Bitcoin Press Release: San Francisco, Calif. — A digital currency innovator plans to launch a new kind of currency that could change the way money is created and injected into the economy.
eQuid will launch on select cryptocurrency exchanges in late fall 2016 after running a crowdfunding campaign to build support. When the currency is active on those exchanges, anyone with an account can purchase eQuid.
Garth Wells, the founder of eQuid, notes that eQuid differs from other cryptocurrencies that have come before it, like Bitcoin, because it will be earned, rather than mined, into existence.
Bitcoin, like gold, holds value because it can be spent or traded into the economy, and its value is held somewhat constant by its scarcity. This limits the amount of value Bitcoin — or gold — can add to the economy. In contrast, eQuid will be earned into existence: value will be created in the form of a service provided, and eQuid will be awarded. The value created reaches far beyond goods and services and has the potential to empower chronically underfunded sectors of the economy by investing in human and natural resources.
“Do we have enough spare labor force and materials to do more for people and the planet? Of course we do,” Wells said. “We can make this happen with a simple tweak in the money system, by changing how money is created and injected into the economy.”
To reward early adopters and to fund the development of the eQuid platform, Wells is holding a crowdfunding pre-sale through the website www.equid.co. Investors can donate at three different levels to receive a coupon to claim that amount plus a bonus amount of eQuid upon launch.
Wells expects to sell out in two to three months, and will launch immediately after.