Uber cofounder, Garrett Camp is launching his own cryptocurrency. The currency will be known as 'eco'
The first 50% tokens will be given to the one billion verified humans that sign up first, out of the one trillion tokens issued at the start.
Universities running trusted nodes will get 20%, advisors will get 10% , another 10% will go to strategic partners. The newly formed Eco Foundation which will be responsible for creating and maintaining the network will get the balance 10%. Camp as well as a small number of partners affiliated with Expa will also donate $10M to seed the foundation with an operating budget.
It is noteworthy that there will be no Initial Coin Offering (ICO) which means project won’t be crowd sourced, and hence avoid the potential legal hassles that many recent ICOs have attracted.