Blockchain & The Evolution of The Cloud



Among many other industries and sectors, Blockchain technology is poised to majorly disrupt data storage and cloud computing in the next few years. Instead of storing files and information on centralized servers such as Google Drive, Dropbox or Amazon S3, platforms like Sia or Storj use Blockchain technology to decentralize data storage by breaking up files into multiple pieces, encrypting and sending them to hard drives located all around the world. Individuals and private businesses can participate by renting out their unused hard drive space and make money.

Sia and Storj have launched their own cryptocurrencies (Siacoin, Storjcoin) in order to incentivize usage and to create a market for buying and selling decentralized storage.

Advantages of a Decentralized Cloud

So what are the main advantages of decentralized cloud service vs. private centralized cloud services offered by Amazon, IBM, Dropbox, etc.?

More security & privacy. Decentralized data is also more difficult to attack than centralized data. On a decentralized network, files are broken apart and spread across multiple nodes (with sharding). The files are encrypted with a private key which makes it impossible for the node (participant in the network) to look at your file. Moreover, due to sharding, the files are just a fraction of their original self which render the reading of their content impossible.

File loss prevention through redundancy in data (extra copies stored in case of error in storing or transmission of data).

Cost reduction due to more efficiency. Blockchain storage costs can reduce the price of cloud computing between 50% -100%. (Storj VS Amazon S3 vs Microsoft Azure, via Storj Website)


Increased speed due to servers proximity, scaling effects and fragmentation of data (smaller fragments can be saved and retrieved concurrently).

Decentralized storage will also likely surpass most centralized services in terms of speed. Here is a short description of the most promising current projects :

IPFS/Filecoin : InterPlanetary File System (IPFS) is a content- addressable; P2P hypermedia distribution protocol designed to create a permanent and decentralized method of storing and sharing files. Nodes in the IPFS network form a distributed file system that can be accessed in a variety of ways (for instance via FUSE and over HTTP). A local file can be added to the IPFS file system, making it available to the world. Files are identified by their hashes and are distributed using a BitTorrent-based protocol. Filecoin is the second layer of the project, the digital currency created to incentivize data storage on the IPFS network.

Sia : Open-source software & company that provides decentralized cloud storage technology by splitting apart, encrypting and distributing files across a decentralized network. Sia does not accept payments from customers but only provides a platform where providers run their own private decentralized cloud.

Storj :Company based on Ethereum and P2P protocols that provides secure, private and efficient cloud storage. Storj utilizes file-sharding/fragmentation to store data and protect it with end-to-end encryption.

Maidsafe : Company that aims to create a new backbone, on which data can be stored, accessed and exchanged. The network is made up of all the Upwork Blog post participants who contribute their computing capacity in peer-to-peer fashion. Decentralized Applications (dapps) can be built on Maidsafe.


In summary, decentralized storage projects could benefit individuals and businesses by protecting and securing their personal information at a much lower cost. Companies such as Siacoin and Storj can easily disrupt the space if they establish partnerships with the industry giants. If they manage to do so, Google and Apple could start using their services as back-end platform for storage in order to reduce costs and offer their customers more reliable and consistent uptime.

in the coming years, the entire cloud computing industry will be disrupted by blockchain technology. All parties (clients, industry leaders and blockchain companies) have the potential to benefit from this kind of industry-wide change. However, centralized cloud providers like Dropbox and Amazon, could suffer, see their margins decrease, and even become outdated, overpriced and obsolete if they do not find ways to integrate and evolve with the advances that blockchain technology is bringing to the table.

(Posted with Permission, Original article published on )


Influence : The decentralized cloud and the future of data are here :

Why Blockchains are the future of cloud storage :

Bitcoin magazine :

Cryptomove, Frenzy decentralized :

Wikipedia, InterPlanetary File System, File_System

Crypto Canucks : Head to Head : Siacoin (SC) & Storj (STORJ),

UBS to Launch Live Ethereum Platform with Barclays, Credit Suisse and More

Michael del Castillo   |  Cointelegraph
 Dec 11, 2017 at 12:00 UTC

Described internally as the Massive Autonomous Distributed Reconciliation platform, or Madrec for short, the project led by Swiss banking giant UBS, with help from Barclays, Credit Suisse, KBC, SIX and Thomson Reuters, is designed to make it easier for banks to reconcile a wide range of data about their counterparties.

