LGBT Foundation Launches — and Announces ICO — to Harness Blockchain for the Benefit of the Global LGBT Community
Foundation’s Initial Coin Offering will enable the LGBT community to drive positive social change, flex its economic muscle, and protect vulnerable members
Hong Kong, 12 January, 2018 — Today marks the launch of the LGBT Foundation, a not-for-profit organization that aims to harness the power and potential of blockchain technology — alongside other technological innovations — for the global good of the lesbian, gay, bisexual, and transgender community¹.
The LGBT Foundation will conduct an Initial Coin Offering (ICO) in the first quarter of 2018 to raise funds and allocate cryptocurrency tokens to private investors and individual participants. A blockchain-based LGBT Token will not only empower and connect LGBT businesses around the world, but also protect LGBT community members’ identities in a safe and secure environment.
Blockchain technology will be leveraged by the LGBT Foundation to maximize the potential of the Pink Economy, and generate resources to support LGBT rights globally. As a percentage of global GDP per capita, the LGBT community 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.²
The LGBT Foundation has been set up by Hornet Networks, one of the world’s most popular social networks for gay men with more than 25 million members worldwide. However, the aim is that the LGBT Foundation will evolve into a self-governing body run by and for members of the LGBT community, and which directs its activities, resources and members to the benefit of the international LGBT community. Read more via Medium