LGBT Foundation, based in Hong Kong, created to support people with homosexual and bisexual orientation around the world, intends to hold a token-sale this April to attract capital for protection of LGBT community representatives who are being persecuted. As the newspaper notes, a number of companies from San Francisco, associated with the LGBT community, have already announced their readiness to accept the so-called “pink dollar” for payment. The social network for gay Hornet, founded by the president of the LGBT Foundation, Christoph Wittig, will also add an option to pay monthly installments in new tokens. It should be noted that the number of Hornet users reaches 25 million.
LGBT Foundation plans to raise $ 50 million in the initial offer of coins.
“Merchants are poorly aware of the scale of the purchasing power of the LGBT community. Blockchain will allow brands to provide services targeted to this community and to obtain more accurate information about demographic conditions, “Wittig said, adding that the gay community spends $ 1 trillion annually, which far exceeds the costs of other minorities.
In addition, the organization intends to send a portion of the proceeds to achieve important community goals.
“We take all necessary measures to ensure the safety of the participants of the initiative, which will benefit both merchants and users,” Wittig said.
The LGBT Foundation also works with experienced cryptocurrency investors and security analysts to create a “meaningful” token.