Colu has been a dynamic player in the blockchain space the last 3 years and it is operating local economies in 4 metropolitan areas in UK and Israel with almost 100k users and 70k monthly transactions.
Using Colu’s digital wallet app, people can go shopping at participating businesses and transfer community currencies (pegged to fiat currency) to one another.
Colu wants to bridge the gap between the cryptocurrency market and everyday people by integrating cryptocurrencies into its digital wallet.
Colu’s token will be called CLN – Colu Local Network- The CLN token will offer access to Colu Local Network for payments and issuance of community currencies.
Each buy made at merchant terminals will transform a percentage of this fiat to community money and reward them to to the users and merchants – onboarding them as stakeholders, bootstrapping the neighborhood economy and incentivizing neighborhood expenses.
The CLN will provide liquidity the community currencies and can behave as a book allowing to move between community currencies through the CLN.