Can Big Data and Blockchain work together

Can Big Data and Blockchain work together

Bitbaazi

The use case scenarios for blockchain technology seem to be never-ending.

From Ethereum platforms like Supply chain looking to fundamentally disrupt manner in which the world tracks transportation and coordinations data, to individuals gathering new-age Neopets as collectable CryptoKitties, the start of the blockchain transformation has just began. Each industry on the planet is currently addressing whether the blockchain will be its most prominent resource or greatest threat - and organizations are rapidly moving into the space, filled by a dread of missing the "next big thing."

One of those industries, specifically, is web analytics and big data.

The growth of the big data has shown a slew of issues for both big businesses and everyday consumers. Most companies especially from healthcare to entertainment to advertising, marketing and beyond have become more aware of every digital nuance: the way their website functions, how quick consumers can deport their products, and even how vulnerable they are to a hack or data breach. And as seen with the Sony hack, those kinds of events can be fatal.

Where the interchange of Blockchain and big data has the most prospective is in the quality of the information being hold. If there is a sweet spot for Blockchain, it will likely be the ability to change insights and questions into assets. Blockchains going to provide us greater reliance in the integrity of the data we see. Irreversible entries, consensus – driven timestamping, audit trails, and assurance about the origin of data are all areas where we would see development as blockchain technology becomes more mainstream.

What this means is the data being captured by big businesses will become far more valuable--since it's being captured and validated on the blockchain?

Supply chain is one of numerous blockchain platforms hoping to benefit from the enormous requirement for organizations to improve the informational collections they examine and influence for their items and administrations. As mentioned above, the real value of data on the blockchain is the quality of information and how it is put on the open ledger. Platforms like Path, then, become the new-age mediators among organizations and the clients they need to more readily reach.

What's intriguing about the blockchain revolution is the energy behind uninvolved projects that utilize unused power, memory, and so on, for the improvement of another kind of service. It's the 2.0 variant of the sharing economy- - fundamentally the same as how Uber utilized individuals' vehicles without expecting to "possess" any of the advantages themselves. Web analytics is only one model. Another is Golem, referred to as "a decentralized supercomputer that anybody can get to. It is comprised of the consolidated intensity of clients' machines- - from PCs to data centers." For the situation of Golem, you have a common economy of computing power, making the aggregate a lot more solid than the sum of its parts.

With more and more of these passive blockchain platforms looking to operate in the background, the amount of quality big data and subsequent analytics are going to drastically impact the way companies do business all around the world.