By "learn from" BitCoin, I did not mean "blindly clone". They claim there's some ability to transfer value without an intermediary, which implies some sort of... something... which would enable that. The website doesn't make it clear to me exactly what that is, or I'd be more specific.

They do seem to be fixing one of my primary objections to BitCoin by providing it some real backing... or again, so they glibly claim without details.

If it is just "Hey, we'll store monetary values in the cloud" they're going out of their way to obscure that.

It's really nothing like bitcoin as far as I can tell.

monetary value is stored on the hardware itself it seems, as you can do an offline transfer between two people.

bitcoin needs the cloud as an intermediary to transfer value (cloud acceptance of transactions)

as well bitcoin has traceability with unique identifiers and the text on this site suggests "no user data is transmitted with payment".