Friday, March 2, 2018

Uber co-founder wants to create a novel way to make cryptocurrencies like money.... give his away for free

Uber co-founder Garrett Camp is in the process of joining the over cryptocurrency game by creating a virtual currency he hopes will evolve into a global medium of exchange.  And perhaps what is the most novel in his plans, and completely different than every other ICO, is that he wants to give most of this cryptocurrency away for free.

That's right... for free.

The currency is called Eco, and Camp wants it to be a digital global currency that can be used as a payment tool around the world for daily-use transactions. 
There will be one trillion tokens issued initially, of which 50% will be given away to the first one billion verified humans that sign up. 20% will go to the universities running trusted nodes, 10% will go to advisors, 10% will go to strategic partners, and 10% will go to a newly formed Eco Foundation which will be responsible for creating and maintaining the network. Camp as well as a small number of partners affiliated with Expa will also donate $10M to seed the foundation with an operating budget.
Notably there will be no ICO – which means no money will be raised for the project, and also lets the project avoid any potential legal issues which have now become prevalent with most major ICOs. – Tech Crunch


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