In the proposal are names that are well known in the local community and I think that the marketing budget is important, rational and is better to secure it for 2 years; it actually represents the 16% of the total.
2 Likes
Excellent proposal, very interesting, and I hope we can make that progress to facilitate adoption. At Platohedro, we have been participating in Impact Market, and soon we will intensify our journey with CELO. These things are going to be very helpful.
3 Likes
I like the proposal! Introducing cCOP in Colombia is a great idea when people can interact with each other while learning and leaving fear aside. The idea of creating a multisign is also a great idea to have the funds safe and showing the transparency of the project.
2 Likes
Hi there!
Thanks @0xj4an and team for putting together this proposal.
As explained in the proposal: Due to local cryptocurrency regulation, Colombia’s ecosystem presents itself as an optimal environment to develop and test new highly adopted blockchain solutions.
My understanding is that this proposal aims to provide foundation for a local market adoption of a new stable coin pegged with the Colombian peso.
However, the $cCOP might not be the first step in the process of promoting a mass adopted stablecoin in Colombia. And I will provide a couples of ideas behind this claim.
I think there are two ways of approaching the mass adopted stable coin in Colombia:
-
The first approach, the retail approach, is to develop a bottom to top strategy where individuals and non technical users actively accepts the stable coin as a common use product. ie, The remittance market, where millions of users swap currencies on a weekly or monthly basis.
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The second approach, the b2b approach, where businesses implements the blockchain as a payment channel with on ramping and off ramping features.
The B2B approach should be the first step.
A Fiat Liquidity Provider ecosystem is the foundation for a safe Retail onboarding.
The retail approach relies on the thesis that users will adopt the stablecoin due to its pegged price with the colombian peso: resulting in a user experience of a digital money. This “digital money” experience is already adopted in the retail market as neo baking, where startups provide holding and trading value trough a fully virtual experience based on mobile apps, qr codes, etc.
The big difference between neo banking solutions (such as Nequi or Daviplata) and the $cCOP stable coin, is that neo baking solutions can be easily be swapped into cash or commercial bank.
money. Implementing such feature requires the retail approach to rely on fiat-crypto liquidity providers such a CEX, p2p market, etc.
This process of on/off ramping is what creates trust among the retail and non technical users since provides a clear and easy opt-out. And having a ecosystem of reliable on/off ramping services is the feature that truly sets the foundation for a retail adoption.
From this perspective, the main actor of the retail adoption is the ecosystem of products that can actively provide a user experience comparable to the neo banking solutions.
This leads us to the second approach: the b2b adoption. The key element of the b2b approach is a market demand for the stable coin as a payment system. Retail won’t demand the stable coin if it’s not easily swapable to fiat. This creates a opportunity for the Fiat Liquidity Providers, as they can get a cut on the volume of the “digital money” local market and access a permissionless global market (defi) at the same time.
cCOP is not required to start
Fiat Liquidity Providers can be implemented without COP tokenization
This kind of crypto backed digital money solutions with proper on/off ramping services doesn’t even require a tokenization of the underlying asset in the first place. The Fiat Liquidity Providers can implement a soft pegged solution to create a local market for stable coins for business and a competitive international payment solution for the retail users.
Any kind of already liquid stablecoin can be used to iterate over retail focused products in the Colombian market.
The main question that arises is "how to avoid the volatility between the colombian peso and the stablecoin price?
An UTXO-inspired implementation, might provide a soft peg to the underlaying asset (the colombian peso) by offering an arbitrage opportunity to the Fiat Liquidity Providers.
Before explaining this UTXO-inspired soft pegged on/off ramping solution, it’s important to clarify that the $cCOP is indeed a great solution for the local market, but shouldn’t bee the firs endeavor of this process.
An UTXO-inspired soft pegged Fiat Liquidity Provider might be easier and cheaper to develop, allowing the community to have quick feedback on how the retail users interact with the solution and setting the soil for a future $cCOP implementation and adoption.
