Fintech Impact

Jason Pereira talks to Ehsan Shariati, CEO and Co-Founder of Functionland. The company is the distributed storage platform that allows you to store data on the blockchain but utilizing your own dedicated hardware.

Episode Highlights

• 0.33: In Functionland we are creating a decentralized Google cloud. Basically, like the cloud providers that we are getting services from like storage, backups, computation power and running AI algorithms on their servers, says Ehsan. 
• 1.00: Ehsan's company is decentralizing the hard infrastructure so that everyone become a provider to others and they all can basically provide services to each other
• 2.47: We have a can full of companies there that are providing most of the storage for the Internet at this point and all of the tools get built on cloud providers, says Jason.
• 6.37: Blockchain has given us the power of P2P transactions basically without any middleman and we used that power in the hard work, says Ehsan. 
• 7.41: Ehsan says that they are utility token not a financial token and the token is there to support the utility of the ecosystem which is storage and computer and application providing.
• 8.12: If you have the hardware, you can get all the basic things for free because the tokens are there to pay for it by itself.
• 9.51: In our system there is no central key. You are the owner of your keys and no one else can access your files or decrypt except you, says Ehsan. 
• 11.18: We connect your wallet, your wallet sends the request, encrypt the file with that signature and send it for backup, says Ehsan.
• 12.01: Ehsan explains if there is a fair approximation that the things you are providing are a beauty play for people who have tremendous amounts of storage need or people who also are developers. 
• 15.00: The vision that we had was actually to create a platform that monetizes open source. We want to create a direct channel between the creators like app developers, content creators with the consumers, says Ehsan.

3 Key Points

1. Ehsan decided to create plug and play hardware that any user could plug into the Internet, and it became a DAB server. It gives you the power to own your own data.
2. Ehsan explains how secure it is to have mine data stored on someone else device that could be sitting on their desktop?
3. Ehsan talks about the entire fragmentation of the data and how that works. 

Tweetable Quotes

• "We are a partner of five coin, and we work together on the protocol set that we have. But the approach is different because five coin is more focused on B2B business." – Ehsan
• "We opened a per-order campaign for one month and the initial storage that we have when we go live by the end of the year is 2 petabytes and that would be start." - Ehsan 
• "I have been at developer like for 15 years and the vision that we have that to monetize open source, that's something I know that it's very interesting for a lot of developers." - Ehsan

Resources Mentioned

• Facebook – Jason Pereira's Facebook
• LinkedIn – Jason Pereira's LinkedIn
• Woodgate.com – Sponsor
• Ehsan Shariati – LinkedIn