Importance of cloud computing highlighted at investment summit

Gulf Today Report

Sir Anthony Ritossa's 18th Global Family Office Investment Summit held recently in Riyadh in the presence of Prince Abdulaziz Bin Faisal Bin Abdulmajeed Al Saud.

The event hosted more than 400 world leaders who share similar values regarding the importance of tailoring solutions to the world’s greatest challenges and making an impact through investment, positive action and personal commitment.

Royal families, global business leaders, leading entrepreneurs, and private investors were guests at the event. The previous summits have raised $2.8 billion in investments for leading global start-ups, entrepreneurs, funds, and philanthropic endeavors.

As a VIP guest at the event Ethernity CLOUD presented the latest developments in its network for private, confidential data processing.

In light of today’s focus on Web 3.0, the applicability of Ethernity CLOUD is limitless and long-term use cases include healthcare, military, and government applications. The company’s technology is decentralised, confidential anonymous, and highly available, which makes it an ideal solution for the fast-growing confidential computing market, which is estimated to reach $52 billion in the next three years, according to Everest Group Market research.

“Our processes are transparent, and the data is confidential - while in storage, in transit, and during processing. With data being at the core of the digital world and privacy demand on the rise, Ethernity CLOUD provides a valuable network where data can be processed in a private and confidential manner,” said Iosif Peterfi, Founder and CEO of Ethernity CLOUD.

Because Ethernity CLOUD uses blockchain technology, the activity on the network is fully transparent and it takes place in a trustless environment, preventing foul play. On top of everything else, because the network is comprised of independent CPUs (nodes), downtime is virtually reduced to zero. Essentially, Ethernity CLOUD provides a way for business entities to run dApps in a private and confidential manner, while also providing a passive income source for node operators.

Importantly, the company is also environmentally oriented and takes proper measures to offset carbon emissions. Through a partnership with Green Ant, a project which plants trees in Thailand and mints an NFT for each tree that they plant, Ethernity CLOUD is committed to  becoming carbon negative.

Iosif Peterfi speaks during the summit.

“As a former security guy, having worked with the US Department of Defense, I recognise that blockchain is the building block that is the answer to solve a lot of our current issues. At Ethernity CLOUD, data privacy is considered a human right. That is our mission. Blockchain opened the door to make our project feasible; blockchain for us is about decentralisation,” said Peterfi.

“Ethernity CLOUD is revolutionising the cloud computing industry with its fair ecosystem where everyone’s right to privacy is fully protected, and integrity is insured by the blockchain itself. Data is protected from abusive cloud providers activities ensuring fair, decentralised and truly private operations. We are honoured to have had the team join us in Riyadh,” said Sir Anthony Ritossa, Chairman of Ritossa Family Office.