EDFS, launching today, is the new kid on the block in the blockchain world, set to revolutionize the crypto space.
EDFS offers a secure way to own and share digital files and data. Everything from art, music, medical files, legal documents and any variation of NFTs.
Their mission is to connect blockchain to the real world, perfectly summarized in their tagline “Own and control your own data”.
EDFS stands for ‘Encrypted Decentralized File Storage’ and is the first protocol of its kind in the computer world, establishing a standard for file security at the kernel layer of the file system.
In the application of blockchain technology, EDFS is not only the next generation of NFT, but also an important extension of decentralized storage.
This involves the creation of a brand new blockchain system for digital files in the real world, one which not only protects on-chain data, but also provides encrypted storage and supports the full lifecycle of digital files in all formats.
EDFS has been pioneered to address a huge problem that exists within current IP scenario where there is an inability to distribute creative and intellectual material without risk of loss. Any IP that can be digitized, from artistic to legal and the scientific, is far easier to distribute, but it is also far easier for it to be stolen or misused.
Any digital file format and the software system that utilizes it runs on a specific operating system. EDFS has pioneered the design and implementation of a groundbreaking Decentralized Real-time Security File System (DSFS). This system combines the underlying kernel layer of an operating system with blockchain technology, thereby introducing a secure collaboration of on-chain data and offchain encrypted digital files throughout their effective lifecycle, and covering all file formats.
By combining the DSFS with an Electronic Seal (ESeal), EDFS is able to achieve security in harmony with convenience, giving users the ability to balance sharing and privacy, openness and restriction.
EDFS isn’t restricted to creative and artistic fields, medical health data has always been a hot topic in blockchain. With EDFS, users can upload their own medical and health data and share it when this is desirable or necessary.
Additionally, EDFS’s platform can be utilized to construct in-game economic models in videogaming environments, including transactions of the game props. Game props could potentially be used across games, but are ultimately owned and distributed in controlled fashion.
Rico Pang, Co-Founder and CEO, EDFS said “The launch of EDFS is a game changer in the world of digital IP.
Having a full life-cycle authority over digital assets is so important right now and this doesn’t exist in the Crypto space.
We originally conceptualized this technology to solve the issue of making NFT’s fungible, however, it’s not only solving NFT issues, this technology is applicable to all digital files stored in an operating system. This can be anything from a piece of art, music, medical records or a legal document.
Our technology is able to protect the file and give the rights to the owner to manage it, whether they choose to sell, lease or simply give access.”
Pang added “For the first time in the Crypto space, you can now share, whilst more importantly, protect your digital assets.
You can now lease, share and sell for a value that your asset is truly worthy of and can no longer be copied, which gives no value to the owner. This is about the user taking control of their own IP.
This is bigger than just the tech industry. EDFS has created a solution for businesses, governments as well as supporting the artist, the writer, the musician.
We are connecting blockchain to the real world”.