The coin is how transactions are processed on the protocol and value exchanged. In the cloud storage example given, if I want to hire some storage I would need to have some storageCoin to pay for the storage. Because I'm not hiring the storage from a single centralised place I can't just pay the storage provider in dollars because there isn't one place to pay it. Instead the protocol can distribute the coins to the relevant hosts in the right proportions dynamically and instantly. This wouldn't be possible with something like Visa or invoicing.
The second advantage is this allows you to pay exactly for what you use and for how long you use it by effectively streaming coin in exchange for storage. So I can pay for exactly how long I actually used the storage rather than paying in advance for a storage limit or certain amount of storage that then remains empty most of the time.
I probably mangled that explanation but maybe it helps.
The second advantage is this allows you to pay exactly for what you use and for how long you use it by effectively streaming coin in exchange for storage. So I can pay for exactly how long I actually used the storage rather than paying in advance for a storage limit or certain amount of storage that then remains empty most of the time.
I probably mangled that explanation but maybe it helps.