According to Praerit Garg, the co- founder and President of Symform, storing data in public clouds has its inherent risks pertaining to security and are also expensive since it relies on the data centers for the same. According to Garg, data centers don’t always offer economies of scale, sometime it is the opposite result. There is also growing gaps between cloud storage and local storage costs. While the latter if getting cheaper, the former is unable to keep pace.
The company has thus connected several local storage sites and created a digital cloud. it works on the principle of asking customers to offer excess storage capacity and since its inception in 2010, the company has now created a public cloud network across 46 countries.
This innovative approach has seen Symform charge a licensing fee to the user and utilize the free or excess storage to good use too. Symform is SSAE 16 compliant and creates a secure network by fragmenting the data file and encrypting the same. These fragments are distributed and reassembled whenever the customer needs the information.
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