We can think, from their different approaches to data, that Blockchain & Data Science are purely independent disciplines. While the Blockchain is currently in full emergence, especially with the global craze around cryptocurrencies, Data science is an already well-established technology. However, these two innovations, which are making it possible to revolutionize the world of work
We can think, from their different approaches to data, that Blockchain & Data Science are purely independent disciplines. While the Blockchain is currently in full emergence, especially with the global craze around cryptocurrencies, Data science is an already well-established technology.
However, these two innovations, which are making it possible to revolutionize the world of work and the relationship between humans and technology, are not that far apart. We will see it in more detail in this article.
The Blockchain, which was born with the famous Bitcoin, is an open-source technology that allows information to be stored and transmitted in a transparent and decentralized manner.
Each block in this chain represents a transaction, monetized by a programmable currency (or token), and controlled by miners using various methods.
The interdependence of each block and the decentralized nature of the blockchain provide:
very high security,
and authenticity to the data stored there.
These aspects can enable data scientists not only to securely store their data on the blockchain, but also to access authentic, secure, and abundant data.
Let’s discover 4 projects illustrating a joint use of blockchain technology and data science:
Storj, a decentralized cloud company, is an example of a project to store and access huge amounts of data at a low cost. The company offers a network of individuals making available an unused part of their hard drives to store data for remuneration via their token based on the ETHEREUM network: the STORJ.
Due to the large available storage space (100 petabytes) and the low costs offered, Storj presents itself as a very serious alternative to centralized cloud services, such as AWS, for data scientists. The relocation of data on the blockchain gives them very high security and reliability.
Datum also offers a decentralized storage network, using the DAT (Data Access Token) cryptocurrency. Users can monetize their data, secure it and anonymize it. The high security afforded by this platform, along with attractive pricing, also allows data scientists to bypass larger data vendors such as Facebook, whose data usage policies can be obscure.
Rublix offers a platform that connects investors and verifies their reputation and relevance. Statisticians and data scientists from the platform provide statistics on the cryptocurrency market and develop predictive analysis algorithms to forecast market trends and developments, which is a major advantage compared to other trading platforms.
Traders on the platform publish their predictions in the form of “smart contracts”, and monetize the exchanges via the RBLX cryptocurrency (Rublix).
The startup Omnilytics combines the benefits of blockchain and big data to offer its partners (e-commerce platforms) an analysis and decision support tool to perfect their platform. Omnilytics capitalizes on the blockchain to provide authentic, cleaned, and real-time data. It gives its customers a very high degree of leeway.
These emerging projects make it possible to bridge the gap between two technologies that will continue to revolutionize our lives in the years to come. This combination helps ensure more resources, security, reliability, and speed for all users.