Whether you’ve been clued up on cryptocurrency and Bitcoin for ages, or you’re like me and really only vaguely understand, if you’re a member of the LGBT community, you are probably going to at least look into investing in the LGBT Foundation’s upcoming “LGBT token”.
While I won’t profess to know a lot about how it works, I think this is super cool so I’ve gathered as much information as possible to share with you guys!
Hong Kong based non-profit, the LGBT Foundation is using blockchain technology in order to benefit the LGBT community on a global scale. The organisation was formed by Hornet Networks, which is the world’s most popular social network for gay men.
The LGBT community – or the “Pink Economy” – accounts for almost $1 trillion in annual sales, and some stats argue that we could account for up to $4.6 trillion — meaning that, if it were a country, it would rank higher than Germany as the world’s fourth biggest economy.
“The LGBT Foundation will tokenize the Pink Dollar so that the LGBT community can play an even greater role in shaping its destiny in countries across the world. By harnessing the Community’s economic might, the Foundation and its members can accelerate the efforts of local communities, organizations, and individuals in their quest for equal rights and acceptance in society.” – Christof Wittig, founder and CEO of Hornet.
The organisation plans to not only support LGBT-run businesses, but also hope to raise enough funds to fulfil their activism goals and run independently.
Wittig also said, “we believe that we can create a funding mechanism out of this token to direct capital to causes that are important to the LGBT community.”
According to the timeline on their website, token sales will commence in April – plenty of time to figure out how to invest in cryptocurrency!
Honestly, though, this is an incredible way of harnessing blockchain technology for the betterment of the LGBT community, and I highly recommend you take five minutes to check out the LGBT Token website and read some of the articles from the LGBT Foundation on their goals and projections.
Now, can someone teach me about cryptocurrency, please? This tiny gay wants to invest come April.