Bitcloud is a new protocol being developed based on the ideas of Bitcoin, Mediaglobin, and Tor. The developers hope that this project can one day lead to a decentralization of the internet. Their website further defines Bitcloud as “A Peer to Peer System for Sharing Bandwidth.” They also said that "We will start by decentralizing the current internet, and then we can create a new internet to replace it."

Their anonymous team with rather ambitious goals plan to engage in similar methods as used in Bitcoin mining to provide services currently being controlled by internet service providers and corporations.

An introduction to Bitcloud breaks down three areas as follows: users, nodes and publishers. They state that “any person can become a user, a node and/or a publisher at any time.” The intention is that internet users will perform any one of various tasks for each other such as: cloud storage, routing, lookups, computing, providing bandwidth, etc. This would be done in exchange for minimal payments. In other words, rather than using the normal processing power to move around digital currencies, Bitcloud wants to use its own similar method to provide internet services. They define this as “generating money from bandwidth sharing instead of mining.”