Boosting the local stable coin market with soft-pegged COP
On of the key elements of the UTXO model is the balance of the accounts: Rather than a fixed number stored in a mapped state, the UTXO model adds together the result of previous transactions, allowing the balance of the account to be atomical. This atomicity can be used to encapsulate the fiat swaps information and create a track of the COP transactions on chain.
Keeping track of the swaps, means that any user can read its COP total deposit amount, and allowing the Provider to read the result of the swap given these deposits.
Let’s provide a quick example.
UTXO #1
The retail user deposits 1000 COP at 4000 usd/cop, being swapped into 0.25 cUSD.
UTXO #2
The retail user deposits 1000 COP at 3800 usd/cop, being swapped into 0.26 cUSD.
UTXO #3
The retail user deposits 1000 COP at 4200 usd/cop, being swapped into 0.23 cUSD.
Total deposit of 3000 COP easily obtainable from the chain by using indexer services. Same case for the resulting 0.74 cUSD.
If the Retail User request a swap at 3800 usd/cop the Provider will sell the 0.74 for 2736 cop, losing the 264 cop if the Provider has enough COP Liquidity, will have a unrealized loss. If the Provider lacks of enough COP Liquidity, the Provider will be forced to buy COP at a higher price, and having a biggest lost.
This double lost scenario, creates incentives for the Provider to keep a healthy liquidity for self protection and quick profit opportunities when other Providers require it.
In parallel, if the Retail User request a swap at 4200 usd/cop the Provider can sell 0.715 for 3000 cop, and pocket 0.025 cUSD
In this scenario, using smart contracts to mimic the UTXO approach results in on chain orderbook, where the Retail User balance is an open spot position.
Beyond the UTXO-inspired approach.
A market for fiat swapping can be achieved with DEFI solutions, providing a strong foundation for the subsequent cCOP adoption by creating an active user base of digital money solutions (or event fiat wrapped products).
My take is on re structuring the roadmap of the cCOP that allows the community to start working on this proposal for just a fraction of the Marketing Plan Budget.
With 230.000 Celo the team can run a series country wide of activities such as, hackathons, discussions and demos to build Fiat Liquidity Provider solutions using cUSD.
Then, use 250.000 Celo to boostrap an MVP of a sustainable Fiat Liquidity Provider with a competitive service that can be easily used by Retail Non technical Users. Basically, competing with Neo banking digital cash services.
Beyond the Retail Faced approach.
Focusing on business and private actors ends up in the same problem: The need for a local market for fiat and stablecoins. Creating a defi solution for a soft pegged cCOP market is the easiest and lightest boostrap for this proposal.
In both cases, the Fiat Liquidity Providers will effectively profit from the arbitrage and will end requiring a fully onchain cCOP market to simplify the arbitrage operation.
There’s successful cases of brokers in Colombia profiting from arbitrage by using solutions such as CEX platforms. Providing a DEFI solution effectively creates a decentralized alternative liquidity market for local arbitrage entities.
Moving forward
This proposal, the cCOP, is the right solution for the right problem, the current plans takes a more difficult approach by jumping straight into a new stablecoin without a proper product research step.
Additionally, rather than a multisig, the budget should be managed by a attestation based contract that unlocks portions of the budget as the community validates the performance of the team.
My take is on drafting this proposal and re discussing the roadmap and quickstart strategies, to find cheaper and faster insights, feeding bolder and bigger strategies witch such a budget commitment.
Notes on other comments
Comments by @hhe
Fiat Liquidity Providers could be a good experiments to create
an onchain cCOP market.
Working on digital cash use cases will set the foundations of the cCOP adoption. Since its a product that’s already market fitting.
Comments by @LuukDAO
Liquidity asking should be the last step of the process, where the Celo Treasury can minimize risks by investing in a well tested solution.
3 Likes
Hello everyone, thanks for the coments and feedback in this proposal. I would love to have some thougths of @rene_celo @Xochitl @marek @Markus @olektronisch @bowd @tim @roman @olektronisch @ericnakagawa and more 
lets keep this conversation going and make something amazing for Celo Community.
I will try to recap before Governance Call and answer all the questions.
