TL;DR
- The cloud market is evolving but organizations lack choice. Wasted spending is already a $100bn+ global issue and will get worse as data expands exponentially.
- At 180Protocol we deliver privacy for independent cloud providers. Together with others in the Filecoin ecosystem we are building a secure budget cloud alternative at scale.
- 180Protocol software will enable secure and cost effective cloud storage, compute, and coordination. With our software, a typical data-rich organization could securely save millions on their annual cloud bills!
Our encryption tool for IPFS/Filecoin will soon be launched open-source so watch this space!
Please let us know at management@180Protocol.com if you are a sophisticated or professional investor who wants to learn about upcoming investment opportunities or if your organization wants to save money on existing or future cloud bills.
Why do we think independent operators are an integral part of the future cloud?
Cloud services are expensive, and reducing this cost is the single biggest cloud priority for organizations. The need for effective cloud deployment is a growing issue as data creation accelerates exponentially. However, organizations lack options due to concerns about privacy and security. The result? Wasted spending on cloud services is already a $100bn+ global issue.
Cloud markets are dominated by a small number of actors. As we look forward to our future, and the next generation of the internet in particular, it is difficult not to be a little concerned. In markets where there are a finite number of infrastructure providers, independence is lost and costs often remain high.
We all deserve choice; the only way to ensure we all benefit from a heterogeneous future is to ensure fairness. The fabric of the internet is built using cloud services, and Filecoin, for instance, coordinates independent cloud providers and ensures prices for these services are market derived. Marketplaces for cloud services is not an obvious game changer for most, but at 180Protocol we think it is profound. How else can we ensure fairness?
What role do 180Protocol play in the future of the cloud?
Currently, 98% of data created is not kept, and so cannot be further utilized to add value. Beyond issues around costs, organizations cite that the biggest single barrier is concerns about privacy and security. The paradox is that the most valuable data is also the most sensitive. At 180Protocol, we want to enable choice for organizations by introducing privacy and security to independent cloud operators.
For our latest Filecoin open grant, 180Protocol are building open source technology to encrypt and store sensitive data securely. 180Protocol technology users can also aggregate and compute on data sets privately. Any outputs from the computations can be encrypted and stored on Filecoin simply and easily as well.
180Protocol technology also enables sensitive data sharing in private networks via Data Flows – asynchronous workflows that audit actions and events on a distributed ledger. 180Protocol Data Unions utilize confidential computing to perform aggregations and computations on sensitive data sets without exposing the data to any single actor.
Finally, we have built a rewards engine that attributes value to contributed datasets in data aggregations. By ensuring data owners and contributors are fairly rewarded in data collaborations we are doing our bit to help build the next generation of the internet.
How can you use 180Protocol to save money on your cloud costs?
Firstly, we can do it all for you. If you want to store data cheaply, securely and privately then get in touch at management@180protocol.com
However, our technology is also available open-source here. Please refer to our Wiki for more in depth technical guides.
Next steps in our development is to build all this functionality natively on Filecoin so that no other blockchain technology is required. We will be launching our open-source encryption tool for Filecoin/IPFS soon. So watch this space!
Currently, you will need to deploy a Corda node to use our other technology like data unions, here is a link that explains how to do that. Corda is a permissioned DLT that is designed to enable collaborations. Corda is a great technology for audit, governance and workflows in a private network of trusted actors. We can also help organizations onboard and run their Corda infrastructure on the cloud.
