Last week, Hornet launched the LGBT Foundation, a not-for-profit organisation which aims to harness the power and potential of blockchain technology and other technological innovations.
It is looking to help deliver equal rights to the lesbian, gay, bisexual and transgender community.
The gay social network’s foundation is planning to conduct an Initial Coin Offering (ICO) in the first quarter of this year to raise funds for individual participants and private investors.
A blockchain-based LGBT Token will protect the LGBT community members’ identities and empower and connect LGBT businesses around the world.
The LGBT Foundation will maximise the potential of the Pink Economy by leveraging blockchain technology to support the community which could be worth up to $4.6 trillion.
Hornet has announced that it is inviting the LGBT community to join in and to make a difference.
It will offer support to members of the LGBT community when they are distressed, vulnerable or suffering from inequality. This could also include financial assistance.
Christof Wittig, founder and CEO of Hornet said: “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, organisations, and individuals in their quest for equal rights and acceptance in society.”
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