1 Like
In answer to this ponit @LuukDAO I can make it clear for you:
My name is Camilo Hoyos, known to many as Pin0x. Today, I’d like to provide a more comprehensive introduction. Over the years, I’ve been at the financial and administrative helm of various blockchain-based companies. I’ve also managed personal and private resources, particularly in liquidity funds, with the aim of preserving and consistently generating long-term value.
Moreover, I had the honor of serving as the financial administrator of Colombia’s pioneering crypto club, HashHouse, which provided me with a hands-on understanding of the financial intricacies within the crypto and blockchain space.
In Adition, I’ve had the privilege of setting up the foundation of Blockchain Foundation Latam. This experience has further enriched my knowledge of blockchain technologies and their financial implications.
2 Likes
Hey !
We sincerely appreciate your insights and perspectives, which have led us to carefully re-evaluate certain aspects of our proposal. Constructive criticism is key to refining our approach, and we are grateful for the opportunity to address these points and enhance the proposal accordingly.
While we may not be a conventional company, our team comprises individuals who have collectively contributed to various successful initiatives. We have established a clear organizational structure with well-defined roles and milestones that each member is committed to achieving. Furthermore, we are dedicated to providing regular public updates within the governance framework, ensuring transparency throughout the project’s duration.
Let’s clarify more about roles, individuals and team responsibilities:
- @0xj4an: The project leader would be responsible for overseeing the overall execution. They would be responsible for setting the team’s goals, developing a timeline, and ensuring that the project stays on track.
- @pin0x1611: The treasury is tasked with managing liquidity and optimizing the balance of liquidity pools in the DEX to uphold the treasury’s value and maximize returns. Through careful monitoring and strategic adjustments, it aims to ensure stable and profitable operations while facilitating secure and efficient daily transactions with cCOPs.
- @londo: The advisor will provide strategic guidance and leverage expertise in the cryptocurrency industry and Colombian innovations, ensuring that product expansion remains compliant with local regulations. Furthermore, the advisor will offer valuable insights to facilitate the project’s adherence to regulatory standards and industry best practices. With over 15 years of experience in growth and operations, coupled with a strong track record in spearheading Binance’s expansion in the region, the focus will primarily center on fostering B2B partnerships and driving the development of cCOP expansion.
- @Ximemonclou: The legal advisor would be in charge of giving legal advice and arguments to validate that the commercial operations with the cCOP are valid and permitted from the point of view of Colombian regulation.
- @Wabisabi and @Miltonhenao: The business developer would be responsible for building relationships with businesses and organizations in the four principal states. They would be responsible for educating businesses about the cCOP and its benefits, and for helping businesses to integrate the cCOP into their operations. Colombia is a very big territory and with different cultures, we need to make different processes in each territory and we think about having 4 different zones abroad for development.
*@0xflypeztic: The Social Management would be responsible for creating and executing a marketing campaign for the cCOP. They would be responsible for raising awareness of the cCOP, educating people about its benefits, and encouraging people to adopt the cCOP.
Note: We’re also looking for Business Developer (Center) profile. Open to anybody here to apply and be part of this project.
We have taken your feedback to heart and have made amendments to the proposal to explicitly outline the responsibilities, roles, and organizational structure of the group. Our aim is to ensure complete transparency, clarifying the connections and roles within the team for the benefit of the community.
