the cloud token ico
Q1: What is Cloudwith.me?
Cloudwith.me, provides a managed hosting solution for access to AWS and Azure cloud services. It provides improved efficiency for individuals and business owners, from SME to enterprise, by simplifying the process and minimizing the amount of time and complexity required to set up and maintain their cloud servers.
The launch of its cryptocurrency, “Cloud Token,” brings decentralized cloud services into the mainstream and already now enabling users to pay for cloud services at a significantly reduced cost.
Q2: Who are the founders?
Cloudwith.me was founded by Asaf Zamir and Gilad Somjen.
Asaf started programming at six years old. As a young founder under the age of thirty, he has dedicated his life to innovation in technology and systems architecture. He won a Google grant for innovation for creating a big data aggregation system. He also built a large-scale system, which services over 5 million Monthly Active Users (MAUs) for media companies in the U.S., led a B2C development project for Switzerland’s largest retailer, and built out the app infrastructure for Germany’s top news agency.
Gilad is an online marketing expert, serial entrepreneur and tech investor. He has over 12 years of experience in global business development, internet ventures and online marketing.
Q3: How has the company been financed so far?
Cloudwith.me was bootstrapped by founders with over 1.5m EUROs from family and friends.
Q4: How do cloud services work currently?
Today, cloud services are dominated by a small group of corporations. These companies host large parts of the web on massive data centers; AWS, by far the largest, currently has 16 dedicated data centers across the world. These cloud services companies act as wholesalers of cloud servers, storage, traffic capacity, web applications and other related infrastructure. This centralized model has inherent vulnerabilities which the decentralized model will help to greatly improve.
Q5: What does the decentralization of cloud services mean?
Decentralizing of cloud services means a disruption of the cloud status quo. Millions of computers worldwide will contribute their redundant resources, such as processing power or data storage, to power the cloud. This could include one’s laptop, phone or computer -- or even an Internet of Things (IoT) connected device, such as a washing machine. The decentralized structure creates a more competitive environment, reducing the cost of cloud computing and the risk of network outages. It also has a higher level of data security and privacy and greater degree of automation.
Q6: What will happen to centralized cloud providers, like Amazon Web Services, in this new cloud landscape?
Existing cloud providers will still be a part of the cloud. Cloudwith.me has partnerships with Microsoft Azure and Amazon Web Services. But rather than holding the keys to the cloud, these providers will be on an equal footing with all the other millions of computing providers, including you and me.
Cloudwith.me believes this decentralization of the cloud is actually likely to increase revenues for existing cloud providers, as it will increase the takeup of cloud computing by mainstream users.
Q7: How is Cloudwith.me revolutionizing cloud services?
Cloudwith.me brings cloud computing into the mainstream. Until now, the cloud has only been accessible by tech professionals. Other pioneers in this space, including Storj and Golem, have been highly successful in creating technologies decentralizing parts of the cloud services, but their solutions are targeted at professionals. For the ordinary user, setting up online cloud storage is still expensive, confusing and laborious. Cloudwith.me streamlines this process for the user, and reduces the overall costs of the service.
For instance, say you are a small business owner launching a new product or service, and want to give your website a boost for the extra traffic you anticipate. Cloudwith.me will enable you to buy other internet users’ spare computing capacity to power your website. This is far more efficient and cost-effective than setting up a web server directly through existing cloud providers.
Cloudwith.me will do this by enabling everyone to provision their own private blockchains, tailored to their needs and benefiting from the inherent Etherium attributes of security, privacy and complete decentralized self-governance. Currently, Cloudwith.me makes professional cloud services accessible to ordinary users at a lower cost. The addition of the Etherium-based “Cloud” token will be the first phase in Cloudwith.me’s vision of their own unique Decentralized Application Protocol (DAP) by providing a standard currency for all cloud services and service providers. This will enable users to benefit from cloud services at a significant cost reduction.
Q8: What is the technology behind Cloudwith.me?
Cloudwith.me will give customers a private blockchain application platform in the decentralized cloud. Smart Contracts encode business rules into the private blockchain, which can be tailored to the user’s needs. For instance, Smart Contracts can keep a customized receipt of the services a user has utilized, enable P2P file sharing, and even to utilize idle computer processing power across the user’s devices.
In creating its Decentralized Application Protocol (DAP), Cloudwith.me will offer a unique platform for users to access and install cloud service applications directly into their private blockchain. DAP is based on the Etherium infrastructure, which stores data on a blockchain, and is incentivized through cryptocurrency tokens. DAPs can provide a wide range of decentralized P2P cloud applications, including media services, P2P insurance, decentralized banking, financial services, and other applications.
Q9: Why is Cloudwith.me launching an ICO?
Cloudwith.me’s issuance of its cryptocurrency, “Cloud Token,” will provide a smart payment solution for decentralized cloud services. In its first phase, Cloud Token will enable users to pay for cloud services at 50% of the cost. At the next phase, Cloud Token will become the token governing exchange of decentralized peer-to-peer cloud services. This will turn cloud services into a commodity product which is universally accessible by users across the web -- not just tech experts, and will significantly increase accessibility to such services to developing countries that have no ability to use credit cards which is the only method of payment currently available by the large service providers.
Q10: What makes Cloudwith.me’s ICO unique?
