Over six years ago the Founder & CEO of Yotta Labs, Gary Spence, started to solve a problem of data security and data provenance. After many years of designing systems for the supply chain industry Gary initially set out to design a system that allowed everyone in the supply chain a clear and transparent ledger system.
He called his first research ‘field to fork’. This set out his first vision and, due to the research findings, he also established that many other processes could also benefit from a distributed ledger system. He researched the way data was stored and designed a whole new revolutionary system of which he calls Yotta Cube (named Yotta3).
Yotta3 enables the data to be stored in a safe and secure manner using sharding and encryption, but what is truly revolutionary is how Yotta3 can scale at a rapid rate due to the fact that a traditional data centre is not required.
Gary then continued to research and design another 150 use cases which each having the potential to make a life changing impact around the world.
Gary brought in the expertise of Prof. Elhadj Benkhelifa and the two data scientists have worked to develop and test his vision and have enhanced the products to what we have ready to develop today.
Many thousands of hours of research have been applied including high level of research from PhD. and Post Doctorate research and he is now opening the opportunity to take his vision to the wider market.
Yotta is a true ecosystem of which enables many applications to be applied with the added benefit of blockchain technology and smart contracts.
If you ask Gary to explain what blockchain he is will give you one simple explanation;
“A data storage system of which has no delete option, therefore it provides an incorruptible proof of provenance that has the potential to change the way everyone stores data electronically.”
29 billion: That’s projected number of connected devices all vying for attention on the global network by 2022, according to the Telecommunications Industry Association. More than half of those (18 billion) will be IoT devices.
$43.4 billion: The size of the global edge computing market will explode to this level by 2027 – a compound annual growth rate of 37.4 percent – according to Grand View Research. “It’s quite evident that 5G and its probable benefits have the potential to create a powerful network based on the technology that is expected to reorganize the industry architecture,” the company reports.
75 percent: Gartner predicts that by 2025, three-quarters of enterprise-generated data will be created and processed at the edge – outside a traditional centralized data center or cloud. That’s up from just 10 percent in 2018.