Marketing Plan Budget ($276,000USD - 690,000 Celo)
| Item | Team Member | Description | Rate | Duration | Budget |
|---|---|---|---|---|---|
| Project Leader | Juan Giraldo | Overall project management, setting goals, and coordinating efforts across the team | $2,000/month | 24 months | $48,000 |
| Advisor | Londo.eth | Provide strategic guidance and expertise in growth and the cryptocurrency industry and Colombian innovations, expanding products to align with local regulations. | $1,500/month | 24 months | $36,000 |
| Treasury Management | Pin | Oversee the financial operations of the project, including managing the reserves, ensuring sufficient liquidity, and optimizing the treasury for growth | $1,000/month | 24 months | $24,000 |
| Legal | Ximena Monclou | Responsible for the legal advice of the project and the defense of the interests of the project before different authorities and people. | $500/month | 24 months | $12,000 |
| Business Developer Lead - Bogotá | Wabisabi | Responsible for establishing partnerships with local financial institutions, businesses, and other stakeholders. They will play a key role in ensuring the adoption of the $cCop in the Colombian market. | $1,000/month | 24 months | $24,000 |
| Business Developer (Center) | TBD | Responsible for establishing partnerships with local financial institutions, businesses, and other stakeholders. They will play a key role in ensuring the adoption of the $cCop in the Colombian market. | $1,000/month | 24 months | $24,000 |
| Business Developer (Antioquia) | Milton Henao | Responsible for establishing partnerships with local financial institutions, businesses, and other stakeholders. They will play a key role in ensuring the adoption of the $cCop in the Colombian market. | $1,000/month | 24 months | $24,000 |
| Social Management | 0xflypeztic | Focus on community engagement, managing social media channels, and creating content to educate and promote the Stable Coin. | $500/month | 24 months | $12,000 |
| Marketing and Activation Budget | Oversee marketing and activation budget for CELO’s cCOP campaign, implementing strategic allocation for maximum impact and adoption. (Travel expenses to different locations of the country, merchandise, venues, food.) | $3,000/month | 24 months | $72,000 | |
| Total | $276,000 |
Certainly, in terms of the marketing and activation budget, we are dedicated to ensuring complete transparency. We understand the importance of accountability and intend to provide regular, detailed reports outlining our expenses and budget allocations. These reports will be disseminated through the movements recorded on the multisig, enabling the community to closely track the flow of funds and understand how resources are being utilized.
During the initial six months of our operation, our primary focus will revolve around establishing strategic partnerships within the B2B sector. By collaborating with existing ramps and relevant industry players, we aim to fortify and expand the adoption infrastructure for our initiative. These partnerships will enable us to leverage existing networks and tap into established user bases, facilitating a more seamless integration process for widespread adoption.
Furthermore, by prioritizing B2B partnerships, we can lay a solid foundation for building a robust ecosystem that supports the seamless onboarding and offboarding of users. This approach not only enhances accessibility but also fosters a user-friendly experience, encouraging a broader audience to engage with the platform.
Regarding the concern about the anonymous Treasurer, we want to direct your attention to the statement made by Camilo, clarifying the role and responsibilities of the Treasurer in our initiative.
And last but not least:
We acknowledge your recommendation for a smaller initial budget. While we believe that a 6-month period might not be sufficient to fully implement our proposal, we have made adjustments to the allocated liquidity to initiate this pilot program with a comprehensive perspective. Additionally, we are committed to providing transparent reports every six months, including updates on the multisig, milestones achieved, lessons learned, and any necessary adjustments made along the way. Again, our primary focus will revolve around establishing strategic partnerships within the B2B sector.
We extend our heartfelt gratitude to the entire community for your support, valuable feedback, and insightful comments. Our primary goal is to execute this initiative in a manner that aligns with CELO’s core values while prioritizing the best interests of the community. We remain steadfast in our commitment to uphold responsibility and transparency throughout this project.
cCOP Team
4 Likes
A Colombian stablecoin is a dream that has been pursued for several years, the main deficiency is that the proposals usually came from a private and not from a community, in this case it is different, Celo, is building a strong community first and then a transactional currency, we fully support this initiative, count on Ganaderointeligente.com and its community.
3 Likes
History of the Proposal
I will start by mentioning that since the day I knew the blockchain of Celo and the wallet of Valora 
and the possibility of sending money from one wallet to another just with the phone number, I said:
"This is Nequi in Blockchain, if we had a local currency in this wallet everyone would use it as they use Nequi " 
But when I asked Valora about this possibility to have a new local currency and have it in the wallet, the answer was that the App could be configured to show balances in local currency and so it would show the balance in Colombian Pesos.
But this does not solve the loss of value of the money that people put in their wallet, because for example if today you buy COP$100.000 it would be approx US 25 at a rate of COP$4.000/US and if tomorrow the exchange rate rises to COP$3.900/US people would see in their wallet the value of COP$97.500 which would mean that for example they already have one less Coca Cola 
to buy. 
