First Bitcoin Capital Entering Decentralized Storage Markets

First Bitcoin Capital Corp., a generator of more than 100 crypto-currencies and developer of Blockchain supply chain management platforms, has entered the decentralized storage markets in partnership with ‘Bitcoin Hero’ Sebuh Honarchian.

Data cloud storage market is projected to witness a CAGR of 29.73% to reach a total market size of $92.488 billion by 2022, from $25.171 billion in 2017.

Siaberry, Inc. CEO Sebuh Honarchian developed an OS known as Siaberry OS that taps into the Sia decentralized storage platform in order to mine POS token (Proof-of-Storage) for the purpose of providing decentralized blockchain storage at a substantial discount from traditional cloud storage sources which currently earns and utilizes Siacoins as collateral.

Sia is the first decentralized storage platform secured by blockchain technology. The platform leverages underutilized HDD capacity around the world to create a storage marketplace that is more reliable and lower cost than traditional cloud storage providers.

Sia encrypts and distributes customer files across a decentralized network. Customers control their private encryption keys and customers own their data. No outside company or third party can access or control customer files, unlike traditional cloud storage providers.

On average, Sia’s decentralized cloud storage costs 90% less than incumbent cloud storage providers. Storing 1TB of files on Sia costs about $2 per month, compared with $23 on Amazon S3.

Sia distributes and stores redundant file segments on nodes across the globe, eliminating any single point of failure and ensuring uptime that rivals traditional cloud storage providers.

Sia’s software is open source, with contributions from software engineers and a thriving community of developers building applications on the Sia API.

Using the Sia blockchain, Sia creates a decentralized storage marketplace in which hosts compete for customer business, which leads to the lowest possible prices. Storage space renters pay using Siacoin, which can also be mined and traded on crypto-currency exchanges.

First Bitcoin Capital’s CEO Greg Rubin stated: “The company’s revenue model for Siaberry includes earning Siacoins from providing decentralized storage space as well as allowing our SiaberryOS to mine multiple POS currencies such as our own BIT, with intentions to eventually utilize our own cryptocurrency ‘BIT’ in place of Siacoin which will give us a competitive edge over those currently utilizing Siacoin. We believe that in utilizing SiaBerryOS we currently enjoy the competitive edge over other Sia participants as well as the non-decentralized MaidSafeCoin and Storj.“