Cloudwith.me Launches ICO to Bring the Next Generation of Cloud to 'The Rest of Us'
The proceeds from the ICO will be predominately used by Cloudwith.me for global deployments of GridNodes infrastructure, the key module for decentralized infrastructure, and its own unique Decentralized Application Protocol (DAP). Based on the Ethereum infrastructure, the 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 monetized by a single uniform currency - the Cloud Token.
"Decentralizing cloud services will disrupt the cloud status quo," commented Gilad Somjen, Co-Founder and CEO. "Millions of computers worldwide will contribute their redundant resources, such as processing power or data storage, to power the cloud. This could include your laptop, phone or computer - or even an Internet of Things (IoT) connected device, such as your washing machine. This decentralized structure creates a commoditized environment, reducing the cost of cloud computing and the risk of network outages with a higher level of data security, privacy and a greater degree of automation."Key Facts about Cloudwith.me's ICO Token name Cloud (the "Token")Token ticker CLDToken owner Cloudwith.me, 39 northumberland Road, Ballsbridge, Dublin 4, D04 H1F3, IrelandFinancial Baker Tilly and Hughes Blake, Joyce House, 22/23 Holles Street,Auditors Dublin 2Legal Advisors Sean Wallace and Alan Ryan, Wallace Corporate Counsel, 39 Northumberland Rd, Ballsbridge, Dublin 4Token type Ethereum ERC20Token sale Hard cap at USD 300 milliontarget Total Tokens 60,000,000 Tokens Max. Final number of tokens created will be calculatedissued according to contributions demand, it will be fixed and publicized by the end of the ICO day.Mining No mining or any other means of Tokens amount increase will apply to the Cloud Token post ICOToken price ICO Token pricing will be: 1 Cloud = USD 10Use of proceeds Funds from Token sale will be predominately used for the global Deployment of GridNodes infrastructure for migrating the web into a decentralized cloud. See "Use of Proceeds" section in this document.Bonus At the pre-order period Cloud Tokens will be available with a bonus structure as publicized at the official Token ICO site (token.cloudwith.me)Tokens 50% Publicdistribution 46% Company's reserve 4% Management & Employees ("Employee Tokens") Lockup period Management and employees undertake a 12 months lockup period. No sale, transfer or pledge of Employee Tokens will be permittedTokens transfer Tokens will be transferred to buyers upon payment confirmation. Purchased tokens will not be active during the pre-order period (i.e. sale or transfer of tokens will not be possible until the ICO is complete. Tokens will become activated automatically upon ICO completion date and can be freely transferred or exchanged)ICO timeline July 25 - pre-order starts August 9 - pre-order ends August 10 - ICO closing date
Cloudwith.me, founded in 2015 by Asaf Zamir and Gilad Somjen, provides a managed hosting solution for access to AWS and Azure cloud services. Cloudwith.me 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.