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

Saudi king, crown prince call slain writer Khashoggi's son

Oct 22, 2018

ISTANBUL — Saudi Crown Prince Mohammed bin Salman called the son of Jamal Khashoggi, the kingdom announced early Monday, to express condolences for the death of the journalist killed at the Saudi Consulate in Istanbul by officials that allegedly included a member of the royal's entourage. King Salman similarly made a condolence call as international pressure on the kingdom continues to rise, even after it acknowledged on Saturday that the Washington Post journalist was killed Oct. 2 at the consulate under still-disputed circumstances. Turkish President Recep Tayyip Erdogan has said that he will "go into detail" about the Khashoggi case...

The Latest: Washington Post publishes new Khashoggi column

Oct 22, 2018

ANKARA, Turkey — The Latest on the disappearance of Saudi writer Jamal Khashoggi, a Washington Post columnist who went missing after entering the Saudi Consulate in Istanbul earlier this month (all times local): 3:45 a.m. The Washington Post has published a new column by Jamal Khashoggi in which he warns that governments in the Middle East "have been given free rein to continue silencing the media at an increasing rate." The Post published the column Wednesday, more than two weeks after Khashoggi was last seen entering the Saudi consulate in Istanbul. Turkish officials say he was killed by Saudi agents....

Pompeo meets with Turkish leaders on missing Saudi writer

Oct 22, 2018

ANKARA, Turkey — A pro-government Turkish newspaper on Wednesday published a gruesome recounting of the alleged slaying of Saudi writer Jamal Khashoggi at the Saudi Consulate in Istanbul, just as America's top diplomat arrived in the country for talks over the Washington Post columnist's disappearance. The report by Yeni Safak adds to the ever-increasing pressure on Saudi Arabia to explain what happened to Khashoggi, who vanished Oct. 2 while visiting the consulate to pick up paperwork he needed to get married. Turkish police officers and crime scene investigators meanwhile arrived Wednesday afternoon to conduct a search of the Saudi consul...

The Latest: IMF's chief Lagarde defers Mideast trip

Oct 22, 2018

ISTANBUL — The latest on the disappearance of a Saudi writer who Turkish officials fear was killed inside the Saudi Consulate in Istanbul (all times local): 6:30 a.m. The International Monetary Fund says its managing director Christine Lagarde is deferring her trip to the Middle East. A brief statement by an unnamed IMF spokesman Wednesday did not elaborate. Lagarde had said earlier during the IMF and World Bank's annual meeting in Bali, Indonesia, last week that she was "horrified" by the disappearance of Saudi journalist Jamal Khashoggi but still intended to attend an investment conference in Saudi Arabia later in...

EgyptAir pulls magazine after Drew Barrymore article

Oct 22, 2018

CAIRO — Egyptian officials say EgyptAir has removed the latest edition of its in-flight magazine over a contentious article it published, purportedly based on an interview with American actress Drew Barrymore. They say the carrier had agreed with its publisher, Al-Ahram advertising agency, to stop printing more copies of the October issue of the magazine, Horus, and pull the ones already placed onboard the fleet's aircraft. The officials spoke on condition of anonymity because they weren't authorized to talk to the media. Earlier this month, EgyptAir said Al-Ahram is to blame for Horus' content and specifically for the Barrymore article,...

About Us

Originally founded in 2015, Voyage Times publishes articles on travel and lifestyle for travelers, leisure seekers, and culture hunters from around the world.

Contact us: sales[at]voyagetimes.com

Subscribe Now!

Quick Links

HomePress