According to eyewitnesses who attended the Proud Experiences conference in London, the capabilities of blockchain technology will be used to strengthen the economic potential of the LGBT community and improve the tourism services market.
Christoph Wittig, founder and CEO of LGBT media company Hornet Networks, explained how the creation of an “LGBT token” will help generate potential profits for the entire community. According to Wittig, according to research in the cryptocurrency sector, if the LGBT community were a country, it would be the fourth largest economy in the world with a GDP of $4.6 trillion.
The token, which is currently being developed by technology firm OST and the LGBT Foundation, will be a means of payment for individuals and companies, as well as a decentralized system for verifying and protecting the identity of LGBT individuals, especially in countries where they face oppression and persecution. With the help of the LGBT token, it will be possible to purchase as consumers or supply as merchants services intended for the preferences of the LGBT community, as well as funds allocated for the charitable needs of the LGBT community.
The project is supported by Hornet Networks, one of the largest gay social networks with more than 25 million subscribers worldwide.
Wittig also said that he believes the token will be “a great way to test the power of the Pink Dollar.” This is a very important stage for the launch of e-commerce among members of the LGBT community.
Among the companies wishing to receive the token after its release is the company LGBT OTA.
According to ttgmedia
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