Dec 17, 2018
At Kloud Token, we have a great appreciation for technology and the exciting innovations they bring to the world. Blockchain and crypto currency are no exception; one of the greatest technologies to meet the financial world is the development of a distributed, consensus-driven digital ledger system. Prior to the creation of blockchain, financial ledgers were traditionally managed by centralized entities; whether these entities be commercial banks, accounting departments or Finance Directors; the centralized management of financial data has always been vulnerable to ever-increasing cyber threats in the digital age.
Arising from our in-depth analysis of crypto currencies, the foundation technology elements like blockchain do have real value in today’s fast pace financial landscape. This has been affirmed by public adoption of blockchain projects by prominent banks, businesses and other entities, all attempting to build blockchain applications and software to take advantage of this still emerging technology. There are yet others who attempt to take advantage of this technology while those use cases may not significantly benefit from blockchain. Within the walls of this whitepaper, Kloud Token discusses many of the flaws that blockchain and crypto currency exhibit, and proposed counter-measures to fill these gaps with renewed hope. It also discusses provocative innovations to treat with timeimmemorial problems that have faced currency in general, such as dealing with theft and unauthorized access; this Whitepaper goes beyond the seemingly mainstream methodologies used by many crypto makers today involving the use of current blockchain technology like those of Bitcoin and Ethereum to derive some tangible benefit through development of apps, decentralized applications (DAPPS), smart contracts and many more novel ideas.
These ideas have unfortunately seldom attended to the real use of currency – as a medium of exchange or trade for other currencies, commodities and services as users of crypto currency today mainly focus on the speculative value they can attain. Within the Kloud Token philosophy, currency should empower, not limit humanity; it should bring new hope to citizens in need, not be guarded from them; it should open new possibilities to cross the boundaries of international trade, not restrict it; it should be used for the good of humanity, not be secluded by the wealthy.
The many features of the Kloud Token project such as 100% traceable currency ensures issues like theft become a thing of the past; for example, Kloud Token will partner with local and international law enforcement to trace stolen tokens, while simultaneously shutting down those affected assets on the network and reimbursing the affected user with an equivalent amount, thus removing many risks of owning any currency. Another great feature of our platform is the operation under a 50-year strategic period; this will allow Kloud Token currency, platform and ecosystem to become survivable and robust for the long-term, bringing the full Kloud Token vision to reality; further, successor planning is critical to any business desirous of implementing continuity planning, thus the project also defines a 2-year period of activity to either revitalize the Kloud Token network or migrate into a newer platform with improvements and technology available at that time.
Too lenghty, please refer to whitepaper
Q1 2019 - Q4 2068
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