The New Silicon Valley Crypto Darling

If you haven’t seen HBO’s hit show Silicon Valley, it’s essentially about a startup company that develops new innovations.

This season, they’re attempting to decentralize the internet.

Now, the internet might seem decentralized already. But the data we send and receive must pass through datacenters — which are controlled by giant companies like Amazon and Google.

And companies like Comcast and Verizon act as the gatekeepers, controlling who can even access the internet.

In the show, they’re attempting to make the internet fully peer-to-peer.

As one of the characters says, “If we could do it, we could build a completely decentralized version of our current internet… with no firewalls, no tolls, no government regulation, no spying. Information would be totally free in every sense of the word.”

Seems like a pipe dream, right?

From Fiction to Reality

The thing is there’s a new cryptocurrency about to launch that does exactly that.

We already know that cryptocurrencies offer a decentralized platform for completing transactions.

This allows us to cut out the middleman, so we can transfer money peer to peer.

But we’ve just uncovered a new coin that decentralizes the internet itself.

The coin underpins a technology that already exists — the InterPlanetary File System (IPFS), which creates a network of people who all store data in a decentralized fashion.

Without getting overly technical, a user wishing to store a file would pay a fraction of what the regular internet would charge to host that file. And it would make the file available in the decentralized marketplace.

And providers of the storage would be rewarded with a stake in the new crypto coin.

The file is hosted in multiple locations. It’s reliably stored and it can be accessed quickly, since the storage locations will be close to the user.

IPFS de-duplicates files and creates a much more resilient network that’s not tied down to centralized providers or locations. That means it’s more secure — even resistant to an electromagnetic pulse attack, for example.

The team behind this new coin offering is also the team behind IPFS, so the technical backup for the coin is top quality.

And its decentralized storage system will compete with cloud storage currently offered by Amazon and Google — a $75 billion market.

After the ICO, this new cryptocurrency will be created by providing storage. Essentially, this replaces the “mining” process you see with bitcoin.

And because of this the coin is already gaining tons of momentum pre-ICO.

And the Cash Keeps Flowing

It’s being backed by Y Combinator, the leading Silicon Valley startup incubator, along with many other Silicon Valley luminaries — including Sequoia Capital and Winklevoss Capital.

As of right now this new ICO is a venture capital investment with a lockup of at least 18 months.

But it has major backing both from Silicon Valley and the open source community, which are the main generators of the cryptocurrency market.

And this means big profit potential for you once this coin becomes available to the public.

For Tomorrow’s Trends Today,

Louis Basenese
for The Daily Reckoning

The Daily Reckoning