BitCloud: A Decentralized Internet?

Can a decentralized Internet be a reality? A group is trying to make it so, proposing a peer to peer system for sharing bandwith. Users would help complete computing tasks such as storing, computing, or routing, and be rewarded with cash.

“Just as Bitcoin miners provide computing power and are rewarded for solving complex mathematical equations with the virtual currency, so individual net users would be rewarded based on how much bandwidth they contribute to the Bitcloud network.”

The project is called Bitcloud, and its interests are clear.

“If you’re interested in privacy, security, ending internet censorship, decentralising the internet and creating a new mesh network to replace the internet, then you should join or support this project.”

Currency would be called “cloudcoins” and its use will be similar to Bitcoins.

“For example, someone who wants to advertise on a public video that is streamed from a Bitcloud node will have to pay for that advertisement in cloudcoins. Another example would be someone who wants to pay for personal cloud storage on the Bitcloud network. By monetizing the system, nodes can get paid for their willingness to share bandwidth, provide cloud storage, and allow for direct streaming to stored content.”

“Adding the profit motive to the equation gives this project a chance to succeed where many others have failed in the past.”

The end result: enough capacity to replace a centralized commercial services like Youtube, Dropbox, Faceboo, even ISPs.