by Low Lai Chow in Tech on Thursday 16 May 2013

The Cloud is a great place to store all your precious data, but that option, as the folks of Space Monkey tell us, will set you back by over $800 a year for every TB’s worth — plus it will take take months or years (that’s forever in Internet time) to push 1TB of data to the Cloud. So, in steps Space Monkey, a device that offers a complete Cloud storage subscription service at $10 per month for 1 TB storage.

It works a little differently from most Cloud services: instead of housing your data in data centers, Space Money provides a local device on your own network so you can transfer data 15 to 60 times faster than other services like Dropbox, Google Drive, SkyDrive or iCloud.

It also purports to be resistant to Mother Nature outages: it splits up your files into pieces after encrypting them, then spreads out the security-locked pieces to geographically diverse locations, similar to the architecture used for email. The simplicity is great too — Space Monkey provides a folder on your desktop where you can upload your stuff to, and from there, it continues running in the background, encrypting files and making secure copies to store in the network.

The project has clearly caught the imagination of data-hungry geeks out there: it has already tripled its $100,000 funding goal on Kickstarter.