Former Docker CEO Ben Golub is the new CEO of Storj Labs, a cloud storage startup that uses blockchain to build a decentralized 30-petabyte storage network.
“I love new ventures, but in particular, I look for a combination of a really amazing team solving a really big problem with a unique and compelling solution at a time when solving that is critical to this industry,” Golub said. He will also carry the title of executive chairman.
Storj Labs has raised over $30 million through token sales. The idea behind the company is be an intermediary between people with spare digital storage capacity (it calls them “farmers”) and people looking for cheap but secure storage.
The Storj software encrypts customer data and breaks it up into lots of smaller pieces. Those pieces are stored on the hard drives of its farmers in exchange for Storj tokens. The technology claims it can dramatically reduce the cost of cloud storage, and since the data is encrypted by default, it can also prevent data theft. There is no single-point of failure providing access to that data.
Source: Read Full Article
- Visa announces interoperability platform for CBDCs and stablecoins
- Apple’s Tim Cook Says the Company Has No Plans to Launch a Cryptocurrency
- Blockchain Startup, Deribit Bridges Gap between Crypto-USD Loans
- Latin American Leaders Show Support for Bitcoin
- 6 Banks Sign Up To Introduce Stablecoins On IBM Network