Filecoin, created by Protocol Labs, exemplifies a decentralized solution for file storage, incentivizing users to provide storage space through a token model.

Filecoin should be viewed as a market layer across all providers, enabling those who currently do not sell their storage to enter the market and drive prices down.

Filecoin offers decentralized data storage, meaning that if a provider like Amazon decides to cut you off, your data remains accessible through the network.

Filecoin was created to incentivize the distribution of content within the IPFS network, addressing the market for storage where some people want to buy storage and others want to provide it.

Dropbox has evolved from merely storing files to facilitating team collaboration, highlighting the importance of sharing over just storage. It started as a file-sharing service, but I recognized early on that the role of files in people's lives was changing, especially with the rise of platforms like iTunes and Netflix.

I wanted to build an organization that could facilitate projects like Filecoin, which could be seen as a way to build collaboratively rather than in isolation.

The motivation for individuals to contribute storage to the Filecoin network will primarily be financial, as they can earn money by providing their resources.

In the Filecoin network, your influence over consensus is determined by the amount of storage you provide, rather than your CPU power, which is a shift from traditional blockchain models.

We expanded Dropbox's focus beyond just file storage to include private photo sharing and team collaboration, acknowledging that files were evolving in their importance.