Cloudwith.me Launches ICO to Bring the Next Generation of Cloud to 'The Rest of Us'

DUBLIN, July 25, 2017 /PRNewswire/ --

- Half the cost, secure, private, and reliable cloud services; all run by the cloud community over decentralized peer-to-peer GridNodes infrastructure built on Ethereum   
- $5 million purchased on opening; goal of $300 million
- Token.cloudwith.me creates first "ICO for All" enabling contributions via credit card, bank transfer, and cryptocurrency

Cloudwith.me, a managed cloud services provider, announced today the pre-sale launch of a "Cloud" token, a next generation cryptocurrency or token that ushers in an evolution of the internet's infrastructure to provide low cost, decentralized peer-to-peer internet cloud services. This is the first ICO to offer sale of tokens directly via credit cards and bank wire transfers as well as bitcoin and Ether. In North America however, cloud tokens can be purchased only with Bitcoin or Ether and are available only to accredited investors.

For more information: https://token.cloudwith.me/

"We're driving meaningful evolution that enables millions of people to access the power of professional cloud services at a fraction of the cost and in undeveloped countries," said Asaf Zamir, Cloudwith.me Co-Founder and Chief Technology Officer. "The goal is to create a decentralized peer-to-peer cloud-based ecosystem that will enable millions of people globally to share, operate and get the financial benefits from any cloud service and application directly between them in a trusted and efficient manner; from music to social insurance and investment services, in a wholly secure and private environment. We call it the 'Crowd Cloud.'"

In its white paper issued today at token.cloudwith.me, Cloudwith.me details the blueprint for building a globally decentralized cloud hosting grid, enabling cloud-based applications to scale across millions of cloud service participants. Individuals will contribute small portions of their redundant home and office computer resources via globally deployed GridNodes to become a part of the blockchain cloud grid (thus, effectively creating the new Crowd Cloud), and receiving continuous income as cloud contributors.

The newly issued Cloud Token will be used to automatically distribute payments to the GridNode contributors and other Crowd Cloud participating parties.

Most notably, the Cloud Token can be used immediately upon close of the ICO to pay for cloud services from one of the world's largest cloud providers, via Cloudwith.me, at 50% of the cost. This is anticipated to create significant demand for the services and subsequently cloud token liquidity.

Purchases can be made at www.token.cloudwith.me .

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      CLD
Token owner       Cloudwith.me, 39 northumberland Road, Ballsbridge,
                  Dublin 4, D04 H1F3, Ireland
Financial         Baker Tilly and Hughes Blake, Joyce House, 22/23 Holles Street,
Auditors          Dublin 2
Legal Advisors    Sean Wallace and Alan Ryan, Wallace Corporate
                  Counsel, 39 Northumberland Rd, Ballsbridge, Dublin 4
Token type        Ethereum ERC20
Token sale        Hard cap at USD 300 million
target     
Total Tokens      60,000,000 Tokens Max. Final number of tokens created will be calculated
issued            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 ICO
Token price       ICO Token pricing will be: 1 Cloud = USD 10
Use 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% Public
distribution      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 permitted
Tokens 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 

About Cloudwith.me 

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.

Media Contacts:
United States    
Amanda Drain
Montieth & Company    
adrain@montiethco.com 
+1-646-864-3263

Europe
Zarna Patel
Montieth & Company
zpatel@montiethco.com 
+44-020-3865-1947