What is a Cloud Currency?
Cloud Currencies do not depend on encryption but on redundancy along with a patent-pending “distributed, consensus-based, authenticity protocol” (which is non-centralized, so it’s safer). CloudCoin™ is the first and only of its kind yet.
Are Cloud Currencies Better than CryptoCurrencies?
Yes, because they are simpler, they are easier to buy, sell and trade. Yet they also cannot be mined, counterfeited or double-spent. They are more private, more secure, less complex and thereby more fun.
When did CloudCoin get started?
The RAIDA was created in October 2016 and passed all checks on March 15th 2017. RAIDA has never gone down, and the most RAIDA cloud servers that have ever been offline at the same time, is four.
Can “the government” shut CloudCoin down?
The secret to CloudCoin is the CloudCoins themselves. The 25 authentication clouds are located in 22 different countries and managed by independent operators.
Governments would have to shut down all 25 clouds in order to stop CloudCoins from authenticating. However, if one RAIDA cloud is brought down, others pop up to replace it.
As time goes by, and the value of CloudCoins grow, the number of servers will grow as well, to 6,000.
Who Manages CloudCoin?
The Cloud Currency Consortium tries to improve the value of CloudCoins. However, the RAIDA (Redundant Array of Independent Detection Agents) cloud, upon which CloudCoins are traded, is not owned or controlled by anyone or any entity.
In fact, it is in the best interest of all these people that their part of the RAIDA cloud is independent and available.
How can CloudCoin be Hacked?
In order to hack CloudCoin, the hackers would need to take control of a majority of the RAIDA servers. It is highly unlikely that this would happen because RAIDA servers under attack could simply be shut down and repaired if damaged.
Where can I spend/earn CloudCoins?
Beyond the wide and far-reaching OBN membership network, there will be a separate classified system, with a searchable public registry of those who will accept CloudCoins to help you spend them.
How do I buy CloudCoins?
We will have a public registry of sites that sell CloudCoins in exchange for currency. You can expect to be able to purchase them with whatever currency you have.
How can I sell CloudCoins?
You can sell your CloudCoins online, assuming you have a PayPal account or other bank account that receives transfers or wires. You may also accept electronic checks, or ask cash, check or coin to be mailed to you, with your sending CloudCoins upon receipt.
CloudCoin was designed to allow for easy escrow service so this is another option for riskier purchases. Each CloudCoin has an escrow password that you can use to identify yourself as the owner. This is necessary for an escrow account but is not necessary for regular transactions.
How do I make a sale?
You will ask your customer to send you their CloudCoins in the amount you require. You will receive these in the form of a JPG file, via email, Skype, Facebook, over a USB drive, etc.
To cash them, you will go to an authentication server webpage where you will load the JPG, etc, into your browser. The webpage will check the currency for authenticity.
If it is good, send the product. If it is counterfeit, tell the customer that their CloudCoins are no good.
How do I know my CloudCoins are Authentic?
There will be hundreds of websites you can go to. You can load your JPEGs into your browser, and they can be checked for authenticity. You can also download Apps for your PC, MAC and phone that do this.
How do I make a purchase with CloudCoin?
Find someone who takes CloudCoin. Check that your CloudCoin is authentic by going to a website and authenticating. Then send the CloudCoin to the merchant. Wait for them to take ownership.
If they say they can’t take ownership, then immediately re-authenticate your CloudCoins. If it fails, then they have taken ownership and are lying. Otherwise expect them to give you the merchandise.
Can OBN White CloudCoins be used just as plain CloudCoins?
Yes. They are CloudCoins under a different name and may have additional benefits in addition to normal CloudCoins. Their coding and digital signatures are not different. Just the name is.