Deborah Harmes, Ph.D.
UBER chairman and co-founder, Garrett Camp‘s first-time trip to Africa opened his eyes to the issues facing cultures other than his own. He soon understood that solutions which could routinely be applied to infrastructure problems in developed countries were not necessarily an option in places like Africa. It also awakened his growing desire to embrace a philanthropy-minded approach to life.
Towards that end, the 39-year-old entrepreneur has decided to give away half of his fortune and has joined an organisation called The Giving Pledge to assist him in finding the most effective means of distributing his assets. Camp also plans to establish a foundation along the lines of the Bill and Melinda Gates Foundation, which is run by his friends and mentors.
For a serial entrepreneur like Camp, also the founder of ventures such as StumbleUpon and the recently formed Expa, his expansion into cryptocurrency is not surprising. Deciding that he liked the brevity of the proposed name and its association with words such as economics, ecosystem, and e-commerce – Camp has chosen Eco as the name for his new cryptocurrency.
Having witnessed some of the recent problems that have emerged in Bitcoin and Ethereum, Camp has chosen to not offer mere corrections in existing cryptocurrencies, but instead to create his own alternative. The Eco website is live – but the entire project is still in the development stages. The board for the Eco Foundation is being chosen, the technical foundations are being laid, and Camp is financing the setup of this venture with $10 million of his own assets plus some smaller contributions from private sources.