BitTorrent, the company behind the technology with the same name and behind the BitTorrent and uTorrent clients, has been looking to branch out for a while now. It's trying to turn its technology into a legitimate business, with varying degrees of success.
Mostly, it has relied on BitTorrent and uTorrent's scale to promote content, apps and so on. But now it's leveraging the technology itself with a very experimental, though very interesting, app dubbed simply Sync.
The app will enable users to sync files between computers, similar to what Dropbox and others are already doing, using the BitTorrent p2p technology. The catch is that there's no cloud component, there will be no storage cloud backing up the files.
That's a significant difference, both technically and from a security/privacy point of view. With no cloud copies, no one but you will be able to access the files, even in encrypted form.
The files will be encrypted of course and presumably split up in chunks and scattered around the distributed cloud, i.e. with other users. This should make it possible for you to access those files from anywhere even if your other computer isn't turned on.