The Tel-Aviv based startup is developing a blockchain platform that can be used to store all kinds of purchases.
Colu, an Israeli bitcoin company, has raised $2.5 million in seed funding. The investments were provided by American and Israeli venture capitalists. Colu is developing a platform and a consumer app that would enable the secure purchase and storage of all kind of items in the blockchain. It is one of the many Bitcoin 2.0 applications that see the bitcoin as not just a currency but as a technology that can be leveraged to change our whole life.
When a customer buys anything, whether a car or a concert ticket, they will receive a digital certificate that will be stored in the blockchain testifying that the item has really been purchased. In Colu’s view, such a digital certificate would be a lot more reliable and enduring than a piece of paper. And it is just the beginning.
According to Amos Meiri, CEO and co-founder of the company,
“Our goal at Colu is to use the blockchain’s ability to safely enable access to everything from online purchases to opening the front door of our vacation stay and locking the door of the car that brought us here. It’s a broad spectrum of uses, but completely possible using blockchain validation and security”.
The team behind Colu were the original founders of Colored Coins, an open source application for creating digital assets in the blockchain.