The CELO cryptocurrency stems from the Celo project that was launched a few years ago. Shortly after its launch, the CELO cryptocurrency quickly became popular and attracted many investors, including financial institutions as well as other traditional companies.
What is Celo Project?
In May 2020, the world witnessed the launch of Project Celo. The word "Celo", pronounced "tselo", means "goal", which perfectly matches the goals of its creators. In fact, the biggest goal of the project is to bring people closer together and increase communication.
The project creators define the "Celo" project thus:
Celo is a new platform to connect people globally and bring financial stability to those who need it most.
We are driven by the goal of solving real-world problems such as lack of access to sound money or difficulty in using money transfer services that will reduce poverty.
It is clear that in addition to the desire to succeed in bringing people together, the Celo project aims to provide easy solutions for peer-to-peer payments. Concretely, the project is based on a blockchain-based ecosystem and offers decentralized transactions between smartphones. Using this technology, people who do not have access to the traditional banking system, but are equipped with a smart phone, can conduct financial transactions normally.
Celo offers a solution for everyone:
