Bitcloud

= "We want to replace YouTube, Dropbox, Facebook, Spotify, ISPs, and more with decentralised apps based on proof of bandwidth". [1]

Description

"Bitcloud aims to harness the same methods used to mine Bitcoins, to provide services currently controlled by internet service providers (ISPs) and corporations.

Individuals would perform tasks such as storing, routing and providing bandwidth, in return for payment.

The founders are searching for developers for the project.

"We will start by decentralising the current internet, and then we can create a new internet to replace it," they said.

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.

"Adding the profit motive to the equation gives this project a chance to succeed where many others have failed in the past," reads the group's white paper." (http://www.bbc.co.uk/news/technology-25858629)