Colu has been an active player in the blockchain space since 2012. Our digital wallet app was launched in early 2017 and is now operating in 4 cities in the UK and Israel with 100K users and more than 70K monthly transactions. We are now adding the ability for any community to create a localized currency and use it as a reward for local consumption. The CLN is a payment system that is powered by everyday consumption. The network allows communities to issue their own currency and use it to incentivise merchants and consumers for buying and selling locally with fiat. The CLN aims to utilize the power of cryptocurrencies to create a better, more transparent payment system and strengthen the sense of mutual responsibility in the community. This encourages local spending and keeps more money circulating in the community, thus multiplying the local economic activity. The CLN token is the first currency attached to real life consumption. The token will be issued on the Ethereum network as an ERC-20 token and will provide access to the CLN network and will enable communities to bootstrap. It will also represent an index value of the community currencies issued on the network and provide instant liquidity to new currencies.
We want to bridge the gap between the cryptocurrency market and everyday consumers. We’ll bring it into the mainstream by removing the barriers to access, and by helping people trust and understand what we believe to be the future of money.
How will we do it? By connecting everyday purchases through our digital wallet app to a payment network that enables token based incentives.
Connecting Fiat Money and Tokens
Colu has been an active player in the blockchain space since 2012. Our digital wallet app was launched in early 2017 and is now operating in 4 cities in the UK and Israel with 100K users and more than 70K monthly transactions. We are now adding the ability for any community to create a localized currency and use it as a reward for local consumption.
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ICO Advisor | ICO Analyst | Blockchain Researcher Rated on Feb 7, 2018
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Very strong, sharp and engaged team. They have the same vibe and feel as google when they were a young scrappy startup. Great vision of creating decentralized communities that can interact and exchange tokens at the local business level. The goal of building a tool that allows neighbors to help each other with their mortgages is a noble and worthy goal. The fact that this company originates in an area that has a long history of solid financial management and keeping money within the community makes me bullish on the prospects of this ICO.
This is a HODL, not a flip. Group has extensive experience in blockchain and pioneers of Colored Coins. That said, adoption for community-based coins is an unknown at this stage.
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