Welcome to iBits
iBITS is a decentralized crypto-currency that goes beyond the function of just a currency.
iBITS recognizes the digital age has transformed society and the way people live their lives. Aside from connecting the world together, the internet has served as an endless populace of information that continues to develop as well as grow at an expansive rate. The underlying uses of the internet have also continued to develop and now go beyond basic communication, rather, we have begun to build networks of decentralized information that can be accessed on a multitude of devices. Cloud computing has allowed us to pool resources together to achieve computational goals previously only possible to those with access to large computer clusters or supercomputers. Globalization has meant that the internet is now the most quintessential tool in any business repertoire.
iBITS is the decentralized blockchain solution to internet transactions. Traditional transactions on the blockchain are visible on a public ledger that all can access and interrogate. This has served as a new paradigm to banking where the decentralized and public record approach has given the user a lot more freedom to do what they want with their money.
iBITS neutrality means that we retain the essence of net neutrality on the Blockchain. Anybody, anywhere in the world can start using iBITS regardless of their location, religion, government or economic regime.
iBITS tackles attestation services in a decentralized fashion. Any digital content file can be hashed and timestamped onto the iBITS blockchain, and this meta-data will serve as a proof of existence for this file. Encoding this hash onto the blockchain means that this file is now registered on the blockchain, and whatever is hashed can now be verified henceforth without ever revealing the actual contents of the file.
Time stamping from this process of attestation means that we are in essence creating a bit of the internet (hence iBITS) and recording it into history through the time stamping + encoding of the metadata on the Blockchain.
Non-repudiation and immutability means that records of these unit actions on the public ledger once entered cannot be changed. This therefore means we treat the public ledger as more than just a transaction record, but rather a decentralized database representing the history of events associated to the encoding of information onto this blockchain.