Uber co-founder announces eco cryptocurrency project he seems virtually every person and company aims to create their own cryptocurrency while this is commendable it also raises the questions as to how viable all these projects will be in the long run the co-creator of uber has officially announced the eco cryptocurrency although it remains to be seen who will use it so what purpose does echo serve well it's always interesting to see what newly announced crypto currencies bring to the table Garrett camp the co-founder of uber is launching eco as a way to deal with the shortcomings of crypto currencies face right now I bet they're gonna say that it solves exactly all the same problems that every other cryptocurrency says they're gonna solve let's see guys his approach is to create a global digital currency which has daily use got that one right it's an interesting approach although it is not entirely uncommon for people for people to look in that particular direction right
Now when most cryptocurrency enthusiasts would prefer to see Bitcoin rise to the level of acceptance that chance of happening that chance the chances of that happening appear rather slim right now that's because Bitcoin lacks a lot of the traits required to make it commonly used global digital currency in its current form it is not fungible this transaction throughput is far too low his volatile nature makes it unsuitable for both consumers and retailers okay thanks for digging into Bitcoin again
Whether or not eco will solve all these problems is a different matter altogether since there would be one trillion tokens issued initially in trying tokens wondering if that's enough to cover overs customer base they haven't even talked about uber yet what is this coin why is this coin existing again half of the okay since there will be one trillion tokens issued initially this project is a bit different for what people most would expect half of these tokens will be given away to people who sign up for the project a soft cap of 1 billion users is envisioned initially although it remains to be seen if there will be that much interest in this project so what's the ICO
A large portion of the tokens will be distributed to universities huh ok universities guys so that means that as long as they're in these universities in these universities continue to run these nodes the network should be relatively stable and have pretty good uptime which is what you want for new new new coins lots of nodes all over the place in different universities I can dig that running eke trusted eco nodes which is rather interesting advisors will also receive a portion of these tokens as well the strategic partners of this new venture last but not least 10% of the tokens will be kept by the eco Foundation which is tasked with maintain the network as a whole it seems none of these tokens will be sold through an ICO which is more than a welcome change mm-hmm I guess private investors only guys maybe this may be mr. camp and has something up his sleeve they haven't they still haven't talked about uber is this not going into uber what's the point of this coin again guys
The big question is who will use this token for the purpose envisioned by camp considering these tokens have no value by default and the supply is pre-existing from day one there's no real value to be attributed to eco and as of right now that doesn't mean this new token can't become valuable in the future but it remains unclear how this will be achieved exactly with so many valuable digital currencies existing already there is nothing new that sets eco apart in any way
For the time being we will have to wait and see how things evolve in this regard camps concept is certainly interesting not really and his network skills in technology sector may have a positive effect on how this currency on this currency in the long run that's what I'm expecting I still haven't seen any talk about using this eco thing in uber which is where I think many of us would assume that if a co-founder of uber makes a cryptocurrency you would assume that they would use it within their most successful application that they have right now for now there is no reason to think this airdrop will become even remotely valuable in the future but stranger things have happened in the world of digital currencies well guys I have no idea why mr. camp is making this eco cryptocurrency they have talked to nothing about using it in uber with their already captive audience of users and their entire horde of uber drivers who drive at a loss what you haven't read the statistics on being an uber driver in which you're not actually making any money you should probably look into that guy's get woke let me know in the comment section below your thoughts on iko iko cryptocurrency and where do you think mr. camp will be headed with eco I mean the assumption could obviously be using an uber but they haven't talked about that at all so what the hell is eco for and guys smash the like button not for uber not for eco unless they're combined maybe they should just make over coin that's what they probably should do I'm gonna title this uber coin let's get some clickbait guys Up next