Uber co-founder is Creating a Cryptocurrency
Garrett Camp, the co-founder of Uber, is launching a cryptocurrency named Eco- a digital cryptocurrency that aims at payment options for global daily-use transactions.
According to reports, there will be one trillion tokens that will be given away for FREE to the first 500 million REAL people who sign up, 20% will go to universities with verified nodes, 10% to advisors, another 10% to strategic partners, and the final 10% will go to the Eco Foundation which will donate $10M to seed the operation budget.
The most interesting thing about this particular crypto is the fact that there will be no ICO. Then again, not many cryptocurrencies have a founder worth billions.
With such a large amount of tokens, the idea is to make them worth less than dollar values which makes sense - to be a transaction token it has to be worth a lot less than the fiat it is dealing with. The irony of it all is that with 500B coins available will obtaining more than just the ones you get for signing up cost more than fiat? As yet to be determined.
I like the white papers. Including universities will sustain a level of technical expertise (and electricity) needed to gain market space and acceptance. The space within spaces is still a helluva lot more than the current centralized models 99% of the masses is forced to live by, and even though the times are rough, I still believe that cryptocurrency is the future.
What a time to be alive!
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