I am not talking about the size of the market, just pointing out there are already several companies that seem to do this. To be more clear: looking at idrives's home page's table iDrive, Mozy, and Carbonite all do "Security: Encryption on transfer, Encryption on storage" now I don't think these systems are going to be NSA level security but you now have to convince people you do security better than the existing players which tends to be hard.
In the end security is more about trust than the algorithm. I need to trust you not to log the password somewhere etc. Established players gain some trust because they have other things on their mind than your data and presumably they want to protect their reputation, so IMO the new guy is bester off focusing on something more tangible so you get a chance to build your reputation.
Which is why I suggest a free App that demonstrates you do security. You could build that relationship of trust and drum up some somewhat free press around how subversive your application was and turn that into a strong market.
PS: Good luck with your startup. I think you can make it work, but after considering the same idea and talking to people about what they trust I moved on to other areas .
In the end security is more about trust than the algorithm. I need to trust you not to log the password somewhere etc. Established players gain some trust because they have other things on their mind than your data and presumably they want to protect their reputation, so IMO the new guy is bester off focusing on something more tangible so you get a chance to build your reputation.
Which is why I suggest a free App that demonstrates you do security. You could build that relationship of trust and drum up some somewhat free press around how subversive your application was and turn that into a strong market.
PS: Good luck with your startup. I think you can make it work, but after considering the same idea and talking to people about what they trust I moved on to other areas .