Colored Coins is an advanced application of Bitcoin’s blockchain. The protocol is considered to have Bitcoin 2.0 properties, as it expands the use of Bitcoin’s blockchain. Colored Coins are tokens that are marked to represent real world assets. They can be used to prove ownership of cars, real estate, precious metals, etc., and are pretty easy to issue. While there aren’t very many cryptocurrencies that are Colored Coins, the ones that are colored offer some interesting features. The most common use of Colored Coins is for companies that wish to host an IPO. Setting up an IPO with Colored Coins can be done in a matter of minutes at a very low cost. Coinprism, a color-aware wallet allows companies to create an IPO and issue shares extremely quickly.