Start-Up Market.space in Estonia Builds Decentralized Marketplace

Market.space, a specialist in storage solutions, has announced the initiative to build a decentralized marketplace for cloud storage providers based on the blockchain technology.

According to Gartner, the global public cloud services market is expected to reach $411 billion total revenue by 2020, with the highest revenue growth coming from infrastructure-as-a-service.

“Centralized and decentralized cloud services should coexist to serve different needs. The latter will offer prodigious scalability, together with more rigorous security measures to address cyber threats and social engineering risks. Market.space will adopt blockchain to provide unprecedented fault tolerance, ensure 24/7 data availability, offer anonymity protection and visionary copyright management features,” says Alexander Rakhmanov, Market.space founder and CEO.

Market.space aims to become a solution for professionals and consumers, governed in a decentralized, transparent and accountable manner. Within the marketplace, cloud providers will be able to list and sell their services directly to customers. In turn, consumers will be offered enterprise-grade support and flexible pricing options. Using blockchain, smart contracts and risk management measures such as insurance deposits, Market.space will make cloud services more efficient, trim costs and ensure seamless customer experience on all fronts.

“To date, online storage and file management start-ups have raised up to $500 million, garnered strong industry support and audience buzz. These, we believe, are key indicators of an ongoing disruption in the field,” added Rakhmanov.

To raise funds for the venture, Market.space will conduct an Initial Coin Offering. The fundraiser will commence on April 16, 2018 and end on May 27, 2018.

By design, the Market.space will be a zero knowledge system deprived of the ability to read the information and influence pricing.