Celo: Towards Prosperity for Everyone with Marek Olszewski & Rene Reinsberg:

Epicenter
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Automatic TRANSCRIPT

You guys. I was reading through the website a little bit before and read somewhere that sells philosophy is based on Charles Eisenstein Sacred Economics cures like we say guy, what's sacred economics? Shots philosopher been very influential on work. We've been doing you know I. Think we can chat about some of the concepts that he introduced that. We think this technology brought to life at a at a big scale. I think one thing maybe for people who are new to settle into the community maybe let me just kind of lay out of the community tenants that we kind of set for the work that everyone is doing and that. kind of in a way make sure people have a sense for what Selah stands for independent new regardless of where the building and what kind of application they building, how looking to kind of use the platform those attendance are designing for all big one loss. You know you brought up finish choosing but think it's less about just puny focusing on tradition inclusion but it's designing a system that is truly accessible to everyone and I think by focusing on communities that are more excluded today, you actually have a shot at having ultimately something that that is accessible to everyone can work for everyone set the first one. The second one is innovating on money, which is kind of. Vein of Prima money and I think this is where you see some of the. Ideas that shots introduced in among other things. Book Cigarette Mixing Charles has been an advisor Selah which has been awesome but I think when you look at the history of money, you see it hasn't really changed the sixteen hundreds, and now we have this opportunity to really kind of actually change what money is that what it can the benefit can bring to communities in. So with that looking at really revisiting the future of money, and of course, we're starting in a much more pragmatic place, stable coins, digital that represent Fiat currencies but you know in the future we see currencies take different shape and you know concepts like natural currencies are things that are really interesting to us. Related to that striving for beauty attendant that is important. You know when you create isn't GonNa make the world in maybe a little bit cheesy. But more beautiful places that actually bringing things that will bring joy in value to communities and just someone who's debating whether they want to be part of community think seeing that and thinking about the things that they. Want to build gifts for more information at the last one. This is maybe one that does feel even more important in today's kind of times. This is about humidity embodying your mentality that has helped us. You know I think we if you talk to us get you know this already I mean we don't pretend we know all the answers have all the answers. Certainly like the undertaking of the mission, for Sallow, to have a better financial system that allows prosperity for everyone, it's not something that smoke with people can just build and roll out and like grow, but it is a team after it's an effort of a growing community, a lot of people being involved over the world to shape that drive that and so the best way to kind of go about it by asking questions by showing vulnerability humility, those are the the broader tenets for several. In addition to those tenants. Have a separate vision statement for the future. Some specific target you're looking to achieve or is it more that you owner achieve something that brings about financial inclusion and like mobile in the world and? So, tell, US, mission at its core is to build a financial system that creates the conditions for prosperity for everyone, and the way that we're doing that is by building a permission lists platform that makes financial tools accessible to anybody with a mobile phone, and maybe those also taking a step back for those who are. What hello can concretely it's a preface state platform that is fully compatible. I would say that there are three key innovations that help us and if achieve this mission, each of which were really specifically chosen to make fellow more usable to someone using it via mobile phone. Has. A CLIENT PLUTO, which leads mobile devices think chain can endure instantly. The current version that we've launched requires certain about seventeen thousand times, less data to sink than a traditional espe- based like client and these soon to launch SNARK based version of this will be one point seven, million times more efficient, and this allows anybody on a mobile phone. To sink in a fully peer manner with the chain in a police censorship assistant manner. There's no need for something like in fuhrer to be able to connect with the chain from your mobile device. Secondly, fellow has a stable coin that's native to the platform called fellow dollars or C. USD Algorithm Mick and Crypto collateralized. been currently, there's about just over six million, US the circulation, the network launched and the number been growing steadily since launch. This is collateralized with around two hundred, twenty million dollars worth of trip to assets which include fellow the native acid on the platform bitcoin and if and then critically even the USDA is implemented. As a token on the platform, you can actually pay for transaction fees with Tokens on the platform. So you can actually pay transaction fees with the US. And then finally stellar has an on chain PKI which maps. Phone numbers or Hashes phone numbers to public keys in Wallet addresses so that people can find each other really easily by phone number, and so this allows people to send payments to anyone in their contact with even if the recipient hasn't even. Create an account on this network, and so these three things can have taken in unison really allow us to build a really great mobile kind of experiences that are

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