It is a FREE project created to improve the ownCloud software. So far you can save as much information you want.
You will receive an email from the administrator just to gain more privileges: You can share your information with your friend who has an account too, if they don have an account you can share over links any other ownCloud connected to the Federated Cloud.
If you experiment any problems contact the administrator and we will help you.
Thanks for using the app!