Hot off their highly successful February crowdfunding event, the Israel-based Colu Local Network now has their native token (CLN) meandering its way through the cryptoverse with some exciting developments set to be released in June.  

Colu is a project that grants communities the power to issue their own tokens, enabling stakeholders to benefit from a myriad of reward schemes arising from the use of community currencies.

Originally founded in 2012, Colu has developed from a decentralized payment network into a platform with much greater possibilities than its counterparts, as a result of its emphasis on public, open-source infrastructure. The network allows communities to work with developers to integrate products and services, such as wallets, into the network.

Communities – which may be businesses, merchants networks or consumer clubs – may be the central party in Colu’s Network, but the network’s ecosystem is kept alive by the participation of the other stakeholders: financial gateways, developers, merchants and end-users. Each of these stakeholders are rewarded in either CLN tokens or community currency fees.