BitCloud is a project based on the same methods as bitcoins and it aims to provide all services that are currently offered by major corporations and ISPs. The founders of the project are very optimistic and hope that one day they will replace Internet as we know it. The founders are looking for developers who will be given a task to decentralize the current internet and once that is done, they will build a new internet.
Individuals will perform tasks like storing, routing and providing bandwidth in exchange of money. Individual net users will be rewarded based on how much bandwidth they contribute to the Bitcloud Network. The currency behind the project is CloudCoins.
“We will start by decentralizing the current internet, and then we can create a new internet to replace it,” the Founders said. “If you’re interested in privacy, security, ending internet censorship, decentralizing the internet and creating a new mesh network to replace the internet, then you should join or support this project,” they added.
As an example of a popular web service, they said to be replacing YouTube with WeTube, which could also replace the services currently provided by Netflix, Hulu, SoundCloud, Spotify etc. Artists will also get paid some percentage of the advertising revenue.
BitCoins are here to stay, as we all know. Recently Google said to be including Bitcoins in their payment system and some retailers adding the option of payments via Bitcoins and an ATM being opened in Canada just for Bitcoins. So this project is not some blind shot in the night, it could hit the target but it won’t be easy. All the proposals made by the founders seem doable at some points and people keep up the good spirit and support the project like they have always done before, who knows what could be the future. However, the team behind the project said that they were at the beginning of the project.
“There are still many key decisions that need to be made in the Bitcloud protocol. We have a basic idea of how everything will work, but we need assistance from programmers and thinkers from around the world who want to help,” they said.
The network would run like a P2P system, with every computer within it having equal rights. A promise of payments will draw users to the project and they would perform all kinds of services needed and will charge the digital curreny, Cloudcoins.
The big question however is “Do we need a service like BitCloud?” I think we do. With the NSA snooping around, ISPs blocking websites and content discrimination all around, such a project could lead us to the future i.e beyond Internet. We search for Facebook and Twitter alternatives, who knew we might need to search for “Internet Alternative”.