Pura Cryptocurrency on Blockchain-Big Data Fusion for Success

Blockchain is virtually immune to hacking and guarantees the security of the information stored in the ledger.

Detroit, MI - April 16, 2018 /MarketersMedia/ —

The term Blockchain refers to the technological revolution of digital ledgers safely, securely, and transparently monitoring transactions online. What big data and Blockchain together means for the financial industry is the potential to break into the digital world that until now is largely untouched on a large scale. Although DLT was initially explored within the context of cryptocurrencies, it quickly became obvious that the technology has implications far beyond these confines. With two such remarkable phenomena co-existing in the past decade, it was inevitable that researchers, corporations, and market participants would turn their attention to investigating the combined potential of Big Data and blockchain, and the initial signs point to a truly extraordinary mixture, according to the experts of the Pura Cryptocurrency project.

The simplest definition of blockchain is perhaps the one provided by IBM, which explains it as “a shared immutable ledger for recording the history of transactions.” On the other hand, we have artificial intelligence (AI) – the key technology employed in Big Data analytics. As complexity scientist and data strategist Francesco Corea puts it, “Blockchain and AI are the two extreme sides of the technology spectrum: one fostering centralized intelligence on close data platforms, the other promoting decentralized applications in an open-data environment.” Nevertheless, Corea is among those who believe that the two technologies can work together, each amplifying the strengths of the other. AI can help blockchain overcome some of its limitations by providing support in areas such as energy consumption management, scalability, layer and application security, and efficiency, among others. Conversely, DLT can augment AI by increasing effectiveness and trustworthiness, lowering market entry barriers, and reducing catastrophic risks scenarios.

While blockchain is virtually immune to hacking and guarantees the security of the information stored in the ledger, it is not designed to handle the analytics aspect, which is the reason Big Data carries so much weight, Pura Cryptocurrency panel notes. According to Trent McConaghy, chief technology officer of BigChainDB, the intersection of DLT and AI will provide companies with far more than data integrity, as critical as that is. In a world where the two technologies complement each other, there will be more information gathered, which will in turn improve modeling capabilities. Furthermore, “when data from silos is merged, you don’t just get a better dataset, you get a qualitatively new dataset. Which leads to a qualitatively new model, from which you can glean new insights and have new business applications,” McConaghy wrote. Another executive who believes in the tremendous potential of this alliance is Nikunj Thakkar, CEO of DataOne Innovation Labs. According to him, the marriage of blockchain and Big Data will enhance the accuracy and security of the data shared, refine decision-making in machine learning, provide real-time detection of illegal activities, and ensure complete automation, among others. “There is no doubt that the future of business, transport and government is poised to undergo a radical transformation when the coming together of Big Data and blockchain becomes reality in the next decade,” Thakkar concludes.

Pura Cryptocurrency was created with a vision to democratize transactions, making them affordable for everyone by eliminating intermediaries such as banks and payment processing companies. This international cryptocurrency allows people to send money in an instant, directly and anonymously. Run by a team of 20+ experts, Pura is also the world’s first socially and environmentally conscious digital currency project: it is implementing a protocol that will divert 10% of its mining rewards to initiatives benefiting the planet and the public.

Pura Cryptocurrency - The World’s First Socially & Environmentally Conscious Cryptocurrency: http://puracryptocurrencynews.com

PURA (@PuraSocial) - Twitter: https://twitter.com/purasocial

PURA - Home - Facebook: https://www.facebook.com/officialpura

Contact Info:
Name: PCN
Email: contact@puracryptocurrencynews.com
Organization: PuraCryptocurrencyNews.com

Source URL: https://marketersmedia.com/pura-cryptocurrency-on-blockchain-big-data-fusion-for-success/331554

For more information, please visit http://puracryptocurrencynews.com

Source: MarketersMedia

Release ID: 331554

Latest News

UK teen gets 2 years for targeting CIA chief's phone, email

Apr 23, 2018

LONDON — A British teenager has been sentenced to two years in a youth detention center for compromising the email and phone accounts of senior U.S. government officials in what a judge called acts of "cyber-terrorism." Prosecutors say Kane Gamble conned call centers during 2015-16 into revealing information that got him into the accounts of then-FBI director Mark Giuliano, then-Secretary of Homeland Security Jeh Johnson, then-CIA chief John Brennan and other officials. They say Gamble, who was part of a group of hackers called "Crackas With Attitude," put some of the information he gathered online. Gamble pleaded guilty last year....

UK mulls plan to ban plastic straws and cut waste

Apr 23, 2018

LONDON — Britain's government wants to take action to ban plastic straws, drink stirrers and cotton buds — and is urging other Commonwealth nations to follow suit. Prime Minister Theresa May said Thursday that "plastic waste is one of the greatest environmental challenges facing the world." She told Commonwealth leaders meeting in London Thursday that protecting the ocean environment is "central to our agenda," and urged the 53 member nations to sign up to the newly formed Commonwealth Clean Oceans Alliance. Officials say banning plastic straws in Britain would mean that billions of discarded plastic straws would no longer pollute...

London Marathon says reconsider fancy dress in record heat

Apr 23, 2018

LONDON — London Marathon runners have been urged to reconsider dressing up in fancy costumes because Sunday's race is set to be the warmest on record. Forecasts indicate sunshine and a temperature of 23 degrees Celsius (74 F), beating the previous high of 22.2 in 2007. Extra water, ice, showers and medical stations will be available to runners throughout the 26.2-mile (42.2-kilometer) course. "Anyone wearing fancy dress, look at whether it's appropriate in the conditions. If you think it's not appropriate, don't do it in fancy dress," race director Hugh Brasher said Thursday. "People are urged to wear sunscreen and...

Facebook adds privacy settings to comply with European rules

Apr 23, 2018

LONDON — Facebook is enhancing privacy safeguards for users around the world as it complies with new European rules designed to make it easier for consumers to give and withdraw consent for the use of their data. Facebook is introducing the new policies this week in Europe, but eventually everyone on the social network will be asked to decide whether they want to enable features like facial recognition and some types of targeted advertising, the company said in a blog post. "Everyone - no matter where they live - will be asked to review important information about how Facebook uses...

Cambridge Analytica ex-CEO refuses to testify in UK

Apr 23, 2018

LONDON — Cambridge Analytica's ex-CEO, Alexander Nix, has refused to testify before the U.K. Parliament's media committee, citing British authorities' investigation into his former company's alleged misuse of data from millions of Facebook accounts in political campaigns. Committee Chairman Damian Collins announced Nix's decision a day before his scheduled appearance but flatly rejected the notion that he should be let off the hook, saying Nix hasn't been charged with a crime and there are no active legal proceedings against him. "There is therefore no legal reason why Mr. Nix cannot appear," Collins said in a statement. "The committee is minded...

Sign up now!