Bitcache
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| Initial release | Q3 2017 (projected) |
|---|---|
| Type |
Micropayment Privacy Bitcoin wallet |
Bitcache is an announced blockchain powered service that links file transfers to bitcoin microtransactions. The technology is a core component of the cloud storage service Megaupload 2.0 to be launched in Q3 2017.
The general concept of Bitcache is that it provides an online reward structure for the mass online storage solution Megaupload 2.0. By linking every file transfer to a small bitcoin microtransaction, the Bitcache system provides a feedback mechanism to users with a value associated with each download.
Bitcache is designed to overcome the scaling limitations of blockchain technology which restrict the number of transactions the bitcoin network can handle.
User privacy will be protected using encryption.
In October 2016, a successful public funding campaign on BnkToTheFuture raised more than 1 million USD to fund the platform, with the first half raised exclusively through bitcoin investment.
The project planned to announce a stock and cash merger with a publicly listed Canadian company on January 20, 2017, which would have provided additional startup funding of $12 million and valued Bitcache at $100 million. These plans were blocked after the Canadian Securities Exchange demonstrated a bias against the proposed merger. Following this development, chief evangelist Kim Dotcom stated, "Nothing has changed" for Bitcache, and "Everything is going according to plan."
As of January 2017, the technology's cryptographic logic is done and a team of 12 is getting the service ready for a first release.
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