Cudo Compute is a distributed computing network for consumers of cloud services. It connects buyers of cloud services with suppliers, who can monetise their idle computing resources.
Cloud computing has been one of the defining technologies of the 21st century. By outsourcing computing and storage, users no longer have to buy and store the resources they require to conduct their operations. They can simply lease, and release required resources, which has greatly increased speed, efficiency and productivity across a range of industries and verticals. Demand for cloud computing is now growing exponentially, with the dominant cloud providers spending tens of billions of dollars on infrastructure to keep pace.
The phenomenal advancement in cloud computing has not been without its challenges. The centralisation of cloud servers has led to concerns over data privacy, while research has highlighted the environmental impact of hyperscale data centres. In addition, due to physical limits in the production of microchips, the efficiencies of cloud computing compared with consumer owned devices is tailing off. The latencies incurred when transmitting data to and from the source are impractical for meeting the demands of a hyperconnected world. As George Gilder states, “Cloud computing, which was a great triumph for its time and dominated its time, is now reaching the end of the line.”
Meanwhile, consumer tech, which includes 2 billion PCs and 2.7 billion smartphones, spends the majority of the time sitting idle. The processing capabilities of these powerful devices present a huge source of potential revenue. Unlocking the value stored within these assets can provide a passive income for owners while delivering affordable on-demand compute for enterprise consumers.
Selling spare compute is the natural evolution of the sharing economy, which began with the resale of unwanted goods, and then underutilised property and automobile capacity. In the Web 3.0 era we are entering, data is the primary currency and resources are pooled, forging open cloud networks where access is certain, and anyone can provide resources. Cudo Compute will be at the vanguard of this movement, facilitating the transition to fog and grid computing, in which resources move to the edge of the cloud, creating additional demand for distributed computing. Until now, decentralised computing platforms have been hampered by complexity, a narrow addressable market and poor UX. A steep learning curve has limited their use to the tech- savvy, leaving the bulk of the world’s idle computing power untapped. Designed with user experience in mind, Cudo Compute will require no coding or complex installation and can be fully functional in minutes.
The team behind Cudo Ventures, headed by CEO Matt Hawkins, has over 16 years’ experience in cloud computing having built C4L, a cloud service provider that supported 1% of the UK internet, with tens of millions of daily users on its infrastructure across Europe and the US. As a result, the team has consolidated an extensive network of industry contacts, including several enterprises and service providers that will become early Cudo Compute consumers.