Startups to launch decentralized storage solution hello.app to take on centralized cloud giants

Hello.app, a decentralized storage system designed to provide innovative solutions for Web3 users, was launched by teenage visionary entrepreneurs Álvaro Pintado Santaularia and Alexander Baikalov.

It secures funding of €300,000

According to an October 17 statement shared with CryptoSlate, the project recently secured €300,000 in a pre-funding round, valuing the company at €1.4 million. The funding will be spent on addressing the weaknesses of conventional Web2 storage solutions and positioning the company as the Web3 equivalent of Dropbox.

Specifically, the storage system represents the world’s inaugural user-controlled, open-source Web3 decentralized storage software. As part of the product launch campaign, new users get 100 GB of free storage.

Meanwhile, the acquisition of the hello.app domain represents a strategic investment by the founders to drive mainstream adoption. The hello.app domain is one of the most expensive website purchases in Spain’s history, amounting to €115,000 (about $120,000).

Decentralized storage

Distinct from centralized storage systems, hello.app leverages blockchain technology to offer increased security, data privacy and user control. This approach enables users to maintain ownership of data in a decentralized ecosystem, without individual points of ownership and control.

Hello.app also allows users to act as node operators by contributing storage to the system and, in turn, earning corresponding rewards. With a focus on user autonomy and privacy, this platform is poised to redefine both the storage and Web3 domains.

Álvaro Pintado Santaularia, CEO and Founder of hello.app, revealed that the creation of the platform came from the imperative to address the prevalent storage issues in Web2. He pointed out that the dominance of industry giants has raised concerns about the privacy of individual data.

“hello.app’s vision is to refresh the status quo data storage landscape and deliver a more user-centric and transparent framework that serves the best interests of the individual.”

Over the years, the founders have demonstrated their expertise. Álvaro Pintado (CEO), who wrote “The Decentralized Financial System” at the age of 17, presents his deep understanding of decentralized technology. Likewise, Alexander Baikalov, the company’s CTO, has been freelancing since the age of 15, further underscoring their technological acumen.

The post Entrepreneurs to launch decentralized storage solution hello.app to take on centralized cloud giants appeared first on CryptoSlate.

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