A Practitioner’s View on Distributed Storage Systems: Overview, Challenges and Potential Solutions

Abstract

This paper provides an overview on how content can be managed with a blockchain or other distributed ledger technology (DLT), and what challenges need to be addressed in managing this content as part of transactions. Transactions on a blockchain may require supporting documents, for example, photos, reference documents, or actual contracts. As DLTs becoming an increasingly popular method to complete transactions and share information, several issues are arising that need to be addressed, such as: Where should this electronic content in documents be stored? Will the storage system have the features and functionality to properly manage this content through the "information lifecycle", including the retention and disposition of business records based on legal and regulatory requirements? The paper presents an overview of the emerging technology involved with distributed storage systems. It presents five solutions currently available, including their designs, how they secure and store files, and whether or not these files can be deleted in order to meet record disposition requirements and regulations. The discussion points out the need for alignment between multiple stakeholders and consortium members in a distributed ledger-based community with shared ecosystem scaling objectives. The challenges of scaling include the need to protect personal and sensitive information, especially when this information should normally be disposed after a record's retention period has ended.