On the back of bitcoin spiking to almost $20,000 in 2017, the LGBT Foundation jumped on blockchain bandwagon by creating the LGBT Token.
The token helps the LGBT Foundation achieve three goals: to build resources to tackle discrimination and inequality, to allow members to remain anonymous, and to show the economic power of the LGBT community.
The LGBT Token crypto is given out by the LGBT Foundation, a non-profit company with the goal of bringing crypto to the worldwide pink economy in order to serve the 4.6 trillion US Dollar market.
The Foundation will push for the adoption of the LGBT token as a way of payment in daily transactions for online and brick and mortar businesses. To kickstart this, Hornet Networks (official sponsor of the LGBT foundation) will distribute the token to its 25 million customers – approximately 10% of the global LGBT community. It will accept the LGBT token as a way of paying for its app.
Hornet is a gay social media network with 25 million customers and will dramatically help the reach and adoption of the LGBT Token. 20,000 people a day use the Hornet app, which is offering bounties in the form of LGBT Tokens to encourage users to generate content and report bugs.
The LGBT economy ranks as the world’s 4th largest economy, on a par with Germany and Japan, and the LGBT token reflects the purchasing power of the community. People who own the LGBT Token have the ability to influence the resources allocated to Non Government organisations.
The popularity of bitcoin has soared in the UK LGBT community, but beginners have been left wondering whether apps such as the Bitcoin Profit are a scam or not in light of advertising campaigns linking them with the Dragons Den and This Morning.
Initiatives such as the LGBT Token should help bring clarity to the community as it looks to make sense of cryptocurrencyand adopt blockchain safely.