Sia Tech (SC), is a decentralized, distributed platform that powers cloud storage. Users can participate in two ways. One, they can rent out their hard drive space in exchange for Siacoins, and two, they can pay with the tokens to store data on the blockchain.
The primary benefit of using this method is to safely store the data in the cloud and have it in your private possession. This is achieved through encryption and fragmentation, which makes files inaccessible without your password.
Their long term vision is to overtake the internet storage needs. They can reach this by providing the cheapest, fastest, and safest platform. They are still in their initial phases, but in the future, they hope to become the primary storage layer for the entire planet.
For more information, check out their knowledge base.
Official Website: http://sia.tech/