Q+A with Michael Horowitz, Seal CEO by Megan Klimen, Founding Officer, Filecoin Foundation

Derived from Filecoin Decentralized Web Gateway Event in Davos, Switzerland on May 25, 2022 - Sustainability in Data Storage

Q: Michael - welcome! Why don’t we start off with you telling us about Seal Storage – what you do, and why you’re working with Filecoin?

A: Seal is the global leader in decentralized cloud storage. You could call us the Airbnb of cloud storage. Our software provides a middleware layer that allows enterprises to interact with Filecoin,  and thus accelerating the network’s commercialization. Our goal is to make it seamless for existing Web2 platforms to elevate themselves to Web3, and we’re starting with enterprise solutions for NFTs and archival data.

Q: The Seal team is working to preserve important historical and humanitarian records on the Filecoin network. Can you tell us more about that work and why it’s important to you?

A:Through our work, we have been fortunate to be able to do well, while doing good. Preserving historical and humanitarian records in a secure and affordable way is an important part of  Seal and Filecoin’s efforts to make Web3 technology more accessible to the organizations that need it most. For example, Seal is one of a few Filecoin storage providers selected to support Starling Lab. Founded by Stanford Engineering and the USC Shoah Foundation, Starling Lab aims to establish greater trust in digital records using Web3 technology. Starling captures, stores, and verifies digital content such as the 55,000 Holocaust testimonials created by the USC Shoah Foundation. Filecoin’s network ensures that these records are secure and immutable. 

In addition to this, we have some really exciting partnership announcements that we’ll reveal next month at FilAustin. What I can say now is that we’ve seen broad interest from top academic institutions, research organizations, and Web3 firms… You know what they all have in common? Massive data set storage needs. 

There is a lot of important research data out there that is not as safe or  affordable on a centralized platform. You hear stories of research institutes that have trouble accessing or storing their data properly and this can hold up actual scientific advancement. A big pain point that we hear from our clients is that accessing their data is outrageously expensive. This gives Seal an advantage in getting reception and traction.  As part of the Filecoin network, we’re able to offer an affordable solution where there is not a single point of failure for data storage. 

Q: The environmental impact of data storage is a growing concern. Seal seems to have found a solution to this problem. Can you tell us a little about how you're able to provide ESG-friendly storage solutions? 

A: The permanent data centers that we contract with  are powered by 100% renewable energy, which is something we were able to commit to early on. When choosing a permanent data center, it’s important to choose a location where 100% renewable energy is possible. Additionally, after conducting extensive research, we discovered what appears to be the most transparent software solution: a public dashboard created by Proof of Impact that will hold us accountable to our ESG standards and we hope it inspires other providers to take on similar initiatives. 

Q: What have been the biggest challenges when it comes to building a green storage solution? 

A: The biggest challenge is the upfront work of researching the best standards and methods to be a sustainable decentralized storage provider. We put a lot of thought and research into setting a gold standard and hope to inspire others to set similar ESG goals and standards. 

Q: How have you balanced affordability with environmentally friendly solutions? 

A: Since Seal Storage is powered by Filecoin, we’re incentivized to protect data through block rewards. This exemplifies the elegance of blockchain technology, and its ability to create better incentive structures… Our decision to use environmentally friendly solutions, does not result in an economic tradeoff for our partners. This allows us to provide free storage to universities and institutions, preventing them from paying excessive amounts to store on centralized platforms.

Q: How is Seal accelerating the adoption of Web3/Filecoin network?

A: We are the "enterprise layer" providing seamless and frictionless access to the Filecoin network. We’re onboarding academic  institutions, companies enabling Web3, along with NFT projects. By making it free and easy for these organizations, we’re making the Filecoin ecosystem itself sustainable and long lasting. 

Q: What’s next for Seal? 

A: In addition to storing valuable information, we’ve come up with a solution to a $40 billion asset risk issue with NFTs. NFT media are prohibitively expensive to store on chain, and that has led to lack of secure storage.  Filecoin presents a tailormade solution for the NFT storage problem, and we have pioneered a product to address it. We are offering custody, backup, and insurance for the NFT media utilizing the unique capabilities of decentralized storage: immutability, verifiability, and chain of custody. We also  have several upcoming announcements to share about partnerships with NFT minting houses, and marketplaces.

In addition to NFTs, our existing partnership with a renowned multinational scientific organization holds the crown for the largest commercial deployment of a Web3 technology in history. We are well on our way to leading Web3 adoption and decentralized storage for real world applications.