Blockchain With Pride: LGBT Foundation and OST Announce Partnership to Launch Global LGBT+ Ecosystem

BERLIN, June 12, 2018 (Newswire.com) - OST and the LGBT Foundation, backed by Hornet Networks, are pleased to announce a new partnership to launch an ecosystem powered by OST blockchain technology, to empower, connect and support LGBT+ people all over the world.

The LGBT Foundation will launch the LGBT Token in cooperation with Hornet Networks, one of the largest social networks for gay men with more than 25 million members globally, and Revry, the LGBT answer to Netflix, reaching 70 million homes in more than 100 countries. These two and other launch partners already reach 100 million people worldwide.

LGBT Token will activate the $4.6 trillion global LGBT+ economy, enabling members to assert and protect their LGBT+ identity, creating a new medium of exchange and loyalty for LGBT+ persons and businesses, and making a global social impact by allocating resources to projects that the LGBT+ community cares about, including tackling oppression, discrimination and inequality, education and healthcare.

The LGBT Foundation chose to launch the LGBT Token on OST technology following several months exploring their own ICO, and publishing the LGBT Token “ Pink Paper ” and “ White Paper. ” It aims for the Token to be a method of payment and loyalty for physical and digital businesses, as well as a decentralized system for LGBT+ people to verify and protect their identities, especially in countries where they face repercussions.

“We’re saving a ton of time, money and technical resources by teaming up with OST rather than pursuing our own ICO; allowing us to go to market faster, safer and fully compliant with financial regulations,” says Christof Wittig, President of the LGBT Foundation and CEO of Hornet Networks . “The fact that Jason has a stellar track record in tech, Blockchain and the LGBT+ community was something we definitely considered when looking for a partner to kickstart our project.”

The OST utility token enables any website, app, or marketplace to easily launch a branded token and integrate it into their businesses and communities.

“We’re thrilled to announce our support for LGBT Token during Pride Month 2018. We are humbled and excited to support the LGBT Foundation’s mission to make our world a better place for all members of the LGBT+ community. Blockchain technology is a perfect fit for the LGBT Foundation’s mission,” says Jason Goldberg, founder and CEO of OST and an advocate for equality himself. “The LGBT Token facilitates near-instant transactions between businesses, causes and members of the community; thus establishing a flourishing, Pink Economy. It also empowers people in countries where it’s illegal to be LGBT to safely and, if need be, anonymously connect with fellow LGBT people.”

Goldberg will join the LGBT Foundation as an advisor to the project.

Sean Howell, CEO of the LGBT Foundation, concludes: “ Partnering with OST is based on their state-of-the-art technology to launch and manage the LGBT Token rapidly, safely, and securely. Working with OST gives us the confidence and ability to go-to-market and to develop a blockchain-powered network of LGBT-friendly businesses, to activate a global, Pink Economy.” Howell continues: “We’ll be driving major, global adoption of the LGBT Token by making it available to the 100 million audience of our launch partners, incl. Hornet Networks and Revry."

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About the LGBT Foundation

The LGBT Foundation is an organization that aims to deliver equality for the global LGBT community through technology and non-profit uses of its tokens. By harnessing the power and potential of blockchain technology and other technological innovations, the Foundation aims to foster greater acceptance of the LGBT community, drive positive social change for the benefit of its members, and protect vulnerable community members. The aim is that the LGBT Foundation will evolve to become 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. For more information, please visit: https://lgbt-token.org/

About Hornet Networks

Hornet is the world's premier gay social network. Founded in 2011 with the mission to build the digital home for the gay community, Hornet has grown to 25 million total users by utilizing cutting-edge technology for its dating platform and producing original editorial content to connect a community around common interests. Hornet provides a superior user experience and is number one in the key markets of France, Russia, Brazil, Turkey and Taiwan, and is consistently expanding its sizable user base in the United States. For more information, please visit: https://hornet.com

About OST

OST is building the complete blockchain toolkit for business. The company strives to be the blockchain technology partner of choice for businesses of all sizes and levels of technical sophistication, enabling any business to create, launch, and manage their own branded digital token economy powered by OpenST protocols and OST blockchain management software. The OpenST protocol enables companies to launch branded token economies on highly scalable, open, cryptographically auditable side blockchains. OST has offices in Berlin, New York, Hong Kong, and Pune India. For more information, please visit: https://ost.com/

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Sean Howell for Hornet Networks and the LGBT Foundation

[email protected]

Wouter Verhoog for OST

[email protected] / @wouterverhoog 

Source: OST