Pura Cryptocurrency On the Rising Success of Big Data-Blockchain Projects

The simplest definition of blockchain is a shared immutable ledger for recording the history of transactions.

Detroit, MI - February 14, 2018 /MarketersMedia/ —

With the rise of publicity and interest in cryptocurrency harvesting and investing in recent years, many speculate on the future of spending, receiving, and transferring money online. Pura Cryptocurrency believes the future of online money management and banking is actually a fusion of big data and blockchain transaction recording. The distributed ledger technology (DLT), as blockchain is also known, seized the spotlight after the emergence of Bitcoin in 2009, but the underlying principles were described back in 1991 by cryptographers Stuart Haber and W. Scott Stornetta. 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 Cryptocurrency - Explores the Momentous Potential of Blockchain-Big Data Fusion: https://finance.yahoo.com/news/pura-cryptocurrency-explores-momentous-potential-173500922.html

Pura Cryptocurrency Examines the Future Prospects of Digital Money: https://finance.yahoo.com/news/pura-cryptocurrency-examines-future-prospects-015500153.html

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

Source URL: https://marketersmedia.com/pura-cryptocurrency-on-the-rising-success-of-big-data-blockchain-projects/300968

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

Source: MarketersMedia

Release ID: 300968

Latest News

Farm animals may soon get new features through gene editing

Nov 16, 2018

OAKFIELD, N.Y. — Cows that can withstand hotter temperatures. Cows born without pesky horns. Pigs that never reach puberty. A company wants to alter farm animals by adding and subtracting genetic traits in a lab. It sounds like science fiction, but Recombinetics sees opportunity for its technology in the livestock industry. But first, it needs to convince regulators that gene-edited animals are no different than conventionally bred ones. To make the technology appealing and to ease any fears that it may be creating Franken-animals, Recombinetics isn't starting with productivity. Instead, it's introducing gene-edited traits as a way to ease animal...

Big studies give mixed news on fish oil, vitamin D

Nov 16, 2018

CHICAGO — Taking fish oil or vitamin D? Big studies give long-awaited answers on who does and does not benefit from these popular nutrients. Fish oil taken by healthy people, at a dose found in many supplements, showed no clear ability to lower heart or cancer risks. Same for vitamin D. But higher amounts of a purified, prescription fish oil slashed heart problems and heart-related deaths among people with high triglycerides, a type of fat in the blood, and other risks for heart disease. Doctors cheered the results and said they could suggest a new treatment option for hundreds of...

Smartphone makers bet on foldable screens as next big thing

Nov 16, 2018

SAN FRANCISCO — For the past few years, the smartphone industry has been searching for a breakthrough to revive a market mired in an innovation lull and a sales slump. A potential catalyst is on the horizon in the form of flexible screens that can be folded in half without breaking. Samsung and several rivals are preparing to roll out such screens to make devices more versatile for work and pleasure. The foldable screens could increase display space to the size of a mini-tablet, but fold like a wallet so they revert to the size of regular phones. In an...

China unveils stealth combat drone in development

Nov 16, 2018

ZHUHAI, China — A Chinese state-owned company says it is developing a stealth combat drone in the latest sign of the country's growing aerospace prowess. The CH-7 unmanned aerial vehicle also underscores China's growing competitiveness in the expanding global market for drones. China has won sales in the Middle East and elsewhere by offering drones at lower prices and without the political conditions attached by the U.S. The CH-7's chief designer Shi Wen says the aircraft can "fly long hours, scout and strike the target when necessary." "Very soon, I believe, in the next one to two years, (we) can...

How 'net neutrality' became a hot-button issue

Nov 16, 2018

NEW YORK — For a fundamentally nerdy subject, net neutrality is pushing a lot of political buttons. The latest salvo is over a California law that restores a ban on cable, wireless and other broadband providers from impeding people's ability to use their favorite apps and services. The federal government had rescinded that ban, and the Trump administration is seeking to block California's effort as an imposition on federal prerogatives. Though net neutrality started off more than a decade ago as an insight into how to make networks work most efficiently, it has taken on much larger social and political...

About The Next Discovery

The Next Discovery is equipped with recent Science & Tech news to impart knowledge to individuals awaiting the future.

Contact us: sales@tndiscovery.com