Share this article
AMD, Seagate and EY Join Protocol Labs-led Decentralized Storage Alliance
The industry organization is led by Filecoin creator Protocol Labs.
By Brandy Betz
Updated May 9, 2023, 4:00 a.m. Published Oct 31, 2022, 11:00 a.m.
Protocol Labs, the company behind the decentralized file-sharing protocol Filecoin, announced an alliance that aims to help more companies make the transition to Web3 from Web2.
The industry organization has a trio of heavy-hitters as founding partners: computer hardware giant Advanced Micro Devices (AMD), storage device maker Seagate and Big 4 accounting and consulting firm Ernst & Young (EY).
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Filecoin essentially allows users to buy or sell computer storage on a network that offers decentralized storage of data and files. The service is meant to act as an alternative to centralized storage providers like Amazon Web Services.
The Decentralized Storage Alliance, launched in conjunction with the nonprofit Filecoin Foundation, will work to establish development standards that would help decentralized storage solutions meet the needs of enterprise customers, including making it easier for data centers to onboard onto a decentralized network. Working groups will be created to solve other specific issues that could slow the transition from Web2 to Web3.
“As the global data and storage markets are accelerating, there is a lag in the adoption of decentralized storage technologies,” James Canterbury, partner and principal at EY Blockchain, said in the press release.
The founding partners aren’t new to the crypto space. AMD’s central and graphics processing units (CPU and GPU) have long been used by crypto miners. Seagate experienced a sales surge last year due to Chia, a blockchain that utilizes the unused computer storage space of miners to validate the network. EY announced a partnership with the Polygon protocol in Sept. 2021 to deploy its own products on the Ethereum blockchain. The first of those products – a supply chain manager – launched earlier this year.
“We see decentralized storage as an opportunity to diversify and add resilience to our data infrastructure,” Canterbury continued. “And we see the alliance as a crucial piece of this – enabling adoption of decentralized storage and cohesion across the broader industry."
Read more: What Are IPFS and Filecoin and How Can They Be Used for NFTs?
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Pye Finance Raises $5M Seed Round Led by Variant and Coinbase Ventures
The platform aims to make locked Solana staking positions tradable via an onchain marketplace.
What to know:
- Pye Finance raised a $5 million seed round led by Variant and Coinbase Ventures, with participation from Solana Labs, Nascent and Gemini.
- The startup is building an onchain marketplace on Solana for time-locked staking positions that can be traded.
- Pye says the product targets Solana’s large pool of staked SOL, worth roughly $75 billion, and aims to give validators and stakers more flexibility over terms and reward flows.
Top Stories
