Co-founder and Chairman of Uber, Garrett camp (Garrett Camp) announced the beginning of developing their own cryptocurrencies — Eco. It is positioned as an international digital currency, primarily used for payment of daily expenses. According to the businessman, the fundamental principles of mining and distribution of Eco will be radically different from the other tokens on the market.

Blockchain Eco will work to use only verified nodes. This creates an effectively functioning hierarchy of participants and eliminates the competitive element. Time and performance of the equipment for mining will cease to play a significant role, since the tokens are evenly distributed on a verified node for the formation of new blocks in the chain.

As TechCrunch argues, the ICO in its usual understanding for Eco will not be held. Only (at least initially) will be released 500 billion tokens can be distributed among a billion registered for the user. 20% of the tokens reserved for verified nodes, 10% will go to paying operating expenses of the Fund, Eco, another 20% of the tokens will be used for payments to employees, consultants and strategic partners of the Fund.

At the moment the project is in an early stage of development. To attract more professionals to the process, camp added in the Whitepaper Eco invitation for cooperation:

“If you are an expert in the field of technology, security, Economics, management, strategic planning or development and are interested in helping Eco to become an international currency, please send email to our e-mail: [email protected]”.

Note, in recent years, many companies consider cryptocurrencies as a growth factor. For example, a manufacturer of photographic materials, Kodak announced the creation of the blockchain-cryptocurrency for photographers, after which the company’s shares jumped more than 100%, and ICO Telegram messenger has become the largest in the history of the fundraising method pre-sale token.