A decentralized storage and distribution network called Filecoin wants to compete with the $46 billion cloud storage market. 1 To create a reliable and effective market for data storage needs, Filecoin links users and data storage providers from all around the world. As video streaming grows more widespread, digital resolutions rise, and more connected devices go online, this sector is expanding swiftly.

1. Sneha Korad Rachita Rake, Vineet Kumar, “Cloud Storage Market Statistics: 2027,” ALLIED MARKET RESEARCH (April 2020), https://www.alliedmarketresearch.com/cloud-storage-market