Cubbit. The first distributed data-center.

Project Information

Community Cloud

Grant agreement ID: 817089

DOI

10.3030/817089

Project closed

EC signature date 9 May 2018

Start date 1 June 2018

End date 30 November 2018

Funded under

• INDUSTRIAL LEADERSHIP - Innovation In SMEs

Total cost

€ 71 429,00

EU contribution

€ 50 000,00

Coordinated by

CUBBIT SRL
Italy

Periodic Reporting for period 1 - Community Cloud (Cubbit. The first distributed data-center.)

Reporting period: 2018-06-01 to 2018-11-30

Summary of the context and overall objectives of the project

Cubbit develops a technology that disrupts the global cloud industry by eliminating the root cause of its problems: centralised web farms. Cubbit replaces them with a distributed data-center based on a peer-to-peer network that by design is free from infrastructure costs, scalable and safe. It is also environmentally sustainable: Cubbit uses 10 times less energy than centralised cloud.
Cubbit offers the first forever free and end-to-end encrypted cloud storage to users. Our software pools together their unused bandwidth, CPU and storage that transforms into a wide range of web services with top quality and security, to be sold to SMEs for half the market price.
Cubbit project sets 2 overall objectives:
1| delivering over time the main web services that are now prerogative of centralised data-centers;
2| expanding from Europe to the global market.

Work performed from the beginning of the project to the end of the period covered by the report and main results achieved so far

"The feasibility study of Cubbit: Community Cloud has been successful in collecting market information needed for each of the 6 research areas:
#1 Technology | Cubbit for Individuals reached TRL7, Cubbit for Business TRL6.
#2 Crowdfunding | a campaign was prepared to be launched internationally in Feb’19.
#3 SMEs | Focus groups, surveys and direct interaction at international fairs were performed to validate the UVP; Customer acquisition costs tested to be around 290€, compared to an expected Customer Lifetime Value of approx. €2,250.
#4 Fundraising | Cubbit was the first Italian startup ever chosen by Techstars & Barclays’ accelerator in Tel Aviv, Israel, a top-notch program focused on cybersecurity. The company is now backed by 3 VC funds and 2 private investors.
#5 Mass Users | the Swarm Race, Cubbit’s official pre-crowdfunding campaign, was launched in Nov’18. Pre-orders from more than 20+ countries have already been registered.
#6 B2B2C Partnerships | Cubbit is discussing business opportunities with its shareholder Barclays and other international organizations in the Telco industry.
"

Progress beyond the state of the art and expected potential impact (including the socio-economic impact and the wider societal implications of the project so far)

"The outcomes confirm that the project shall continue according to the new strategic Business Plan prepared during the feasibility study. As an expected result, the first distributed data-center based on cooperative crowdsourcing will be up and running on the market after a 15-month period, disrupting the Cloud providers’ cost structure. The impact generated regards goal#13 (Climate action), goal#12 (Responsible consumption and production) and goal#9 (Innovation in infrastructure) of the sustainable development goals set by UN for 2030."

Cubbit is the first distributed data-center