Sort:  

Not, really. I've read the white paper. Basically, the idea is they plan to use the IPFS they invented and many projects including the systems for Casper in Ethereum are using. There are other storage options like Storj or Burst. What they are aiming for is a routing system to find the easiest route of access to a particular piece of data in a blockchain to solve the problem a latency, it could include Storj and Burst as part of its service. Not needing to travel the world and back to chat with someone that's a couple feet far from you.
Also Juan Bennet's intention of creating something like Bell Labs for computer science and cryptography.
Here's an interview in the Y combinator.