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

More News From malaysiacorner.com

Scandal-hit Malaysian PM calls elections, expected in May

Apr 22, 2018

KUALA LUMPUR, Malaysia — Malaysia's scandal-tainted prime minister announced Friday that Parliament will be dissolved to pave the way for general elections, expected to be held next month that will pit his long-ruling coalition with a revived opposition led by former strongman Mahathir Mohamad. The polls are seen as a test of survival for Prime Minister Najib Razak, who is widely expected to win but under pressure to improve the performance of his National Front coalition after support eroded in the last two elections. Mahathir, Asia's longest-serving premier for 22 years before he retired in 2003, turned against his protege...

Malaysia cuts proposed penalty for fake news to 6 years

Apr 22, 2018

KUALA LUMPUR, Malaysia — Malaysia's government cut the proposed punishment in a bill prohibiting fake news from 10 to six years in prison on Thursday following an outcry from rights groups and opposition lawmakers who say it aims to silence dissent ahead of a general election. The anti-fake news bill, presented in parliament on Monday, is being debated by lawmakers and is expected to be approved next week. In addition to imprisonment, it also calls for a fine of up to 500,000 ringgit ($128,000). Azalina Othman, minister in charge of law, said the government decided to reduce the prison term...

Malaysia's push to outlaw fake news, jail offenders decried

Apr 22, 2018

KUALA LUMPUR, Malaysia — Malaysia's government proposed new legislation Monday to outlaw fake news and punish offenders with a 10-year jail sentence, a move slammed as an attempt to silence dissent ahead of a general election. Prime Minister Najib Razak has been dogged by a multibillion-dollar corruption scandal involving an indebted state fund, and rights activists fear the new law could be used to criminalize news reports and critical opinions on government misconduct. A general election must be held by August but is widely expected in the next few weeks. The anti-fake news bill, which must be approved by parliament,...

Malaysia opposition pledges to axe tax, investigate scandal

Apr 22, 2018

SHAH ALAM, Malaysia — Malaysia's opposition coalition has pledged to axe an unpopular good and services tax and reopen investigations into a multibillion-dollar financial scandal linked to Prime Minister Najib Razak if it wins the next elections. The Hope Alliance, led by former Prime Minister Mahathir Mohamad, also promised to clip the powers of the prime minister, revive fuel subsidies and a slew of economic reforms as part of its manifesto for polls due by August but widely expected in the second quarter. In announcing the coalition's manifesto late Thursday, Mahathir said the opposition has been labelled "government-in-waiting" as he...

Malaysian rapper's dog video sparks claim of insulting Islam

Apr 22, 2018

KUALA LUMPUR, Malaysia — Malaysian police said a popular ethnic Chinese rapper has been detained over complaints that his latest music video featuring dancers wearing dog masks and performing "obscene" moves insulted Islam and could hurt racial harmony. It was the second time in two years that Wee Meng Chee, popularly known as Namewee, has been investigated over his music videos. Police said in a statement that Wee was detained Thursday after they received four public complaints that his video marking the Chinese year of the dog had "insulted Islam and could negatively impact racial unity and harmony." In the...

Weather, 20 December
Houston Weather
+7

High: +11° Low: -2°

Humidity: 83%

Wind: NNE - 7 KPH

Canberra Weather
+27

High: +27° Low: +17°

Humidity: 87%

Wind: W - 20 KPH

Roissy-en-France Weather
+6

High: +6° Low: -5°

Humidity: 87%

Wind: ENE - 7 KPH

Florence Weather
+9

High: +9° Low: +6°

Humidity: 97%

Wind: ENE - 17 KPH

Parga Weather
+7

High: +16° Low: +4°

Humidity: 100%

Wind: SE - 25 KPH

About Us

In Malaysia Corner, we’re here to bring back those days where you can still catch up with everyday news no matter which corner you are at.

Contact us: sales[at]malaysiacorner.com