Photo - Encrypted decentralized data storage on blockchain
29433

Encrypted decentralized data storage on blockchain

Estonia
Market: Blockchain
Stage of the project: Prototype or product is ready

Date of last change: 11.07.2018
Min investment
$  250.000
0
Total required
$ 5.000.000
Rating
equalizer 158 из 1000
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Idea

Memority is the platform for a completely decentralized, ultra-secure storage of valuable data on the blockchain, which ensures the continued availability of several encrypted copies of data on unrelated storage locations around the world.

Current Status

Users feedback collection, Beta version is going to be released in July

Problem or Opportunity

It solves the problem of safe and secure data storage. Memority is the only company that allows users to store data without worrying that someone else might delete, modify or view it. It does this by encrypting data with a private key, and creating 10 file copies with independent monitoring systems that make sure the data is neither modified or lost.

Solution (product or service)

Memority is the only company that allows users to store data without worrying that someone else might delete, modify or view it. It does this by encrypting data with a private key, and creating 10 file copies with independent monitoring systems that make sure the data is neither modified or lost.

Competitors

Storj, Sia, Filecoin

Advantages or differentiators

1. Files’ hash-codes storage in blockchain for data authenticity verification
2. Complete independence from centralized systems
3. Storage safety and files restoration independent from file owners
4. Material rewards for third-party app developers
5. Decentralized process of file copies checking and restoration
6. High payments to hosters for providing space for users’ files storage

Business model

Our aim is to create a truly decentralized
platform that will be operated and managed
only by its users. Therefore we can not be a
constant beneficial party, it would either create
unnecessary centralization or even make
us a distinct owner with administrating privileges.

During the early stages our company will
earn 5% from all payments for data storage,
as our apps will be first ones available
to users. But as these 5% are credited to
any developers whose apps are used for uploading
files, with time most of these will be
third-party developers, not us. And this is
exactly how we want it to be, as this way our
platform will be governed by its users and so truly decentralized.
Our team will also benefit from owning tokens,
mining and being able to use our own
platform.

Money will be spent on

Research and development
Marketing
Administration/operation
Team/advisors rewards
Legal

Team or Management

Product Video

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Idea
Current Status
Market
Problem or Opportunity
Solution (product or service)
Competitors
Advantages or differentiators
Finance
Invested in previous rounds, $
Business model
Money will be spent on
Offer for investor
Team or Management
Mentors & Advisors
Lead investor
Risks
Incubation/Acceleration programs accomplishment
Won the competition and other awards
Invention/Patent
Product Video