Hello, in this lesson, we are going to look at how blockchain can revolutionize data storage. And more specifically, I should put cloud and storage, because there's two general sort of aspects that can benefit the consumer side and the business side will cover both. First of all, let's not consume let's cover the consumer side, the consumer side. And this is essentially stuff like Dropbox. And Google Drive the non business version because they both do business versions as well but like you would get this automatically with your Gmail account. You get some storage for a 15 gigabyte and Dropbox in great free account and get free storage though, you can pay to get more storage if you so want to so get concept, you upload your files to evil Google servers Dropbox is or if you're using Microsoft Cloud Storage or some other service, you upload it to that service.

So that's true a little file. So this is a Word document. And this gets uploaded. So upload did and now this reside. So this is essentially a super server. So the no way would be a super server, but it is just a super server, and it contains a bunch of foil.

So as draw some foils here, will contain loads of foil, there could be multiple seven, most likely there will be, especially for redundancy purposes, but let's just say in this scenario, this won't keep it simple. And our file this one Right here. So we upload it, if we want to retrieve it on load time, you can go on to their website, view the file, you can even edit it, you can download it, you can have it on your phone, all of that really, really cool stuff. benefit of this is, it's not restricted to the one machine and none of your internet you can access it anywhere. And that's a really powerful concept. Because, honestly, I still remember a time where I wasn't using Cloud Storage.

And I remember how annoying he was, you know, carrying USB drives, I still have USB devices, USB storage devices before you know for various other reasons, such as being able to transport big file quickly get a file, but my general files that I'm accessing on a regular basis. I store them on cloud storage and I can access them anywhere. Also, if for example, there on your computer and your computer break for whatever reason, or you lose it. It doesn't matter. We've been on cloud storage, it's on their servers. So as long as that serves, okay, which you generally just trust that these big company servers are going to be fine, then nothing's going to be an issue.

And you can just access it anywhere. It's not restricted to one little machine. So the decentralized nature of it is, obviously we've discussed how decentralized and distributed systems differ to centralized systems. If you want a quick refresher, feel free to check that lesson out, but the actual files, the files will be stored in a decentralized manner. And they can go even one step further and split up the files and store those little packets as search on different nodes all over this crazy ass network. And there'll be they'll make even more fun Cuba, and the whole concept is the more user so more.

So more users will equal more band with and storage space. Because at the end of the day, there's more users, there's more nodes in our decentralized network for the more people that are using it. And this ultimately also leads to more security. So better security fast, just overall fast, there was a file transfer, where it's linked to the bandwidth aspect of it, or whatever aspect it is just generally going to be assumed to be faster. Another thing is that people are worried that that especially these days, when you got the government trying to get back doors into products and services, whether it's social networks or devices such as phones, there might be a case where they want backdoor access into a cloud storage platform. So they say forefather uploaded should go through us the government first we sort of have our you know, basic verification system who can verify all of them.

And if we feel like this may pose some threat to national security or that's what they say, then we'll open it and take a look but we can open anyone that we want, but using a decentralized system, you can remove the policy, the policy ability for government backdoors that's a really cool thing because the end The day you wouldn't expect anybody to be able to access your files that are in your house, whether they're on a computer or whether they're printed document and store them securely. And neither should they be accessible if they're on line. So that's the overall concept that these files will be stored along several different nodes. And if one node goes down, it doesn't matter. Because there have been cases where there's been new cloud storage platforms that have come along, they promised this this and this may be unlimited cloud storage, or maybe it's been really cheap, and they've delivered initially, and then they've had to turn things back and then sometimes the company's just gone out of business.

And they've said, Okay, yeah, X amount of time to download your fault if you're lucky. And that has obviously been a real problem. So imagine if the system like this where that is an issue, that's definitely an attractive prospect. So the business side of it. The bids ness Lloyd on this our application like AWS, which is Amazon's Amazon, Amazon Web Services, Google Cloud, which is essentially a ramped up business version of the consumer. So it has a few other features as well.

And Microsoft, Azure, Microsoft, Azure, you so all of these can be used to store your websites, information and all this will be decentralized. So what you can do, you can have databases on the platforms. And these platforms can be linked up to your website. There may be I've got this crazy new social network. And it's got over 2 billion users, which is roughly what Facebook has. I think it's actually more than that now.

But yeah, that was really cool social network. And I could store the websites, information, the files, the user information, all that stuff. decentralized instead of being on our service. So it's essentially the concept that we was talking about here. But for company and website information, and there's a product already out there, you can check out code store J. So store j, so check this item Christmas video in November 2017.

This company may or may no longer be around, depending on when you're watching it. But check it out store J. It's a paid system. It's a paid system, which is a competitor to AWS and all it is. It's a it's cheaper. Obviously, on their website, they're going to say that and maybe, and obviously, certain packages and certain scenarios, it probably is the know how cheap it is, if you keep scaling up and how good it actually is, but this is a decent floor system that you can use right now, for your business.

And maybe not this for a platform similar to this could be free eventually use in What were you talking about? Yeah, so more users could be a more user more bandwidth scenario. So once the ball gets rolling, you'll have like a snowball effect. And there'll be so many users there that they won't practically have to charge and they could charge for other features, potentially. And this just could be free, so scalable, scalable, with more users. That's the consumer and business side.

There's something else I want to discuss and that's June. Eric AK, what a data storage backed by blockchain, how that could impact the consumer and the business side. So it could be auto, auto linked to smart contracts, smart contracts, something that will execute and automatically based on a certain condition. This is a very, very powerful concept within blockchain based platforms. And the worry could be maybe it could be I'm transferring a file, but I only want it to occur after a certain date. And after a certain date, they can no longer access it.

So a low time period for them to be able to access this for you this more contracts, this could automatically be initiated. So anything with any condition, this could be used. It could also be linked to the payment systems that we have several videos so feel free to check them out, which cover all of the blockchain implementation of payment with cryptocurrency with that access based ownership base. So access would be something like okay if I have the files, and you can access them if you pay for it, and as long as the money's coming in based on so say if they have to pay half a Bitcoin every month to access these files, and I just check, okay, they are paying it, they have this amount of time to access it after that date has passed, have they paid for another month? If not, then he automatically gets cut off.

So this is linking in with the smart contract side, the ownership could be potentially force or like intellectual property. So if I'm selling intellectual property, if payment has occurred, you're automatically get transferred and because There is an audit trail audit trail using public Ledger's, we can see who paid what, who actually owns it. So, there should ultimately ultimately be less disputes around intellectual property. So that's it. This has been a video on data storage and the use cases of blockchain with in it. If you have any questions, feel free to reach out.

And as usual, thank you for watching and I look forward to seeing you in my next lesson.