Big Data and Blockchain Nexus

Big data need huge storage capacity. This is one concern of big data. Companies are working on it, and the storage capacity is increasing steadily. The other big problems for big data are the regular data scandals in the industry. Data breaches are the real big concerns. No business can accept losing of customer data. Companies failing to protect customers' data privacy can attract heavy fine and punitive actions by the data regulatory boards such as GDPR. So the priority of data companies has shifted to data security and privacy protection.

A solid data security strategy may help solving the data breaches

Data companies dealing with FinTech data are already having security enabled client logins. People are offered two layer security, one pass phrase and one time pin or OTP through SMS for every transaction. But all these services are done through central servers where all the data and security pass codes are stored / processed. That is how the clients get a password recovery help from these central servers. Once the data hackers break administrative security pass phrases of these central computing machines, the entire private data are leaked into the hands of the hackers. The problem is faced by all client service providers on the Internet, including the non FinTech applications such as webmails, electronic health records, social media etc.

Decentralization of the data may offer an improved security and privacy

The problem of data security may be tackled by adopting decentralization of data transactions over distributed computing systems. Blockchains and other distributed ledgers can help doing the job. Therefore, data scientists may have to rely on blockchain to authenticate and track data at each and every point on the data chain. The immutability of the ledgers are the main advantage that drives its adoption by the data industry. The decentralized distributed ledgers protect data privacy through multiple partial signatures thereby preventing data leaks and hacks.

Blockchain and distributed ledger technology can empower big data

Let us discuss more to make it clear why the nexus between blockchain and big data can improve big data integrity. Firstly, blockchain and all other distributed ledgers utilize complex mathematical algorithms to encrypt all transactions which exist as irreversible digital contracts between the two entities (humans and / or machines). Secondly, when the decentralized distributed ledger is used to track the authenticity of the data, it is linked to a particular block with a specific cryptographic key. The authenticity of the data may be checked by the data manager / client by using the right cryptographic key. This helps to verify the data quality.

Blockchain adoption in data science can improve big data integrity

Data science is evolving everyday. It has yet to solve the problems of data security and privacy. Blockchain and other distributed ledgers are paving down robust security avenues which are all set to help solving the security issues of data science. Although distributed ledger technologies are still nascent, the preliminary experiments carried out by the top tier tech R&D companies, such as IBM are quite positive and encouraging. The future is bright for big data with distributed ledger technologies.

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More of my articles on Blockchain and Distributed Ledger Technology:

• Decentralized Digital Identity: Which Distributed Ledger is Most Viable?
• Why Security Experts Dislike "Blockchain Voting"?
• Why doesn’t #LinkedIn have a featured tag for #blockchain? Any thoughts? [after publication of this article, now a hashtag exists]
• Scalability is a Key requirement for Blockchain and other Distributed Ledgers to Succeed
• Distributed Ledger is the Future
• Decentralized Biometrics: Is It the Ultimate Solution?
• Hyperledger and LinuxOne: A Superior Blockchain Solution for Business
• Scalable Distributed Ledger: That is very much wanted
• Is Blockchain Ready for GDPR?
• Bitcoin Grows but Energy Decreases
• Greed-Driven Digital Wealth

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I am an academician and researcher of electronics and applied photonics. My current research focuses on Biometric Security and Privacy Protection. My friend Jose Munoz Mata and myself are testing distributed ledger technology for decentralized biometrics and other real world applications. Send direct message for any business inquiry.

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