• Filecoin is revolutionizing data storage through its blockchain-based cloud storage platform.
• It has partnered with venture capital firm a16z and Lockheed Martin for various collaborations.
• The platform recently underwent an upgrade with the launch of Filecoin Virtual Machine (FVM) Builder Cohort on the Mainnet
Introduction
Filecoin is revolutionizing data storage through its blockchain-based cloud storage platform. The project incentivizes a global network of computer operators to provide a file-sharing and storage service, unlocking the open data economy. Through its native token FIL, it has managed to attract major partners such as Lockheed Martin which is worth more than $100 billion and venture capital firm a16z which has over $35 billion in assets under management.
Partnership with a16z Crypto
Filecoin recently entered into a partnership with venture capital firm a16z Crypto, providing targeted support to some of web3’s most visionary founders participating in the 2023 Crypto Startup School (CSS) accelerator program. Participants will benefit from Privileged Engineering Support, Decentralized Storage Credits, Talent support, and PL Founders Community.
Launch of FVM Cohort
Mid-last month, the platform underwent an upgrade with the launch of Filecoin Virtual Machine (FVM) Builder Cohort on the Mainnet. Over 60 project teams were building with FVM on its Hyperspace testnet and were part of the mainnet pioneers to support the creation of impactful and sustainable solutions, on FVM as part of Protocol Labs network.
SEC Investigation
Although there is much to be optimistic about for Filecoin; however it has attracted attention from Securities and Exchange Commission (SEC). In December 2020, SEC launched an investigation into potential misconduct regarding its 2017 ICO sale process for raising funds for development purposes.
Conclusion
Filecoin continues to make advancements in data storage and collaboration with partnerships like that between it and a16z crypto as well as through launches like FVM cohort on main net . While there are regulatory issues being looked into by SEC , these do not take away from the potential that this project holds .