We the Internet: Bitcoin developers seed idea for Bitcloud
(Phys.org) —A developer group is seeding a project that would behave as a decentralized Internet, in a departure from the present model. Posting their intentions recently on Reddit, they said "We will have to start by decentralizing the current Internet, and then we can create a new Internet to replace it." Called Bitcloud, they propose a peer to peer system for sharing bandwidth. Individual users would complete computing tasks such as routing, storing, or computing in exchange for cash. As the BBC explained, "Just as Bitcoin miners provide computing power and are rewarded for solving complex mathematical equations with the virtual currency, so individual net users would be rewarded based on how much bandwidth they contribute to the Bitcloud network."