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DECENTRALIZED FINANCIAL SYSTEMS

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Deutsche Telekom (DT) has announced that it is investing an undisclosed amount in the blockchain payment platform Celo. The company also purchased an unspecified amount of Celo digital tokens to be used on the platform. Deutsche Telekom will be the first telecommunications company to join the Celo Alliance for Prosperity.   Celo is an open-source blockchain ecosystem that focuses on making decentralized financial (DeFi) systems and tools accessible via the smartphone. The Celo ecosystem includes a decentralized, proof-of-stake blockchain technology package, a native asset (CELO), two stablecoins (cUSD and cEUR) and the Celo Foundation Alliance of Prosperity. The company was launched in 2017 and has maintained a low profile in the crypto market. However, this has changed in recent months, in part due to the recent $20 million funding raised by blue venture capital firms, including Andreessen Horowitz.   This move by  DT represents their initial foray into and testing…