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

- Speakers: [Rene Reinsberg](https://streameth.org/speakers/rene-reinsberg)
- Channel: [ETHGlobal](https://streameth.org/ethglobal)
- Date: 2023-10-09
- Duration: 11:50
- Topics: Celo, Ethereum L2, Rene Reinsberg, Celo Layer 2, regenerative finance, ReFi, mobile-first blockchain, Celo migration, decentralized sequencer, EigenDA, Plumo, gas in stablecoins, universal basic income, GoodDollar, ImpactMarket, microcredit, Plastiks, carbon offsets, smart wallets, low gas blockchain, sustainability crypto, FC Barcelona NFTs, Pragma Paris 2023, Web3 for real world, Celo Ethereum bridge, Celo validator sequencer, DeFi for all
- Watch: https://streameth.org/watch/yt-optCCjCgWfI
- YouTube: https://www.youtube.com/watch?v=optCCjCgWfI

## Description

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

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🇫🇷 *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.

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X: https://x.com/Celo

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