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 Thailand Tribunal

Thai police probe suspected illegal e-waste recycling

May 28, 2018

BANGKOK — Thai police have raided several factories near Bangkok that allegedly were using a loophole to illegally import and process electronic waste. Police and industry ministry officials said Friday that they were still investigating after raids this week on at least four factories in industrial parks in the outskirts of the capital that found nearly 100 tons of electronic waste such as discarded computers, computer display screens, old mobile phones and other items. "These factories have not received permission to operate and will be closed pending further investigation into the cases," said Weerakit Runthakithanarat, a ministry official in Chachoengsao...

Global stocks subdued as US mulls auto import tariffs

May 28, 2018

BANGKOK — World stock markets were subdued Thursday as carmakers' shares fell after the Trump administration said it was investigating imposing new tariffs on imports of autos and auto parts. KEEPING SCORE: Germany's DAX was flat at 12,975 and the CAC 40 in France rose 0.4 percent to 5,589. The FTSE 100 in Britain was down 0.1 percent at 7,782. Futures for the S&P 500 were flat while the Dow futures edged down less than 0.1 percent. TRUMP ON TRADE: China, Japan and the European Union condemned the Trump administration's decision to launch an investigation into whether tariffs are needed...

Thai court grants bail to detained pro-democracy activists

May 28, 2018

BANGKOK — A court in Thailand granted bail Thursday to 15 pro-democracy activists who were arrested earlier this week during a protest against military rule at which several thousand police were deployed. Krisadang Nutjaras, a lawyer for the student activists, told reporters they applied for bail after the court agreed to a police request for a further 12 days' detention. It was set at 100,000 baht ($3,100) for each person, he said. Police have charged each activist with several offenses, including violating a ban on political assembly and obstructing officials. They are required to report back to authorities in eight...

Asian shares mixed after Fed gives Wall Street a boost

May 28, 2018

BANGKOK — Shares were mixed in Asia on Thursday after U.S. stocks reversed early losses and finished higher as investors appraised the Federal Reserve's signal that it is not in a hurry to raise interest rates. KEEPING SCORE: Japan's Nikkei 225 index fell 1.2 percent to 22,418.18 and the Kospi in South Korea slipped 0.3 percent to 2,464.74. Australia's S&P ASX 200 gave up 0.2 percent to 6,021.60 and the Shanghai Composite index was down less than 0.1 percent at 3,167.83. Shares rose in Indonesia, Taiwan and Singapore but fell in Thailand. WALL STREET: Shares recovered from early losses after...

Thailand to up controls on paraquat, other farm chemicals

May 28, 2018

BANGKOK — The Thai government said Wednesday it will allow continued use of the toxic weed killer paraquat and two other farm chemicals despite mounting concerns over health risks, but plans to tighten controls on how they are utilized. The expert Committee on Hazardous Substances Control asked the Department of Agriculture to come up with new guidelines within two months, Somboon Yindeeyoungyuen, deputy permanent secretary of the Ministry of Industry, told reporters. "The committee gave many recommendations and ideas to the DOA to consider, for example, allowing only registered sprayers to use herbicides, training farmers on safety measures, restrictions on...

About Us

Thailand Tribunal is the country’s next generation of digital news portal, bringing you non-stop news on the happenings in the country and all over the world.

Contact us: sales[at]thailandtribunal.com