Small businesses, in most cases, aren’t able to leverage many of the digital technologies available because of their rising costs. Cloud technology is one of those digital technologies that is widely used and available, but it’s still a big challenge for many of the startups because the upfront cost might be low, but over time, the cost multiplies, leading to revenue leaks.
The founders of Nakamoto and amp; Turing Labs might have just developed an alternative solution for startup businesses. The startup Pekka, a cloud-computing platform, uses blockchain technology to connect organizations/people with other organizations/people who want to rent their idle resources.
The startup was founded by IEEE Senior Member Chong Li, Member Sichao Yang, and Member Lei Zhang. All 3 members were coworkers at Qualcomm in San Diego. The company was launched in 2018 and have raised $2 million; it currently has 13 employees- 6 are in New York City and 7 in Hangzhou, China.
About 70% of the computing around the world goes unused daily, and it’s a big waste. Most private business owners currently have powerful machines that are sitting ideal. Using the platform, both user and provider can gain benefits from the machine. According to Yang, one of the founders of Nakamoto and amp; Turing Labs said in a statement that the revenue from cloud computing is expected to exceed by $200 billion and is growing annually by 16%, while the revenue generated by individual and small business is set to reach $25 billion.
There is currently no cost-effective solution in the market for the small businesses that demand secure, inexpensive, and reliable web services for a certain period. The blockchain-based cloud services technology is set to reduce cloud-computing costs by 90% and the company will be charging 10% in commission to connect cloud-computing clients to the consumers.