The founder of Uber is planing to diisrupt the crypto industry. Garrett Camp, who co-founded ride sharing giant Uber, is planing a new cryptocurrency dubbed Eco, a decentralized global currency protocol, and he is going to cooperate with the world’s top universities to run a verified node network.
Eco, the new crypto coin, as he explains ; is in it to win it and is designed to go head-to-head with bitcoin, gold and fiat money for daily global payment transactions.
“I realized it might be better to release a new project from a different philosophical standpoint with cooperation from a lot of universities, scientists, and research institutes— like the internet.” ( co-founder of Uber and new founder of Eco coin said”)
Eco versus Bitcoin
In its white paper, Eco slams bitcoin as a “speculative investment” rather than a “medium of exchange,” the latter of which it is trying to achieve.
The three key issues that Eco takes up with bitcoin are the following –
its high concentration among a handful of holders
energy-intensive mining process
perception of a propensity for fraud
Eco plans to do the following –
“[form] a verified network, where universities run nodes” (instead of volunteer miners that run the Bitcoin network)
“increase … overall token supply”
“create … simple web and mobile”
The Eco Foundation, a nonprofit organization, is tasked with designing Eco as a “global currency that is easier, safer, and faster to use than paper money.” There are several distinguishing features to Eco that separate it from bitcoin, not the least of which is that the new cryptocurrency is free — they’re giving away 50% of their total token supply to the early takers.
Similar to bitcoin, there’s a finite number of Eco being created. But 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. Meanwhile, on the website, they tout Eco as “the digital currency for everyone” and provide what appears to be a wait list to get your share.
Eco is building a verified network of global universities, an approach that seems to take a digital page out of Mark Zuckerberg’s Facebook. This network will “help build an evenly distributed and cooperative financial infrastructure” in an energy-efficient way.
Eco isn’t planning an initial coin offering to raise funds for the project, which is probably a good move in light of the recent crackdown by regulators, particularly the US SEC, on ICOs.
Camp told Fortune a testnet could be operating within months.
News source :
https://www.ccn.com/ecocoin-uber-co-founder-unveils-new-cryptocurrency/
Misleading headline
Why is a misleading headline? I included the source of the news at the end of the post.
@josteem you were flagged by a worthless gang of trolls, so, I gave you an upvote to counteract it! Enjoy!!
Well sounds pretty cool though ;)
In the coming days we sure will get more of these of different companies getting into the world of crypto ;)
At-least I hope so !
Cryptography is the future my friend 😍😎
It sure is buddy !
We are lucky that we are a part of it :)
😎👍🏼😍✊❤️
nice information my friend i hope is a good coin
It seems so. I haven’t read it’s white paper yet... however, those people who proved success before are much trustworthy than those popping out of the blue 😊
so you try brother ?
Everyone is trying his best 😆
ok i will try dear
Great article! I think the concept works but as with most crypto currencies they do not have a true catalyst. For instance if the eco coin was attached to a service like uber. If this coin was used first as a means of payment for uber passengers, the coin would go through the roof.
The coin would instantaneously be legitimized. Would be a great way to bring crypto curreny into the mainstream.
I was wondering the same myself! But this might be a reserved announcement when they start in 2019.
By the way you can sign up and reserve your 500 free coin on eco.com website 😍
Awesome thank you for the information I just signed up. Thanks
I had signed up for ECO and have 500 Eco coins with me :)
Wow how you did that? Where did you got them from?
I could be wrong but isn't this the same?
https://eco.com/
Yep correct ... but just for signing up as I know.. I signed also but not got any coins yet. I think is still under development... but you surprised me to say you already got 500 eco coin (?!) 🙃😗🙃
Oh I meant to say that we got it reserved. They will surely give it to us :)
For now probably as they say, reserving it?
That's good.
Cryptocurrency is the future and everyone need to have knowledge about it.
That’s true ✅
I wish you @shivanir1197 enjoyed the article.
Your comment is an honor to me .. wish to read more comets from you 😍
Keep in touch 😉
Sure. :)
everyone rushing towards crypto. Hope for the best. by the way thanks for the information
Yes everybody should... coz crypto will be the foundation of the future as I believe 😊
yes it's true crypto if future.
Its also introduce a new Cryptocurrency .??
Thanks to give information about this..
Yes. The new crypto currency by Uber founder named ( Ecocoin) but will be in the market in the next few months. No ICO will be made though. They don’t need money to finance their project lol
Happy steeming friend @Mohammadzubair7
🎉 ❤️
Yup..U say right..
My friend..Cryptocurrancy is a future..
josteem,
Thanks for posting this information. Good news and excited to see how this all works out.
FULL DISCLOSURE: I am new to the cryptocurrency scene but am amazed at what is taking place. I am actively building my knowledge base in areas like artificial intelligence, robotics and now blockchain.
May you be blessed with success upon success, both personally and professionally.
Thanks @wesleyclark for you kind words. 🙏🏼
Hope the best for you too.
Keep in touch friend 😍
@josteem
Woww que buena noticia
Thanks for sharing this information.
Nice write up
Hello my teacher @josteem
Praise be to the creator of heaven and earth
Best wishes to all of us ....
I am sorry ... I am commenting in this comment not to comment on your post, but through this comment I want to ask your help from my posting even though this make me so embarrassed, but this I have to convey with feeling sad at heart. Please help you for this post because of you I am sure can help my post . please upvote me sir,help me please sir @afdhal23
As your request to give an opinion, then I think, we can not hinder the great ideas of others, in order to achieve a novelty that makes all parties feel it. However, I am so sure of this sentence, that people who intend badly, no matter how far he will run, the stench will definitely follow. Where I come from, there is a phrase that when translated into English means something like this:
What is the meaning we can derive from this phrase? is: The stench that the robber carries at some point will surely smell. So, I'm sure people's bad intentions will not last long.
This sounds promising @josteem. I love that they minting 1 trillion coin. I love buisness that considers the majority. Let's see what happens..
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STOPUBER seem to try to stay alive. Every year they lose money but somehow they seemed to constantly attract investors.
Now I see they are finding another way to reach out to get investors money.
At the same time UBER has been just bought over in Malaysia and Singapore by Grab. They are not really doing well. They are only going to be alive as long as new investors are going to be pumping money into them. Almost like Ponzi Scheme. But different :)
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