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

UN humanitarian chief: 8.4 million Yemenis need urgent aid

Oct 23, 2018

UNITED NATIONS — The U.N. humanitarian chief says the conflict in Yemen has left 8.4 million people dependent on emergency food assistance and 75 percent of its 22 million people requiring some form of aid. Mark Lowcock warns in an analysis obtained Monday night by The Associated Press that humanitarian officials "estimate that 3.5 million to 4 million more people could become severely food insecure in the months ahead." The analysis, which is to be the subject of a briefing to the Security Council on Tuesday, says 3 million Yemenis are malnourished, including 1.1 million pregnant women "and more than...

Bible Museum admits some of its Dead Sea Scrolls are fake

Oct 23, 2018

WASHINGTON — When Washington's $500 million Museum of the Bible held its grand opening in November 2017, attended by Vice President Mike Pence, there were questions even then about the authenticity of its centerpiece collection of Dead Sea Scrolls. Now the museum has been forced to admit a painful truth: Technical analysis by a team of German scholars has revealed that at least five of the museum's 16 scroll fragments are apparent forgeries. The announcement has serious implications not only for the Bible Museum but for other evangelical Christian individuals and institutions who paid top dollar for what now seems...

Gilberto Benetton, a founder of fashion brand, dies at 77

Oct 23, 2018

MILAN — Gilberto Benetton, one of the four founding siblings of the iconic Benetton fashion brand known as much for its provocative ad campaigns as its colorful knitwear, died Monday evening at age 77, his family announced. The family said Benetton's wife, Lalla, two daughters, Barbara and Sabrina, and son-in-law Ermanno were by his side at his home in the northern city of Treviso, near where the fashion company is based. The news agency ANSA said he had suffered an undisclosed illness. . Gilberto, along with siblings Carlo, Luciano and Giuliana, founded Benetton as knitwear company in 1965, transforming it...

Nevada Republicans whip up fears of California's influence

Oct 23, 2018

LAS VEGAS — The Republicans running in Nevada's hotly contested races for governor and U.S. Senate are taking aim at a common target as they try to maintain GOP control of the seats: California. As more Californians have poured across the state line over the past few years, many of them escaping sky-high housing costs, some Nevada Republicans fear a state that already has become a political battleground will begin to resemble its deep blue neighbor. GOP candidates are appealing to conservative voters with warnings about life in California: sanctuary cities, crippling business regulations, out-of-control housing prices and a worsening...

Bruce Dern released from hospital after fall while jogging

Oct 23, 2018

LOS ANGELES — Actor Bruce Dern has been released from the hospital after a fall during his daily jog in Los Angeles. A representative for the 82-year-old Dern says he was released Friday evening following his fall earlier in the day. The Oscar-nominated actor's representative says he is in good spirits. No further details were released. Dern starred in the 2013 film "Nebraska" as the character Woodrow T. "Woody" Grant, earning him an Academy Award nomination for best actor. He also played in films "Coming Home," ''The Hateful Eight," ''Black Sunday" and "White Boy Rick." His representative says Dern just...

Life Ponds publishes travel and lifestyle on a daily basis. We believe that Life Ponds will help to solve your problems every time you face a challenge.

Contact us: sales@lifeponds.com