Uber co-founder Garrett Camp is creating a new cryptocurrency

Interesting that the co-creator of UBER is not getting into Crypto by why of his new ICO coin called ECO. Garret wants it to be a digital global currency that can be used as a pay system tool around the world. I want to share some things I read from the tech crunch article. First I'll post some info on the Eco whitepaper, and give you guys some good clippings from the article...

• Here is a Screen shot of the ECO whitepaper:

• Clippings from the Tech Crunch Article:

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.

Eco is an admirable concept, but not a novel one. Since the early days of crypto, groups have been “copy and pasting” Bitcoin to create their own digital blockchains, all with slight differences that they think will change the world.

For example, Litecoin and Ethereum both have faster blockchain which have increased transaction times. Both Telegram’s upcoming token and Kik’s Kin token are trying to be mobile-first, daily-use tokens with a high supply and low token price. Ripple already eschews anonymous nodes and instead uses trusted validator nodes run by legitimate groups chosen by them. Ethereum is working on proof of stake to become more energy efficient, and NEO already has a working one in place.

It's all very interesting and I'll be keeping tabs on this ICO and if Garret can have success in the digital space, like he did in ride share movement. Enjoy the knowledge!

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