Informational Report on

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This is a live document and will be updated based on most recent information.

The following report is NOT intended as advice to purchase software. This report is presented for purely informational purposes. ALWAYS conduct your own research before buying digital tokens associated with a software project during a crowdsale.

TL;DR is one of the first platforms with front end applications for decentralized, secure storage of data for end users. See website here: The platform is already up and running for the storage of data, the back end of decentralized mining will begin in the next few weeks. The crowdsale begins on July 18th at 8:00 a.m. eastern time and ends August 18th with a total of 500 Million Storjcoin X (SJCX) to be sold, the details are covered in the presentation link below and here: There is a 10% discount for the first 1,800 BTC collected and the discount progressively declines based on the volume of BTC collected. The team is using both the Counterparty platform to issue the tokens and has plans to use the Master Protocol to issue tokens in the future. The back end is using a fork of data coin and plans to also support the Safe Network upon its launch.

View presentation and Q&A at the following link:


Storj is based on the Bitcoin blockchain technology and peer-to-peer protocols to provide the most secure, private and efficient cloud storage. Imagine a version of drop box that doesn’t go to Dropbox’s servers but rather is spread among a large number of decentralized nodes hosted by those running Drive Miner software.

Problem / Solution / Value Proposition

The Problem / Pain Points:

Costly services such as Dropbox, Box and Google Drive and their centralized solutions which have proven to be ineffective at security and privacy of users.

The Solution Storj is proposing is:

A user client side encrypted service which stores everything in a decentralized manner.

The Value Proposition:

Lower cost and better privacy than the centralized alternatives.

Crowdsale On July 18th to August 18th

Details found at:

“You will receive an amount of Storjcoin X dependent on the phase of the crowdsale. Here’s the exchange rate of Storjcoin X per Bitcoin during the crowdsale.”

0 — 1,800 BTC

38,500 SJCX per Bitcoin.

Participants in this round receive a 10% increase over standard rates.

1,800 — 4,800 BTC

36,750 SJCX per Bitcoin.

Participants in this round receive a 5% increase over standard rates.

4,800 — 9,800 BTC

32,480 SJCX per Bitcoin.

Participants in this round receive SJCX at the standard rate.


The team is growing quickly with about 18 full time developers working on the project. The skills on the team include both backend and frontend developers. Shawn Wilkinson has been a contributor to the Bitcoin Core software and has contributed to a variety of different cryptocurrency projects including Peer Coin and others.

Shawn Wilkinson has proven a good leader and developer the past 6 months working on this project and has shown an ability to spread his vision among others.


The economics are based on demand for the token in the use of the storj application. In order to store data a user must use SJCX. Thus the economics of the coin are directly connected to the scale at which the service becomes popular and attracts use.

Technical Description

The technical write ups can be found at:

In short the project is primarily a front end for the storage of data for end users. The project is backend agnostic and the Storj platform will use a variety of ways to store the data including, its own Drive Miner software and other affordable options including the Safe Network upon its launch.

The location of data is stored in data coin blockchain as it requires larger amounts of storage than are available on the Bitcoin Blockchain. The location of the token data is stored on the Bitcoin Blockchain using the Counter Party standard and in the future also the Master Protocol standard.


1. There are likely to be many competitors in this space following its launch. Already Bit Cloud and others have announced similar projects (though they not yet executed on developing such applications).

2. Large incumbents including Dropbox, Box, Google Drive, and many others already have a strong network effect in the space of online data storage for users (though more costly).

3. If large existing players decide to adopt the distributed model being pioneered by Storj then they will have a large advantage in resources (though the innovators dilemma may delay the time in which this happens.)

Disclosures PLEASE READ

1. This is Not Stock or Equity

Participation in the Storj / SJCX crowdsale will not provide you with a “security” or “equity” stake in this project. The digital token is only useful for accessing the Storj software after its development is complete.

2. No Refunds

No refunds of BTC will be made to purchasers of SJCX, should they change their mind at a later time, as the creation of the SJCX, tokens is locked in. Of course, once the purchaser receives his or her tokens after the crowdsale, they are free to send or sell them to anyone of their choice.

3. If You Send BTC From Coinbase You Can’t Claim Your Coins

If you send the Storj Crowdsale address BTC from a wallet that you do not control the private key for (example Coinbase), then you will not be able to claim the API Coins (SJCX) you purchased and the Storj will be unable to generate new ones for you.

4. Low Liquidity / Ability to Sell These Digital Tokens Will Be Limited

If you purchasing token XYZ in order to hold it as “a store of wealth or value” please understand that this project is in its early days of development and that the market for these tokens will be very shallow and thus make it will be harder to buy and sell these tokens without effecting the price on the market.

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