Medium announced, invest Andreessen Horowitz and Polychain Capital a total of 25 million US dollars in the Blockchain-a Start-up. Andreessen Horowitz buys around 15 million US dollars in Celo Gold and Polychain Capital of ten million US dollars in Celo Gold. In the case of Celo or Celo Dollar is the in-house crypto-currency of Celo. After the Start-up of Expertise from various industries and organizations. Some of them the world Bank group, the United Nations, Google, WhatsApp, Microsoft, and Apple.

What is Celo, and the values represent the Start-up ?

Celo presents itself on its Website as a value-oriented companies. The goal of the company is to solve the world's poor access to stable currencies. In addition, a safe and quick money transfer program to be set up, which will help to alleviate poverty and eliminate it. If you trust the web site of Celo Believe, is the greatest Mission of the organization is to develop a monetary system that creates the conditions for prosperity for all.

Technologically, Celo would like to break down the barriers, the currencies of a broad adaptation of Crypto as a means of payment stand in the way. As a first application, which should be on the Celo-platform available, is planned to be a Social Payment App for developing markets. The company advertises that you can send money in the future, as easy as a text message. In order to keep the volatility in the borders, is bound of its own Token according to the Celo to the US Dollar, and a public Reserve. Celos core technology is based on the tried-and-tested Distributed Ledger technology of Bitcoin and Ethereum to build.

How to do it more in the future?

In the course of time there should be some options on the Celo-Ecosystem. Then, it should be possible, with the own mobile phone on the consensus of the network or the Codebase shape. With the Celo-platform in the future, anyone with a simple Android Smartphone can be part of the verification service. According to Celo, the user can then make excess capacity of its data contract and this volume in monetary terms to utilize.

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