Among the biggest values of blockchain and web3 It’s that they enable different communities around the world to use the building blocks of novel technology to solve issues specific to each of them, said Xochital Cazador, head of ecosystem growth at open-source, mobile-first Told cello platform. The many opportunities thus created include universal basic income (UBI), low-collateral loans and micro-tasks.
Cazador said that the value of Web3 is largely measured by metrics such as Total Value Locked (TVL), but another way to measure value is by communities and the basic needs it serves. cryptonews.com,
Communities look to resolve various issues
He added that Celo has a global ecosystem with builders in 150 countries, many of which are in emerging markets. Some of the most active hubs are in Nigeria, KenyaAnd Ugandaas well as in the areas latin americasuch as BrazilAnd Colombia – and the focus here is on real-world use cases.
Therefore, Cazador said that,
“One of the things we’re seeing growing in our ecosystem is people building solutions for their own communities.”
Everyone applies this emerging technology differently in different fields, she said — even within the same field, there are micro-communities to observe, given that each of them have current issues specifically for them. For Brazil it could protect the Amazon, so projects are focusing on that. Or in Kenya, where the unemployment rate is high and the population is small, projects are focused on allowing microwork, “which is a really great use case for crypto,” Cazador said.
Examples include projects that are working on universal basic income, looking at how we tokenize real-world wealth, as well as promoting affirmative action. impactMarket, for example, is a decentralized poverty alleviation protocol that enables the distribution of unconditional basic income (UBI) to those in need. one of his projects UBI for Ukraine Initiative, supported by partners in the Cello ecosystem.
Another example is low collateral loans provided by projects Roda, is located in Colombia. Celo ran a pilot during the first half of 2020 COVID-19 Lockdown to test some ideas related to undercollateralized credit for Venezuelan migrants living in Colombia, finding that peer-to-peer (P2P) systems “collateralized on social relationships, reduce the cost of capital for lenders in emerging markets” And can reduce both the cost of operations.
Kazador said,
“What’s really interesting about this case in particular is that some of the individuals who received the loans were literally sleeping on the street: they received a $500 loan to buy a motorcycle that allowed them to do something like allowed to be a courier uber eats,
Not only did he get access to steady employment, but his monthly income doubled, tripled and even quadrupled. “And I think that’s what excites me about Web3: these new outlets for people to get access to basic financial tools and start to really transform their lives.”
Additionally, Web3 solves Web2’s issues when it comes to payments, as it enables people to receive digital assets immediately after they are transacted, and without missing out on a large percentage of it in fees. Said and added:
“So I think there are themes within each country, very specific circumstances. And I think we see projects emerge that are tackling those specific matters.
What we’re seeing here, Cazador said, is
“People are taking the kind of building blocks of Web3 and re-imagining them in ways that we can’t because we’re not on the ground in those communities. So I think where the potential lies: You can use some of these How about taking the building blocks and re-imagining them in ways that really benefit these local areas?
toucan Here is another example of such a project. It is tokenizing carbon offsets, working to encourage farmers to take more planet-positive action.
more in the years ahead of us
Cazador argued that we are currently seeing more projects that focus on these types of tokens, achieving this in different ways, while in the future there will be even more action on trees and water, for example. for.
“You’re putting the power back in the hands of individuals and communities to develop these solutions that actually work for them. And so, in five years, I’m really excited to see a community flourishing.” Because they are able to build these building blocks on their own.”
Also in a few years, Cazador expects the industry to continue to simplify this new technology for the everyday user.
Cazador said we are now seeing larger projects joining hands with smaller ones to address specific issues, and “I think this will continue to be a theme” well into 2023.
As Reported Earlier in January, Cello FoundationLayer-1 Celo, which promotes the blockchain and its ecosystem, unveiled its new brand identity and vision, designed in collaboration with the New York-based agency red antler, as well as a series of partner launches and awareness campaigns. They aim to drive Web3 adoption by everyday users around the world. “The brand evolution sees a planned launch from Opera, GoodDollar, and an NFT auction with Valora and Erigallery, featuring artists from Celo’s global ecosystem,” it said.
Meanwhile, in late November, blockchain technology company Consensus partnership With Celo to drive mainstream adoption of Web3. This enabled developers to build with Cello infuraWith the announcement that the Infura integration provides multichain support with complementary tooling that communicates with the Celo blockchain for rapid deployment and scaling.
Developers have also been enabled to deploy Ethereum (ETH)-based dapps With fungusUse Devotionsmart contract audit service, and transactions between Celo and other decentralized finance (DeFi) with platforms and dApps metamask,
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learn more:
, Posted on Curve.finance Cello
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