Diogenes’ Search for an Honest Man
By Christopher Davis
Diogenes was a controversial Greek philosopher who did not have a high regard for people’s truthfulness and is primarily known for his flamboyant protest and what he termed his search for an honest man. He walked through the streets of Athens in the middle of a bright sunny day carrying a lit lantern to symbolize the futility of his search. Why?
He was originally a citizen of Sinope, a city in Turkey, where he worked with his father in banking, where they handled the coinage or minting of coins (money) for the state.
They were caught shaving off small amounts of gold. Then they were convicted, disgraced, and banished into exile for counterfeiting or debasing the currency.
Different stories imply that some politicians had been involved but did not get charged and this upset him further. In any case his personal involvement in the dishonesty so embarrassed and upset Diogenes that he began a life-long protest against dishonesty and dramatized his remorse and his contempt for dishonesty by roaming through the streets of Athen carrying a lit lantern to signify what he felt was a hopeless search for an Honest Man. His search has been continued by many, especially regarding the realm of banking and economics, which it is widely agreed spawns most of the world’s inequality, greed, social unrest, and corruption.
This corruption was a motivating factor for Satoshi Nakamoto in his development of Bitcoin, which was released in 2008 following that economic crisis. While Nakamoto introduced the concept of trust-free alternative currencies, Bitcoin did not fulfil all Nakamoto’s hopes.
DIOGENES' SEARCH IS OVER
On May 12, 2020, the U.S. Patent and Trademark Office awarded Sean Worthington USPTO Patent # 10650375 for the underlying technology that makes the new CloudCoin digital currency possible.
The patent is entitled "Method of Authenticating and Exchanging Virtual Currency."
This new form of cloud-based digital currency has been referred to as the next evolution of cryptocurrency and is said to finally complete the dream of Satoshi Nakamoto as put forth in his 2008 white paper for a totally private, trust-free, decentralized and impenetrable peer-to-peer electronic cash system that allows for payments to be sent from one party to another without going through a financial institution.
The patent is now listed publicly on the USPTO website and can be accessed here.
A method of authenticating and exchanging virtual currency is used to permit secure ownership of virtual currency and manage financial transactions. The method is performed by a system that includes a user computing device and a plurality of remote servers. The user computing device stores an unverified certificate which is used as currency. The plurality of remote servers is used to authenticate the unverified certificate and aid in transferring ownership of the unverified certificate.
To do so, each remote server executes an authentication process for the unverified certificate and sends either a pass status or a fail status to the user computing device. The user computing device executes an assessment process for the unverified certificate based on the pass statuses and fails statuses received. Authentication information related to the unverified certificate is then updated on the user computing device and each remote server that returned the pass status.
The patent will be protected from infringement or encroachment for a decade after issuance. The network of distributed, decentralized and independent servers Sean H. Worthington described in the patent, is what we now call RAIDA (Redundant Array of Independent Detection Agents).
The present invention relates generally to methods of managing virtual currency and related transactions. More specifically, the present invention is a method of authenticating and exchanging virtual currencies that prevents counterfeiting and theft.
This is momentous news for CloudCoin! The USPTO approval is a strong affirmation of the value of the underlying protocol as a novel system for authentication, as well as for its use as a blockchain alternative or possible amelioration/supplement to overcome blockchain inefficiencies. This is the first proven technology for Cloud Digital Currency to receive a patent.
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