Source:
AdobeStock
/
erllre
Among
the
greatest
values
of
blockchain
and
Web3
is
that
they
enable
different
communities
across
the
world
to
use
the
novel
technology’s
building
blocks
to
solve
issues
specific
to
each
of
them,
said
Xochitl
Cazador,
Head
of
Ecosystem
Growth
at
the
open-source,
mobile-first
Celo
platform.
The
many
opportunities
created
this
way
include
universal
basic
income
(UBI),
undercollateralized
loans,
and
micro-work.
The
value
of
Web3
is
largely
measured
by
metrics
like
total
value
locked
(TVL),
but
another
way
the
value
could
be
measured
is
in
terms
of
communities
and
the
basic
needs
being
met,
said
Cazador
to
Cryptonews.com.
Communities
look
to
solve
different
issues
Celo,
she
added,
has
a
global
ecosystem
with
builders
in
150
countries,
many
of
whom
are
in
emerging
markets.
Some
of
the
most
active
hubs
are
in
Nigeria,
Kenya,
and
Uganda,
as
well
as
in
areas
in
Latin
America,
such
as
Brazil,
and
Colombia
–
and
the
focus
here
is
on
real-world
use
cases.
Therefore,
Cazador
noted
that,
“One
of
the
things
that
we’re
seeing
develop
in
our
ecosystem
is
that
people
are
building
solutions
for
their
communities.”
Everyone
applies
this
emerging
technology
differently
across
different
regions,
she
said
–
even
within
a
single
region,
there
are
micro-communities
to
observe,
given
that
they
each
have
issues
current
for
them
specifically.
For
Brazil
it
may
be
protecting
Amazon,
so
projects
are
focusing
on
that.
Or
in
Kenya,
where
the
unemployment
rate
is
high
and
the
population
is
very
young,
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
assets,
as
well
as
promoting
positive
action.
impactMarket,
for
instance,
is
a
decentralized
poverty
alleviation
protocol
that
enables
the
distribution
of
unconditional
basic
income
(UBI)
to
those
in
need.
One
of
their
projects
is
the
UBI
for
Ukraine
initiative,
supported
by
partners
in
the
Celo
Ecosystem.
Another
example
is
undercollateralized
lending,
provided
by
projects
such
as
Roda,
based
in
Colombia.
Celo
ran
a
pilot
in
the
first
half
of
2020
during
COVID-19
lockdowns
to
test
certain
ideas
related
to
undercollateralized
credit
for
Venezuelan
migrants
residing
in
Colombia,
finding
that
peer-to-peer
(P2P)
systems
“collateralized
on
social
relationships,
can
decrease
both
the
cost
of
capital
and
the
cost
of
operations
for
lenders
in
emerging
markets.”
Cazador
said,
“What’s
really
interesting
about
this
case
in
particular
is
that
some
of
the
individuals
that
received
loans
were
literally
sleeping
on
the
street:
they
received
a
$500
loan
to
purchase
a
motorised
bicycle
that
allowed
them
to
become
a
courier
for
something
like
Uber
Eats.”
Not
only
did
they
get
access
to
stable
employment,
but
their
monthly
incomes
doubled,
tripled,
and
even
quadrupled.
“And
I
think
this
is
what
gets
me
excited
about
Web3:
these
new
outlets
for
people
to
begin
to
get
access
to
basic
financial
tools
and
to
really
change
their
lives.”
Additionally,
Web3
solves
issues
of
Web2
when
it
comes
to
payments,
as
it
enables
people
to
receive
digital
assets
immediately
after
performing
a
task,
and
without
a
large
percentage
of
it
disappearing
in
fees,
she
said
and
added:
“So
I
think
there
are
themes
within
each
country,
there
are
very
specific
circumstances.
And
I
think
we
see
projects
emerge
that
are
tackling
those
very
specific
cases.”
What
we
are
seeing
here,
said
Cazador,
is
that
“People
are
taking
kind
of
the
building
blocks
of
Web3
and
reimagining
them
in
ways
that
we
can’t
because
we’re
not
on
the
ground
in
those
communities.
So
I
think
where
the
potential
lies
is:
how
do
you
take
some
of
these
building
blocks
and
reimagine
them
in
ways
that
really
benefit
these
local
areas?”
Toucan
is
another
example
of
such
a
project.
It
is
tokenizing
carbon
offsets,
working
to
incentivize
farmers
to
more
planet-positive
action.
More
to
come
in
the
years
before
us
Cazador
argued
that
we
are
currently
seeing
more
projects
that
focus
on
this
type
of
tokenization,
approaching
it
in
different
ways,
while
the
future
will
bring
even
more
action
focused
on
trees
and
water,
for
instance.
“You’re
putting
the
power
back
into
the
hands
of
the
individuals
and
the
communities
to
develop
these
solutions
that
really
work
for
them.
And
so,
in
five
years,
I’m
really
excited
to
see
a
community
thrive
because
they’re
able
to
build
these
building
blocks
on
their
own.”
Also
in
a
few
years,
Cazador
expects
that
the
industry
will
continue
to
make
this
new
technology
simpler
for
the
everyday
user.
Cazador
noted
that
we’re
also
now
seeing
larger
projects
joining
hands
with
smaller
ones
to
address
specific
issues,
and
“I
think
that’s
going
to
continue
to
be
a
theme”
in
2023
as
well.
As
reported
earlier
in
January,
the
Celo
Foundation,
which
promotes
the
layer-1
Celo
blockchain
and
its
ecosystem,
unveiled
its
new
brand
identity
and
vision
designed
in
collaboration
with
New
York-based
agency
Red
Antler,
as
well
as
a
series
of
partner
launches
and
awareness
campaigns.
These
are
aimed
toward
the
adoption
of
Web3
by
everyday
users
around
the
world.
“The
brand
evolution
sees
planned
launches
from
Opera,
GoodDollar,
and
an
NFT
auction
with
Valora
and
Arigallery
featuring
artists
from
Celo’s
global
ecosystem,”
it
said.
Meanwhile,
in
late
November,
blockchain
technology
company
ConsenSys
partnered
with
Celo
to
drive
the
mainstream
adoption
of
Web3.
It
enabled
developers
to
build
on
Celo
with
Infura,
with
the
announcement
adding
that
the
Infura
integration
offers
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
Truffle,
use
Diligence’s
smart
contract
audit
service,
and
transact
between
Celo
and
other
decentralized
finance
(DeFi)
platforms
and
dApps
with
MetaMask.
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