The big TOKEN battle
Tokens are the latest and greatest thing in the business world. They are frightening to some and exciting to others. They will change forever how we certify and authenticate ownership. It’s an area called FinTech, which stands for ‘financial technology,’ and it’s an outgrowth of the crypto or blockchain phenomena most associate with the word Bitcoin. … but it goes much beyond that.
Think titles of homes, stock certificates, brand name verification, (think genuine Nikes’) bonds, proof of product quality, etc. In other words, they represent things of value. The list can and will just go on and on. They are going to affect accountants, lawyers, just about every company issuing stock, initial coin offerings (ICOs), real estate syndication, crowd funding, escrow companies, shipping, farmers, pharmaceutical companies, recycling, and even your local grocery stores.
So, it’s not surprising that there’s a battle for market supremacy … aka market share going on for the future of this huge new industry, and as usual, just to make life interesting, there’s a new David and Goliath story involved.
This time between the ERC20 Tokens from Ethereum, one of the multi-billion dollar giants of the crypto world, and the contender being RAIDAtech’s new cloud-based digital technology which is very different because it does not rely upon cryptography.
RAIDAtech has come out with their own Tokens that can be white labeled. In other words, they can bear your own or your company’s name and be used for whatever you wish. There are two different types of tokens that can be white labeled; (1) ERC20 that matches its monetary value to Ether, and RaidaTech tokens that matches its monetary value to CloudCoin. (2) With RAIDAtech there is a second possibility which is white label tokens that represent ownership of something. A person or business could use tokens to sell participation in a private home or in a large housing community. Perhaps even sell shares in a valuable painting. These individual units or shares could then be sold on a peer to peer (P2P) basis or possibly on an exchange without having to liquidate the property. Tokens will greatly increase the liquidity of any verifiable valuable and are the wave of the future.
One easy way to understand the difference is that you can buy ownership tokens with coins but not buy coins with ownership tokens. White label coins are a currency. Tokens are like a share of stock.
There’s a great deal of information about the Ethereum ERC20 tokens on the web so I’m not going to get into that here, but here’s a quick definition: ERC20 is a protocol standard that defines certain rules and standards for issuing tokens on the Ethereum network. In 'ERC20', ERC stands for Ethereum Request for Comments and 20 stands for a unique ID number to distinguish this standard from others.
The news is that there is a completely new platform in existence now that will be challenging many aspects of the FinTech Revolution. It’s a patented cloud-based technology that has many advantages over cryptography-based technologies like Ethereum or other blockchain applications like Bitcoin. Like Ethereum and Bitcoin that use the blockchain, this new technology has its own form of alternative currency named CloudCoin and has its own wallet.
RAIDA, which stands for the Redundant Array of Independent Detection Agents is a new authentication protocol which has data supremacy and is a quantum-resistant Post-Blockchain Technology.
The development team of the CloudCoin Consortium believes they have developed the easiest, fastest and cheapest way to create the White Label Coins … with no transaction fees, which is a big plus!
Here are some of the highlights
Individuality: One of the options is that the Consortium dev team offers users the possibility to brand all their digital currency transactions and create the design of their own CloudCoin Wallet Software. It means that RAIDA Wallet, also known as the CloudCoin Wallet along with what is called the SkyWallet technology, can be branded.
The Coin and is completely brandable and it’s been made easy to customize. In many cases, you can create your own wallet and coin within a few hours and begin marketing it the very next day. Assistance from Consortium development team is also possible.
RAIDA and its CloudCoin - Digital Currency can compete directly with all Ethereum ERC20 tokens.
- RAIDA White Label Coins or just RAIDA-X standard will allow users to convert CloudCoins to a new format for a variety of uses, including Initial Coin Offering (ICO) or many of the uses touched upon above.
- You can even issue white label CloudCoins which have monetary value. These white label coins would be CloudCoins that feature your company’s name. This is a different type of token that would have the same monetary value as a generic CloudCoin and like the Ethereum ERC20 tokens could go up in value.
If we will compare ERC20 with RAIDA-X you will notice the following advantages:
- ERC20s require a constant supply of "gas" or funds to keep it going while RAIDA-X never needs any fees or charges.
- ERC20s have all the drawbacks of crypto currencies while RAIDA has, such as
* Greater security * Greater privacy * Quicker transaction speeds * Cannot be permanently plus all other advantages of RAIDA over Blockchain)
- ERC20s have a variable amount that goes up. RAIDA always has a fixed amount of coins - 1,428,160,512.
- ERC20s may require expensive wallets development. To create RAIDA White Label Wallet costs 25,000 CloudCoins.
- ERC20s may require weeks to get up and running. RAIDA coins can be up and running within hours.
- ERC20s require an initial investment. RAIDA-X can start with just one coin and scale up to 1,428,160,512 coins.
- ERC20s require a crypto wallet while RAIDA-X can be embedded in jpeg. or png. image for better marketing.
In other words, RAIDA can solve most of disadvantages of ERC-20 and provide:
- Transactions without fees (no “gas”)
- Greater security
- Greater privacy
- Quicker transaction speeds
- Tokens cannot be permanently lost
- All other advantages of RAIDA over Blockchain
- Less expensive and less complicated, yet more versatile wallets
- Better and more customizable options for storage, transmission and distribution
- Ability to have a fixed supply of tokens
- More affordable and more scalable start-up—can begin with as little as one token
Many projects are already looking at using the RAIDA-X (aka RAIDA White Label Coins) standard, including many hoping to be listed on the CoinKeeper digital currency exchange. The new RAIDA-X standard offers new options to any venture looking to use tokens in smart contract or any other FinTech applications.
Just as ERC20 are Ethereum coins with a customizable name, RAIDA-X are just CloudCoins with a customizable name. Any RAIDA-X coin is 100% compatible and identical to a CloudCoin. This is because they are the same advanced technology under the hood.
If your company wishes to issue a white label version of CloudCoin, perhaps as a premium or reward, it would have added marketing value because its value could go up. This offers a special game for your clients.
As more companies use white label CloudCoins it increases the utility value and demand for RADA’s digital currency CloudCoin, pushing up its price.
What does this mean for CloudCoin? This means that anyone who wants to start a project that includes a token concept, now has the option of using RAIDA-X.
By choosing RAIDA-X, their projects also will have a marketing edge. They can sell their coins for more than if they choose Ethereum ERC20. So, marketers make more money and their customers pay no fees.
Using white label CloudCoins will have some interesting outcomes. The value of CloudCoin will be tied to all RAIDA-X coins except for the value added through by marketing. This will make CloudCoins go up in value and have a more stable price. An example of value added is customers you gave white label CloudCoins redeem them at your store, giving them another reason to return and buy from you.
If a person wants to turn their CloudCoins into their custom RAIDA-X token, that they can find them and buy them quickly. The tools for creating RAIDA-X CloudCoin tokens are open source and available at GitHub.
OTHER TYPES OF RAIDA TOKENS
In addition to generic CloudCoins, other private RAIDA-X tokens are available for all the other FinTech applications referred to above. Those who are interested can contact us for information and a free consultation.