Bluzelle Is Building The New Data Economy With The Help Of Blockchain
The digital age has made sharing a common concept. It is nothing new to find this share economy concept being utilized by various platforms for more customer interaction and better services. Houses let out on Airbnb, personal cars being used by Uber drivers and even selling second-hand stuff online all come under this concept.
This has given rise to the idea for this blockchain-based startup called Bluzelle. The idea is to share the extra space on your computer that they won’t be utilizing and get paid for it.
Building a new data economy is what Bluzelle’s goal is. The current centralized structures are making the wrong use of data as there have been instances of data breaching, data clogging, and even data manipulation. The issues have a solution at Bluzelle as it is building a decentralized database that helps store data in a most secure way possible.
This secure storage of data is possible because they split data into multiple pieces and store them on networks of nodes spread around the world.
Though it is a unique concept, the company is still not free from competitors. Oracle, IBM, AWS to name a few but Bluezelle stands out as it is a decentralized platform, unlike the competitors. Their database protocol is similar to that of Bitcoin.
Bluzelle made a name for itself as it did a very successful ICO in January. This also helped them in knowing that the people have liked their product and the technology thus accepting their team. A total of 35 applications and five other blockchain platforms are currently working with them.
They have even had a past of using the technology while doing projects with banks and insurers which include some big names like HSBC, AIA, and MUFG.
Pavel Bains the CEO of Bluezelle mentioned that one of the most innovative and challenging projects they have done has to be creating a decentralized database for Bluzelle. “Everyone said to us ‘this is a big challenge you are taking on’, but that’s what excites us. We have an opportunity to build something very innovative and world-changing”, he further added.
Pavel had joined a startup soon after graduating from the university. Unfortunately for him, it did not turn out to be the way he wanted it to. To make up for it he went on to get a finance job. Today when he thinks about those times he regrets that decision saying that he should have instead gained thorough knowledge on what went wrong and started again instead of backing out.
Before Bluzelle, Pavel had a digital publishing platform for kids books called Storypanda. But when that did not go as expected, he was dejected. His wife though had faith in him.
She said “It’s only a failure if you go back to a regular job. If you take what you learned now and do something else you haven’t failed yet.” This made him realize that it was time to go big! He decided to challenge himself with better and smarter technological innovations, more advanced than Storypanda. This let to him discovering blockchain.
Pavel even mentioned some of his thoughts on Bitcoin. He said that if one believes in crypto then having Bitcoin is a must. It’s a well-known fact that Bitcoin is the most popular cryptocurrency and the mainstream platform will always go to that. When new people are joining in they will buy BTC first before exploring more into the crypto world.
Bluzelle believes that the owner of the data should have complete control over it. Big tech companies constantly misuse the currency that data has turned out to be and it is high time that things change. The ultimate goal for Bluzelle is to ensure that everyone can monetize and control their data.