Colu launched new local digital currency

New digital local currency helps to support local community and economy
22 June 2017   1263
Blockchain

Distributed database that is used to maintain a continuously growing list of records, called blocks.

Colu, enthuisiasts of a Blockchain, developers of a platform for creating digital, localized currencies, announced today the launch of its second currency in the UK – the Local Pound, East London.

Using the Blockchain technology, Colu develops digital currencies for territorial communities. By the mobile app-based platform, peer-to-peer and cutomer-to-business transactions are being held in safe environment. It supports local economies, independent bussines and trade, creates social capital. 

Colu has offices in London and Tel Aviv, gains funding from Aleph and Spark Capital.

Digital wallet app by Colu supports local economics by creating an easy and safe way for instant payments from a phone. Local Pound, East London provides local citizens with a digital currency to create stronger local economy and community.

Digital payments provide more safe and seamless transactions. Due to this fact, digital currencies and local payments are growing trends in the UK. The company creates a closed-loop economy that bolsters both the economic well-being and social fabric of the community.

Colu used an open-source and blockchain infrastructure to create digital version of "cash". It can perform large amount of safe transactions in real-time As a final result, Colu creates a true peer-to-peer economy.

When a customer supports local business, he supports his own neighborhood. Colu gives local businesses a digital toolbox to help them better compete with large retailers, including a business dashboard that replaces the need for point-of-sale systems. 
Since the start of Local Pound, Liverpool in 2016, over 16000 locals begun to use Colu app daily, making purchases at small local businesses such as bars, fitness clubs, etc. 

Colu has an experience in creating digital, local currencies in Israel and Barbados. It has around 50000 worldwide users that spends almost 1000000$ at local business thru the app.

Crypto Investor to File Lawsuit Against AT&T

Michael Terpin believes that AT&T helped scammers to still his $24M worth crypto
16 August 2018   109

In the Los Angeles District Court, a 69-page lawsuit was filed by BitAngels founder Michael Terpin against the American telecom giant AT&T. Terpin claims that the operator assisted fraudsters in "stealing digital personal data" from the account on his smartphone, which is why he lost $ 24 million in cryptocurrency, according to an official release.

According to Terpin, for seven months, there were two hacks. Initially, an attacker got access to his phone number without providing a password or correct identification data. Later, the phone number was used to steal crypto.

AT&T’s studied indifference to protecting its customers’ privacy and financial assets is a metastasizing cancer, threatening hundreds of millions of unsuspecting AT&T’s customers. Our client had no idea when he initially signed up, nor when later he was promised the highest level of security for his account, that low-level retail employees with access to AT&T records, or people posing as them, can be bribed by criminals to override every system that AT&T advertises as unassailable.
 

Pierce O’Donnell
Lead counsel for Terpin in this complaint

Michael Terpin requires AT & T to pay him $ 224 million - $ 200 million for moral damages and $ 24 million for actual theft.