reports, the company will purchase about 54 million tokens. However, it remains unclear what the price that the company will be buying the tokens is. Reportedly, Colu will use Ethereum to buy back the tokens and once the process is fully completed, it will burn the tokens, rendering them worthless. Colu Local Network token surged substantially in the past 24 hours, marking daily increases upwards of 125%. The sudden spike came shortly after the project announced that it intends to buy back the tokens that it issued during the Initial Coin Offering it had in 2018 when it managed to raise $20 million.
Colu DLT, the Gibraltar based subsidiary company of the Colu Group, becomes one of the first companies to voluntarily offer to purchase the entirety of tokens sold during an ICO, as blockchain project concludes. According toColu’s announcement, the use of cryptocurrencies has become “a barrier towards working with municipalities and other partners, which have become the main focus of [Colu’s] work”. Exploding on the scene as the seemingly unstoppable back-end for Bitcoin and other cryptocurrencies, blockchain seemed a new idea with endless possibilities. Blockchain was the Tulip of . Digital currency company Colu raised nearly $20 million two years ago in an initial coin offering selling its own digital tokens based on a blockchain. In 2017, an unprofitable drink company saw its shares jump nearly 300% after changing its name to Long Blockchain Company. Decentralized and token-incentivized blockcahin protocol for the next generation social networks.
Once the process is completed, Colu DLT will ‘burn’ the tokens purchased, rendering them worthless. Colu DLThas announced that it will voluntarily offer to purchase theCLN tokensit issued last year from ICO purchasers and other token holders. Colu cited its sense of responsibility towards token holders, including those who participated in the token sale.
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Of course, some children find it easier to engage with play areas than others. Consider a wheel chair user when faced with a traditional play park — or think about how a busy, brightly coloured and noisy space must feel for a child with Autism. At Inclusive Play our vision is to design, develop and manufacture quality products that enable children — no matter what their ability — to play together. We believe in the social model of disability. With this in mind, we strive to create completely unique products that punctuate, not define a play space, embracing the true meaning of inclusion. We formerly pointed out that Bitcoin mining is working with as much energy as 5,, American homes.
Additionally, only those who complete KYC and AML processes will receive repayment.
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Paul improvised and conducted many training sessions sitting down. This fencer went on to compete at the Seoul Olympics! Paul himself had a very successful fencing career representing the UK at World Championship level and winning several Commonwealth medals. Bitcoin Altcoin shows the most accurate live prices, charts and market rates from trusted top crypto exchanges globally. Bitcoin Altcoin have over 2100+ cryptocurrencies, trusted historical data, details of active, upcoming and finished ICOs. Although it did not provide specific details, Colu said that regulatory and technical hurdles to the CLN platform caused the offer to repurchase the tokens.
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Ant Group is a serious player by any calculation and we should attend to their decision to bring a blockchain machine to the market. A list of related initial coin offerings . The following list contains the top latest ICOs and new token crowdsales for crypto investors, as well as this list provides a glimpse overview to indicate which ICO is a suitable/worthwhile for an investment. The market cap of CLN is currently around $3.2 million. It remains interesting to observe whether the team will carry out its plan to buy back the tokens and what will their price be.
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The industry is now developing in maturity to recognise that accessible play and inclusive play are 2 very different things. Paul is supporting the industry make this transition to enable true inclusion and integration of our outdoor spaces. Paul transitioned out of Jupiter Play in 2018 to work exclusively for Inclusive Play. Developing the brand across the US, Europe, Middle East and Asia Pacific. Paul’s passion for inclusion goes back to a time when he was an international fencer, where Paul supported a wheelchair bound fencer realise physical barriers should not limit ambition.
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- Paul transitioned out of Jupiter Play in 2018 to work exclusively for Inclusive Play.
- The CLN token will allow any community to create a localized currency and use it as a reward for local consumption made with fiat, encouraging local spending and helping keep more money circulating in the community.
- Thus, its buyback-and-burn plan signifies a pivot away from its blockchain business.
- Since then, Inclusive Play has developed a range of products which have been exported across the world.
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We create products that punctuate, not define, a play space embracing the true meaning of inclusion. It is our collaborative and consultative approach with key disability groups, organisations and charities in UK and the rest of Europe that has allowed us to fully understand why some children are faced with barriers to play. With these partnerships and on-going research we will continue to champion inclusive design. Want to know how to create an inclusive play area? Contact us to discuss our PiPA tool or take a look at our guidance on inclusive play area design. Globitex GBX. Kepler Technologies.
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It is hard to imagine an argument against the fairness of this move. Colu thought that it made sense to develop a blockchain-based product, it later decided to abandon this plan, so it refunded the public purchasers of the digital tokens it sold and did so at their original value at the time of the sale. Colu didn’t have to undergo this repurchase process, and no regulator forced it to do so. Admittedly, they probably had good business reasons to do so, and the fact that it is also the fair and right thing to do – doesn’t hurt. And this is why I believe there is an important lesson to be learned here; one that regulators should pay attention to. The key role and responsibility of financial regulators is to identify and correct market deficiencies that have an adverse effect on investors and end-clients.
Colu DLT, a subsidiary of Colu Group, announced that it is closing down its blockchain-based Colu Local Network and is offering to buy back and burn the CLN tokens sold to investors during its initial coin offering . The purchase process, which is expected to commence in October, will take place via a dedicated website. CLN token holders looking to accept the offer will be subject to routine KYC and AML (anti-money laundering) checks. Only individuals who complete the KYC and AML processes will receive payment for their CLN tokens. The purchase period will be open for ninety days.
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Bob Prince has warned that the recent sell-off in the U.S. bond market could accelerate and this could “threaten” cryptocurrencies. The cryptocurrency is up with about 125 percent in the past 24 hours and the majority of the gains came immediately in response to the news. Naturally, a huge move of the kind propelled a serious movement in the price of the project’s native token – CLN. At the time of this writing, there’s no further information as to how long the process will last and what are the reasons for the move. Moreover, the website which is featured on all ICO ranking platforms is currently not working. Meanwhile, Culo Group said it will continue Colu DLT’s currency projects, including the Belfast Coin and TLV Coin for use in the Municipality of Tel Aviv-Yafo.