Web3 tech cloud company announces availability of its cloud storage solution

Impossible Cloud has announced the general availability of its enterprise-grade, native cloud storage solution. 

The solution offers all the capabilities of traditional cloud storage along with the benefits of decentralized web3 technology, the company said. These benefits include increased speed, affordability, and security. This cloud storage solution is 50 per cent to 75 per cent cheaper than traditional cloud providers, Impossible Cloud’s announcement reveals. 

Impossible Cloud is a German-based cloud platform that offers multi-service cloud solutions and helps companies store their data.

“Impossible Cloud’s cloud platform is based on web3 technology, which enables decentralized infrastructure,” said Dr. Christian Kaul, chief operating officer and co-founder of Impossible Cloud. “This means it taps into underutilized capacity from a global network of enterprise-grade data centres to provide cloud services with better efficiency and performance as well as improved security and resilience, because there is no single point of failure.”

According to Kaul, the company looked at available capacity that data centres have. 

“I think it was an excess of 20 exabytes of capacity. That’s a lot. We were like ‘where did all of this capacity come from?’ …We reached out to hundreds of data centres exploring what they’re doing, and a lot of these providers are really happy to tap into a network. A lot of them have spare capacity,” he said. 

Kaul added that Impossible Cloud is all about tapping into existing infrastructure and existing underutilized hardware infrastructure to create a cloud solution that saves costs. 

In addition, according to the company, they’re the first decentralized, enterprise-grade cloud platform offering a comprehensive suite of services backed by a fiat-based payment system and a business model catering to B2B customers.

The company’s services do not require cryptocurrency or tokens, but still allow business customers to access the benefits of web3 technologies without the need to transact with tokens or cryptocurrency.

“So what we are doing is we are going to the business world with the features they want, with the certifications they want, and with the payment they are used to. Fiat payment is the most normal thing in the world. That’s exactly how you pay for any service that you have on the internet,” Kaul said. 

The solution is designed especially for enterprises and SMBs that use centralized public cloud providers, like AWS S3, as well as on-premises private clouds. According to the company, Impossible Cloud Storage is ideal for organizations that require performant and secure storage for big data, backups and archives. 

Impossible Cloud’s Object Storage has been developed for quick deployment with a single line of code, and offers 24/7 engineering support. To ensure user data and the data in the hosting data centre is kept secure and separate, Kaul said everything the company does is kept on dedicated hard drives.

“Everything that we do is on dedicated hard drives…so there’s no mixing. And what we also do is we have extra layers of security in terms of encryption, so we encrypt and transport at rest and so on, so forth.”

In early March of this year, Impossible Cloud announced a €7 million seed round co-led by HV Capital, and 1kx, and joined by Protocol Labs and TS Ventures to accelerate the launch of its platform.

Following the general availability of its cloud storage product, the company is focusing on further building its storage services and rolling out addition cloud solutions.

“I think the cloud industry is really ready for disruption…five years from now, the internet’s not going to look the same as it does now. And our solution, and similar ones like ours will be a big part of what the internet of the future looks like,” Kaul said. 

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Jim Love, Chief Content Officer, IT World Canada

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Samira Balsara
Samira Balsara
Samira is a writer for IT World Canada. She is currently pursuing a journalism degree at Toronto Metropolitan University (formally known as Ryerson) and hopes to become a news anchor or write journalistic profiles. You can email her at [email protected]

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