Simple, Safe and Easy!
CloudCoins are composed of codes embedded in files, stored on paper, or remembered in your mind. These codes can only be used once, and then they change, making it so that CloudCoins cannot be counterfeited, mined, double-spent, or destroyed. The total amount of CloudCoins in the cloud never changes. Unlike Bitcoins that can are mined into existence, CloudCoins were minted, and then the mint was destroyed. There are precisely 16,777,216 units, and this cannot be increased or reduced because the number is based on the length of the Serial Number in bits.
The CloudCoin Consortium was created in October of 2016 by its founding member Sean Worthington. In June of 2016, Mr. Worthington was sitting in his bath listening to the Stephan Molyneux Philosophy program when he realized monetary systems are physical implementations of information systems and money is data. If the principles of useful data could be applied to money, then a perfect monetary system could be created. Worthington was working on a Ph.D. (Computer Information Systems) dissertation on artificial intelligent object recognition system that could recognize money for vending machines.
In August 2016, Worthington minted 16,777,216 CloudCoin notes and registered them with the RAIDA – then in experimental development.
After filing a provisional patent, he set out to create the RAIDA. The provisional patent was granted (#62354022). To implement and demonstrate how monetary systems are information systems, Worthington first needed to recruit world-class Systems Administrators throughout the world
Our mission is to provide a “perfect” global currency that cannot be counterfeited, double-spent, mined or lost; A Digital Currency that is 100% private, requires no public ledgers, accounts, or even encryption; A monetary system that is absolutely fair and ethical around the world.
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