Uber co-founder launches new cryptocurrency

An alternative to taxis and food delivery networks with various vehicles, the company Uber co-founder Garrett Camp is launching his own cryptocurrency: Eco. It wants it to be a digital currency.

According to TechCrunch, there is a trillion in volume for the initially given Eco. Half of these will be given to the first billion people who sign up.

Of the other half, 20 percent will go to trusted universities, 10 percent to consultants, 10 percent to strategic partners, and 10 percent to a newly established Eco Foundation.

Uber co-founder will raise $10 million in donations

A small number of Camp and Expa affiliates will also donate $10 million to add to the foundation’s operating budget.

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Eco is stated to be looking to improve a few key issues in common with cryptocurrencies.

Only verified accounts are used for support and transaction confirmations to the network. This means that you will not be anonymous. So a different system is being developed from Bitcoin.

While this essentially eliminates 51 percent hacking or other fraud issues, it means that Eco will not be truly decentralized.

Eko is also big. has a resource (at least one trillion) and will have simple web, mobile applications.

This is probably done for the user-friendliness of the project.

The web and mobile application directive is the technical It states that it will be a wallet that users can easily access, regardless of capability.

The currency also wants to save energy on transaction verification and generating cryptocurrencies.

Aninews