Filecoin is an open-source, public cryptocurrency and digital payment system intended to be a blockchain-based cooperative digital storage and data retrieval method. Filecoin is built by Protocol Labs and will be launched in the near future. Filecoin allows users to rent unused hard drive space. A blockchain mechanism is used to register the deals. Due to Filecoin's decentralized nature, it protects the integrity of data's location making it easily retrievable and hard to censor. It also allows people on their network to be their own custodians of the data that they store. Additionally, Filecoin also rewards the network nodes that mine and store data on their blockchain network. Filecoins have been sold to accredited investors. Is Filecoin a coin, a security token, or a utility token. Why?