Uber co-founder makes a new Eco coin

Garrett Camp, almost a decade after he co-founded the popular taxi platform called Uber which has disrupted the market of taxi so much that regular taxi drivers even formed protest movements against it, is now following the popular trend and enters the crypto market with his new proposal - the cryptocurrency called Eco.

The basic formula of this new digital coin is that it’s will be supported by major institutes of the world similar to how the Internet was being born thanks to the efforts of universities. Garrett Camp tells that he wasn’t satisfied with any major digital currency and decided to simply make his own. While called Eco, it will not revolve around the green energy or similar concepts as some might easily imagine: instead, it is short for “e-commerce” and “economics”, as the press has already clarified.

Active nodes of the system will be rewarded and it will be easy to get this coin at initial stages, the reporters tell. The project is still at its early stages, warns Mr. Camp.

This cryptocoin might become popular at least at the launch time due to the person behind it, but what the project truly needs in order not to fade over time are competitive technology and economic model. These two factors will back the price of the new altcoin.

Image courtesy of Joi Ito from Cambridge, MA, USA