Use your phone number as your wallet address

There is Celo, seen as a rival to Facebook's Libra.

Celo comes across as the first mobile-based blockchain platform. It aims to create financial instruments in Tanzania, Colombia, Argentina, Mexico, the Philippines and Kenya that are accessible to everyone with just one phone.

The Celo network offers its users stable Celo dollars, local currencies, commodity-based stable currencies and more. C Labs, the parent company of Celo, has made sending money as easy as SMS with the wallet application it has developed.

Technology

Celo allows users to connect to the system with a lightweight application. The protocol behind this implementation is much less the amount of data needed for synchronization compared to the popular blockchains.

Choose from contacts, send money

Unlike the system we are used to, Celo converts users ' phone numbers into a cryptographic address, allowing them to send.

In a nutshell, just enter a contact's phone number from your contacts. You can send even if the contact is not in your contacts. Celo keeps the money you send in a wallet sometime, and when the person you're sending creates a Celo account, they can decipher it very easily.

Convenience in transaction fee payments

For example, Ethereum is needed to send a stable currency to the network. Celo also receives transaction fees in the Sent currency, eliminating the need for two separate currencies for the transaction.

Trade, earn respect

Celo also serves as a digital ID for users who are trading on it. As users trade, they gain credibility and their credibility increases. Thus, in the future, infrastructure is provided for person-to-person credit transactions.

How can we benefit?

Celo, along with Polychain Capital, One of the Blockchain industry's leading venture capital firms, funds those looking to develop projects on Celo.

Individuals can participate in the Celo Fellowship Program and receive a budget of between 500 dollars and 10 thousand dollars to contribute to Celo.

I would recommend watching the beautiful video below of Celo: