The blockchain is on course to power the next generation of the Internet.
Despite being deemed as too ambitious at the start, protocols like Ethereum are starting to become platforms for launching decentralized applications (dApps) that will fundamentally change how we consume products and services.
One of the characteristics of these dApps is that they exchange massive amounts of data that need to be stored and managed constantly.
There is a problem, however.
Blockchains like Ethereum are not designed for data storage and management (although plans are on the way to make the network more efficient) as doing so takes up a lot of precious time and space.
Until a proper solution can be found, the blockchain has its limitations which makes it inferior to current database storage practices.
Bluzelle is a decentralized data storage platform designed for the upcoming Internet revolution.
The platform aims to deliver high reliability, enterprise-grade scalability, and high-performance speeds to dApps that use the blockchain for data storage.
Bluzelle is a business that has been in existence for some time now with it being founded in 2014 by co-founders Neeraj Murarka and Pavel Bains.
The platform has the blessings of a highly experienced team with Bains being a former finance and digital media professional who has past experience at Disney as well as having a role in a number of reputable video game studies; Murarka has a similarly equal history with previous positions at Google and HP.
Other than developing its data storage platform, Bluzelle is also planning to introduce its enterprise services to countries in Southeast Asia and Japan this year with further plans to target North America, including metropolitan cities like Vancouver, Seattle, Portland, and San Francisco.
Bluzelle is service-based (middleware) storage solution for the blockchain and businesses using it.
The blockchain is in the end, just a protocol similarly to how the internet is a communication protocol. Hence, there is a need for middleware applications to capitalize on these protocols instead of making things more complicated.
All of this starts off with a decentralized database network which includes two parties: producers and consumers.
Producers in the Bluzelle platform are the people who mine which is a process where a user’s computer plays a part in the transaction validation process. This is equivalent to a user renting out their hardware resources to the network.
Consumers like software developers or businesses can then use the Bluzelle network to store data for their applications.
The ecosystem highly revolves around the use of Bluzelle tokens, the platform’s official cryptocurrency.
Consumers pay with Bluzelle tokens to access the platform’s services, while producers earn tokens in exchange for sharing their resources and time to the platform.
All in all, this creates a solution where data management and storage is provided in a secure, efficient and significantly cheaper way; at the same time, Bluzelle plays a crucial part of the infrastructure needed to power the coming of the decentralized web.
Technically, Bluzelle stores data by creating a data storage solution that stores small bits and parts of data on computers around the world instead of having the whole thing on the network.
Bluzelle provides several features and benefits to users of the platform:
A very reliable platform
Instead of having one large piece of data on the network, Bluzelle stores tiny pieces of data on nodes across the globe which eliminates any single point of failure.
Extremely scalable even for enterprises
Scalability is an important part of all data storage services but that’s not a problem for Bluzelle as it stores data in a distributed and decentralized manner that’s capable of providing enterprise-level scalability.
Fast performance speeds
Bluzelle focuses on the importance of high-performance speeds by dynamically adjusting the number and location of nodes responsible for the consumer’s data.
This makes the network flexible which allows it to adjust its performance according to demand automatically.
Despite being a decentralized data storage platform, Bluzelle also has other services geared towards businesses and corporations who want to use the blockchain.
In addition to this project, Bluzelle is also working on a KYC/identity management solution, a fully integrated smart insurance platform, as well as an international payments platform.
Bluzelle’s KYC/Identity Management solution
Several established Asian banks have partnered up with Bluzelle to develop a new identity management system which works off the blockchain and Bluzelle’s platform.
This is a step forward in improving today’s Know Your Customer (KYC) process where fraud, expensive costs, and long sign-up processes are extremely common–not things you’d want in such an important process.
Instead, Bluzelle will use a one-stop blockchain-enabled KYC platform with common KYC standards that can be integrated easily with banks and financial platforms across the world.
Integrated smart insurance
Bluzelle has also partnered with two international insurance companies to introduce smart insurance based on the blockchain with more partnerships coming along the way.
By using the blockchain for insurers, this allows consumers to buy a policy then have their entire claim processed in real-time regardless of the location or the time.
Here’s an example of how it will work:
A customer purchases a personal injury insurance. This transaction then enters the blockchain and an app is downloaded by the customer to manage his or her insurance status.
After receiving a medical examination, the customer uploads images of medical receipts via the app which is then used to collect claims on the app.
Smart contracts will validate and process the claims which then pays out the funds to the user automatically.
Secure and efficient international payments
International payments are still a problem today but a problem that can be solved easily with the properties of the blockchain.
Because of that, Bluzelle is in the process of developing an international payment platform in partnership with institutions like Temenos and Maybank.
The system which is called the Bluzelle Payment Switch can be used to process easy and secure international payments while maintaining full security and auditing from start to finish.
Here are the details of the upcoming Bluzelle token sale:
Token name: BLZ
Token base: Ethereum (ERC-20 compliant)
Token supply: 500M total BLZ tokens
Token sale duration: January 18th – February 2nd 2018
Token sale target: $19.5 M USD (includes the private pre-sale and public sale)
Token exchange rate: 1 BLZ = $0.12 USD