Tacoma, Wash.-based Topia Technology has launched an initial coin offering to raise funds for a very first secure decentralized file sharing infrastructure (SDFS).
Topia plans to combine its patented security for shredding and encrypting data with blockchain to build “the most robust” file sharing infrastructure.
The SDFS infrastructure will enable anyone, from any device, to easily and securely share digital assets with specific recipients. Users will get the highest level of security, privacy, and confidence as there won’t be a central authority.
Decentralization will also protect users against massive and vicious attacks all too common in today’s digital communities, Topia said.
“The TopiaCoin ICO is the first step towards a truly game-changing moment in data security to address the crisis large companies, governments, and individuals face today,” Topia Technology Founder and CEO Janine Terrano said in a statement.
The TopiaCoin offering will include up to 300 million tokens and the pre-sale will start on October 20. The public sale is set to begin on November 6.
TopiaCoin will go to market using a (Simple Agreement for Future Tokens) model, as compared to the commonly used “utility token” model. This means that at the time of distribution, which is expected on or before the Token Generation Event (TGE), TopiaCoin will be usable on their newly launched network.
TopiaCoin will be used to purchase new workspaces, pay workspace members for data replication, and by third parties as a currency for transactions with their clients.
Topia will unveil SDFS Alpha in the fourth quarter of 2018, followed shortly thereafter by its API and libraries. The TGE is planned for the second quarter of 2019.