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 Daily World Feed

Global stocks turn higher, price of oil keeps rising

Sep 26, 2018

BEIJING — Global stock markets turned higher Tuesday as investors parsed the latest news in the United States trade disputes, while the price of oil continued to gain on concerns that OPEC countries would not increase production. KEEPING SCORE: In Europe, France's CAC 40 gained 0.3 percent to 5,494 while London's FTSE 100 rose 0.5 percent to 7,494. Germany's DAX added 0.3 percent to 12,389. On Wall Street, futures for the Standard & Poor's 500 index and Dow Jones industrial average were both up 0.3 percent. ASIA'S DAY: The Shanghai Composite Index lost 0.6 percent to 2,781.14 while Tokyo's Nikkei...

China demands US cancel arms sale to Taiwan

Sep 26, 2018

BEIJING — China on Tuesday demanded the U.S. cancel a $330 million sale of military equipment to Taiwan, warning of "severe damage" to bilateral relations and mutual cooperation if Washington fails to comply. Foreign ministry spokesman Geng Shuang told reporters at a regular briefing that the sale violated international law and the "basic norms governing international relations." It was unclear what aspect of international law Geng was referring to. "We urge the U.S. side to ... immediately cancel this arms sale plan, and stop military contact with Taiwan so as to avoid severe damage to China-U.S. ties, peace and stability...

Kabul mural honors AFP photographer slain in IS bombing

Sep 26, 2018

KABUL, Afghanistan — Amnesty International and an Afghan art collective unveiled Tuesday a mural in Kabul in the memory of AFP's slain chief Afghanistan photographer, Shah Marai, who was killed in April along with eight other reporters in a double suicide bombing by the Islamic State group. It's the first in a series of murals planned by Amnesty and the Artlords collective to highlight the work of Afghan activists, teachers, lawyers, students, trade unionists and others. Earlier in the day, artists from the collective gathered by a segment of blast walls that crisscross the Afghan capital, and finished painting the...

China official says talks impossible with 'US holding knife'

Sep 26, 2018

BEIJING — China cannot hold talks with Washington on ending their escalating trade dispute while the United States "holds a knife" to Beijing's neck by imposing tariff hikes, a Chinese official said Tuesday. The warning came after the Chinese government released a report that accused President Donald Trump of bullying other countries. It dampened hopes for progress toward a settlement of their war over Beijing's technology policy. Trump went ahead Monday with a tax hike on $200 billion of Chinese imports. Beijing retaliated by imposing penalties on $60 billion of U.S. products. The conflict stems from U.S. complaints Beijing steals...

Asian stocks lower on US-China trade worries

Sep 26, 2018

BEIJING — Asian stock markets were mostly lower Tuesday after a Chinese government report accusing the Trump administration of bullying other countries dampened hopes for a settlement in their escalating tariff war. KEEPING SCORE: The Shanghai Composite Index lost 0.8 percent to 2,775.91 and Sydney's S&P-ASX 200 shed 0.1 percent to 6,180.10. Tokyo's Nikkei 225 advanced 0.1 percent to 23,900.57 while Hong Kong and Seoul were closed for holidays. Benchmarks in New Zealand, Malaysia and the Philippines retreated while Taiwan and Singapore advanced. WALL STREET: Industrial companies and bank sank after news reports that China pulled out of possible talks...

About Us

Get yourself immersed in engaging topics right here. Daily World Feed is a multi-platform media, providing you latest breaking news straight from the industry.

Contact us: sales[at]dailyworldfeed.com

Subscribe Now!