The Megaupload megalomaniac prepares to launch his new service.

According to Pitchfork, the Mega service promises 50 GB of cloud-based storage. Dotcom is hoping to give former Megaupload users access to their old files and is working with his lawyers to provide former premium users of Megaupload with premium status on the new site.

In an interview with The Guardian, Dotcom obfuscates (shockingly) when asked if Mega would suffer the same legal fate as Megaupload:

I agree that there will be a certain degree of anxiety around that, and I can fully appreciate and understand that. I would say that with time, when people see what the site is capable of, when they understand the technology, they read the reviews, and people like it, they’re going to try it, and hopefully over time feel comfortable using it for their personal data.

The good thing here is that you can now be sure when you upload your files into the cloud that only you hold the keys – not the service provider, not anyone else outside the service provider, only you personally hold the keys. And what you do with that is your responsibility.

The move to the cloud was first announced last year. Mega shouldn’t be confused with Megabox, the planned “record label alternative” that would allow artists to sell their music directly to fans. Dotcom tweeted that Megabox and Megakey (an “ad supported plugin for free music”) are still six months away.