Deutsche #Telekom is investing in the future of the #decentralized #financial economy by purchasing a significant amount of #Celo assets (CELO). Celo is an open source blockchain ecosystem focused on making decentralized financial ( #DeFi) systems and tools accessible to anyone with a smartphone. Deutsche Telekom will be the first telecommunications company to join the global #Celo #Welfare #Alliance.
"With this investment, we make both our own network and the Celo network more secure"
T-Systems' CEO and Deutsche Telekom Board Member Adel Al-Saleh said, “Our investment in CELO, combined with the infrastructure operated by T-Systems, is a strategic It provides an approach. With this investment, we can make both our own network and the Celo network more secure and facilitate user entry and development of different usage scenarios on the Celo network. said.
↪️Will operate infrastructure on the Celo ecosystem
Deutsche Telekom will operate infrastructure on the Celo ecosystem. In this way, T-Systems, a subsidiary of Deutsche Telekom, will act as a validator using MMS Open Telekom Cloud (OTC). OTC meets strict security and compliance requirements under the European regulatory framework, making secure financial services accessible via #smartphones #worldwide.
In addition, Deutsche Telekom will also open the SMS API system, allowing validators to send verification messages using this service. Increasing the diversity of SMS providers on the Celo platform will improve both the security and the reliability of the decentralized phone authentication protocol. This will make the Celo blockchain easy to use.
With over 130 Union members, Celo's mission is to create a financial system in which welfare conditions are created for all.
"We are happy to receive the support of Deutsche Telekom"
Celo's co-founder Rene Reinsberg said, “We are pleased to receive the support of Deutsche Telekom in making the Celo network secure, improving the Celo infrastructure and making significant contributions as verifier. The strong combination of the CELO acquisition and enhancements on its mobile-first designed platform will accelerate the adoption of digital assets in the mass market and provide robust, secure and low-cost payments to smartphone users from anywhere. " He spoke in the form.
Deutsche Telekom's CELO acquisition will be carried out by the Telekom Innovation Pool (TIP). TIP is managed by Deutsche Telekom's strategic investment fund and Deutsche Telekom Capital Partners (DTCP).
Celo is a mobile-first, open-source ecosystem consisting of various technological infrastructures, institutions and individuals, with the aim of creating a financial system that will provide prosperity for all. Celo ecosystem; The proof of stake blockchain technology (Celo Platform), its own natural asset (CELO), two stable value cryptocurrencies ( #cUSD, #cEUR), and more than 130 worldwide, #Andreessen Horowitz, #Anchorage, #Coinbase, #GSMA, #Mercy Corps, The #Grameen Foundation includes the Celo Foundation Welfare Alliance, an organization that includes #Prosegur, #Abra, and #cLabs. This Association works for the growth and development of the Celo ecosystem.