Colu, a Bitcoin company that raised $2.5m in funding, recently has announced that eToro CEO Yoni Assia is going to join the firm as its board of directors. The Tel Aviv-based startup is developing technology to enable programmers to access colored coins and Bitcoin 2.0 infrastructure through an application program interface that will enable new distributed applications.
Interestingly, Assia is someone who has always been at the forefront of Bitcoin. His first landmark achievement came when his firm eToro first enabled Bitcoin trading for the estimated 2.75m users of its platform in January 2014. However, it is the idea of colored coins that has brought him recognition.
Talking to media professionals Assia indicated that Colu will release applications that will help position it as the “standard for Bitcoin 2.0”. He further added that he believes that Bitcoin 2.0, specifically the usage of the Blockchain itself for different transactions is the killer application of Bitcoin. According to him Colu is a great team with huge prospects with its Bitcoin 2.0.
He says that Colu will build a platform to enable these transactions and make it possible for non-Bitcoin companies to easily integrate this technology and for users to use 2.0 for different everyday applications. Placing his views Colu CEO Amos Meiri said that he is happy to have Assia on the board given that the two have often worked closely together.
Bitcoin 2.0 Technology
Colu became the latest example of Bitcoin 2.0 technology which aims 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. Meiri says that it’s a broad spectrum of uses, but completely possible using Blockchain validation and security.
Regarding Assia, he says that he share the same vision and passion when it comes to 2.0 and he is very excited to keep working closely with him. Nonetheless, the decision marks the first time that Assia has been formally associated with a Bitcoin company, though he helped establish the Israeli Bitcoin Association.
Admittedly, Assia still sees Bitcoin as analogous to gold, and believes Colu is a company that can help Bitcoin develop into a platform for asset trading. He says that once Bitcoin becomes the standard Blockchain for digital assets, then its value will become like gold.
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