COP/USD rate 360 days graphic
This situation for the common people would simply take it as an unsustainable situation and they would not want to use their wallets to keep their daily money and even less to use it in stores to receive payments, etc. because a store selling e.g. US $1,000 per day could not assume these small changes in the exchange rate.
When I finally achieve Valora understand about the diference of simply showing balances in Local Currencies and have the real Local Currency the challenge moved to create a local currency, but to be able to do that I have to backup the currency or ask Mento Protocol to make this new local currency, this was a huge challenge and I tried to convince them to do it and convince about the usability of this new currency.
That’s why one year ago I posted the idea in the forum in March 2022:
But we also have another situation, forum is a big barrier for normal people to participate and express their necesities, and more difficult in English, so I decided to make a post in Spanish in Oct 22:
I thought this mission I need to leave it away because nobody is gonna hear me, maybe Celo is focused in other countries, but one day @marek conect me with @Markus and @olektronisch from Mento Labs and I start explaining them the possibilities, but they said at the beginning they are focused on the development of Mento V.2 and with this new protocol communities will be able to mint their own local currencies. 
Waht a wonderfull notice, but I need to wait until they made the whole development of this new protocol.
Some of this steps began near December 2022:
Mento Protocol Allignment
Few days ago Mento posted the article in Mirror:
How do we create a more user-centric DeFi with local stable assets on Mento?
And the article encourage communities to develop new Local Currencies, that’s a great timming not planned but give me a lot of happiness because we are thinking in the same way and this is super important, is mission alligned by Celo and his communities.
Why ask Community Fund for this budget
Time ago I was learning how Community Fund work and what are the funds used for and I have seen lot of proposal passing and receiving funds from the Community Fund to make events, funding the born of some DAOs, refilling the Prezenti Fund to be able keep runnig their Grants Program, etc…
So, why not ask Community Fund for a budget to create a new Stable and develop the Celo Ecosystem in Colombia looking for the mass adoption
That’s why I decided to ask Community Fund for a budget to be managed by a Team of people that really cares about Colombian People and really want to help people understand more about Cryptocurrencies and help them with their financial situations, alligned with the Celo Vision “Our mission is to build a regenerative digital economy that creates conditions of prosperity for all.”
And the best part is that the 75% of this budget we are asking for the proposal is not gonna be offramped or swapped, so Celo price is not gonna be Impacted, because the 75% of the Budget is for Collateral locked in Mento Prtocol, Liquidity locked in Uniswap, and Liquidity moving in CEX (On/Off Ramps) bringing a lot of inflow of money into Celo Ecosystem.
Is not expensive 
The Marketing Plan for Two Years cost only US 276.000 for two years of a whole team of eigth (8) people working in this comitment, very experienced and well knowed people in Colombia Crypto Ecosystem.
How much it would cost for Celo Foundation to have this same Team with the same passion and dedication working to achieve this goal? Maybe US 768,000 - US 960,000 
For more than six (6) months I were talking to a lot of people asking about their opinions and ideas, and I found the perfect team to make this challenge a reality, Colombian people needs a Local Currency they can trust and use for their daily transaactions, and we have a whole Ecosistem that allows us to make it happen. 
Returning Funds
We are also thinking about giving those funds back or maybe transitioning into a cCOP DAO in future and keep developing Ecosystem around the cCOP adoption, for example developing our own Microcredits platform 
and help with the Financial Inclusion purpouse of Celo. 
who knows…
Colombian 
Infraestructure for developing the proposal
Just a few examples of the infraestructure Colombia already has, they are not all of them, but we can have some proximity and we can work togheter with them:
- Cobru: Has integrated the most commons ways of payments in Colombia that everyone use, and has also the possibility to make payments to the most common services and suscriptions in Colombia. They already have the possibility to use cUSD but what about if we said them they can use the cCOP?
