First Bitcoin Capital Corp. Enters Decentralized Data Storage Markets Through Siaberry, Inc.
TEL AVIV, ISRAEL / ACCESSWIRE / February 23 2018 / First Bitcoin Capital Corp (OTC PINK: BITCF), a prolific generator of more than 100 unique cryptocurrencies and developer of Blockchain supply chain management platforms, has entered the decentralized data storage markets in partnership with “Bitcoin Hero” Sebuh Honarchian.
Data Cloud Storage Market is projected to witness a compound annual growth rate of 29.73% to reach a total market size of US$92.488 billion by 2022, from US$25.171 billion in 2017.
Siaberry, Inc. CEO Sebuh Honarchian developed an operating system known as “Siaberry OS” that taps into the Sia decentralized storage platform in order to mine POS token (Proof-of-Storage) for the purpose of providing decentralized blockchain storage at a substantial discount from traditional cloud storage sources which currently earns and utilizes Siacoins as collateral.
Sia is the first decentralized storage platform secured by blockchain technology. The Sia Storage Platform leverages underutilized hard drive capacity around the world to create a data storage marketplace that is more reliable and lower cost than traditional cloud storage providers.
Sia encrypts and distributes customer files across a decentralized network. Customers control their private encryption keys and customers own their data. No outside company or third party can access or control customer files, unlike traditional cloud storage providers.
On average, Sia’s decentralized cloud storage costs 90% less than incumbent cloud storage providers. Storing 1TB of files on Sia costs about $2 per month, compared with $23 on Amazon S3.
Sia distributes and stores redundant file segments on nodes across the globe, eliminating any single point of failure and ensuring uptime that rivals traditional cloud storage providers.
Sia’s software is completely open source, with contributions from leading software engineers and a thriving community of developers building innovative applications on the Sia API.
Using the Sia blockchain, Sia creates a decentralized storage marketplace in which hosts compete for customer business, which leads to the lowest possible prices. Storage space renters pay using Siacoin, which can also be mined and traded on cryptocurrency exchanges.
First Bitcoin Capital’s CEO, Greg Rubin stated that, “The Company’s revenue model for Siaberry includes earning Siacoins from providing decentralized storage space as well as allowing our SiaberryOS to mine multiple POS currencies such as our own BIT, with intentions to eventually utilize our own cryptocurrency ‘BIT’ in place of Siacoin which will give us a competitive edge over those currently utilizing Siacoin. We believe that in utilizing SiaBerryOS we currently enjoy the competitive edge over other Sia participants as well as the non-decentralized MaidSafeCoin and Storj.”
About First Bitcoin Capital Corp.
First Bitcoin Capital Corp. (OTC PINK: BITCF) (COIN: BITCF) began developing digital currencies, proprietary Blockchain technologies, and the digital currency exchange www.CoinQX.com (in Beta) in early 2014. We saw this step as a tremendous opportunity to create further shareholder value by leveraging management’s experience in developing and managing complex Blockchain technologies and in developing new types of digital assets. Being the first publicly-traded cryptocurrency and BlockChain-centered Company, we provide our shareholders with diversified exposure to digital cryptocurrencies and BlockChain technologies.
Certain statements contained in this press release may constitute “forward-looking statements.” Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors as may be disclosed in company’s filings. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company’s views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date of the press release. Such forward-looking statements are risks that are detailed in the Company’s filings, which are on file at www.OTCMarkets.com.
SOURCE: First Bitcoin Capital Corp.