RATE Group | Libra Minus Facebook: Why Celo Is 2020’s Buzzy Token Project
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Libra Minus Facebook: Why Celo Is 2020’s Buzzy Token Project

13 Feb Libra Minus Facebook: Why Celo Is 2020’s Buzzy Token Project

Posted at 07:14h in Ethereum News by

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Investors from Silicon Valley to Switzerland are whispering about it. The team behind that project, C Labs, is combining the ethereum and Libra models with a $30 million war chest from the likes of Polychain Capital and Andreesen Horowitz (a16z).

And with their stablecoins and reserve baskets, the shared backing of a16z isn’t the only similarity between the two projects.

“The Celo mobile app, bringing stable payments and remittances to the unbanked, has a chance to bring broad swaths of people to the world of blockchain technology and crypto, but to also level up the economic well-being of those most in need across the globe,” said Polychain President Joe Eagan.

Polychain CEO Olaf Carlson-Wee said in a Reddit AMA: “In the best case, Celo is Whatsapp for money.”

To that end, C Labs enlisted the makers of LibraCamp to launch a CeloCamp incubator. Starting in April, the eight-week program will match up to 30 teams with mentors including Jane Lippencott of Winklevoss Capital and…

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