At the moment, the problem of reliable and convenient way to store data is very relevant in the world. Besides application in the financial field, blockchain-based encrypted decentralized information storage technology can be used for long-term storage of secure data, with protection from alteration, deletion or unwanted viewing.
First of all, we should assess the state of the data storage market. According to “Cloud Storage Market: Global Forecast until 2022” the cloud storage market size is expected to grow from USD 30.70 billion in 2017 to USD 88.91 billion by 2022. Also the trend of exponential growth is mentioned by Seagate, American data storage company. Therefore the market is very promising both for the growth of existing products, and for the emergence of new ones.
Another positive tendency is attitude of users, enterprises and SMBs (small & middle business) for data safety. According to Smallbiztrands 78 % of small businesses will backup their data on the cloud by 2020. Moreover, even in 2013 90% of companies and other organizations are at least discussing cloud computing (based on Symantec).
The effectiveness and versatility of the Memority platform is ensured by the Law of Metcalf, according to which the utility of the network is proportional to the square of the number of users in this network. Since the number of hosters in our network has a huge growth potential, as well as the number of users (prerequisites for this are indicated below), then the efficiency of the system has a tendency to grow. To sum up all this information, statistics speaks for itself: the market is big enough and advantageous for our Memority platform.
