GemStone is a scalable object database built on Smalltalk. Version 3.5 will focus on "cloudifying" GemStone with features like X.509 certificate security for all connections and object filtering to restrict data in the cloud. The roadmap also includes standalone Smalltalk execution, OpenSSL 1.1.1 support, and potential Pharo integration. Licensing options include perpetual, subscription, and community editions with GemBuilder for Smalltalks added to the free community edition.