storX Storage DePIN Powered by XDC by Murphy John

Transcript

Thank you for being here. Uh my name is Murphy John and I work for StoX. Uh we are basically a decentralized cloud storage platform. Uh we are built on top of XDC and we help users to provide a very secure privacy focused storage. So uh I know everybody's very busy and thank you for being here and I'll just run through the presentation really quick. uh hope to have attention. So this is the volume of data that has been generated for the past years. If you see uh with the advent we have so much of data that's being

generated worldwide. So if you see uh the advent of data that has been generated over the period of the time for the last past 3 years is really really very high. So right from 2020 to 2025 the rate at which the data is being generated is grown phenomenally. So we can see the curve has gone really very high. This is because most of the smart devices that is being used and also because the onset of code. So after co people really started working from homes they're creating a lot of data and because of the mobile Instagram and all. So the amount of data that is generated has really gone very high. Now this is the cloud storage

market. If you want to have a look uh the rate at which the data is the market is growing is phenomenally high. And if you see the number of service providers are all but the number of service providers are really very less. So if you see the top three service providers AWS, Azure and Google they together control more than 70% of the market. So these guys actually are present in everybody's life in one way or the other. It's it if you're if you're dealing with data in any format one way or the other your data ends up in any of these three service providers. And what happens because of this three service providers ruining the entire market they have a very high chance of uh almost

like a monopolistic behavior. They can they can dictate terms to the users. they can put in uh terms which are not really user friendly and because of this what happens is users are generally at loss because when when the market is dictated by one or two or three major service providers it's really a very big loss for the customers. So what happens when when you have some service providers like this controlling the market it there are certain risks which are there when when when we have certain service providers because what happens is all these service providers are majorly controlling the market that means you have we major chunk of data which ends up into this service

providers and if there is any problem to these service providers there's a large catastrophe that happens you can lose data you can you can have a lot of problems You have something like a crowd strike attack which happened something like Amazon site if it goes down it it affects everybody's life like even uh they can create havoc in everybody's life because of such kind of failures. So why does this happen? So basically what happens is because there are only single service providers or very few service providers. We have a single point of failures. All the data is lying in a single location and if there is some problem with this data or the service providers the whole region goes down. So if you you have heard cases where there were banks which has gone

down, the airlines which have gone down, there's the airport functioning which is which is being disturbed because of one of the zones going down and because what happens is if we are storing all the data in one specific service providers, a few service providers, they can really run snooping, they can run censorship data, they can run a lot of analysis on your data and because of this geopolitical situation which has been happening all way, you always have a threat of your data. which is really very uh very high risk of being uh analyzed by governments or third parties uh creating problem for you or it can create problems for anyone and there's cost which keeps on increasing. So if you if you look at the service providers uh of the ISPs AWS, Google cloud anybody

they they lock you into such contracts where the rates keep on going very high. So if you start with an X amount of money by the end of two years you'll find that your rates have gone really very high. We have cases and instances where the rates have almost double from where you've started with this kind of subscription. As I said earlier because you're storing with so few service providers there is there is a high risk that your data is being surveillance by either government or third parties and this data is being sold this data is being analyzed. you have the risk of this data being going to third parties and this majorly happens because there are only three or four service providers which are actually controlling the data.

So it's it's like cloud act which is there in US. You have patriotic act in US which can really which which can force the ISP to snoop into your data and give the results to the government. This is something that is really very not feasible or it is not really very good for the uh customers at the end. Of course there are issues like virus infection which happens. So if your data is infected at one single point of data you have the uh you can lose the whole data and you you'll never get access to such kind of data. So what should we do? So we should look at a service we should look at the storage solution which can offer you a very high level of security against single point of failure.

Basically what happens is the service providers and service providers still follow the same old pattern of storing your data in one single location. Whenever you're putting a data by default you feel that the service the cloud provider is going to provide you security is going to provide you redundancy is going to provide you resiliency but what happens is actually you're just storing your data in a single location as a single point. So any problem happens to that location you will lose your entire data. There's no backup and the moment you start going into getting some backup or you get some kind of resiliency the cost increases so much that you will it will not be feasible for you or normal providers to just keep on providing the service. The second one is the data should have very

high level of privacy. Basically as I said because there are only few service provider this becomes a honeypot of information for either governments hackers or third party third party companies who just run lot of analysis sell this data to third parties and we already know the cases like Cambridge that happens few years back where users data was taken up and sold and even now even now if you are in US or if you are in US company storage company which is having a facility of hosting data outside still the US government can get the get the data from you there specific acts which are mentioned that if you if the US government wants the data they'll have

to provide the data you cannot say no for that also we should we are looking at a solution which is cost effective which means that your you should not be locked into some long-term contracts which which you end up paying a huge amount of money at the end of the and you should have easy access to come out of the data but these these guys lock in such kind have such kind of contract then even if you want to break in the contracts you're paying paying a huge liability and it should be easy to use of course because because what happens is every time you you end up end up bringing a new technology like the web3 technology which was there it was so difficult to use that people don't want to use it because they have something like wallet connection then they need to do some

kind of third party access it becomes really very difficult and you should also have a solution which is scalable that means if your data grows you you should be able to scale up your hosting solution as well. So what exactly is storex? Basically storex uh is a decentralized cloud storage platform. So what we do is we have a group of nodes. It's a communitydriven project basically of uh node operators. We have node operators which are spread worldwide. They come in and they provide storage to us and then we resell the services. So we have we are basically Airbnb of hosting providers or um uh like Uber for hosting providers. Data is the new oil. Every

day we save gigabytes of data, photos, spreadsheets, videos, files you want to share, and files you don't want to share. But have you ever thought about whether your data was safe? Your data is safe with us. It's encrypted and only you can access it. As long as there are no regulatory moves, only until the next hacker finds a vulnerability in the system. The point is, your data was never safe. Should you stick with storage solutions that don't take your data seriously or switch to breakthrough solutions built on cuttingedge technology that is unhackable?

