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Cubbit - the first distributed data-center recycling the internet resources we waste into the most competitive cloud provider.

Periodic Reporting for period 2 - Community Cloud (Cubbit - the first distributed data-center recycling the internet resources we waste into the most competitive cloud provider.)

Reporting period: 2020-06-01 to 2020-12-31

All companies using cloud services look for excellent performances, competitive prices, and the highest standards of privacy. Yet, no cloud provider is currently able to provide all these three benefit together. This pain point arises because the current standard of centralized cloud (i.e. one proprietary web farm serving millions of users) has huge operating costs and recurring weaknesses concerning data security.
Cubbit develops a technology able to disrupt the global cloud industry by replacing the root cause of its problems, i.e. centralized server farms, with a distributed data center based on a peer-to-peer network free from infrastructural costs, highly scalable, and secure by design.
Cubbit turns the storage, CPU, and bandwidth provided by its users - who access the first ever forever-free end-to-end encrypted cloud storage service - into professional web services sold to SMEs customers - who finally get a secure, efficient, and inexpensive cloud.
While around 70% of the revenues made by traditional cloud providers are burnt into direct operating costs, Cubbit turns the costs into a revenue stream as it gains a margin on every domestic server activated.
Cubbit is also environmentally sustainable, using up to 10 times less energy than centralized cloud. For every TB you store on Cubbit, you save the gross equivalent to 100 kgCO2/year.
Founded in July 2016 and based in Bologna, Italy, the company is the first Italian startup ever invested by Techstars & Barclays’ accelerator in Tel Aviv, Israel, a world-class program focused on cybersecurity with an acceptance rate lower than 1%. It is now backed by 2 VC funds and private investors.
The objective for the whole project is to reach TRL9 both of Cubbit for Individual and Cubbit for Business. In 15m, the mass commercialization of the B2C cloud service that will crowdsource Cubbit infrastructure will start simultaneously with the launch of the first B2B SaaS cloud service.

Despite the COVID-19 impact (which lead us to re-think the development strategy of Cubbit for Business especially), at the end of the 2nd reporting period (31 dic 2020), these are the main deliverables completed and milestones reached:

> a Community of 2,000+ users up and running;
> 3,400 Cubbit Cells sold over 70 countries;
> Complete & qualified Webapp for Individuals, full compatibility with Google Chrome and main features usable from Mobile;
> Complete & qualified Desktop app for Individuals, full compatibility with MacOS;
> Complete & qualified Cubbit Cell device;
> Cubbit for Individuals reaches TRL8 and its MVP goes on sale;
> Investment Round successfully closed at €3M instead of the planned €1.8M.
Cubbit is introducing the world’s first distributed cloud provider, going beyond the traditional system of centralized data-centres as well as the decentralized paradigm suggested by blockchain-based marketplaces.
Privacy by design, eco-sustainability (40,000kg of CO2 emissions saved on avg. every year per PB stored) and unmatchable cost advantage for final users and SMEs: this is where the innovation is expected to develop until the end of the project.
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