Applications and Use Cases

Decentralized Storage Alliance Eases Web2 to Web3 Transition

November 09, 2022

Company data was traditionally stored on-premises. But, as with almost everything else in the world today, cloud has replaced on-premises as the de facto alternative. The downside though is that public clouds and other forms of centralized storage are costly and sometimes inefficient, which started the push away from centralized storage networks to decentralized storage networks.

Why the push away? Simply because decentralized storage networks enable more efficient, secure storage at a lower cost. Decentralized storage networks also give businesses the opportunity to participate in the data economy.

“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,” said Stefaan Vervaet, head of network growth, Protocol Labs.

To drive awareness and adoption of decentralized technologies and help enterprises in Web2 transition to Web3, Protocol Labs and Filecoin Foundation, with other founding members, launched the Decentralized Storage Alliance.

The Alliance is set to bring together diverse viewpoints from leading Web2 and Web3 players. AMD’s expertise in high-performance and adaptive processor technologies, for example, enable leadership computing platforms for cloud, edge and end devices.

Ernst & Young’s ability to test and audit transactions in a blockchain environment, as another example, gives businesses the confidence to transition from tracking on a blockchain to transacting across the complete business lifecycle.

Taking that expertise, a trusted forum is created. Through the trusted forum, standard specifications and reference architectures that address the unique needs of enterprise companies are developed. Access is easier to education materials and resources as well as best practices, and onboarding data to decentralized storage networks is improved. Additionally, Working Groups that solve specific issues with the transition to decentralized storage technologies and Web3 are created.

When combined, they allow enterprises and others to come together and collaborate around new technology to accelerate the adoption of decentralized storage technology.

“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 Vervaet.

Filecoin Foundation President Marta Belcher is in agreement with Vervaet saying decentralized storage is a “foundational technology for the next generation of the web,” and the Alliance will assist businesses realize decentralized web technology benefits.

Edited by Erik Linask

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