Introducing StoreX, the world's leading blockchain powered distributed cloud storage system for your personal data. Any data you upload on StoreX doesn't sit in one central location like traditional cloud storage. Heck, it doesn't even exist as a single file. Every piece of data you upload is first encrypted with a private key known only to you. Then it's broken into thousands of unrecognizable fragments and multiple copies of each fragment are generated to ensure high redundancy. And finally, these fragments and their copies are stored across hundreds of independent storage nodes spread across the world.

We or they can't ever peek into your data. To access your data, all you have to do is log into the platform. Your private key gets activated and your data is retrieved and assembled for easy access. Storeex is as simple as cloud storage you're used to, but only miles ahead when it comes to security, privacy, and data ownership. We might have eliminated any room for your data to be stolen, censored, or shared with third parties. Oops. Sorry, cyber criminals and big tech. Ready to take back control of your data? Try Store today.

So having this decentralized kind of mechanism we are able to offer you some very high level of security, privacy and resiliency. So because of the whole architecture of encrypting the data. So what we do is at users device itself we lock the file we encrypt it with user's own private key which remains unique to every user. So that means that only the user's private key can open the file or see what is the content we're doing. even we as a service provider cannot see what is the content to it. Second is because uh as soon as the as soon as the encrypted file is store comes to the storage platform we break it up into small chunks of data and then we replicate those chunks and then we distribute it all over to the globe. So we have around 2,500 active community

partners who are basically node operators who are spread worldwide. So what they do is they take this chunk of data and they store it in their location because of what happens is every location storage location is holding multiple chunks from multiple document rather than holding a single data which can be seen either by the node operators or by storage as a platform. So we're able to offer you a very high level of resiliency, privacy, encryption and because this is decentralized it's actually nobody can snoop into your data. So that's that's the primary guarantee that we offer you. Once you are on a platform, nobody can even log into your system or see the system. And in case if there is any failure any of the node nodes or storage node

operators, any of the location, the system actually knows where exactly the same node or the same content is residing in some other location. So that's because we do replication after the fragmentation is done. And we are 100% open source project. people can just log in and see what's the content. We have we have the source open at GitHub. We are very cost efficient. So we don't log any of the users with any of the contracts or long-term contracts or we don't have any scalable billing system. So actually you at the first day itself you know what is the kind of amount that's going to be charged on your invoice. We are very fast and we're very environment friendly. We very environment friendly in the sense we are built on top of HTC. That's that's one

of the very low carbon emission and one of the lowest transaction fees. So we are able to offer a very high level of environment friendly solution. This is uh the dashboard of a user. It's very simple. You just have to login. We take care of the entire Symphfony from background. The creation of private key, the locking of private key, everything is online. Everything is background and user just has to login with the username and the password uh with the social media actually. So we don't even store the username and the password. It's it's it's user can login with their own social media account. We have one of the highest integrations of uh application. So currently we have around 55 applications which we have integrated. That means we work in Symphfony with all this

softwares where you can take background you can take backups of your data automatically. We're also coming up with very three special integration Google Workspace, Kubernetes and WordPress. Basically uh we we can automate your Google workspace uh backups. You can automate your Google photos, Google drives, Google docs and everything gets automatically stored in storage and get secured. You don't have to worry about it. We we have active collaboration with Kubernetes. You can also back up your Kubernetes workloads on us. With WordPress also we have the same thing. This is one of the interesting case studies that we had. uh this is one of the biggest uh uh SAS service

provider for IoT based devices for them. We were able to replace that AWS storage completely. So rather than going with any of the centralized storage providers they were not very comfortable sharing certain critical data. So they have removed the centralized storage providers something like AWS and mapped the entire storage to us. because of them deploying our solution what we were able to offer them they we were able to offer them a very high level of resiliency the data actually has uh the desired consumption has gone up and the rates they were almost like 50% cheaper than the any centralized service providers and because of the because of this being cheaper they were able to offer very uh services to the end customer at cheaper rate so this is uh basically a live project which is

working on this is what our ecosystem is we have 117,000 users who are actively using our platform. We have around 2,500 node operators which are spread worldwide. We have 5 paby of storage which is already deployed. We have partnership with so many companies uh moi itcc my gimma bing x bitru and all the places. These are some of the places where the media has ranked us. And this is uh the report of last year deepen landscape by IoT. We were rated at one of the best uh storage platform providers by them. We also have industry association like deepen hub, deepen union, alchemy

and magic square. This is what our token is going on at trade. This was 2 days back. And that's it. So this is uh what it's all about. You can you can sign up to store your data securely or you can also set up your master node and start earning it. That's it. [Applause]