Colu (CLN) Ends its Blockchain Project, Token Buyback Begins Shortly | BTCMANAGER
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Colu (CLN), a distributed ledger technology (DLT) project that claims to be focused on promoting positive economic and social change in local communities, has decided to end its blockchain project and has promised to buy back all its native CLN tokens sold during its initial coin offering (ICO), according to a press release on August 12, 2019.
Colu (CLN) Calls it Quits
In a first of its kind, Colu, a Gibraltar-based blockchain project from the stables of the Colu Group, dedicated to helping local communities ease their financial burdens via its CLN altcoin, has decided to call it a day and has offered to repurchase all its tokens sold to investors during its ICO held in February 2018.
As stated in its press release, in the past few months, Colu has partnered with several municipalities around the world and it now wishes to pursue other endeavors that may not align smoothly with its existing blockchain project.
Colu says its new partners include the Belfast City Council, which aims to use its native Belfast Coin to reward residents when they carry out certain positive acts like shopping at local stores, promoting healthy living, undertaking civic activities and more.
Also, the Colu Group claims it has partnered with the Israeli city of Tel Aviv-Yafo, which also rewards residents for patronizing and strengthening local startups via the Colu app.