Rene Reinsberg I Celo's Return to Ethereum | Pragma Paris 2023

Mon, Oct 2, 2023, 12:00 AM

Rene Reinsberg, Co-Founder of Celo, takes the stage at Pragma Paris 2023 to unveil Celo’s proposal to return to Ethereum as a Layer 2. In this talk, Rene walks through Celo’s journey since launching its mainnet three years ago and highlights how the platform’s mission of building a regenerative, mobile-first, and human-centered financial system has led to real-world usage across the globe. He presents standout projects like GoodDollar, ImpactMarket, and Plastiks, showing how Celo is being used today to deliver universal basic income, decentralized microcredit, and plastic offset-backed NFTs. With over 600,000 smart wallets deployed and growing active usage, Celo is focused on increasing access and usability for users around the world. Rene explains how unique Celo features such as gas fees in stablecoins, low-cost transactions, and a regenerative finance (ReFi) stack were critical to its growth—and how recent advancements like EigenDA and decentralized sequencer design now make it feasible to migrate to Ethereum L2 without sacrificing performance. He outlines the architecture for Celo’s Layer 2 vision, leveraging its existing validator set for decentralized sequencing while maintaining support for mobile devices through innovations like Plumo. 00:00 Intro and Celo’s Ethereum L2 announcement 00:37 Why “return” to Ethereum? A look at the journey 01:13 Overview of Celo’s origin and mission 02:22 Limitations of Ethereum in 2017-2020 03:03 Gas fees in stablecoins and mobile UX design 04:07 Real-world use cases on Celo 04:42 GoodDollar and universal basic income 05:20 ImpactMarket and on-chain microcredit 06:24 Grassroots Economics: local currencies in Kenya 07:35 Plastiks and FC Barcelona plastic-offset NFTs 08:43 Growth of the Celo ecosystem and active users 09:50 Why now is the time for Celo to move to L2 10:20 Proposed L2 architecture using EigenDA 10:54 Decentralized sequencer via Celo validators 11:30 Invitation to developers and call to action _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 🇫🇷 *Pragma Paris* Pragma Paris took place at the Pavillion Vendome in Paris on July 20, 2023, and was an in-person summit for builders and leaders in the web3 ecosystem. Watch the full Pragma Paris 2023 playlist here: https://youtube.com/playlist?list=PLXzKMXK2aHh42f0yI-hyeOCbNZpvV2fIT&si=Ez6ych6OAdn_sq1D ETHGlobal's Pragma series takes place in cities around the world, and is designed to be a different kind of event. Pragma is a one-stage conference with founders-only on stage, bringing together a small group of curated attendees and speakers to discuss the future of web3 and reflect on the past. Ever since we first introduced our new event series Pragma in Tokyo of the spring of 2023, we have been fostering a curated, global community of individuals who deeply care about web3. _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ ✅ *Follow Celo* X: https://x.com/Celo ✅ *Follow ETHGlobal* X: https://x.com/ETHGlobal​ Warpcast: https://warpcast.com/ethglobal Website: https://ethglobal.com YouTube: https://www.youtube.com/c/ETHGlobal _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _Are you interested in Ethereum development and entrepreneurship?_ 👉 Sign up for the next ETHGlobal event: https://ethglobal.com/events 🎁 Get exclusive access and perks with ETHGlobal Plus! https://ethglobal.com/plus 📣 Want us to throw an event in your city? Tell us where! https://ethglobal.com/city _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _