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

Plastic waste washes up on Australia's distant shores, rings change at the checkout

Jun 21, 2018

By Jill GralowSYDNEY (Reuters) - On the palm-fringed beaches of Christmas Island, a speck of land in the Indian Ocean between Australia and Indonesia, plastic waste is piling up on the white sand and killing marine life.Flotsam and jetsam, especially plastic bags and one-use containers, cover the shoreline of the Australian island. Volunteers recently collected 1.5 tonnes of waste in just a few days.The scene illustrates growing concerns about the environmental damage from rising amounts of plastic waste globally."People really need to understand that an item that they've used can cause so much harm in the environment," said Heidi Taylor,...

New Zealand Prime Minister Ardern gives birth to baby girl

Jun 21, 2018

By Charlotte GreenfieldWELLINGTON (Reuters) - New Zealand Prime Minister Jacinda Ardern gave birth to her first child, a girl, on Thursday, Ardern said in a posting on Instagram.Ardern, 37, became New Zealand's youngest prime minister when she took office through a coalition deal last year after an inconclusive election, and now becomes the first woman in the country's history to give birth while in office."Welcome to our village wee one," Ardern wrote on Instagram."Feeling very lucky to have a healthy baby girl that arrived at 4.45 pm weighing 3.31 kg (7.3 lb) ... We're all doing really well thanks to...

U.S. withdrawal leaves vacuum at U.N. rights forum

Jun 21, 2018

By Stephanie NebehayGENEVA (Reuters) - China, Britain and the European Union lamented on Wednesday Washington's decision to withdraw from the U.N. Human Rights Council as Western countries began looking for a substitute for the coveted seat. The United States withdrew on Tuesday from what it called the "hypocritical and self-serving" forum over what it called chronic bias against its close ally Israel and a lack of reform after a year of negotiations.Washington's retreat - officially notified to the world body on Wednesday - is the latest U.S. rejection of multilateral engagement after it pulled out of the Paris climate agreement...

EU says tax on Harleys aimed to 'make noise' in trade debate

Jun 21, 2018

WELLINGTON, New Zealand — European Union Trade Commissioner Cecilia Malmstrom said Thursday that the grouping has targeted some iconic American imports like Harley-Davidson motorcycles and bourbon for tariffs in hopes that it will "make noise" and put pressure on U.S. leaders amid a trade dispute. The EU announced this week it would begin taxing U.S. imports worth about $3.4 billion from Friday, in response to U.S. President Donald Trump's decision to put tariffs on European steel and aluminum. Other goods the EU will tax include jeans, peanut butter, orange juice and cranberries. During an interview in New Zealand, where she...

New Zealand leader welcomes newborn girl 'to our village'

Jun 21, 2018

WELLINGTON, New Zealand — New Zealand Prime Minister Jacinda Ardern gave birth to a daughter Thursday and posted a message welcoming the healthy newborn "to our village." She is the second elected world leader to give birth while holding office after late Pakistan Prime Minister Benazir Bhutto, who gave birth to daughter Bakhtawar in 1990. Ardern distributed a photo showing her and partner Clarke Gayford with the baby at Auckland City Hospital. The girl arrived at 4:45 p.m. weighing 3.3 kilograms (7.3 pounds). "Welcome to our village wee one," Ardern wrote in the caption on Instagram. "Feeling very lucky to...

Stock Markets

About Us

The Morning Herald is a fast news provider in the United States since 2005. Fiercely independent and armed with irreverent intelligence, there’s no other place to get your news other than The Morning Herald.

Contact us: sales[at]themorningherald.com

Subscribe Now!