Decentralized Storage Alliance Launches to Bridge Chasm Between Web2 and Web3

AMD, Seagate, and EY form alliance to accelerate the adoption of decentralized storage by enterprises

Protocol Labs and Filecoin Foundation together with other founding members, today announced the launching of the Decentralized Storage Alliance (the “Alliance”). The Alliance is a first-of-its-kind, member-led industry organization to drive awareness and adoption of decentralized technologies, such as Filecoin, IPFS, and libp2p, and help enterprises in Web2 make the transition to Web3 through education, advocacy, and best practices.

By 2025, the global data market is expected to exceed 200 zettabytes. Enterprise organizations account for 80% of total market demand, and over 90% of them rely on public clouds and other forms of centralized storage to store data, which is costly and not always efficient. Centralized players continue to consolidate the market, limiting pricing and data efficiency. According to a recent IDC survey titled “Why Decentralized Storage Based on Web3 Technology Will Ultimately Replace Many Public Cloud-Based Storage Services,” almost 86% of organizations had a positive view of decentralized storage.*

Decentralized storage networks enable more efficient, robust, secure storage – at a significantly lower cost than traditional data storage – while also giving more businesses the opportunity to participate in the data economy.

“With top-tier leaders across Web2 and Web3 coming together to explore the unrealized potential of decentralized technology, this Alliance has the power to transform the foundation of the internet,” said Stefaan Vervaet, Head of Network Growth, Protocol Labs. “Decentralized storage can provide assurances of data integrity, avoid data lock-in, meet data sovereignty requirements, and offers many significant advantages over traditional Web2 data solutions.”

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The Alliance aims to bring together diverse viewpoints from leading Web2 and Web3 players.

• Advanced Micro Devices (AMD) offers the industry’s broadest portfolio of leadership high-performance and adaptive processor technologies, combining CPUs, GPUs, FPGAs, Adaptive SoCs and deep software expertise to enable leadership computing platforms for cloud, edge and end devices.
• Ernst & Young (EY), the first Big 4 firm to commit to public blockchain, is focused on putting in place the tools, systems, and services that will be needed to help both public and private companies take advantage of blockchain technology to address the ecosystem’s most pressing problems – privacy, security, and regulatory compliance. As a trusted advisor to the world’s largest enterprises, EY’s ability to test and audit transactions in a blockchain environment gives businesses the confidence to transition from simply tracking on a blockchain to transacting across the complete business lifecycle.
• Seagate, a leading provider of data storage technology and solutions. A global technology leader for more than 40 years, the company has shipped over three billion terabytes of data capacity.

The Alliance will create a trusted forum where enterprises and others can come together and collaborate around new technology to accelerate the adoption of decentralized storage technology. This will include:

• Developing standard specifications and reference architectures that address the unique needs of enterprise companies.
• Providing access to education materials, technical resources, and best practices.
• Improving the process of onboarding data to decentralized storage networks and making it easier for new data centers to onboard to the network.
• Enabling the creation of impactful Working Groups that solve specific issues with the transition to decentralized storage technologies and Web3.

Filecoin is the world’s largest decentralized storage network. In 2021, Filecoin represented 1% of the total enterprise HDD capacity shipped, making it one of the fastest-growing storage networks in the world.—big enough to hold a copy of Wikipedia 65,000 times. The 240 PiB of data hosted on the Filecoin network includes 8M active data transactions and enterprise customers such as UC Berkeley, The USC Shoah Foundation, University of Utah, NYC Open Data and many more. More than 1,000 unique clients & users have already uploaded their data to the Filecoin network, with 15% uploading more than 100 TiB.

“The Filecoin network is a decentralized storage system designed to store humanity’s most important information, and a foundational technology for the next generation of the web,“ said Marta Belcher, President and Chair, Filecoin Foundation. “The Decentralized Storage Alliance will help more businesses realize the benefits of decentralized web technology.”

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