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Bluezelle have a token generation event / ICO to launch a decentralised database service which can be used by developers to host their databases. Bluzelle has been founded by Neeraj Muraka and Pavel Bains. It has already raised $1.5 million in funding.
Bluzelle will create the infrastructure-software for a decentralised database network. Individuals and organisations will then create nodes where decentralised databases will be stored. These Bluzelle “masternode” operators will have to put in a deposit in Bluzelle; they will be paid in Bluzelle coins.
- Data is stored in a decentralised manner; data farmers will host a system similar to masternodes which will provide the infrastructure for the business.
- (I am assuming) there will be significant business continuity elements built into the system.
- Decentralised databases can share data across different entities easily because no one entity will own the database. This reduces the need to trust third parties.
- Given the focus on DBs rather than decentralised file storage, Bluzelle potentially will offer better services regarding data access speed and DB specific APIs that Iits competitors.
- Bluzelle is also working on a KYC identity solution similar to Civic. This is being done in coordination with a group of Asian banks. the blockchain enabled KYC
- Data will be encrypted.
- An MVP for the product already exists.
- Use cases:
- Data storage will cost money on an ongoing basis making it much more expensive that standard databases
- Scaling will bluzelle be able to handle large-scale enterprise solutions
- If Bluzelle’s model works, it is easy to see competitors such as Oracle move quickly into this sector. See how many competitors have jumped on the sector after dropbox.
- Hacking of the database, no system is 100% bulletproof – we have seen problems in “mature” products such as electrum and parity.
- Pumped by some Youtubers so the FOMO is high.
Direct competition to Bluzelle are Amazon AWS, Fluence and EOS. Eventually, others such as dadi.tech, storj and Oracle will offer the same services. Bluzelle can expand it’s business model easily if they implement this technology; Datum and streamr have parallel models.
For more information please visit http://bluzelle.com