Traditionally, regulated firms use what are called “legal entity identifiers” that are stored in a global data system to execute transactions on behalf of clients, even if those clients themselves don’t have one of the codes. But as part of a sweeping regulatory change called the Markets in Financial Instruments Directive (MiFID) II, scheduled to go live in the EU on Jan. 3, 2018, all eligible legal entities will be required to have and use these codes.

Instead of mandating that each of these institutions perform these checks independently, though, the banks built Madrec to mutualize much of the effort in a potentially industry-wide reconciliation process hosted in the Microsoft Azure cloud.

Read More HERE

BlockChain 101: Top 3 Rules For Navigating The BlockChain & Crypto Space

Originally Published on Forbes Digital (Curated, Edited & Remixed by COINTEL

Zach Conway |

Many entering the crypto market might look to supposed strategists who offer predictions on which currencies will thrive and how prices in the broader market might trend. Unfortunately, those who claim to know the future constantly contradict one another.

Meanwhile, feelings of greed and the fear of missing out can lead us to blindly jump in based on little more than tips from the water cooler. As an advisor, I encourage everyone to recognize the risks, to better understand the purpose of digital currencies and to discount the advice of so-called experts. To that end, I’ve compiled a list of the top 3 rules for navigating the crypto craze.

  1. Recognize the Risk
  2. Refocus on the Tech
  3. Discount the Experts

So-called experts, especially those of the ‘ old guard of finance’ tell completely contradictory stories, leaving us to interpret an endless stream of inconsistent and very often biased information. For example, Jamie Dimon’s claim that bitcoin is a fraud, is not only biased but also highly ironic in that JPM is spending 10s of millions of dollars to develop their own blockchain, publicly known as  Quorum  that will enable JPM and their affiliates to take advantage of the benefits that blockchains bring to help solve obstacles inherent to fiat currency trading.

Dimon is aware of this and is, but this situation shows his desire to use a centrally controlled blockchain, not so different from the current systems they use only more secure giving JPM and advantage.  this kind of misinformation and misdirection by financial experts is why its better to avoid them when seeking advice on investing in crypto. Even if they are bad mouthing it to some, they are investing in it quietly. Same goes for Goldman and many of the other big players on Wall Street .



Apple’s Latest Patent On Blockchain Use


Apple has joined the majority who had adopted the blockchain technology by declaring its new patent application based on the public application to US Patent and Trademark Office on Thursday where Blockchain technology was used to certify timestamps as a program combined with Public Key Infrastructure (PKI) tools.

Apple’s new patent application describes three possible methods for establishing timestamps, with one of these scenarios centering on a Blockchain platform. There is a use case in question where data stored involves tying a piece of information to a particular transaction on a Blockchain, establishing the state of that data at a particular point in time.

The program would generate a block containing a timestamp, with every subsequent block being added as miners verify each transaction conducted on the chain. This system is part of what Apple is calling a “multi-check architecture,” meaning that another system would confirm the timestamp after the block is generated but before it is added to the chain.

Like other established institutions, Apple believes in the power of Blockchain technology and its benefits though the new patent application.



Cryptocurrency Monero To Be Accepted By Musicians Such As Mariah Carey, G-Eazy, Sia For Holidays

Artists and the music Industry forge ahead with Blockchain for payments.

Laura Shin | Forbes

In a year that has seen some parts of the traditional financial world embrace Bitcoin, it’s only fitting that other, less buttoned-up industries would take up cryptocurrency as well.

In that vein, Monero announces that 45 musicians, plus five other online stores, will be accepting the privacy coin this holiday season and offering discounts to those paying in the cryptocurrency.

The full list covers a wide range of artists, from Weezer to G-Eazy, from Slayer to the B-52s, from Dolly Parton to Morrissey.

Other big name artists include Backstreet Boys, Kaskade, Lana Del Rey, Lumineers, Marilyn Manson, Motley Crue and Sia. A complete list can be found here.

Read More HERE