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Cyber Bitcoin
Edited by qqqpeter at 2020-3-15 11:10

Coindesk.com reported that Silicon Valley cryptocurrency startup cLabs focuses on mobile payments and the Celo blockchain project. It follows the independent Celo Foundation to establish an industry association, another precedent for the Facebook Libra script.

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Image from Malaysia.news.yahoo.com

Dozens of blockchain companies and investors, including members of the Libra Association, Coinbase Ventures, Andreessen Horowitz, Bison Trails and Anchorage, are all committed to promoting Celo tokens in some way by joining this "prosperity alliance". cLabs founder Rene Reinsberg said in a press statement,

The consortium will use blockchain technology to reshape the future of currency and create inclusive financial instruments." "From cross-border remittances to donations to humanitarian organizations, We all want to make sure that money goes to the right person, not in the middleman's pocket.

Chuck Kimble, head of business development at cLabs and now head of the Prosperity Alliance, said the idea is to get some members to hold Celo Gold tokens or become network validators. Recruitment methods seem to be more and more common in the industry, which shows that stablecoins need huge network effects to promote financial inclusion. Referring to cross-border transactions using "accessible" financial instruments, Kimble said,

Members are committed to integrating with the Celo platform and enabling the outlined use cases. The Serow Foundation sees decentralized finance as 'open finance, and many alliance members are exploring open financial DeFi use cases, such as untrusted peer-to-peer loans.

Even Facebook is struggling to define what it means to be a “formal partner” when the Libra Association is formed. Companies such as Visa and Mastercard left the Libra Association within a few months. There is precedent for this alliance among cryptocurrency startups. For smaller patient associations funded by the 2017 Token Sale and co-curated by startups and non-profits, members pay annual dues and attend seminars related to regulatory standards and technical challenges. Olaf Carlson-Wee, a member of the alliance and CEO of Polychain Capital said,

With Alliance, we will not only see a mobile application for transferring funds, but also many applications for various financial use cases . For me, the alliance proves that Celo is not only able to deliver complex, user-friendly products worldwide, but also enables member organizations to deliver products on top of the Celo platform.

From the perspective of joining the Libra Association and Cyrus members, this new alliance may provide a way to hedge. Anchorage President, Diogo Monica said,

We are proud to work with a variety of organizations to create a more open and inclusive financial system

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