The CloudCoin Consortium
The CloudCoin Consortium is made up of system administrators, developers and others who want to promote the concept of perfect money. The Consortium was created in October of 2016 by its founding member Sean Worthington who invented CloudCoin and the RAIDA authentication system. The initial purpose of the Consortium was to create the RAIDA network, which after creation would operate autonomously. After filing a provisional patent for the idea (which was granted - #10,650,375 B2), the process of creating the RAIDA began. To implement and demonstrate how monetary systems are information systems, Worthington recruited world-class Systems Administrators from around the globe. This group of administrators became known as the Sentinels. The proof of concept tests conducted in January 2017 conclusively demonstrated that the CloudCoin concept works in practice as in theory. Unfortunately, one of the Sentinels was found dead at his computer during the testing. This temporarily caused a loss of RAIDA data, but the system self-repaired just as predicted. After the RAIDA and the network of independent administrators was created, a five-year development plan and coin release schedule was created. Developers were recruited and an Executive Committee was formed to implement the plan.The Consortium’s ongoing responsibilities include determining who serves on the Executive Committee as well as vote on other matters, such as marketing, PR and client-side software development.
CloudCoin Circulation and Release Schedule
In August 2016, 16,777,216 CloudCoin notes were registered with the RAIDA.
The scheduled release of the CloudCoins will raise the total circulation until all are released:
The CloudCoins were spent into existence to support the team of administrators, developers and other specialists needed to create the wallet software to interact with the RAIDA.
The Executive Committee & Advisors
The Executive Committee manages the implementation of the five-year development plan with the assistance of special advisors.
The RAIDA gets its physical integrity from being shredded and stored in different clouds located in many different geopolitical jurisdictions worldwide. These clouds are run by teams of independent server administrators called the Sentinels. They have no access to any transactional data. Their sole responsibility is keeping their server running. The Sentinels are each tasked with maintaining their server which represents a single node in the cloud. Each cloud is load-balancing and self-healing, guaranteeing both uptime and data security with redundancy. The Sentinels are ruled by a constitution and make decisions with a democratic supermajority. They are supported by the recovery of coins that have become lost for over five years.
A significant amount of coding was needed to bring the RAIDA network and CloudCoins into existence. This includes server side and client side applications across multiple platforms. All development was paid for in CloudCoin.