Bitcoin innovator Colu looks to connect blockchains for central bank cryptocurrencies

Colu, the coloured coins protocol innovator, is focusing on the ways and means of issuing central bank cryptocurrency, having raised some $9.6m (£6.6m) in funding for the project.

The Series A round, backed by Aleph, Spark Capital, Digital Currency Group and former Thomson Reuters CEO Tom Glocer, follows a $2.5m seed round back in 2015.

Colu’s efforts have been buoyed by the recent Barbados central bank cryptocurrency experiment in which it took part with Bitcoin startup, Bitt.

Colu CEO Amos Meiri told IBTimesUK: “What people want is a local currency. We realised there is a real need for a new form of currency. We started working with different cities around the world together with a new strategic investor. But we can’t disclose his name – a leader in the world of currencies.”

There has been quite a lot of interest in the idea of central banks issuing some kind of cryptocurrency, and some bold moves in this area are being driven by the likes of eBay’s Pierre Omidyar and his philanthropic investment vehicle the Omidyar Network.

Colu has seen many use cases being built on top of its platform, which denotes assets with watermarked bitcoin, including stocks, real estate and music.

Meiri said that

Read more ... source: TheBitcoinNews