Local Pound fights corporates

Colu Local DIgital Wallet
Israel (Tel Aviv)

Submitted by you:

Based in Israel, Amos Meiri and the 30+ strong team at Colu are helping people to support local businesses around the world using local virtual currencies in a digital wallet app.

Users get to locate new merchants, support the local area and can even share money with friends and family. Beyond simply another way to take and distribute money, Colu wants to reinvigorate local communities and ‘superstars’ businesses, claiming that 65% of currencies spent will stay in the local area. Colu boasts no transaction fees for the merchant end and even gets information about customers to improve customer relations.

“Colu is about building communities from the wallet up,” explains CTO Amos Meiri, “offering a way for locals to infuse their money with meaning by supporting local businesses – a win-win for everyone.”

Already being used in Liverpool (Local Pound, Liverpool), where more than 16,000 people and businesses have been using the app daily, in London (Brixton Pound and Local Pound, East London), and in other areas of the world, this corruption-resistant, value-heavy alternative to cash may just upset more than a few banks and big businesses. A variety of merchants are participating and accepting the digital currency, including bars, restaurants, clothing stores and health clubs. It is exchanged at one-to-one with the British Pound.

“I’m often asked why we chose to launch currencies in places like East London and Liverpool,” adds Meiri. “It’s because these areas have a unique combination of intense community pride, trendy new businesses and a bustling tech scene, making them the perfect places to build a new digital, local economy.”

Watch ► Amos Meiri explains how the blockchain could kill off national currencies.

Colu was mapped in Trust this AtlasChart: Paul Armstrong’s Blockchain Top 5

AtlasOffer: Paul’s first book, ‘Disruptive Technologies’, offers organisations a distinct response to emerging technologies including blockchain (Bitcoin), artificial intelligence, 3D printing, nanotechnology, the sharing economy and mobile penetration. Get 20% off with the code ‘DISRUPTIVE20’.

Submitted by

Paul Armstrong (26 June 2017)

Bio

Paul Armstrong is a leading strategist, author and speaker on the future of technology, disruption, retail innovation, technology and mobile innovation. He runs the technology advisory HERE/FORTH where he helps clients including Coca-Cola and O2 understand trends and how to apply emerging technologies.

Project leader

Amos Meiri

Creative Commons License

Comments

 

What?
Project Topics
Other Topics
Close
Take me somewhere
Close
Take me somewhere
Close
Data Protection Act: LOPD.
In compliance with Organic Law 15/1999, of 13 of December, on Personal Data Protection, and the development of Rules of Procedure, approved by Royal Decree 1720/2007, of 21 of December, Atlas of the Future subscribers may be required to provide Personal Data, which will be included in a file owned by Democratizing The Future Society SL. Such file is duly incorporated in the Spanish Data Protection Agency and protected in compliance with the security measures established in the applicable legislation. Subscribers may exercise, at any time, their rights of access, rectification, cancellation and/or opposal regarding their Personal Data. The subscriber shall notice their will, either under written form addressed to Democratizing The Future Society SL, Ref. LOPD, Calabria, 10 6-3 08015 - Barcelona (Spain) and/or by e-mail, clicking here. Also, the subscriber shall communicate Atlas of the Future any modifications of their Personal Data stored, so that the information stored by Atlas of the Future remains at all times updated and error-free
Close