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

More News From Redshift Daily

Hawaii weighs first-in-nation plastic bans at restaurants

Mar 19, 2019

HONOLULU — Hawaii would be the first state in the U.S. to ban most plastics at restaurants under legislation that aims to cut down on waste that pollutes the ocean. Dozens of cities across the country have banned plastic foam containers, but Hawaii's measure would make it the first to do so statewide. The liberal state has a history of prioritizing the environment — it's mandated renewable energy use and prohibited sunscreen ingredients that harm coral. A second, more ambitious proposal would go even further and prohibit fast-food and full-service restaurants from distributing and using plastic drink bottles, utensils, stirring...

AP source: Justice Dept. probing development of Boeing jets

Mar 19, 2019

WASHINGTON — U.S. prosecutors are looking into the development of Boeing's 737 Max jets, a person briefed on the matter revealed Monday, the same day French aviation investigators concluded there were "clear similarities" in the crash of an Ethiopian Airlines Max 8 last week and a Lion Air jet in October. The Justice Department probe will examine the way Boeing was regulated by the Federal Aviation Administration, said the person, who asked not to be identified because the inquiry is not public. A federal grand jury in Washington sent a subpoena to someone involved in the plane's development seeking emails,...

New rules likely coming but not to replay

Mar 19, 2019

DENVER — In no sport but the NFL do players, fans, coaches and general managers annually debate the rules of the game, advocating ways to make pro football better, safer, fairer. Officiating is especially a hot topic around the league after a blown call late in the NFC championship game pretty much cost the New Orleans Saints a trip to the Super Bowl. That capped a season which began with the long-awaited clarification of what constitutes a catch and then was marred by widespread confusion over what exactly is a legal takedown of the quarterback. While defenders learned new ways...

Death toll from Indonesia floods, mudslides rises to 89

Mar 19, 2019

JAYAPURA, Indonesia — The death toll from flash floods and mudslides triggered by torrential downpours in Indonesia's easternmost province has risen to 89, with dozens of others missing, officials said Tuesday. Floodwaters and landslides destroyed roads and bridges in several areas of Papua province's Jayapura district early Sunday, hampering rescue efforts. National Disaster Mitigation Agency spokesman Sutopo Purwo Nugroho said the worst-hit area from the flooding was Sentani subdistrict, where tons of mud, rocks and trees from a landslide on a mountain rolled down to a river that burst its banks, sweeping away residents. He said 89 bodies had been...

Report: National Enquirer paid $200K for private Bezos texts

Mar 19, 2019

SAN FRANCISCO — The Wall Street Journal reports that the National Enquirer's publisher paid $200,000 to obtain intimate texts between Amazon CEO Jeff Bezos and his mistress Lauren Sanchez. American Media Inc., the supermarket tabloid's publisher, reportedly paid that sum to Michael Sanchez, Lauren's brother. The Journal's finding, attributed to people familiar with the matter, parallels the conclusion reached by private investigators working for Bezos as of early February. Those investigators reportedly found that Michael Sanchez had leaked the texts to the Enquirer, although they didn't appear to conclude who might have paid for them. Bezos has said AMI threatened...

About Us

RedShiftDaily was started out of fascination with mankind discoveries through peering out into the cosmos. Our team of enthusiasts are going to deliver only the best and latest progress in space technology and discovery so you too can share in the excitement.

Contact us: sales[at]redshiftdaily.com