“In the past, the people that had the money in their wallet (had) physical ownership,” Sean Worthington, the founder of RAIDA and CloudCoin said during the recent interview with Chicoer.com. He continued: “Now it’s the people that know the money own it.”
Holders of a digital currency want to be assured their money won’t be erased or taken away by hackers. Bitcoin and other types of cryptocurrency achieve this through something called a blockchain. Essentially, the blockchain tracks every transaction, every place that money has been before, so the system knows when someone is trying to double spend or change the amount of money they own.
An issue that comes along with that it time. Eight years after development, Bitcoin transactions can still take days to post, deterring businesses from accepting the currency as payment.
In contrast, CloudCoin’s security system RAIDA — redundant array of independent detection agents — simply determines whether or not the money is authentic.
It works like this: When someone sends a CloudCoin payment, it can process in a moment, coming in the form of a file, in JPEG form for example. Embedded within that file are 25 number clusters, which operate as one-time passwords. There is no chain of transactions to find. When a person accepts the CloudCoin, the RAIDA system will scramble the numbers in a unique way. Since it would be difficult or impossible to memorize the numerical sequences, the new owner saves the file to his or her hard drive.
“In the past, the people that had the money in their wallet (had) physical ownership,” Worthington said. “Now it’s the people that know the money own it.” Click here for the whole interview!
Sean Worthington, the founder of RAIDA technology and CloudCoin just started a massive radio and podcast interview tour in USA right before the publishing of his first book (more details soon about the book). Todd “Bubba” Horwitz, the host of the popular financial radio show “The Bubba Show” was the kickstarted of the radio interview tour and click here so you can enjoy Sean’s interview. This will give you more updates about the current state of CloudCoin, Sean’s vision and why it is the best moment for you to involve in owning CloudCoins.
The process of exchanging ownership for CloudCoins is really, really simple but in the same time extremely effective and our users are pretty happy with it! Note: The CloudCoin’s password is 400 bytes long and located in a jpeg file. 1. The Powner (Password Owner) sends the CloudCoin to the Pownee 2. The Pownee will use software to check the RAIDA to see if the CloudCoin is counterfeit and change the password at the same time. Now they become the Powner This is it!
1. CloudCoins cannot be counterfeited or double-spent.
2. CloudCoin transactions are complete private!
3. Not Pseudo-Anonymous like blockchains. You don’t need an account.
4. CloudCoins are really easy to buy, spend and sell. You don’t need special software.
5. CloudCoin does not require encryption!
6. CloudCoin becomes impossible to steal if you encrypt it! They can be recovered if you lose them.
7. The infrastructure of CloudCoin is self-funded by allowing Quorum members to jointly scavenge lost CloudCoin (CloudCoin that have not been spent or checked in years) to pay for their operations.
Georges St-Pierre, often referred to as GSP, is a Canadian mixed martial artist of French descent. He is currently signed to the Ultimate Fighting Championship (UFC), where he competes in their middleweight division and is a former champion.
St-Pierre is also a three-time former UFC Welterweight Champion, having won the title twice from 2006 to 2008, as well as an interim title in 2007. Frequently cited as one of the greatest MMA fighters of all time, St-Pierre was ranked as the #1 welterweight in the world for several years by Sherdog and numerous other publications.
In 2008, 2009, and 2010 he was named the Canadian Athlete of the Year by Rogers Sportsnet. Fight Matrix lists him as the top MMA Welterweight of all time and most accomplished fighter in MMA history.
He retired on December 13, 2013, holding the record for most wins in title bouts and the second longest combined title streak in UFC history (2,204 days). He returned to the Octagon in 2017 at UFC 217, where he defeated Michael Bisping by submission to win the middleweight title, becoming the fourth fighter in the history of the organization to be a multi-division champion. Georges has millions of followers on his social media accounts and got 40k liked in two days for this post on his Instagram account.
We are almost eleven months into the CloudCoin experiment and it has been a great success. We can see that there are on average close to 5,000 transactions every day and growing. These transactions happen completely anonymously and within seconds. This next year promises huge advances CloudCoin use throughout the world.