- ElDoradoP2P: a SMS P2P platform that could be super affordable for sending remittances between Venezuela 
and Colombia :
- CocoPagos: Venezuelan On/Off Ramp with the possibility to use a Debit Card, they use Celo Blockchain so it’s easy to integrate the new cCOP
- Kravata: On/Off Ramp focused on provide solutions for Bussines.
Governance process review
While it is true that the governance process must be reviewed and adjusted, this does not imply that the proposals submitted should stop and wait for all these changes to take place, an example of this is the proposal submitted to vote On-Chain by cLabs yesterday Celo Governance by Staking Fund.
4 Likes
In my perception, the most important issue that the cCOP proposal addresses is that it can help bank a significant portion of the Colombian population. While it’s a challenge, people will ultimately adopt the measures that are most convenient for them. Asset transfers on the Celo blockchain are user-friendly for the general public, and the potential for growth in DEFI solutions that use cCOP will benefit the dynamics of lending, investments, and more. A good stablecoin project pegged to the Colombian peso has the opportunity and potential to change the fintech dynamics of the country.
3 Likes
I’m fully supportive of this proposal!
very well laid out plan and the impact makes sense.
3 Likes
Importante propuesta para poder llevar a muchas personas la posibilidad de contar con una moneda estable y que se pueda usar para generar bienestar e impacto social
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Integration of cCOP, supported by Mento Labs, could pave the way for an enriched loan ecosystem for Colombian businesses. For example, platforms such as [About Us - Efy Finance](https://Efy Finance) and https://efinti.com/ have already disbursed over $14.5M in invoice factoring allocations to SMEs within Colombia.
Efy Finance and Efinti are sophisticated platforms enabling users to realize substantial returns (potentially earning up to 24% annually). These returns are derived from stablecoins that are anchored and collateralized by the tokenization of genuine financial assets within the commercial sector, primarily debt instruments (Lending to SMEs). The return on investment for users is derived from a computational model that tailors the Fixed Pool’s magnitude based on the collateralized demand. This model provides both fixed interests for time-bound operations and variable interests for operations without a predetermined duration.
The prevailing banking system in Colombia is constrained by its limited offering of high-yield financial products, liquidity flexibility, and an entry barrier that often demands an initial investment of approximately $3000 USD. For instance, when we examine the best Certificate of Deposit (CDT) products in Colombia, as highlighted by https://mejorcdt.com/mejores-cdt-octubre-2023, it becomes evident that investors are expected to lock in their capital for a minimum of 720 days (roughly 2 years) to achieve a return of 13.6%. Considering Colombia’s current inflation rate of 11% (as of Oct 26, 2023), the effective real interest translates to a mere 2.6%. Furthermore, during this period, the invested capital remains inaccessible, and premature withdrawals are typically prohibited.
The introduction of an open cCOP can revolutionize this space by not only introducing more lucrative and accessible financial products for Colombians via platforms like Efy Finance, but also by enhancing financial inclusivity with respect to credit. This is in line with Celo’s foundational mission.
4 Likes
The Bank of the Republic of Colombia has unveiled an intriguing proposal: the creation of a Central Bank Digital Currency (CDBC). Look this link: Colombia va a tener moneda digital, según Ricardo Bonilla, ministro de Hacienda - Sectores - Economía - ELTIEMPO.COM.
It’s a visionary move, one that signals the recognition of the ever-evolving financial landscape. However, it’s important to scrutinize this proposal and explore alternatives that could potentially offer even more significant benefits for the Colombian economy and its people.
The bank’s desire to maintain control over the financial sector is understandable, but perhaps it’s time to embrace a more innovative and decentralized approach. Instead of a CDBC, we could consider the idea of introducing a decentralized digital stablecoin, aptly named the $cCOP, pegged directly to the Colombian peso.
Mento, as the cornerstone of this digital stablecoin, represents a unique opportunity for Colombia. Its stability and value can provide a strong foundation for the $cCOP, ensuring its resilience even in turbulent economic times. This is a critical aspect that distinguishes it from a traditional CDBC.
