Filecoin Storage Provider Spotlight — Meta Blockchain

Apr 21, 2023

This is one in a series of periodic blog posts devoted to profiling Filecoin storage providers. In these posts, we examine what they bring to — and the benefits they derive from — the Filecoin ecosystem.

Founded in 2018, Meta Blockchain is a rapidly growing, ambitious South Korean storage company. A multi-million-dollar company with 28 employees, the business has two data centers in Seoul and provides enterprise cloud storage services via a subsidiary called Meta Cloud and Creation (Meta C&C).

Meta C&C works with corporate customers across a wide range of industries including law, healthcare, entertainment, and education, providing decentralized storage for media files. The company was an early participant in the Filecoin ecosystem and built a Filecoin test node in 2020. Today they operate 34 Filecoin nodes and provide about 20 PiB of decentralized storage. They are also equipped with a high-speed sealing machine and the capacity to supply more than 10 PiB per month for enterprise use–for both easy retrievals and for backup only.

Speaking about the company’s journey with IPFS and the Filecoin network, Hye Lyoung Kong, Meta Blockchain’s Strategy Team Lead, recalls: “When I first learned about Filecoin, I recognized why being a decentralized storage provider would be more beneficial and profitable. Around that time, Dong Kyun Ko founded a storage company and made an offer for me to lead the strategy team. That was the start of Meta Blockchain and our endeavors with the Filecoin network.” Today Meta Blockchain is led by CEO Grace Park.

Meta Blockchain is a well-known local storage provider in Korea. The company’s goal is to expand into the Asian and North American markets as they work towards becoming a global provider. Meta C&C expects the Filecoin network will be the primary storage solution for their corporate cloud services starting in May 2022. Today, they are replicating and storing corporate data, and in addition, they are planning to store backups with other storage providers based on four different continents — distributing storage for increased safety and reducing the time for data retrieval.

In addition, both Hye Lyoung and the leadership team at Meta Blockchain have been encouraging other stakeholders to be more creative with their business models and encouraging them to leverage the IPFS and Filecoin protocols to scale. As a result, the company plans to scale its storage capacity from the current 20 PiB to 100 PiB by the end of this year. Also, the company is actively in the process of establishing Meta NFT and gallery as a stepping stone to expand into the NFT field.

Meta Blockchain believes that decentralization, verifiability, and security are the top three values for the Web3 world, and they support the Filecoin vision to store humanity’s most important information.

“We highly appreciate the value of Filecoin’s decentralized storage and hope to go beyond a simple storage provider to become a game-changer in the ecosystem,” said Hye Lyoung. “We believe that the future of Web3 will be built on the foundation of distributed storage solutions, like IPFS and Filecoin, and we are focused on expanding the ecosystem.”