In the early part of the 2000, we began seeing the commoditization of data storage, explosive growth in data and ubiquitous high speed connectivity.
Personal data including digital photos and music files were in need of protecting. Consumers were beginning to become aware of the need for offsite data backup but it was still too cost prohibitive for the average computer owner.
So we created PeerPoint, a personal data backup product that enabled peered storage on computers of friends and family members, at a fraction of the cost of the competition.
The thesis was that we would leverage the unused space on excessively large personal HDs and make these into peered data backup nodes.
By leveraging the unused storage space on the drives of trusted peers, we would virtually eliminate the prohibitive cost of offsite storage typically accomplished using centralized data backup services, which at the time could cost upwards of $100/mo for a few GBs of storage.