This all sounds really cool, but it doesn’t seem at all feasible to me. It’s near impossible to scale. Because they are looking to use only a few LEO satellites, they need to rely on GSO sats to connect because the curvature of the earth prevents connecting to these LEO satellites. But that back and forth adds massive amounts of latency.
But most importantly, they estimate the entire endeavor costs 480 million USD and they end up with only 5PB of storage. Meaning they need to recoup about 100K per TB to even break even… And even after that, they still have centralized storage, managed by a third party, which requires inherent trust.
All of that to solve something that can also be solved with encryption and managing your keys yourself.
The only unique thing is that there is no reliance on earthly laws and governments. That cuts both ways, there is no danger of them trying to spy on your data, but there is also no protection of earthly laws to defend you against others illegally accessing your data. If that’s worth $100K / TB to you, more power to you. But I think Tardigrade already offers pretty much the same level of effective privacy as this system would.
Am I missing something? Apparently investors seem to be at least a little interested. What’s the upside?