Well hello 2022! I’ve been using this week to reflect on this past year, and on my own journey working in the crypto/web3 space, so sharing a few thoughts here…
2021 was a wild ride for Web3, punctuated by greater adoption of NFTs & crypto’s market cap reaching over a trillion dollars. Consumer awareness of crypto has never been higher – & we’re still early! I’ve also noticed many folks in my network reach out to learn more about working in crypto & web3 – if you’re also crypto curious, please reach out.
As for my own story, I joined crypto in 2020 (and Celo specifically) because I believed in the potential that blockchain tech could be as transformative as the internet & mobile phones. Additionally, I wanted to make this complex tech accessible to more people, and demonstrate it’s value beyond investing (again, these are the early days!). There’s still a lot to be done, but nearly 2 years later, it’s amazing to see how much the narrative has changed from just crypto / money to now a broader term “web3” that points to a new internet (and a future digital economy). ICYMI, this economist article by one of Valora’s investors does a nice job of summarizing this shift in narrative.
Where does Valora fit in? Well in order to access things in web3 and eventually this new internet, you’ll need to have some sort of wallet to sign in, transact, hold/store things, etc. There are many wallets to choose from, however, not many are that easy to use, and transaction fees can be prohibitively expensive (imagine paying $50 a pop to do anything on the internet!). Valora + Celo provide a new way to crypto – transaction fees are less than one cent and you can use Valora on any grade smartphone, even with a not so great internet connection (important for many people in less developed areas). We’re also committed to making Valora as user friendly as possible & will continue to do so for years to come.
With that said, Valora is now being used by hundreds of thousands of people all around the world, many of whom are first-time crypto users. Programs like the Valora Supercharge rewards program have accelerated crypto adoption in new markets, which has been exciting to see! It’s also been inspiring to see how Valora is used to open up new economies and empower communities worldwide. Two of my favorite stories from this year are:
In Kenya, the World Food Programme, Corsali + Celo partnered to open up a new gig economy market by earning income through work that can be done on their mobile phones. Through Celo & Valora, this cohort earned their paychecks in crypto and in real-time. Additionally, with an integration w/ mPesa, it also offered a way to use their crypto earnings on everyday expenses! You can read more about this community here.
High-impact projects like impactMarket use Valora to distribute millions of dollars in unconditional basic income to people in over 20 countries, lifting tens of thousands of people out of extreme poverty. Anyone (including you) can support these communities by donating cUSD (via Valora) AND you can also earn token rewards by doing so! Learn more about impactMarket & the great work they are doing here: https://www.impactmarket.com/. Very cool to see new incentive structures emerge that encourage social impact!
2021 was also the year that Valora became more than just an app, but it’s own company. We publicly launched Valora (the app) in February ‘21 and announced Valora (the company) and our Series A in July. It’s been incredible to gain the support of world-class investors + cultural icons to believe in our vision and mission– I couldn’t be more grateful for the group that’s come together to back our team, so thank you to anyone who has supported us along our journey.
In this transition into our own company, we’ve expanded our team to 35 incredibly talented Valorians 🖖 across 7 countries. While building a company during another year of a pandemic has its challenges, I’m proud of the culture and team we’re building, and have always believed in the power of diverse and global teams. We have about 15 open roles at the moment across tech & biz, so if you’re looking for something new this year and to join a nascent & exciting industry on a team that’s doing big things, check out our careers page (https://valoraapp.com/careers) or drop me a note.
None of this would have happened without our incredible Valoraian team, supporters, and the Celo community. A special thanks to the Celo founders (Marek, Rene, Sep) for their continued partnership & support in turning this vision into reality.
Thank you all for an unforgettable 2021! And these are still early days… our adventure has only just begun. I can’t wait to see what unfolds for Valora, Web3, & the world in 2022, so watch this space for more exciting things to come.
Let’s make 2022 another milestone year. Happy New Year!