Frequently Asked Questions

Blockchain database: is a decentralized database based upon a carefully analyzed system of rules (a protocol) governing how that database can be updated. Blockchains come in two main flavors: public database and private database. Example of a public blockchain database is Bitcoin. Example of a Private blockchain databse is the Chinese Yuan Coin cryptocurrency assets. USA is finanlizing development of USD coin based on decentralised blockchain database.

ACB – ACB, USD, CNY, RUB, KSH... literally any FIAT or CRYPTOCURRENCY in existence today. However, ACB is the core asset utility which is needed to submit transactions on CloudBank Blockchain; it is also used for CloudBank development purposes; while ACB asset shareholders are in power to manage and develop CloudBank and influence it’s future using several decentralized integrated functions and tools such as decentralized worker and voting system.

You can find the official releases at GitHub: https://github.com/homepesa

CloudBank is an investment currency with its own digital currency, ACB. With CloudBank, users can trade and invest in an essentially unlimited list of assets while taking advantage of the blockchain’s security. CloudBank has the features you expect from a traditional trading platform, but with the added advantages of cryptocurrency and blockchain technologies, such as decentralization.

ACB is stored at Blockchain; some are storing it with custodians like centralized exchanges; while you can be the custodian by yourself using several client browser based wallets with just having public and private keys saved.

CloudBank allows individuals and companies to create and issue their own tokens for anything they can imagine. On the one hand, UIAs can be used as simple event tickets deposited on the customers mobile phone to pass the entrance of a concert. On the other hand, they can be used for crowd funding, ownership tracking or even to sell equity of a company in form of stock. Obviously, the regulations that apply to each kind of token vary widely and are often different in every jurisdiction. Hence, CloudBank comes with tools that allow issuers to remain compliant with all applicable regulations when issuing assets assuming regulators allow such assets in the first place.

SmartCoins are cryptocurrencies with a value pegged to another asset, like gold or the U.S. dollar. ACB, the core currency of CloudBank, always backs 100 percent or more of the value of SmartCoins. Users can also convert SmartCoins to ACB at any moment with the exchange rate from the price feed. SmartCoins are almost always guaranteed to have a value that is at least their face value, with the exception of the most extreme conditions in the market. As a cryptocurrency, SmartCoins are free from restrictions, divisible, and fungible.

CloudBank includes a decentralized asset exchange of a high-performance nature. This exchange is capable of handling the same trading volume as the NASDAQ yet settles orders the same second that they are submitted and includes features you want from your trading platform.

While many of the transactions on the CloudBank exchange will involve trading SmartCoins, users can trade nearly anything. Provided an asset has enough interest, there are minimal limits to what users can trade. Examples include cryptocurrencies, national currencies, oil, gas, silver, and gold. The exchange has support for assets that track inflation, indexes, bonds, and stocks. Companies even have the ability to issue their own stock using the CloudBank network then offer low-cost trading that includes protection from naked shorting.

The Dynamic Account Permissions are a key technology of CloudBank. They are the result of CloudBank designing permissions based on people as opposed to cryptography. This makes it possible for accounts to be controlled via weighted combinations of private keys and other accounts. The hierarchical structure involved was designed to mimic real-life permissions and allow for simpler multiuser control of funds. It is this multiuser control that dramatically enhances security and can almost completely eliminate risks of hacking-related thefts.

One of the many areas in which CloudBank stands out from other smart contract platforms is in its support for scheduled as well as recurring payments. Thanks to this feature, users can set up authorization for a third party to withdrawal from their account given certain limits. It is particularly useful for monthly subscriptions and bills.

Like many other blockchain-based platforms, CloudBank offers a referral program with rewards. This advanced referral program is actually built right into the software. As a financial network, it benefits both CloudBank and every user on the network if more people use the platform. With the referral program, you can get $80 or more for each Lifetime Member that you get to sign up. Specifically, Lifetime Members will pay $100 and get 80 percent cash back for each fee that they pay. If they refer a Basic Account to the network, they get 80 percent of those fees, as well.