Uber Creator Invents New Cryptocurrency

[bbc.reporter]

Is this another case of a newcomer trying to fix bitcoin? We have seen many of these kinds of people coming in the cryptospace acting as if bitcoin is broken, and that they came here to fix it.

In his proposal he says that the blockchain will run on verified nodes. That means his system will be based on centralization and it will not be permissionless. Then what is he trying to create here? Another Ripple? Do we really need another one?



Over the past five months, Camp has been sketching out plans for a brand new cryptocurrency that aims to fix technical and other challenges plaguing existing projects, such as Bitcoin and Ethereum. His hope, he told Fortune, is to resuscitate virtual currency’s original promise: an instant, affordable, and borderless means of payment for the masses.

Camp has christened his rival project “Eco,” a name he settled on because it is short, easy to pronounce in many languages, and evokes concepts like “ecosystem,” “economics,” and “ecommerce.”

A few differentiators set the Eco protocol apart from the tech underlying other cryptocurrencies, like Bitcoin. First off, Eco’s blockchain, or shared ledger system, is designed to run on “verified nodes,” rather than on the machines of an anonymous network of volunteers.

Read the full articlehttp://fortune.com/2018/03/01/bitcoin-uber-cryptocurrency-eco-garrett-camp/

[surfinonmyownwavebaby]

Not surprised this guy wants in he is the epitome of scummy money imo. I hope this endeavor fails spectacularly, I don't like the Uber inventor. This also won't be the last existing company to try and enter this space, earlier today I heard about Mercedes Benz wanting in too and they are going to have their own called "MobiCoin".

[Layonk]

Not surprised this guy wants in he is the epitome of scummy money imo. I hope this endeavor fails spectacularly, I don't like the Uber inventor. This also won't be the last existing company to try and enter this space, earlier today I heard about Mercedes Benz wanting in too and they are going to have their own called "MobiCoin".

Its interesting to know why you dont like the uber inventor? Do you know him personally?
However, i will always support if company which already have working product want to start their own cryptocurrency that can prove cryptocurrency become more popular.

[Daria_daria1992]

I like Uber.  They have modern and convenient service.  Therefore, I think that with their own crypto currency they will succeed, and by this action they will make another big step in their development.

[Usui-Kun]

If uber finally decided to make their own currency using blockchain then it would be a huge success for their company. The security and convenience of having their own will make their business even better.

[sotoshihero]

For me I welcome this good news. As the block chain technology matures, more and more known companies will be using and utilizing this this technology where in its applications can be used to the convenience of public. We will   witness more private and big conglomerate to follow too. Some even  started and still in evaluation stages.