Data has been called the “new oil” by The Economist.
This valuable resource will need to be protected. And doing so cost effectively and securely will create new business opportunities.
Memortiy is a blockchain enabled platform that wants to take advantage of that opportunity.
Using a combination of blockchain and smart contracts it plans to provide completely secure and independent data storage, at an affordable price.
Overview of Memority
Memority is a decentralised, cloud storage platform designed to protect valuable data. The platform will be made up of independent repositories across the globe. Users of the platform will provide part of their hard drive storage space for file storage. In order to ensure that data is secure at all times there will be at least 10 copies of each stored file.
How Data Will Be Secured
Data will be encrypted when the file enters the system. This will be done using a private key. This key is only stored with the owen of the data. In order to access the data the key will need to be provided. Data will have its own unique hash identifier. This will make it impossible to either forge or delete files.
Smart Contract Payments
Payments will be conducted using smart contracts on Memority. This will provide security and predictability for participants on the platform. Data owners who provide space on their devices will have the ability to store their own data for free. Miners on the platform will reactive MMR tokens in exchange for ensuring that the system functions.
Memority Token Sale
Memority is offering the utility token EMT during their token sale. EMT is an Ethereum based token that will be used for the purposes of the token sale.
These EMT tokens will be tradeable for MMR tokens on a 1 to 1 basis. MMR tokens are the digital token which will be used on the platform. When an EMT token is exchanged for an MMR token it is destroyed.
There will be 1.5 billion EMT tokens created. 57% of these tokens will be offered during the token sale. Any unsold tokens will be destroyed.
Payment for EMT tokens can be made using Ethereum, Bitcoin, MasterCard, VISA and Bitcoin Cash.
Memority Website: https://memority.io/
Memority Whitepaper: https://memority.io/docs/whitepaper_memority.pdf
Memority Twitter: https://twitter.com/frvrty
Memority Facebook: https://www.facebook.com/mmority/
Memority Bitcointalk ANN: https://bitcointalk.org/index.php?topic=3952669