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

States aim to stop internet release of 3D-printed gun plans

Aug 21, 2018

SEATTLE — A federal judge in Seattle is scheduled to hear arguments Tuesday on whether to block a settlement the U.S. State Department reached with a company that would allow it to post blueprints for printing 3D weapons on the internet. The federal agency had tried to stop a Texas company from releasing the plans online, arguing it violated export regulations. But the agency reversed itself in April and entered an agreement with the company that would allow it to post the plans. The company is owned by a self-described "crypto-anarchist" who opposes restrictions on gun ownership. Nineteen states and...

FBI probes computer hacks in California House campaigns

Aug 21, 2018

HUNTINGTON BEACH, Calif. — The FBI launched investigations after two Southern California Democratic U.S. House candidates were targeted by computer hackers, though it's unclear whether politics had anything to do with the attacks. A law enforcement official told The Associated Press the FBI looked into hacks involving David Min in the 45th Congressional District and Hans Keirstead in the adjacent 48th District. Both districts are in Orange County and are seen as potential pickups as the Democratic Party seeks to win control of the Congress in November. A person with knowledge of the Min investigation told the AP on Monday...

Report: Experts knew Genoa bridge had weakened 20 percent

Aug 21, 2018

GENOA, Italy — Engineering experts determined in February that corrosion of the metal cables supporting the Genoa highway bridge had reduced the bridge's strength by 20 percent — a finding that came months before it collapsed last week, Italian media reported Monday. Despite the findings, newsmagazine Espresso wrote that "neither the ministry, nor the highway company, ever considered it necessary to limit traffic, divert heavy trucks, reduce the roadway from two to one lanes or reduce the speed" of vehicles on the key artery for the northern port city. A large section of the Morandi Bridge collapsed Aug. 14 during...

Trump administration less concerned about conserving oil

Aug 21, 2018

WASHINGTON — Conserving oil is no longer an economic imperative for the U.S., the Trump administration declares in a major new policy statement that threatens to undermine decades of government campaigns for gas-thrifty cars and other conservation programs. The position was outlined in a memo released last month in support of the administration's proposal to relax fuel mileage standards. The government released the memo online this month without fanfare. Growth of natural gas and other alternatives to petroleum has reduced the need for imported oil, which "in turn affects the need of the nation to conserve energy," the Energy Department...

Science Says: Hotter weather turbocharges US West wildfires

Aug 21, 2018

As temperatures rise in the U.S. West, so do the flames. The years with the most acres burned by wildfires have some of the hottest temperatures, an Associated Press analysis of fire and weather data found. As human-caused climate change has warmed the world over the past 35 years, the land consumed by flames has more than doubled. Experts say the way global warming worsens wildfires comes down to the basic dynamics of fire. Fires need ignition, oxygen and fuel. And what's really changed is fuel — the trees, brush and other plants that go up in flames. "Hotter, drier...

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