GeoFolder Inc. Launches Cloud Data Residency Storage Solution

    CALGARY, AB, May 31, 2016 /24-7PressRelease/ -- GeoFolder Inc. ("GeoFolder") is pleased to announce the launch of its data residency enabled cloud storage solution, targeting the estimated 105 million small and medium businesses which have not yet adopted a cloud storage option, primarily due to security and local privacy law concerns.

GeoFolder features an intuitive, easy to use interface that allows users to store data in a specific legal jurisdiction, allowing businesses to comply with local privacy and tax laws.
As a Canadian company, GeoFolder is legally in a trusted jurisdiction for American, Canadian and European Union privacy laws, with no requirement for additional Safe Harbour or EU-US Privacy Shield certification as long as they store data from Europe in GeoFolder EU cloud servers. U.S. companies using GeoFolder can now do international business more easily than ever before.

American companies violating data residency and other privacy laws face fines of up to $500,000 Canadian dollars in Canada and up to four percent of worldwide revenue under proposed legislation in the European Union. GeoFolder provides a tool to address the data storage aspect of these requirements.

"Even in countries where data residency is not yet the law, the best practice for companies tasked with securing their data is to keep it out of the reach and control of foreign governments," said Mr. Ian McAnerin, President. "If you ask most businesses if they would be okay with a system that could store their confidential US business data in China or Russia without their knowledge, they would say no, even though it's currently legal to do so."

By offering a cloud storage solution with built in multi-country data residency, GeoFolder.com promises to solve the problem of balancing the desire to use cloud storage with the responsibility for legal compliance and to follow industry best practices.

Founded in 2015, GeoFolder is a Canadian company featuring a cloud storage solution designed from the ground up to be the answer to data residency and sovereignty in the World Wide Web. Featuring a unique tabbed design, users can switch storage locations in a single click. GeoFolder currently offers resident cloud storage in the United States, Canada, Australia and the European Union, with many more countries becoming available in the near future. GeoFolder offers Individual, Business and Agency plans, all of which provide at least a terabyte of storage per user, military grade encryption, data residency, and a 30-days free trial.

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