Colu (CLN)

What is Colu

The Colu Local Network offers the creation of local communities, within which a certain digital currency will function. Colu Local Network each user association will be able to create a local independent network. Within its framework, the currency transfers will be confirmed by its participants. By eliminating intermediaries, it is possible to reduce the cost of conducting transactions, since it is no longer necessary to pay for third-party services. Colu Local Network participants will be able to fully control the turnover of their own resources.

The Colu Local Network fee that was previously collected by credit card companies will now be instantly exchanged to community currency and will be put in a community reserve for the use of the community.

Colu Local Network credit providers that access the CLN network can provide ad-hoc financing solutions at the Point-of-Sale. Consumers will enjoy fast credit with reduced friction.

Developers and service providers can build tools and provide services on the CLN(Colu Local Network tokens), enhancing its capabilities. Such as credit providers, credit scoring service providers or integrators to legacy networks.

ColuLocalNetwork allows users to buy locally at a local level something for fiat money and at the same time receive a fee in the form of a crypto currency.

CLN (Colu Local Network tokens) is what provides the tradability of the community currency as a utility. CLN (Colu Local Network tokens) users would be able to use it for payments as well and the conversion will be done in real time in the app.