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Celo Celebrates Five Years: A Vision for a Trillion-Dollar Onchain Economy by 2030
As the Celo Foundation celebrates its fifth anniversary, it has unveiled a bold vision to create a trillion-dollar onchain economy by 2030. This ambitious goal is rooted in the blockchain’s transformation from a mobile-first, carbon-negative EVM-compatible Layer 1 (L1) blockchain to a Layer 2 (L2) solution on Ethereum.
Celo’s journey over the past five years has been marked by significant milestones, including the successful migration to L2 and the launch of decentralized finance (DeFi) platforms Aave and Velodrome. The introduction of Self, a zk identity protocol developed in collaboration with the former OpenPassport team, represents another crucial achievement.
The company’s roadmap for 2030 is centered around promoting stablecoins and onchain foreign exchange (FX) markets. This ambitious endeavor aims to establish over 100 local currency stablecoins globally, fostering a more equitable financial system. Celo also seeks to set a global standard for proof-of-human and onchain identity through its Self protocol.
Furthermore, the foundation envisions a substantial surge in daily transactions, which is essential for Celo’s long-term sustainability. This transformation has been facilitated by the recent transition to L2, allowing for an upgrade in tokenomics, including the Great Celo Halvening, which reduced inflation and positioned the platform for sustainable growth.
Celo’s strategic alignment with the United Nations’ Agenda 2030 for Sustainable Development underscores its commitment to leveraging blockchain technology as a catalyst for a fairer financial system. This endeavor will focus on supporting regenerative economic concepts and addressing pressing global challenges such as climate change and poverty through innovative blockchain solutions.
As Celo embarks on this “winning era,” the foundation remains dedicated to constructing a decentralized, resilient ecosystem that prioritizes long-term growth and community empowerment.
Source: https://Blockchain.News/news/celo-five-years-vision-trillion-dollar-economy-2030
