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

What's next? NFL sparks new questions with anthem policy

May 24, 2018

ATLANTA — With its popularity threatened and critics stretching all the way to the White House, the NFL just wanted to get past the debate over taking a knee during the national anthem. Put the focus back on football. Instead, the league seemed to muddle the divisive issue even more with a new policy that stirred up defenders of free speech, prompted a couple of owners to quickly backtrack and raised all sorts of potential questions heading into next season. After a tumultuous season, NFL owners wrapped up their spring meeting in Atlanta by announcing Wednesday that players would be...

Bucks' Brown decries 'police intimidation' during arrest

May 24, 2018

MILWAUKEE — The Milwaukee police chief has apologized to Sterling Brown and says officers have been disciplined for acting "inappropriately" after the Bucks player was zapped with a stun gun during his arrest for a parking violation in January. Brown, who is African-American, said in a statement Wednesday that the incident was "an attempt at police intimidation" and that it "shouldn't happen to anybody." Community groups in Milwaukee have criticized police for how they handled Brown. Police Chief Alfonso Morales' apology at a news conference Wednesday came as police released body camera footage that showed how a simple interaction over...

Fired coach Halilhodzic sues Japanese soccer association

May 24, 2018

TOKYO — Former Japan coach Vahid Halilhodzic filed a suit Thursday in Tokyo district court against the Japanese soccer association, saying his firing damaged his honor and reputation. The Bosnian is asking for a written apology from JFA president Kozo Tashima and compensation of 1 yen — about 1 cent. Halilhodzic was fired on April 7, two months before the World Cup in Russia, despite leading Japan to a berth in the tournament. It will be Japan's sixth straight appearance in the World Cup. "This is about defamation," Lionel Vincent, the lawyer for Halilhodzic, told The Associated Press. "It's all...

England wins toss, bats 1st against Pakistan in 1st test

May 24, 2018

LONDON — England has won the toss and chosen to bat first in the first test against Pakistan at Lord's. Pakistan captain Sarfraz Ahmed, who was able to select fast bowler Hasan Ali following a hand injury, said he would have wanted to bowl first anyway under brightening morning skies in northwest London. England captain Joe Root selected paceman Mark Wood over Chris Woakes, who would have been a second all-rounder in the team along with Ben Stokes. Dom Bess, a 20-year-old spinner, will make his debut. ___ Teams: England: Alastair Cook, Mark Stoneman, Joe Root (captain), Dawid Malan, Jonny...

Poorly kept secret: Iniesta joins Japanese club Vissel Kobe

May 24, 2018

TOKYO — Andres Iniesta is, finally, a member of Japanese club Vissel Kobe. The former Barcelona great appeared at a packed news conference at a central Tokyo hotel on Thursday along with billionaire Kobe owner Hiroshi Mikitani. It was hardly a surprise. Iniesta tweeted a photo of himself and Mikitani on his new boss' private jet as the two flew to Tokyo for an announcement that had been expected for weeks. "I'm pleased to announce that Andres Iniesta will be signing up to play with Vissel Kobe after his historic career at Barcelona," Mikitani said. "We look forward to Iniesta...

Get your 24-hour live updates here in Ultimate Sports Daily. We deliver content from all regions so that you won’t miss out on any single event.

Contact us: sales[at]ultimatesportsdaily.com