This is pretty interesting. A while back I was in the early engineering team that built something with similar characteristics (Maginatics > sold to EMC/Dell). It was a cloud (S3, others) distributed file system with variable-length chunks, per-chunk encrypted, with strong deduplication and focus on metadata operation optimization. We were primary storage (vs backup), making it a lot more challenging (performance, app compatibility, real-time collaboration, etc). The demo is pretty interesting, definitely need to read the whitepaper.