While Bitcoin price woes are spreading throughout communities around the world, new merchants are still being added on a regular basis. Bitcoin’s underlying technology could prove to be stiff competition for many services, including cloud storage. But that hasn’t kept private cloud storage and file sharing platform Sync.com from accepting Bitcoin payments.
Sync.com – 100% Private Cloud Storage and File Sharing
The name Sync.com might ring a bell with some Bitcoin enthusiasts, as this cloud storage and file sharing platform has been around for quite some time. Cloud storage and file-sharing platforms are facing a lot of competition in recent years and one way for Sync.com to distinguish itself from others is by enabling Bitcoin payments.
Even though Sync.com has only been around since July of 2013, the platform has managed to become one of the market leaders in such a short amount of time. By offering a completely private alternative to consumer-grade cloud storage, combined with zero-knowledge encryption, Sync.com is vastly different from other solutions.
Using zero-knowledge encryption allow Sync.com to offer customers complete privacy. The company is not able to access data stored on its servers, as all files are encrypted. Adding Bitcoin payments to this level of privacy provides Sync.com customers with piece of mind, in terms of both data and payments.
The term “zero-knowledge encryption” is not something companies will publicly advertise, even though over 100,000 business worldwide are using Sync.com’s technology. There is a significant awareness and demand for data privacy protection, especially since Edward Snowden showed the world what governments are doing without the knowledge of the public.
“Protecting customer data is our number one priority here at Sync. As it should be for any business storing sensitive customer information in the cloud. And while we continue to offer traditional forms of payment such as credit card, Bitcoin is a win for our customers and a win for privacy in general.” – Sync CEO Thomas Savundra told DigitalMoneyTimes.
Showing Companies like Dropbox How Privacy Should Be Handled
Despite platforms such as Dropbox and Google Drive becoming ever-so-popular, all of these services lack the proper consumer privacy protection technology. In fact, the exact opposite is taking place; as these companies can harvest and sell consumer data to interested third parties. To make matters even worse, uploaded and stored files are encrypted, but in a far less advanced manner compared to Sync.com’s solution.
It will be interesting to see how many customers decide to sign up for a Sync.com plan and pay for it with Bitcoin. Blockchain technology could prove to be a stiff competitor for services like Sync and Dropbox, as it can offer decentralized encrypted cloud storage and file sharing. Only time will tell if such a service will see the light of day, though.
The number of merchants accepting Bitcoin payments keeps on growing, as there is a huge demand from customers to pay with virtual currencies. Despite the lack of anonymity in Bitcoin transactions, customers can experience a certain level of privacy protection, as their identities are hidden behind a Bitcoin wallet address.
Source: Bitcoin PR Buzz
Images courtesy of Sync.com, Shutterstock