The benefits of a decentralized digital stablecoin like $cCOP are far-reaching. It allows for greater financial inclusion, offering access to the unbanked and underbanked populations. This, in turn, fosters economic growth and empowers individuals to participate more actively in the financial system. It also promotes autonomy as it reduces dependence on centralized financial institutions and intermediaries.
Furthermore, introducing a digital stablecoin aligns with the global trend of embracing blockchain technology and cryptocurrencies. It positions Colombia as a forward-thinking nation, ready to harness the immense potential of these innovative technologies.
As we explore this idea further, it becomes apparent that time is of the essence. The global financial landscape is evolving rapidly, and we must act swiftly to seize the opportunities before us. A well-executed $cCOP can not only serve as a powerful tool for financial inclusion and autonomy but also enhance Colombia’s reputation as a pioneer in the world of digital finance.
In conclusion, the proposal to create a decentralized digital stablecoin, the $cCOP, backed by Mento, is a concept that deserves serious consideration. It represents an opportunity to usher in a new era of financial empowerment and prosperity for all Colombians, under rules that reflect the spirit of the times and the aspirations of a nation looking toward the future.
In addition, the National Tax and Customs Directorate (DIAN) recently published Concept No. 100202208-1621 of October 17, 2023. This new concept defines cryptoassets as “certain assets, cryptographically secure, whose use or ownership is frequently registered in a chain of blocks (#blockchain) known as a public ledger (distributed ledger) and whose main objective is to carry out transactions quickly, safely and without any intermediary".
In Colombia, then, we are no strangers to the concepts of tokenized assets with which we can exchange goods and services if the parties so agree. Then it’s time to act quickly to become more financially inclusive!!!
They do not believe that the time has come to do different things to see new realities
2 Likes
At dotlabs(), we consider this idea to be of utmost importance, as it can significantly contribute to increasing the adoption of cryptocurrencies among people in Colombia. One of the most significant challenges when addressing these types of concepts and their global impact is usability. If we can develop a stablecoin, we will enable a greater number of people to freely contribute to value generation in the ecosystem, as there will be a more natural way to transact value in this environment.
At dotlabs(), we are committed to fostering open and quality education. We aspire to contribute to the awareness of initiatives like this, and eagerly await the successful implementation of this proposal!
2 Likes
Correctly this is the idea with this project:
Achivement more crypto adoption and we know the best way is whit stablecoins but not centralized and totally controlled by the governements.
The financial system must be a universal right and easy to use for everyone.
1 Like
Since Colombia is globally in cryptocurrency transactions, having a $cCop that genuinely benefits users sounds like a great idea. I’m all for this initiative and think it’s worth diving into to see what’s really in store, Optimism surrounds the future as these positive trends address key challenges.
2 Likes
I wholeheartedly support the proposal to establish a cCOP as a pivotal use case to enhance the adoption of decentralized financial technologies in our country. I firmly believe that implementing a cCOP stands as one of the crucial initiatives for the Celo Network, particularly in catalyzing the mainstream embrace of blockchain technology.
As the Founder of Indahouse (https://Indahouse.com.co), one of the 6 startups in the inaugural batch of the Celo & Colledge incubator program, our aim is to surpass $40 million in transactions by the end of 2027. Collaboration with the Celo organization would immensely contribute to laying the groundwork for widespread crypto adoption, and the cCOP proposal represents one of the most significant strides toward making this a reality.
2 Likes
Wonderful project and Idea.
We works with several cocoa farmers in Colombia and it would be great to add ReFi services.
Check it here: https://forum.celo.org/t/empowering-cocoa-and-coffee-farmers/7142
I will be in Bogotà till 18/01. Please if interested DM me
Best
3 Likes
Would love to connect and chat about synergies between the diferent local nodes, your project and this proposal.
At ReFi Colombia we understand that local communities in Colombia are used to think in their local currency and that is a blocker to get wider adoption of Blockchain, that’s why we trully support this idea and integrating it with projects like @refimedellin Credit Platform and your project is a hit in the Web3 adoption in Colombia
Feel free to jump into our telegram or any other social network and reach out to us, we will be super happy to talk to you.
3 Likes