* This is a contributed article. The IBTimes news staff was not involved in the creation of this article and this content does not necessarily represent the views of IBTimes. When you buy through links on our site, we may earn an affiliate commission. Here are our T&C. For licensing please click here.
blockchain
Blockchain is a shared, immutable ledger that records transactions and stores information. Pixabay

Cash exists in our wallets, but no one really knows that we have it. How do we achieve this on a digital level? The problem is known as the double spend. Blockchain has solved this problem, but unlike cash, it is not truly private. Anyone can see a user's transaction history.

“For the first time, a new patent proves that true digital cash can be achieved without the Blockchain.” Said Sean Worthington, Computer Scientist.

Sean Worthington, author of Beyond Bitcoin, the future of digital currency and CEO of RAIDAtech, shared how his philosophical musings on money led him to create a unique solution to address possible instances of counterfeiting digital currency.

"One day I found myself asking, 'What is money?' Dwelling further, I recognized that cryptocurrency was born from libertarian thinking and I developed a solution using technology that would stop the double spending of digital currency," said Sean.

Worthington's fascination with programming began during his younger years, initially learning how to code using an Atari 400, one of the earlier computer models from the 1980’s. He then joined the US Air Force, where he served as Crew Chief for six years. At present, he is a tenured faculty member in the Computer Science Department of Butte College in Northern California and is also widely recognized as an expert in digital currencies.

He later founded RAIDAtech in 2018. The solution he developed is based on 'Data Supremacy' technology--a concept that he was able to patent in 2020. The company made history when it was able to raise the legal maximum limit for a crowd-fund in less than 72 hours.

RAIDA, which stands for Redundant Array of Independent Detection Agents, is the first-of-its-kind patented authentication protocol. It is a post-blockchain alternative that can do anything Blockchain can do, but better. The company is backed by a mission directed towards developing applications that support Data Supremacy--where hackers, governments, tech giants and even system administrators will not be able to compromise databases.

He is also credited for creating CloudCoin, a new digital currency aimed at addressing several issues with the current batch of cryptocurrencies through its removal from Blockchain technology. Because it doesn't utilize blockchain and has no user accounts, private keys or public ledgers that track everything, CloudCoin is the most private digital currency to have ever been developed.

"There are just too many challenges with cryptocurrencies built on Blockchain. These challenges are the same reason why simple purchases like buying a cup of coffee are too complicated to complete. With CloudCoin, the transaction time is instant with no fees, and Cloudcoin is well on its way towards mass adoption," he said.

Worthington explains that the currency makes use of a new internet architecture. Up until now, information systems have used either peer-to-peer or client server. Blockchain uses peer-to-peer, but peer-to-peer suffers from low performance. Client server is fast, but vulnerable to attacks. The new architecture is client-many-servers, which has the speed of client server and the decentralization of peer-to-peer.

This new architecture gives Cloudcoin many unique properties, including the ability to be recovered if lost.

"If I was hired by God, it would be to create technology that will protect our freedoms against the tyranny created by governments, tech giants and hackers. I remain steadfast in my commitment to create and develop sustainable and highly efficient software that can help in the crusade against counterfeiting," concluded Worthington.