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Deep Dive with Jordan Kong, Operator-in-Residence at Expa. Collaborating with Garrett Camp on Eco.

Jordan will be answering questions live on Wed 3/21 at 11:00AM PST

posted 1 year ago

with or if you'd like to join the discussion.
Ben Tossell
What challenges does Eco aim to solve?
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Jordan Kong
Hey @bentossell - we are primarily focused on the following:

Even decentralization: We’ve seen many public permissionless blockchains trend towards centralization, as profit has motivated the creation of large mining pools. Our goal is to create both the initial conditions and the correct on-going incentives to enable the Eco network to remain decentralized, for security and stability reasons.

Broader distribution: Currently, only a small number of people in the world actually have cryptocurrency holdings. This concentration makes it very difficult to recognize some of the cryptoassets as viable currencies. We hope to change that with a broader distribution strategy. Our goal of getting Eco into the hands of 1B users who don’t necessarily have exposure to cryptocurrencies today.

Usability: Self-sovereignty is a big theme in crypto, but there is still a lot that can be done to make private key management seamless for the average user. We are taking a full-stack approach to Eco in order to solve for a user-friendly experience.

If these are challenges that you are interested in solving for, we'd love to hear from you!
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Romane Geraci
Hi! The whitepaper you've shared (http://eco.com/whitepaper) is quite broad and high-level. Are there plans to release a more detailed and technical implementation whitepaper?
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Jordan Kong
Hi @Romane-Geraci!

Our initial paper is unlike the typical crypto whitepaper -- it’s more of a vision paper and design proposal. We drafted it to articulate the future we hope to see for mainstream adoption of cryptocurrencies. We are currently talking to experts in the crypto space (technologists, investors, operators) to gather feedback on our initial vision paper. As a next step, we plan to publish a more detailed FAQ to address some of that feedback. In time, we will definitely publish a more robust whitepaper.
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jonathanmarcus
Why is there any expectation that Universities would be inherently better stewards of a money network's security when we have collegiate athletics / the NCAA as the shining example of the downsides to University-controlled governance where money is involved?
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Jordan Kong
Hi @jonathanmarcus - this is a great point. We are definitely focused on designing the right governance structure (both on- and off-chain) to mitigate these types of downsides and welcome your insights here. We chose to initially focus on universities but our end goal is to build self-governing network that this not necessarily limited to just universities.

We are starting with universities because they are generally long-standing institutions and the ownership structure of universities typically does not change frequently. This ensures longevity of the Eco protocol. Partnering with universities will also give Eco access to a wide population of students and researchers who will be encouraged to participate in the development of Eco. Finally, universities were a crucial part of establishing the early Internet and have often been the center of innovation for new technologies. Universities are also microcosm of cross-disciplinary collaboration, and we believe the future of blockchain will be designed by not only technologists, but economists, policy experts, mathematicians, lawyers, and more.
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Martin Skakala
How do you guys plan to distribute coin to 1B. people. It's a logistical nightmare, thus kudos for going for it!
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Jordan Kong
hi @mskakala,

Eco is investigating the best ways to undertake KYC for each jurisdiction and socio-economic situation. We think distribution is a crucial part of decentralization and essential for Eco to become a global usable digital currency. Options we are researching include:
- Partnerships with region-specific KYC partners
- Fair and transparent algorithmic mining reward distribution
- Leveraging existing community outreach distribution channels

We’re still in the early stages of researching the best approach and would love to hear feedback from the community. More details will be released by the Eco team in the future.
0
Soona Amhaz
Hi Jordan!

I know you've been active in the crypto space for a while... I'm interested in learning:
1) How you first got involved in crypto
2) What's the story/inspiration behind Eco?
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Jordan Kong
Hi @soonaorlater! Thanks for having us today :)

I first learned about Bitcoin in 2011 in NYC - I was working in finance at the time and was super intrigued by the concept of a distributed ledger. At the time (and still to this day!), I had a hard time groking the 21M total cap and how Bitcoin could work in the real world as a default deflationary currency. When I returned to Expa last year to explore what I wanted to invest time in learning, Bitcoin and DLT were really the only things on my list of interests.

Garrett and the partners at Expa had been thinking about distributed identity and trust for a long time, given his experience with the two-way ratings feature at Uber. Garrett was honing in more on his vision for Eco when he returned from a trip where he saw how powerful the mPesa network was in East Africa. This was just as I was building my own knowledge and thesis about the space - and that’s how I ended up collaborating with him on the project.
1
Ben Tossell
what is the grand vision for Eco
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Jordan Kong
Hey @bentossell!

We’ve seen many teams innovating in the crypto space and appreciate a lot of the progress that’s been made in the last 10 years, but have found the landscape to be fragmented. In particular, we are not seeing the level of adoption that would bring cryptocurrencies to the mainstream - much of the activity to date is speculative. The partners and team at Expa saw many opportunities to contribute to technological and design improvements in the space. Specifically, Expa has always taken a lense of addressing the needs of the average user and we see that as a major need in crypto right now.

Our vision is to create a digital currency that mainstream users can use for day-to-day transactions. We are building Eco for people who are looking for a more secure and easier-to-use alternative to fiat money.

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Erik Torenberg
How can people get involved w/ Eco?
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Jordan Kong
Hey @eriktorenberg - We would love to hear feedback from everyone and there are multiple ways to get involved with the Eco Foundation. First, we are connecting with research universities to build partnerships for research and for running the Eco network. Secondly, we are talking with technical teams from across the ecosystem who share our vision of a cryptocurrency for the mainstream user to share learnings and see how we can collaborate. Lastly, we’re inviting people to join Eco as a contributor to our Forum (https://forum.eco.com/) or team member. Check out our open positions (https://eco.com/jobs).
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Erik Torenberg
What's been surprising about the launch process thus far?
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Erik Torenberg
What's something you believe about the space that other people don't?
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Erik Torenberg
What was the first iteration and how did your idea evolve over time?
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Cedar Chinwuba
When is the ICO for Eco
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Jordan Kong
Hi @Cedar-Chinwuba - Eco is not planning to undertake an ICO. We are currently focused on research and building the Eco network. Thank you for your interest!
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