Thanks to blockchain integration technology is entering a new phase of data security. The blockchain startup, Bluzelle, wants to create a more secure way of storing and managing users information through building decentralized database systems. When I say data storage I am not referring to file storage systems like Filecoin and Storj, but data storage fields & management systems. These systems are needed by DApp developers because they are flexible enough for fast and simple data queries providing them with a full range of services on the decentralized internet. This is a major missing piece in the decentralized internet puzzle and with Bluzelle recent series A funding of $19.5 million, partnership with JD.com!!, recent wave of partnerships with high profile blockchain projects like 0x & Zilliqa, and world-class advisory board like Ethereum’s original core developer & Ripple’s original creator this coin could be trading at $20 in 12 months versus $.30 today.
The Bluzelle project was founded in Canada around July 2014 originally to focus only on payment systems but has now expanded their scope. However, it relocated to Singapore in February 2016 to take advantage of Asia’s growth potential.
Bluzelle is the next generation database protocol for the decentralized internet, making databases more robust and reliable.
The Bluzelle ecosystem will run on a two token economy, BLZ & BNT. There will be two participants in the ecosystem. First are the Producers, which are essentially miners who lend computing power to the Bluzelle network, upholding the entire database of distributed information. The second actor in the Bluzelle ecosystem is the ‘consumer’, which are dApp developers looking to store their products on an immutable, decentralized platform. The consumer utilizes the Bluzelle database network and pays for these services in BLZ and BNT tokens.
The Bluezelle team is lead by Pavel Bains. In addition to being CEO of Bluzelle, he is an investor in Bench Accounting and virtual reality startup VR Chat. Pavel also was the co-founder of Storypanda, a digital book platform that published critically acclaimed titles by the world’s best independent authors and media brands. Pavel was in GM and CFO roles for video game studios, including working at Disney Interactive Studios.
The Bluezelle’s CTO is Neeraj Murarka. Neeraj is a software engineer and computer systems architect with over 20 years expertise in cutting edge technology. He has worked on projects for Google, IBM, Hewlett Packard, Lufthansa, Thales Avionics, and Zynga.
Advisors to the BluZelle team include:
Brian Fox: CTO of Orchid Labs
Alex Leverington: Original core Ethereum Developer
Ryan Fugger: Original creator of Ripple
Michael Egorov: CTO of Nucypher
Drivers of Growth:
I will start with Bluzelle’s recent partnership up with JD.com, China’s largest retailer by revenue and the 3rd largest e-commerce company in the world! If this was announced in a bull market, Bluezelle would have shot up to $10 a coin. Think back to Tron exploding to $.28 just from Alibaba partnership rumors.
Bluzelle’s reliable ‘swarm’ technology stores tiny pieces of data on groups of nodes (swarms) across the globe, eliminating any single point of failure.
Bluzelle has endless scaling abilities because their algorithm stores data in a unique network model that doesn’t depend on data centers, and is able to scale database services in an instant.
Bluzelle has been built for dynamic performance because it can adjust the number and location of nodes sharding data to reduce request time and increase overall performance.
Earlier in the year Bluzelle announced the collaboration with various high profile blockchain projects which included 0x, Zilliqa and Bee Token.
Bluzelle has a first class advisory board that includes Brian Fox, CTO of Orchid Labs, Alex Leverington, one of the original Core Ethereum developers, Prashant Malik, co-creator of Apache Cassandra and Ryan Fugger, the original creator of Ripple. The company’s impressive advisor list demonstrates how significant the blockchain community considers this technology will be.
In August 2017, Bluzelle raised $1.5 million in a Series A funding round that was backed by venture capital firms Global Brain, LUN Partners Capital, and True Global Ventures.
In October 2017, Bluzelle was named in Forrester’s ‘Vendor Landscape: Blockchain Technology Providers in Asia Pacific’ report AND a recipient of technology pioneer by the World Economic Forum.
When Bluzelle’s network is fully functioning, its storage capacity will be about 10,000,000 times greater than current corporate IT storage at .001 the cost per Tb storage of storage centers owned by Microsoft, Google, and Facebook.
The Bluzelle ecosystem will run on a two token ecosystem, BLZ & BNT, similar to NEO & GAS. I believe the BLZ token will act as governance and the BNT will be the gas to power the system.
Bluzelle is able to create an efficient crypto-economic ecosystem where ‘producers’ who have excess computing resources (CPU processing power, memory, permanent storage and network connectivity) are connected with ‘consumers’ looking to access additional database space. Big market need.
The product is still early in its development so there could be potential obstacles ahead but their whitepaper and human talent should be able to work through anything that should arise.
The success of this project will not only be determined by how good Bluzelle’s product is but also whether it will be user friendly.
Since regulation will always trail innovation, the digital currency space can be subject to new regulations in the future.
Bluzelle sees blockchain databases as the ideal way to enhance security and make verification easier across partner organizations. Bluzelle is the best way to enhance security and make verification easier within the sharing token economy, as Bluzelle system users are able to rent individuals’ computer storage space to earn tokens while dApp developers use tokens to have their dApp’s data stored and managed. With Bluzelle’s partnership with JD.com, VC backing, world class advisory board, and scope of their project this coin could be trading at $20 a coin in 12 months.