Uber Co-Founder unveils new cryptocurrency name ‘Eco’March 4, 2018
Uber co-founder is known for disrupting one industry most recently in South Africa, and now he’s reportedly going after bitcoin, gold and fiat money. Co-founder of Uber ‘Gareth Camp’ is behind a new cryptocurrency called Eco, a decentralized global currency protocol, and he’s looking to the world’s top universities to run a verified node network.
— Garrett Camp (@gc) March 1, 2018
Eco plans to do the following;
“To create a verified network, where universities run nodes”
“increase overall token supply”
“create simple to use web and mobile”
The Eco Foundation, a nonprofit organization, is tasked with designing Eco as a “global currency that is more efficient and faster to use than paper money.” There are several differences with the features of Eco and bitcoin, and also the cryptocurrency is free and they’re giving out 50% of their total token to the early takers.
Unlike bitcoin’s 21 million, Eco set the cap at 1 trillion to make it possible for “billions of users to own many Eco tokens,” according to the white paper. ECO was tout as “the digital currency for everyone” on their website and provide what appears to be a wait list to get your share.
ECO network could “help build an evenly distributed and cooperative financial infrastructure” in an energy-efficient way.
Initial coin offering to raise funds for the project is not what Eco is planning, which is probably a good move in light of the recent crackdown by regulators, particularly the US SEC, on ICOs.
A testnet could be operating within months.Camp told Fortune