Most cloud storage solutions like Dropbox and Google Drive give users space at a premium, but the actual data is stored in a data center in some remote location. A new product called Space Monkey aims to take the storage out of the data center and put it back in the hands of the user. This allows it to offer more data than traditional cloud storage solutions for a much lower price.

Space Monkey, unlike other cloud services, actually puts a piece of hardware in the home of the user. The physical device allows the company to offer 1TB of cloud storage for US$10 a month, which is substantially cheaper than other storage solutions. Dropbox, for example, charges $9.99 a month for 100GB of storage.

The other benefit of having a physical device is the speed. According to the creators of the Space Monkey, its offering is up to 60 times faster than any other cloud storage service on the market. Of course, this extra speed comes from being on the same local network as the device itself. If a user is out and about, Space Monkey promises speeds similar to that of traditional cloud storage services.

When data is uploaded through Space Monkey, it is encrypted and spread out to different drives on the network. This is done to protect the data in the event of a disaster, such as a fire. It also creates redundant copies, which helps make sure no files are ever lost.

Like most cloud storage solutions, a simple folder will be added to the user's desktop, and anything added there will be uploaded to the service for access anywhere. The company is also working on an iOS and Android application, which should help users get all of their photos and videos organized and in one place. All files are also available on the web.

Space Monkey is currently seeking funding for its cloud storage replacement on Kickstarter. The funding period ends in just over one day, and the project has more than tripled its $100,000 goal. A pledge of $119 gets users the Space Monkey device itself and one year of cloud access. The funding from the Kickstarter campaign will go towards scaling manufacturing and getting the product into the hands of users.

More information is available in the following pitch video.

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