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Scientist says new currency will supplant Bitcoin
Worthington appeared promoting his new book, Beyond Bitcoin: The Future of Digital Currency and discussed why Bitcoin is flawed. He listed the advantages of his alternative, CloudCoin.
CloudCoin is a digital currency that Worthington says is superior to Bitcoin because CloudCoin's underlying technology, the patent-pending RAIDA system, solves the problems faced by Bitcoin's blockchain technology.
"I think you're right that currencies don't have to be created by the government,"
Worthington said money is just information or data.
"Money has to have both physical and logical integrity," he said, "These are the same things we have on databases. Money can't simply appear—like counterfeiting—
Larson and Worthington also talked about how governments will be threatened by digital currencies like CloudCoin.
CloudCoins have been trading publicly for several months and the trading price has risen as much as 850%.
Worthington's book details Bitcoin and blockchain's shortcomings, including the sheer size of the blockchain (150 GB and growing), the massive amount of power consumed by Bitcoin mining (as much as the entire state of New Mexico each day) and the tremendous length of time it takes to conduct Bitcoin transactions (from two hours to as much as two weeks).
Worthington is a tenured faculty member in the Computer Science department at Butte College in Calif. His book is available free at http://digitalfrontiernews.com for a limited time, along with five free CloudCoins.
Visit http://cloudcoin.global for more information about CloudCoin and the provisionally patented RAIDA technology.
Contact Ace Fogerson for more information or to arrange an interview with Worthington.