The EuroCloud Hungary Association is the member of the EuroCloud Europe organization, which was founded in 2011, Hungary. The organization is focusing on to popularize cloud computing and companies that work on this technology. To help this, the organization announced the Hungarian Cloud Award competition in 2014, for the following categories:
1. Best Cloud Player
2. Best Cloud Startup
3. Best Private Sector Cloud Story
4. Best Public Sector Cloud Story
5. Future Digital Business (Best Cloud User)
6. Featured Award: Best Cloud Security Concept
7. Featured Award: Best Cloud Competence Center

The Best Cloud Security Concept featured award was given to Red Steed Studios Kft, which created a highly secure bitcoin-like virtual payment platform. The Virtual Money Framework booked its first success in February, 2014 – when the first Bitcoin ATM was set up in Singapore. Based on the jury’s estimation, we can predict to see more and more virtual payment systems showing up in the near future, and it is essential to make them secure. In the case the system spreads, there is a possibility that Hungary is going to be one of the central places for secure and regulated virtual payments.