However, there is at least one person, or small group of people (mostly Italians) who somehow got the idea that CloudCoin was a security. They believed that CloudCoin was run by a company and the owner is Sean Worthington. They bought CloudCoins as an investment and are angry because they were unable to sell their CloudCoin for a profit on an exchange. They call CloudCoin a scam and its inventor a clown.
There is no CloudCoin company. It is not the job of the CloudCoin Consortium to increase CloudCoin’s value. There is no rule that says CloudCoin must be on an exchange or be marketed. The CloudCoin Consortium is here to advance liberty, not your pocket book. We don’t know when — or if — there will be an exchange. We hope there will be one soon but we are not in the exchange business and depend on other people for this. Sean Worthington is a computer scientist who invented a new technology. The CloudCoin Consortium are Libertarians who supports that technology. If Sean Worthington drops dead tomorrow, CloudCoin keeps going. If every member of the CloudCoin Consortium disappears from the earth tomorrow, CloudCoin keeps going. CloudCoin is not a security! It is real money! And it is here to stay.
CloudCoin is going to change the world because it is the most perfect currency ever created. It will go up in value if our hypothesis is true. But don’t come crying to Sean Worthington or anyone in the Consortium if the value does not go up. As a member of the CloudCoin community, and an owner of CloudCoin, it is your responsibility to make CloudCoins successful too.
CloudCoin owners will soon have an option to enhance security and “lock” their CloudCoins with a recovery email and PIN, preventing any transfer without authorization. The process would trade a degree of anonymity for greater protection and quicker recovery of potentially lost coins. All users will have the choice of using the lock or keeping the current enhanced privacy and 100% anonymity.
People who want to learn more about CloudCoin and digital currencies in general, can now turn to a new book that describes what money is how it can be made perfect.
The secrets of money have been discovered.
Monetary systems are, in fact, information systems. They are accounting systems that help humans economize. Like all animals, humans must economize to survive. Monetary systems allow each of us to make decisions to coordinate our actions and to optimize.
Phil Flynn is senior energy analyst at The Price Futures Group and a Fox Business Network contributor. He is one of the world’s leading market analysts, providing individual investors, professional traders, and institutions with up-to-the-minute investment and risk management insight into global petroleum, gasoline, and energy markets. His precise and timely forecasts have come to be in great demand by industry and media worldwide and his impressive career goes back almost three decades, gaining attention with his market calls and energetic personality as writer of The Energy Report.
Recently Phil featured CloudCoin and the RAIDA technology in an article which started by analysing the trends in the price of oil, went through few crypto pairs on Coinbase and mentioned our currency as the solution to end Bitcoin’s crazy fees, exhausting processing times and Blockchain’s lack of scalability.
“Another technology says that it is going to be better than the Blockchain that Bitcoin has made famous. CloudCoin.Global says “bye-bye blockchain.” Their lead scientist and cryptocurrency developer, Sean Worthington of CloudCoin.Global, has announced the availability of CloudCoin, a new digital currency that he says is based on an innovative technology that will challenge the future of Bitcoin and the blockchain, the underlying technology used in most cryptocurrencies. Worthington says the new technology, called RAIDA, solves the physical integrity problem found in digital currencies, but does it much faster, more efficiently, and more securely than blockchain. “The RAIDA technology allows any CloudCoin user to determine within milliseconds if the coin in their possession is genuine or counterfeit by submitting the coin’s 400-bit authentication number to the RAIDA cloud-based global authentication system. Once authenticated, the coin’s authentication number can be transferred to any recipient, who then takes ownership of the coin by requesting a new authentication number, which is known only to them. The CloudCoin transfer is completed in just seconds with a few mouse clicks.
“Whoever knows the coin’s authentication number owns the CloudCoin,” says Worthington, who invented the RAIDA authenticity detection protocol. Worthington says the new CloudCoin currency has none of the problems associated with blockchain technology. As is well-known, blockchain isn’t scalable and it gets slower as more people use it. It can take hours, sometimes days to confirm a transaction. The technology also has a serious issue with energy consumption as it requires thousands of high-powered, refrigerated servers and armies of maintenance personnel to keep the blockchain up and running. That gets hugely expensive,” says Worthington. It’s crazy but it’s a crypto crazy world out there!” Click here to read the entire article!