Kim Dotcom and BnkToTheFuture today announced the reincarnation of MegaUpload, along with development and software-as-a-service tool Bitcache.
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Also read: Kim Dotcom’s Mega & Bitcoin ‘Baby’ Will Be Born This January
MegaUpload 2: ‘Dropbox Without File Reading Or Hacking’
In its pitch on BnkToTheFuture today, MegaUpload 2 (MU2) describes itself as “a privacy-centric file sharing and storage platform that allows you to store and share your files away from prying eyes.”
Both MU2 and Bitcache will use bitcoin exclusively. This includes all investments before the cut-off point for fundraising on BnkToTheFuture on October 24.
“Think Dropbox, but without the ability for Dropbox to read your files or hackers to steal them from our servers simply because we cannot read or steal them as they are encrypted from end to end,” the pitch continued.
BnkToTheFuture also announced the news on Twitter earlier today:
Our first #Bitcoin investing only pitch is open for qualifying investors. MegaUpload 2 & #Bitcache by @KimDotcom https://t.co/z4vaHjeZCh
— BnkToTheFuture (@BankToTheFuture) October 3, 2016
The reveal comes after months ofspeculation regarding what Dotcom would create as a replacement for the orginal Megaupload. Earlier this year, he tweeted that Megaupload and Bitcoin “had sex.”
I can tell you that Megaupload and Bitcoin had sex. There is a pregnancy and I have a feeling that the baby will be such a joy.
— Kim Dotcom (@KimDotcom) July 10, 2016
While full details of MU2 have not yet circulated, there is a rough outline:
“To enable such file storage and sharing with even more privacy, we aim to use Bitcoin and Blockchain as the glue,” the pitch states. “We aim to utilize Blockchain based storage services such as Storj, Maidsafe and others for file storage and our own custom technology built on top of Bitcoin that allow microtransactions to be attached to every file.”
Dotcom’s MegaUpload 2 Will Be ‘Dropbox Without Ability to Read Your Files’
Kim Dotcom Regarding Bitcache, the release refers to a product aiming to “develop modular applications as a software-as-a-service business selling solutions to companies such as MU2.”
“Should we achieve our goals websites can plug into our technology with one line of code to pay or accept Bitcoin micropayments for internet based services and content at scale.”
It adds that MU2 will be a test client for some Bitcache modules.
Meanwhile, the online community reacted quickly to the announcement, with Dotcom skirting skepticism regarding previous Megaupload issues in a typically dry style .
Potential investors in MU2 may use Bitcoin only, in contrast to other BnkToTheFuture opportunities. Responding to a query regarding the decision, the site commented that investors can use a “range of altcoins” as well.
What do you think about MegaUpload 2 and Bitcache? Let us know your thoughts in the comments section below.
Images via Shutterstock.
Would you like to know more about MegaUpload’s relationship with security and Bitcoin? Head over to the Bitcoin.com news section or ourForum and ask the community.