Spinbackup, a Google Cloud partner and leading cloud cybersecurity and cloud-to-cloud backup solutions provider for SaaS data has announced the upcoming launch of its blockchain-based solutions for cloud-stored data and single sign-on access. The company aims to provide the most secure environment for data by replacing passwords with a blockchain recording process and moving data to a decentralized storage using blockchain technology.

Nearly 2 billion data records were lost or stolen worldwide in the first six months of 2017, eroding consumer trust in existing data storage and security measures. Hackers gain unauthorized access to accounts through increasingly sophisticated phishing attacks, causing you to lose your critical data completely. Spinbackup’s solution combats both fronts by creating a password-free login through the blockchain, and by automatically backing up data on decentralized storage.

Dmitry Dontsov, Founder and CEO of Spinbackup said:

“Spinbackup removes the human factor for data security to fully automate data protection, and adding blockchain technology allows us to provide an extra level of security. This level of protection is unparalleled in a cybersecurity community, and we look forward to earning the blockchain community’s support as we continually enhance our service.”

The company will issue utility tokens called SPIN Tokens, which will provide access to the SPIN Data Protection Platform that will include a set of data loss and leak protection solutions exclusively available for token holders. Registered platform users may use these solutions with a 50% discount, or may also resell them to traditional cloud users. Participants will have the opportunity to take part in the Spinbackup token sale in October.