Extending Eco: An Open Payment Network

Aug 20 · 2 min read

Over a year ago, we announced Eco’s vision for a global payment network and digital currency protocol. Our original announcement served as a call to action, inviting interested contributors to help shape Eco’s technical execution and governance. With our announcement we received great feedback, generating over 100,000 signups from users who were excited by our focus on design and accessibility.

We also received useful feedback from the blockchain community. As we consulted with technical experts across the industry, we determined such a network would need to feature:

  1. Intuitive UX and beautiful design. Simple enough for daily use;
  2. Scalability, of both transaction throughput and confirmation time;
  3. Robust user privacy protection enabled by default;
  4. And perhaps most important, governance by a truly decentralized, global set of academic experts and non-profit stakeholders.

We believed the best way to realize Eco’s vision would be to recruit an ecosystem of partners who shared our goals. We soon realized there were a few like-minded teams who could help bring important parts of our vision to reality. And one team in particular, Beam.io, possessed the knowledge, technical capacity and motivation to build a global, open payments platform.

So today we are reintroducing Eco and extending our original vision. After collaborating with Beam for several months we have decided that working together more closely is the best way to execute on our plan. We are combining Beam’s technology and the Eco brand, to create a new global payment system.

Eco is building an open source, full-stack payment platform with a cryptocurrency designed for payments. CEO Ryne Saxe and President Henry Ault have assembled an amazing team, and co-founders Ryan Breslow and Eric Feldman have brought deep knowledge of online commerce learned by building Bolt. Co-founder Joey Krug brings his experience building Augur to help design the Eco platform, and Expa and Pantera Capital have invested in Eco.

We have made great development progress, and are excited to share our working prototype soon. Please follow @eco on twitter or sign-up for Eco to follow our progress. And if you are interested in helping create Eco, please visit Eco.com :)

-The Eco Team

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An open payment network

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