Bitcoin Global News (BGN)
December 03, 2018 -- ADVFN Crypto NewsWire -- A little known start
up now called 21 Inc. is bringing breakthrough possibilities with
Bitcoin to life, and has even developed the contemporary version of
the “Free AOL CDs” that were spammed across the globe to anywhere
internet access could become available. There is constantly talk of
blockchain as the internet 3.0, but the average person has no
concept of what exactly this means. Is this a different place
entirely? Will all current data need to be transferred to this new
network? What makes it special or more important than the functions
of the internet we all are using currently?
Most of what we are familiarized
with today, runs on much more complex systems than we’re aware of.
When the internet became popularized in the 1990’s, it wasn’t the
“World Wide Web” that developers had in mind when they were working
on the systems that would bring it to life. Americans were spammed
constantly with “Free AOL CDs,” and the campaign paid off, as it
was the primary on-boarding system for users in the U.S. as well as
around the globe.
Integrated Payment Systems
- Bitcoin?
Before the explosion of AOL, the
potential of the internet was thought out decades ahead of what the
average consumer is given. Most think of Bitcoin as new, as the
only digital money or internet money - often referred to as “fake
internet money.” But this concept of a digital currency within the
internet was proposed, and even delineated at the outset of the
World Wide Web. A series of error codes outline when a process has
gone wrong while browsing the internet. These error codes lie
within the protocol layer of the internet, one of which is “402
Payment required.”
Formerly known as 21e6, 21 Inc.
proposes a system where Bitcoin becomes this universal currency,
and would be a live accounting system for basically all services
the internet can offer. This is a perfect example of things coming
full circle, as some of Bitcoins design was replicated from an
early internet protocol that used a Proof-of-Work mechanism to
reduce spam emails. With 21 Inc.’s new system, micro payments for a
real-time marketplace of Internet bandwidth.
The New CD - BitSplit
Chips
The companies custom-made
‘BitSplit’ mining chips can be built into any normal tech products
such as USB chargers, PCs, routers, game consoles, phone chargers
and direct chipsets at no cost to the hardware producers. Having
these chips gives the user small portions of the 21 inc.’s mining
pool operations. This small income would further be used to
facilitate everyday internet use for sending emails, running apps,
making in app purchases, or watching videos. When users don’t have
enough Bitcoin connected to their account, the 402 Payment Required
error would be implemented for its original purpose.
There would always be the ability
to purchase bandwidth in traditional ways. However a system l like
this is similar to credit card reward systems. By paying for
bandwidth with this company, users would be given rewards of
Bitcoin, and be able to spend this currency directly, rather than
having to convert to a fiat currency.
By: BGN Editorial Staff