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

More News From The World Insiders

Biden, in public and private, tiptoes toward a 2020 run

Feb 18, 2018

WASHINGTON — Former Vice President Joe Biden is tiptoeing toward a potential presidential run in 2020, even broaching the possibility during a recent gathering of longtime foreign policy aides. Huddled in his newly opened office steps from the U.S. Capitol, Biden began a planning meeting for his new diplomacy center by addressing the elephant in the room. He said he was keeping his 2020 options open, considering it a real possibility. He insisted he had made no decision, and didn't need to yet, according to five people who either attended the meeting or were briefed on it by those who...

Legendary climber Jim Bridwell dies at 73

Feb 18, 2018

PALM DESERT, Calif. — Jim Bridwell, a hard-partying hippie and legendary climber who lived his life vertically on some of the toughest peaks in Yosemite National Park, has died. He was 73. Bridwell died Friday morning at a hospital. He had liver and kidney failure from hepatitis C that he may have contracted in the 1980s when he got a tattoo from a headhunting tribe in Borneo, his wife, Peggy Bridwell of Palm Desert, told The Associated Press on Saturday. The flamboyant Bridwell was idolized by some and labelled reckless by others, but no one disputed his sheer skill on...

Florida, angry and grieving, takes gun protest to streets

Feb 18, 2018

PARKLAND, Fla. — Thousands of angry students, parents, teachers and neighbors of a Florida high school where 17 people were killed demanded Saturday that immediate action be taken on gun-control legislation, insisting they would not relent until their demands were met. The rally in downtown Fort Lauderdale gave a political outlet to the growing feelings of rage and mourning sparked by the carnage at Marjory Stoneman Douglas High School. Authorities say a former student who had been expelled, had mental health issues and been reported to law enforcement, used a legally purchased semi-automatic rifle to kill students and staff. "Because...

Russian election plot touched even minor Trump supporters

Feb 18, 2018

WEST PALM BEACH, Fla. — The request was simple: organize or attend a sign-waving rally supporting Donald Trump. But some of the Florida Republicans on the receiving end of those requests now know that they didn't come from Republican allies, but from Russian adversaries. Caught up in an elaborate Russian plot without their knowledge, a handful of these small-time Trump supporters said their votes were not swayed and they didn't do anything they weren't happy to do. Still, their interactions with the Russians highlight the ways, both big and small, that the nation's campaign process was infiltrated. "I was going...

The Latest: Second gun-control rally held in Florida

Feb 18, 2018

PARKLAND, Fla. — The Latest on the school shooting that killed 17 people in Florida (all times local): 7:25 p.m. Four hours from the Florida high school where 17 people were shot and killed, hundreds of people gathered in a park to rally against gun violence and call for stricter gun laws. People lit candles in memory of the Parkland victims at the demonstration Saturday night in St. Petersburg, on Florida's Gulf Coast. They called for legislative action on the state and federal level to end gun violence. It comes as thousands of students, parents, teachers and neighbors held signs...

About Us

The World Insiders brings you exclusive coverage from across the globe in a timely, easy to consume format sourced directly from our regional media partners.

Contact us: sales@theworldinsiders.com

Subscribe Now!