Disclaimer: This is not investment advice.
Eco wants to create a verified network of universities to help build an evenly distributed and cooperative financial infrastructure. The focus is an easy to use platform that is energy efficient. Eco will be a global currency not controlled by any single individual, organization, or nation. The mission is to distribute the majority of the economic value generated by the Eco platform and to create a more equitable distribution of resources.
The white paper talks about three ‘core’ issues related to cryptocurrency and the project aims to improve and incorporate the following:
- forming a verified network, where universities run nodes.
- increasing overall token supply, and creating simple web and mobile apps.
- designing a system with more energy-efficient and coordinated token generation, to reduce overall power consumption.
Uber co-founder Garrett Camp, Naval Ravikant founder AngelList and Adam Bain COO Twitter is launching new cryptocurrency Eco. Source
Eco will not be controlled by any one individual, organization, or nation. University partners will play a key role in the development and helping to guide development of the Eco protocol. Source
No ICO which means no money will be raised for the project. This means any potential legal issues that are currently running rampant in the ICO market can be further avoided.
ECO will issue 1,000,000,000,000 (1 Trillion) tokens of which 50% will be given away. 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.
ECO wants to offer pre-mined coins to push the industry in a more “Green” direction and leave less of a carbon footprint than coins currently on the market such as BTC.
ECO plans to have a fully operational test net running by early 2019.
The project was just announced March 2018, so we’ll see what really happens. The big take away is not a means-of-exchange, speculation-driven, not eco-sustainable and most importantly not equality-minded.
Website: https://eco.com
Facebook: https://www.facebook.com/eco
Twitter: https://twitter.com/eco
Github: https://github.com/eco
White Paper: https://eco.com/eco-design-proposal-v1.pdf
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