This Thursday we’ve launched our new product: Coinprism. Coinprism is an online Colored Coin wallet. Coinprism is similar to other web wallets, in particular Blockchain.info, except you can store, issue, send and receive colored coins and not only normal Bitcoins. The site is currently in closed beta, and on the Testnet blockchain.
You may wonder what Colored Coins are, Colored coins basically allow you to store assets on the Bitcoin blockchain. There are many interesting applications to colored coin. You could for example have an IPO on the blockchain by issuing shares as colored coins, and send them to your shareholders. The shares can then be traded almost instantaneously and for free through the Bitcoin blockchain. You could have smart properties represented by colored coins. You could store your house on the blockchain by issuing a single coin, then the ownership of the house can be transferred with a simple Bitcoin transaction.
If you want to get a high level overview of Colored Coins, we recommend watching the below video. And If you are interested in the colored coin protocol we are using, you can have a look at this specification.