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Partnership announcement: Signals on top of iExec V1

Partnership announcement: Signals on top of iExec V1

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Towards a Decentralized Marketplace of Cloud Resource

Towards a Decentralized Marketplace of Cloud Resource

Journal du Net is one of the biggest players in the French tech media scene. 9 mln readers visit the website monthly, looking the latest trends and developments. JDN’s newsletter of the 27th of October featured an interesting article on a future marketplace of cloud resources.

The article raised the following question: can a cloud computing marketplace one day appear? While this vision can first be discarded as science-fiction, the truth is companies such as iExec are already taking the lead in making it a reality, by leveraging cutting-edge technologies such as blockchain.

Blockchain allows iExec to orchestrate and secure transactions on the Internet without the need for a trusted third party. The technology is paramount for the commercialization of underutilized or unused cloud resources, in a secure and transparent way. Against the current centralized cloud model, the adoption of the disruptive decentralized model is not an easy matter.

With iExec, the threshold of quality of execution will be held by comparing the results of different providers. If one’s results diverge from the others, its reputation will be diminished, therefore creating a strong incentive towards quality of delivery. In the long run, the marketplace will regulate itself to avoid redundancy of testing between providers with a high level of trust.

The last part of JDN’s article focused on the potential of compute becoming a new financial asset. Global companies with huge IT fleets that are not fully harnessed can put their hardware to work, for example during idle hours or holidays.

This model would also attract cloud providers themselves. With Spot, Amazon already offers a service allowing users to acquire its data centers’ unused resources (at a variable cost relative to supply and demand). Other cloud providers could lean towards the same solution too. This trend could lead to the creation of a whole new market for cloud resource, on which speculators could trade IT power.

The original article can be browsed here.

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