CloudCoin is slated to join BitCoin in more than 40,000 ATM machines globally, including 15,000 units in the US alone. CloudCoin founder Sean Worthington said that users will be allowed to use the B4U Financial-owned ATMs to withdraw cash from their CloudCoin account, as well as directly purchase and sell CloudCoin.
The company also hinted that it will be “making a HUGE impact” in the global gambling and casino industry for the coming weeks.
CloudCoin prides itself in its ability to be “Quantum Safe”, which means that the Blockchain will be safe from being exploited by advanced decrypting software unlike quantum computers. CloudCoin is built on the Redundant Array of Independent Detection Agents (RAIDA) protocol, which utilises authentication rather than encryption to determine the ownership of a coin. This RAIDA technology is expected to be the foundation of secure servers e-mails and financial transactions everywhere.
Bitcoin transactions can be slow, with some taking hours to days before it can be fully processed. CloudCoin cuts down the transaction times significantly, taking only microseconds to transact. Users are also able to transfer CloudCoins via messages and email apps such as Telegram or Gmail. These transactions are free of charge.
The company claims that CloudCoin are recoverable when lost unlike Bitcoin, providing two separate ways to recover lost coins.