Colu may buy back its ICO tokens in a pivot away from blockchain

Blockchain startup Colu is eliminating blockchain from its business plan, CoinDesk reports, and is considering buying back the tokens distributed during it's initial coin offering. Citing regulatory uncertainty, technical challenges and growth in non-blockchain related opportunities the company is concluding its blockchain project, the Colu Local Network (CLN), according to a statement. As part of the scale down, the company will repurchase approximately 54 million tokens sold during its $17 million ICO from those that participated in the crowd-sale.

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