The document discusses object storage as a new storage paradigm that can solve problems with current direct attached storage, storage area networks, and network attached storage. Object storage uses data elements called objects that consist of data and rich, flexible metadata. This allows for better management of large amounts of unstructured data compared to traditional file and block storage systems. The document also describes characteristics of object storage like the ability to distribute data across multiple locations for fault tolerance and access objects over the internet from any location.