Jeffhardy: Data Bloc - Blockchain Based Data Storage System

About the Project

The platform, called DataBloc , is designed to protect information. The idea is to unite customers and suppliers in a single system with a high level of security using blockchain technology.

DataBloc is a StoneFusion plug-in. As for security, smart contracts are meant for this, which will be responsible for transferring data from one user to another.

Specifics of the Project

In addition to smart contracts, high security codes will provide enhanced information hashing codes. This principle allows us to guarantee a more reliable transmission and seamless data storage using an additional chain of blocks. The execution of all processes is controlled by a coding algorithm called Reed-Solomon Erasure.

The advantage of using StoneFusion is to combine the platform with any electronic wallet or device where you can store data. The system also interacts with cloud storage or other means of backing up data.

Solution Ways of Databloc Solution

DataBloc network will be accessible through a web platform where qualified service providers list their data services. The service providers will range from data centers to enterprises with in-house data service facilities. The service providers will join the network to improve their product offering, grow their customer base, and decrease their customer acquisition costs. Enterprises will join the network to improve security and earn incremental passive revenue on their dormant data storage capacity.

Enterprise and retail customers purchase these data services on a subscriptionbased model. The web platform will allow customers to filter service providers by criteria including, but not limited to, cost, capacity, services, redundancy, and location. The web platform will then generate a list of qualified service providers. The customer will review the list, choose a service provider, and checkout.

DataBloc Software

DataBloc software, also known as StoneFusion, will be a 9th generation blockchain solution developed by StoneFly, a well established data services company based in Silicon Valley. StoneFly has invested approximately 40 million USD into this product and has more than 16 full-time software engineers working on development. The software supports various data services and storage types, and offers enterprise-quality data optimization, availability, accessibility, encryption, and security. DataBloc is transitioning StoneFusion to a permissioned blockchain based on Ethereum, which enables the use of a token that facilitates an efficient sharing economy. In contrast to the fully decentralized setting, users will know and trust the nodes they choose to purchase data services from.

As a utility token, Stone (ticker: STONE) will be a useful way to interact with the DataBloc platform. The STONE token can be defined to represent future access to a company’s product or service. The defining characteristic of STONE tokens is that they are not designed as investments. There is no guarantee or promise of a return on investment. The tokens represent a unit of account for the network. The bigger the network grows, the more utility in the token.

Royalty Bloc

Royalty Bloc (ticker: RBC) will earn a 10% royalty on the revenue generated by the DataBloc platform in perpetuity. Through smart contracts, RBC owners will earn STONE in real-time by receiving 10% of every payment. They will have the choice to either sell their STONE, use their STONE to buy data services on the web platform, or hold their STONE in a wallet. RBC should increase in value alongside the total revenue generated by the DataBloc platform. The RBC valuation should be determined by the projected future value of cash flows generated from the 10% share of platform revenue. By offering robust data solutions and a wide variety of data services to enterprises as well as the broader public, the RBC revenue stream is exposed to a diversified set of clients, all of whom have different risk tolerances throughout a market cycle. RBC will be sold as a security, not a utility, and will not be advertised nor sold to the public.

ICO Details

Like many modern projects, the StoneFusion platform has its own token. It is called STONE. His task is to interact directly with DataBloc and other companies. STONE, backed by a smart contract, allows you to make transactions safely and securely. Also, when using the DataBloc system, the user has the opportunity to receive up to 10% of the profits due to the Bloc license fee (RBC).

In total, 200 million STONE tokens are planned for release. The cost of one coin is 0.5 USD. In the sales process will be a system of discounts. The maximum discount for 1 coin will be 40%. The maximum amount required for the implementation of the product, according to the developers should be 100 million US dollars.