This is the first “ICO for All” enabling users to purchase a cryptocurrency with credit card or wire payment as well as with Bitcoin or Ether as was until today. This opens up the ICO to a broader market of users outside of the cryptocurrency community sphere. Cloudwith.me’s ICO also provides an end-to-end platform of token services including a personal wallet and a built-in 3rd party exchange services to sell or buy the new token. The Cloud Token can be used immediately upon close of the ICO to pay for cloud services from the world’s largest cloud providers for 50% of the cost, if users purchase these services through Cloudwith.me using Cloud Token as the method of payment.
By instantly transferring Cloud Token to users and providing an immediate ecosystem of services where the Cloud Token can be put to use, Cloudwith.me aims to create maximum liquidity in Cloud Token. Cloud Token will be the currency of standard for all Cloudwith.me services, and is already supported as a method of payment. This creates immediate liquidity and turnover of trading in Cloud Token.
This is the first ICO in Ireland, a burgeoning European tech hub.
Q11: What will the ICO funds be used for?
Cloudwith.me will invest the proceeds from the ICO predominantly into realizing its vision of decentralized cloud services. This includes the development and deployment of their own unique GridNodes infrastructure and Decentralized Application Protocol (DAP).
Founders and employees of Cloudwith.me will receive 4% of the total issued Cloud Token, however, they will not be able to sell any of their coins for a lockup period of 12 months. Based on the Etherium infrastructure, their DAP will enable the easy design and launch of decentralized peer-to-peer cloud applications such as media services (music & film), social peer-to-peer insurance, decentralized banking, financial services and other applications without limitations or central governance - all monetised by a single uniform currency - the Cloud Token. The protocol will allow seamless setup of self-governing smart contracts for unlimited range of social applications.
Q12: Where do Cloudwith.me’s revenues come from?
Cloudwith.me currently offers access to Microsoft Azure and Amazon Web Services with its Basic package (1GB Memory, 1CPU 2.5 GHz, 6GB Storage, 3GB Bandwidth) starting at $40 per month, and going up to $460 per month for its Enterprise package (8GB Memory, 2CPU 2.5 GHz, 16GB Storage and 16GB Bandwidth) as well as Microsoft Azure services with a start up plan (2GB Memory, 1CPU 2.5 GHz, 10GB Storage, 6GB Bandwidth) for $100 a month up to Enterprise (16GB, 8CPU 2.5 GHz, 80 GB Storage,16GB Bandwidth) from $800 a month.
Q13: Who uses cloud services?
Takeup of cloud services by businesses is already quite high. A 2016 report by Intuit Developers states that 63% of small businesses already use cloud services in some form. A 2014 study by IDC found that 65% of small and medium businesses worldwide use cloud storage. IDC forecasts that the global public cloud service industry will reach over $195 billion in revenue by 2020. Cloudwith.me will open up cloud services to the mainstream market.
Q14: What is the value of each Cloud Token?
The initial value of the Cloud Token is $10 USD per coin on the day of the ICO.
Q15: Can users buy Cloud Token with a credit card?
Cloudwith.me enables users to purchase Cloud Token with a credit card, bank wire transfer, Bitcoin or Ethereum.
Q16: Where do users keep their Cloud Token?
During the pre-order stage and ICO day, a user’s Cloud Token are kept in a personal electronic Coin Wallet provided by Cloudwith.me. Once the Wallet is generated, Cloudwith.me provides a private key which gives the user access to their Wallet.
In addition, users can log into their accounts with the Cloud site and see the balance and valuation of their Cloud tokens.
Q17: Can I keep other cryptocurrencies in the Wallet?
Users can keep any number of existing cryptocurrencies in the Wallet.
Q18: How do users know how much Cloud Token is worth?
After the ICO has closed, users can login into their account on Cloudwith.me. Here, they can view their Cloud Token balance and its equivalent value in other currencies and cryptocoins, including US Dollars, Bitcoin and Ether.
Q19: What if a user wants to sell their Cloud Token?
After the ICO has closed, users can log into their account and sell Cloud Tokens through the exchange service provided by Cloudwith.me for any other number of cryptocurrencies.
Q20: Will more Cloud Tokens be generated after the ICO?
By the end of the ICO day, the final amount of Cloud Tokens will be set and publicized. After this, no more Cloud Token will be generated.
Q21: What are the benefits of the pre-order stage during the Cloud Token ICO?
To incentivize the early purchase of Cloud Tokens, Cloudwith.me is offering a 20 percent bonus on the first day of the pre-order. The bonus is on a sliding scale from 20% on the first day of the pre-order to 0% (no bonus) on the ICO day.
Q22: Can users trade Cloud Tokens during the pre-order stage?
During the pre-order stage, the Cloud Tokens will be delivered to a user’s wallet, but it will not be possible to trade, send or receive Cloud Token. After the ICO has closed, all Cloud Tokens can be freely traded.
Q23: Do users get any rights or shares in Cloudwith.me by buying Cloud Tokens?
Cloud Tokens do not in any way represent shares in Cloudwith.me. They do not provide users with voting rights or any other corporate rights for that matter.
Q24: What happens to Cloud Token if Cloudwith.me goes bankrupt?
Cloud Tokens are independent from Cloudwith.me. Cloud Tokens will have their own value dictated by the demand for the Tokens and the market forces governing it. If the Cloud Token becomes a popular cryptocurrency used by many people, it may outlive any potential bankruptcy or other adverse event faced by Cloudwith.me.