Velo is a blockchain based financial protocol enabling digital credit issuance and borderless asset transfer for businesses using a smart contract system.
Velo’s core mission is to build a decentralized settlement network that allows its Trusted Partners to securely transfer value among one another in a timely and transparent manner. Velo’s initial focus would be on business partners in the remittance and money transfer spaces in Southeast Asia followed by the wider Asia Pacific region and beyond.
Velo opens new opportunities for businesses that are seeking innovative ways to serve the unbanked and underbanked populations across the global.
The Digital Reserve System is an algorithmic rule set implemented by smart contracts that manage various aspects of the Velo Protocol. Its goal is to foster secure digital credit settlement by managing the pools of VELO token collateral backing the digital credits through a rebalancing mechanism.
The Velo Protocol is a value transfer engine that will initially consist of two components: a Digital Credit Issuance Mechanism and the Digital Reserve System. Together, these components will allow Trusted Partners to tap into the reach, operational efficiency and transparency of the Velo Protocol and its underlying distributed ledger technology. The Velo Protocol will enable multiple business use cases that are all based on its core function: that of issuing collateral backed digital credits that can be used for frictionless value transfer.
The Velo Protocol allows agents of Trusted Partners to connect directly and digitally to one another instead of going through the multiple settlement layers of the tradional financial system, thereby saving costs, improving transparency and speeding up the entire process.
Through Velo, lending has a chance to be
transformed, streamlined, digitized,made
cheaper and more efficient by bypassing the
traditional banking infrastructure.
The Velo Protocol can issue bespoke digital
credits to suit the needs of any business
without burdening corporate users with
having to create and manage their own
digital credits.
The Velo Ecosystem has the potential to link the different markets in Southeast Asia into one widespread payment gateway with digital and physical payment points.
Velo seeks to improve the fungibility of loyalty and gift points issued by Trusted Partners by enabling secondary market for points and digital credits that are issued by the Velo Protocol.
When it comes to solving the problem of the limited adoption of blockchain technology in the current landscape of financial services, Velo proposes a next generation financial protocol to aide in the issuance of collateral backed digital credits for real world use cases.
See the latest technology, product, and commercial developments of the Velo project.
Jed McCaleb is an American programmer and entrepreneur. He is a co-founder and the Chief Architect of Stellar. Prior to Stellar, McCaleb founded and served as the CTO of Ripple.
David Mazières is a
professor of Computer
Science at Stanford
University, where he leads
the Secure Computer Systems
research group. His research
interests include Operating
Systems and Distributed
Systems, with a particular
focus on security. He is a
co-founder and serves as
Chief Scientist at Stellar
Development Foundation,
where he developed the
Stellar Consensus Protocol
(SCP). In 2014, he
co-founded Intrinsic, Inc.,
whose product protects web
sites from buggy and
malicious node.js
dependencies.
Mazières received a BS in
Computer Science from
Harvard in 1994 and a Ph.D.
in Electrical Engineering
and Computer Science from
MIT in 2000.
Paul is a partner at Pantera Capital, a San Francisco-based investment firm focused on blockchain technologies. Paul also sits on the board of OpenToken and BitOasis. He is a mentor at The House Fund, Boost VC, Alchemist, and is an advisor to Orchid, Origin, and Icon.
Robert Morris Townsend is an American economist and professor and the Elizabeth & James Killian Professor of Economics at the Massachusetts Institute of Technology. He has also been a consultant for the Federal Reserve Bank of Chicago and the World Bank.
John Ng Pangilinan is a partner at Signum Capital, a Singapore-based firm that exclusively consults with blockchain-enabled companies. He holds advisor roles in Kyber Network, Republic Protocol, Sentinel Protocol, Traceto.io and is a founding member of the Aelf Innovation Alliance.
Mr. Lu co-founded UTStarcom under its prior name, Unitech Telecom, Inc. He has served as UTStarcom's President and Chief Executive Officer and as a Director since June 1991 and serves as the Chairman of the Board since March 2003. He also served as President and Chief Executive Officer of Kyocera Unison, a majority- owned subsidiary of Kyocera International, Inc.
Tana is the CEO of KASIKORN LINE, a joint venture company between KASIKORN Vision Company Limited, a subsidiary of KASIKORNBANK, and LINE Financial Asia, a subsidiary of LINE Corporation. Tana Pothikamjorn brings with him over 7 years of experience leading digital banking for Siam Commercial Bank. In 2018, Tana received Digital Banker of the year award from The Asset. Prior to returning to Thailand, Tana had extensive experience working for leading technology firms in Silicon Valley.
Allen is the Co-Founder & CEO of Everest Ventures Group. He is also a ex-VC where his investments have grown & become unicorns including Zoox and Telegram.
Chen is a co-founder of Aelf, the next generation multi-layer parallel computing distributed network. He’s also an advisor FBG Capital and Senoir Consultant at Roland Berger. Chen holds a Master of Engineering from MIT.
Will is the Investment Director of Ausvic Capital and an Advisor at Huobi. He is the former Head of BD and Investment (North America) of Huobi Eco. Will is a serial entrepreneur and angel investor. He previously served as investment manager at HCM Capital (Venture Arm of Foxconn). Will graduated from the University of Illinois at Urbana-Champaign.
Chatchaval is a serial investor, executive and entrepreneur. He is a member of the board of directors at True Corporation, Thailand's leading Telecom Group. Chatchaval is a family member of the CP Group, the largest conglomerate in Thailand, and also holds top executive positions in major public and private corporations. Chatchaval has founded many successful financial services including Aeon Thana Sinsap, one of Thailand's largest Consumer Finance companies and Finansia Syrus, a leading Securities House. He is also the current owner of US based Fortune Magazine.
Tridbodi is a serial tech entrepreneur and investor. Tridbodi is the Vice Chairman and Group CEO of Lightnet, a revolutionary settlement and clearing network. Also, Tridbodi is a Co-Founder of Money Table Public Company Limited, a leading payroll on-demand start-up. He is a Venture Partner at an Indonesia-based Kejora Venture and was an ex-committee member of Thailand Internet Sharing Policy under the Ministry of Digital Economy. Tridbodi holds a MS in Management Science & Engineering and an MBA from Stanford University.
Mike is the newly appointed CEO of Velo
Labs. Mike was CEO of Interstellar, a
technology company revolutionizing financial
services, with a current focus on delivering
faster, cheaper and more reliable cross
border payments. He was formerly the founder
and CEO of Zelle, the largest person to
person payments network in the United
States.
He is on the Board of American
Savings Bank, and was formerly President of
OFX North America, Head of payments at Wells
Fargo and worked at McKinsey & Company.
Mike graduated with distinction from
both Stanford University for his
undergraduate engineering degree and from
Harvard Business School for his MBA.
James was newly appointed CTO of Velo Labs. James was previously CTO of Interstellar. He was born and raised in the United States and studied electrical engineering and computer science at the University of California, Berkeley. He now lives in San Francisco California with his wife and two children.
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