C Labs

C Labs is one of the multiple companies working on Celo, an open-source permissionless platform that makes financial tools accessible to anyone with a mobile phone. Using a novel decentralized PKI, Celo lets you send cryptocurrency to phone numbers in a fully decentralized way. Additionally, Celo uses stable-value tokens pegged to fiat currencies, like the US Dollar, to minimize volatility. Anyone can participate in the network and earn Celo currency, even with just a budget Android smartphone (by sending verification text messages). To make sure that the platform is scalable and fast enough for day-to-day use, Celo uses a new Proof of Stake protocol with fast block times and one block finality. Further, it uses SNARK-based proofs to allow light clients to sync with the chain instantly. For Celo's first product, we are working with organizations such as the UN World Food Programme and GiveDirectly on a social payments and cash transfer app that looks and feels like Venmo, yet is fully decentralized.