Just discovered CELO last night. Sorry now addicted to Crypto….
Altcoin: CELO, $5.80 a crypto protocol.
Market Cap $5,670 million
Circulation 1,000 million
Big project / Big money backing them
$5.80 altcoin – still developmental stage.
Explanation Video: https://www.youtube.com/watch?v=mkpTmbkRv4A
THEME: Bank the unbanked through cell phones.
The global network effect would monstrous.
Website: https://celo.org/
Among the Financial Backers:
Jack Dorsey – Founder -Twitter/ Square
Reid Hoffman – Co-Founder Linkedin – Board member Microsoft
CoinBase – One of the largest global crypto trading platforms
Polychain Capital – self-claimed world’s premier digital asset investment fund
THEME:
There are 6 billion people in the world with cell phones. 2/3rds of these people are unbanked.
CELO goal is to bring the Foundational Blockchain platform (not based on any other Blockchain) to the Unbanked on a global level.
Money transfer, loans, lending, insurance – virtually all financial services provided through this platform.
SUMMARY:
- The Network Effect on the price of CELO is monstrous when implemented on a global level.
- The price is near $6.00 up from $1.50 in Q3 2020. But the implementation is very early stage.
- The financial backers are deep pocketed, connected and very successful.
- The services offered and needed (problems to solve) reaches everyone with a cell phone and phone number.
- Eliminates traditional middlemen – banks & insurance companies.
Do your own due diligence. Come to your own conclusions. We are early for this name and its application, but the train is pulling out of the station.
Source: https://www.tradingview.com/symbols/CELOUSD/
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