Stories from Remittance Users

Remittances are a vital financial lifeline for people, families, and countries around the world. Yet current remittance offerings are often cumbersome, costly, and time-consuming. A recent BIS report stated that “cross-border payments remain slow, expensive, and opaque, especially for retail payments such as remittances.”*

In this piece we will explore how blockchain-based remittance solutions like Celo are well positioned to offer a better customer experience over current offerings. Let’s begin with the story of a woman the cLabs (Celo Labs) team met in Mexico, who was trying to access money to pay for health care. …


Good governance is one of the most defining features of a healthy ecosystem (political, economic, social) in the long-run. As ecosystem participants come and go, they must abide by the set of rules and ideals perpetuated through the governance structure. In the blockchain world, decentralized governance is vital yet tricky to get right. A proper incentive structure must be put in place, with the ability to change in a measured manner. To achieve this, many blockchain ecosystems choose to start out more centralized, but move toward greater decentralization over time. …

Cryptocurrencies, specifically stablecoins, are the gateway to building full-scale decentralized financial services. The broad design space enables innovation and accessibility in financial goods and services unbounded by borders and legacy constraints. Nearly any product related to the store or transfer of value and risk can be created using stablecoins. In this article we propose a framework for how insurance financial services can function on the blockchain. Core aspects of an insurance product must be preserved when migrated to a blockchain platform, with additional features to optimize and streamline contracts and execution. …

The old workings of money are being reinvented and the rules rewritten, to enhance financial access, improve efficiency and transparency, foster innovation, and restore a level paying field. But there is much yet to accomplish, and the original ambition of blockchain remains unfulfilled. This article lays out a plan for realizing the full potential of blockchain technology and stablecoins.

Problems with the Legacy System

Staggering income inequality around the world is a byproduct of the prevailing global economic paradigm. The misalignment of wealth, opportunity, and other flaws with this system are pervasive, but beneficiaries have an interest in maintaining the status quo. Centralized political regimes…

1. Monetary Velocity Definition and Understanding

Monetary velocity is an important concept for understanding stablecoin economies. It is broadly defined as total transaction value (GDP) divided by the monetary base per unit of time. The monetary base of a stablecoin is equal to its market cap, and the total transaction value represents the gross value of stablecoin that was transferred from one economic agent to another over a certain period of time.

Note: This is a re-posting of the original article, published November 15, 2018

2018 was billed as the ‘Year of the Stablecoin’, so what happened? While there have been a few noteworthy developments and announcements, the current state of the stablecoin landscape remains much as it was at the beginning of the year. That is to say that stablecoins have tremendous potential to transform the modern financial system, but have underwhelmed relative to expectations. This is not due to a lack of competition but rather to a lack of ideas for simultaneously accelerating mass adoption while guaranteeing price stability (i.e…

Choosing the right infrastructure is a crucial step for developers in the blockchain space. However, platform projects have struggled to meaningfully tackle the “Scalability Trilemma,” a term coined by Ethereum founder Vitalik Buterin to explain the problem of developing a blockchain that can offer scalability, security and decentralization without compromising any of these three pillars.

Fortunately, in response to the different needs of various projects and industries, the blockchain infrastructure landscape has been rapidly diversifying. The technology is still relatively young, but we believe that the blockchain community is ready to accommodate a mainstream consumer-facing mobile distributed app (dApp).


The purpose of this analysis is to share Terra’s approach to creating a price-stable cryptocurrency (stablecoin) for global adoption. Specifically, we solve for an optimal composition of currencies that will comprise Terra’s currency peg. Since Terra is a new stablecoin, it makes sense to first begin by drawing understanding from the practices of fiat monetary regimes and then applying this knowledge to cryptocurrencies. We then solve for an optimal currency basket to comprise the peg, resulting in Terra’s decision to peg its stablecoin to the International Monetary Fund’s Special Drawing Rights.


Most official sector foreign exchange reserve portfolios are diversified…

As of now, the MakerDao platform and Dai stablecoin have limited real world usage beyond margin lending to fund crypto trading. Dai can be purchased and used by almost anyone, but it still faces many hurdles in attempting to expand adoption, use cases, and access to financial services. For example, no standard business would create Dai (essentially take out a Dai loan) on the platform because you would run the risk of your collateral being seized by a ‘keeper’ in the middle of the night and waking up ~15% poorer the next day.

For those who are unfamiliar with MakerDAO

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