So what’s to stop Mega from going down just the way Megaupload did? Mega’s privacy, which is a no-foolin’ stroke of genius. See, all of your files are encrypted locally before they’re uploaded, so Mega has no idea what anything is. It could be family photos or work documents, or an entire discography of your favorite band. Poof: online and easy to share. And importantly, Mega doesn’t have the decryption key necessary to get in. See? It’s a masterstroke of copyright subversion.

via Hands On With Kim Dotcom’s New Mega: This Service Could Dismantle Copyright Forever.

Technically you should be able to do this with any cloud storage service.  The key here is that the encryption is done locally.  There are many ways to encrypt your stuff locally so why would it matter which cloud storage provider you use?  Maybe I’m missing something but this doesn’t seem all that novel of an idea other than perhaps the new Mega provides the software and user interface to make the entire process easier.  Mega is supposed to launch tomorrow so more information will surface.