Bluzelle ICO Review: Decentralized Database Hosting.

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  • staff are not financial advisors.
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  • This interview is not a suggestion or an endorsement of this ICO or any other ICO or any cryptocurrency.
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  • staff are long Bluzelle.
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Bluezelle have a token generation event / ICO to launch a decentralised database service which can be used by developers to host their databases. Bluzelle has been founded by Neeraj Muraka and Pavel Bains. It has already raised $1.5 million in funding.

Bluzelle will create the infrastructure-software for a decentralised database network. Individuals and organisations will then create nodes where decentralised databases will be stored. These Bluzelle “masternode” operators will have to put in a deposit in Bluzelle; they will be paid in Bluzelle coins.

The advantages:

  • Data is stored in a decentralised manner; data farmers will host a system similar to masternodes which will provide the infrastructure for the business.
  • (I am assuming) there will be significant business continuity elements built into the system.
  • Decentralised¬†databases can share data across different entities easily because no one entity will own the database. This reduces the need to trust third parties.
  • Given the focus on DBs rather than decentralised file storage, Bluzelle potentially will offer better services regarding data access speed and DB specific APIs that Iits competitors.
  • Bluzelle is also working on a KYC identity solution similar to Civic. This is being done in coordination with a group of Asian banks. the blockchain enabled KYC
  • Data will be encrypted.
  • An MVP for the product already exists.
  • Use cases:

The Concerns:

  • Data storage will cost money on an ongoing basis making it much more expensive that standard databases
  • Scaling will bluzelle be able to handle large-scale enterprise solutions
  • If Bluzelle’s model works, it is easy to see competitors such as Oracle move quickly into this sector. See how many competitors have jumped on the sector after dropbox.
  • Hacking of the database, no system is 100% bulletproof – we have seen problems in “mature” products such as electrum and parity.
  • Pumped by some Youtubers so the FOMO is high.

Concluding Thoughts:

Direct competition to Bluzelle are Amazon AWS, Fluence and¬†EOS. Eventually, others such as, storj and Oracle will offer the same services. Bluzelle can expand it’s business model easily if they implement this technology; Datum and streamr have parallel models.

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