Filecoin Foundation, Protocol Labs, and a number of other members launched a Decentralized Storage Alliance on Monday. The Alliance is the first time organizations in the decentralized industry would come together to promote the adoption and awareness of decentralized technology.
Fusing Web2 and Web3
They also want to help businesses in the web2 space have a smooth transition into web3. They plan on exploring advocacy, and education, and using best practices to achieve this aim.
The world’s data market is expected to have crossed 200 zettabytes by 2025. Enterprises use up about 80% of the overall market demand. Whereas, more than 90% of that number still depend on the public cloud and centralized systems to store their data, which turn out to be expensive and inefficient.
Centralized players keep consolidating their hold on the market. They, therefore, limit data efficiency and pricing. The International Data Corporation recently carried out a survey where it discovered that nearly 86% of enterprises have a positive position on decentralized storage.
Decentralized storage would give a more robust, secure, and efficient storage. It would also cost considerably less than the traditional storage system. While at that, it enables more enterprises to take part in the data economic space.
Protocol Labs’ Head of Network Growth, Stefan Vervaet, said the new Alliance could potentially transform the internet’s foundation. The reason is that leaders in the we2 and web3 spaces are working together to tap further into the power of the decentralized technology space.
He said further that decentralized storage will provide better assurance of data authenticity.
Promises From the Alliance
The new Alliance seeks to unite the different points of view of web2 and web3 innovators. Advanced Micro Devices, for example, brings one of the industry’s largest leadership portfolios of adaptive and efficient processors that combine GPUs, and CPUs, among others.
Ernst & Young, is one of the “big fours” that first committed to the public blockchain. It is focused on bringing systems, services, and tools to help private and public firms cease the advantages of blockchain tech. They would be able to address the most pressing needs of the ecosystem – security, privacy, and regulations.
Seagate is a leader in providing storage solutions. The company has over 40 years shipped more than 3 billion terabytes in data storage.
The Alliance will go ahead to create a trusted forum where businesses and their likes could come to collaborate with one another. They would be able to develop new technologies to drive the global adoption of decentralized storage.
This movement will include coming up with the standard specifications and reference structures that would meet businesses’ unique needs. They would also make educational and technical materials available.
Furthermore, they would improve the means of data onboarding to storage networks. They would also make it easy for any new data location to get onboarded to the network.