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

World markets unnerved by Turkey's financial turmoil

Aug 14, 2018

BANGKOK — World stock markets fell Friday, particularly in Europe, as investors worried about the financial stability of Turkey, where the currency has nosedived. KEEPING SCORE: Germany's DAX fell 1.7 percent to 12,466 and the CAC 40 in France fell 1.2 percent to 5,436. Britain's FTSE 100 sank 0.6 percent to 7,692. The future contract for the Dow Jones industrial average was down 0.4 percent and the contract for the S&P 500 lost 0.5 percent. ASIA'S DAY: Japan's Nikkei 225 index lost 1.3 percent to 22,298.08 and Hong Kong's Hang Seng gave up 0.8 percent to 28,366.62. The Shanghai Composite...

Asian shares slip despite upbeat Japanese economic data

Aug 14, 2018

BANGKOK — Shares were lower in Asia on Friday, tracking losses on Wall Street, despite the release of data showing Japan's economy resumed its longtime expansion in the last quarter. KEEPING SCORE: Japan's Nikkei 225 index lost 0.7 percent 22,444.10 and Hong Kong's Hang Seng gave up 0.5 percent to 28,473.94. The Shanghai Composite index fell 0.1 percent to 2,790.53 and Australia's S&P ASX 200 declined 0.2 percent to 6,287.70. India's Sensex fell 0.2 percent to 37,944.19. Shares were lower in Taiwan, Thailand and Singapore but rose in Indonesia. JAPAN GDP: The economy expanded at a 1.9 percent annual pace...

Thai monk who flew in high style gets prison for fraud

Aug 14, 2018

BANGKOK — A former Buddhist monk who became infamous for a jet-set lifestyle has been sentenced to more than 100 years in prison in connection with funds he raised from followers. Wirapol Sukphol appeared in 2013 on a YouTube video in his monk's robe aboard a private jet with a Louis Vuitton carry-on and wearing aviator sunglasses. He was also accused of sexual peccadilloes, and fled to the United States, from where he was extradited last year. The Ratchada Criminal Court in Bangkok sentenced him Thursday to 114 years in prison for fraud, money laundering and violation of the computer...

Boys rescued from cave, once stateless, get Thai citizenship

Aug 14, 2018

BANGKOK — Three young soccer players and their coach, who were rescued with other teammates after almost three weeks in a flooded cave, were granted Thai citizenship on Wednesday. All four had been stateless, and their lack of citizenship deprived them of some basic benefits and rights, including the ability to travel outside of Chiang Rai, the northern province where they live. The area is home to ethnic minorities with roots in neighboring Myanmar. In all, 12 boys and their 25-year-old coach were trapped by the flooding until their dramatic rescue by Thai navy SEALs and other experienced divers that...

Asian shares mixed after new US tariffs put on China exports

Aug 14, 2018

BANGKOK — Shares were mostly higher in Asia on Wednesday after the U.S. followed through with plans to put higher tariffs on $16 billion in Chinese exports. KEEPING SCORE: Japan's Nikkei 225 index gained 0.4 percent to 22,749.27 and the Shanghai Composite index fell 0.3 percent to 2,770.49. Hong Kong's Hang Seng index added 0.4 percent to 28,368.84. Australia's S&P ASX 200 climbed 0.3 percent to 6,275.00 while South Korea's Kospi added 0.3 percent to 2,307.59. Shares were mostly higher in Southeast Asia. WALL STREET: Earnings helped drive the fourth straight day of gains, led by industrial companies and banks....

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