This new gem has particularly caught my eye. I should preface this by saying one of my tech focuses is big data, I really think as an industry big data will continue to boom in the coming years, so I especially love anything to do with a merge between blockchain and big data!
DataBlockchain In Spotlight is a 5 part series which will dig deep into a certain aspect of the DataBlockChain project, beginning with this overview of the project and their vision.
Growing numbers of businesses are currently facing a major emerging problem: the big data problem. Big data is a large set of data that is complex in nature and is often gathered from various data sources; big data can be invaluable, and the industry’s potential massive, but only when the data gathered is accurate.
Big data, although beneficial, has its share of problems. Big data in its current form presents three major problems: the inaccuracy of collected data, the lack of privacy, data security, as well as data abuse and discrimination.
For any business seeking to capture and secure customers, they need accurate customer data. However, with the inaccuracy and the speed at which data is created makes it rather difficult. Hence, most organizations have turned to other avenues in a bid to interpret and effectively use data from reliable data sources.
Certain avenues often include hiring a data analyst or hiring an outside organization to help gather and store their data. Yet, other than the fact that this could end up being costly, as with any solution which is not decentralized, one stands the risk of losing data if the single centralized party is attacked/hacked or if their system is corrupted or broken. This is the situation of the industry which DataBlockChain is trying to resolve with their innovative solution.
The world is slowly waking up to the possibilities of blockchain technology, as increasing numbers of projects apply the benefits of blockchain and smart contracts to traditional systems in an attempt to modernize the industry. Often the results can be revolutionary.
DataBlockChain seek to modernize the data industry and the experience of actors within the space. The platform implements various cutting-edge technologies- including AI and blockchain- providing companies with clear and accurate data, always taken from reliable and current data sources.
DataBlockChain utilize a number of technologies that they are, as a varied and skilled team, effectively implementing to help solve the big data problem. These technologies are not limited to the ones mentioned: Smart Indexing Engine (SIE), the Ethereum blockchain & smart contracts and the DBCWallet.
The above technologies are each tailored to solve a particular problem in the data industry. Take for example the Smart Indexing Engine (SIE); this technology or interface is used to check the validity and reliability and the latest data sources. Ethereum’s network and smart contract will provide secure transactions and payments. DBCWallet is a DataBlockChain invention that acts as a browser extension. With the DBCWallet, you can conveniently store your DBCCoins to purchase Ethers or DataBlockChain services.
Token- DBCCoin
Price- 1 DBCCoin = 0.12 USD
MVP/Prototype- YES
Platform- Ethereum
Accepting- ETH
Soft cap- 10,000,000 USD
Hard cap- 50,000,000 USD
Whitelist/KYC- YES, Both
As previously mentioned, DataBlockChain’s service in a nutshell is to provide accurate data from reliable data sources to companies that need them, in the most secure and efficient way pssible. DataBlockChain utilize blockchain and smart contract technology in order to operate on the values of transparency and accountability, and therefore ensure high levels of security for all the transactions carried out via the DataBlockChain platform.
DataBlockChain’s overall vision is grand: to revolutionise the big data industry, and to offer an innovative solution which overcomes the security, accuracy and efficiency related problems of the traditional big data space.
DataBlockChain have a potentially game-changing vision and has particularly caught my eye as a project to watch at the moment. Therefore, during the five part DataBlockChain In Spotlight series we will be exploring in detail aspects of the project: DataBlockChain’s use of blockchain technology; Effective solutions to the big data problem; Technologies utilized by DataBlockChain; and closer look at the team.
A marriage between big data and blockchain is potentially massively disruptive and definitely deserves watching.
Website: http://www.dbc.io?utm_source={steemit.com/@thirst4knowledge}&utm_medium=article&utm_campaign=bounty
Telegram:
https://t.me/dbcio
https://t.me/joinchat/Ho-YFg8O26hIutf7R8A8BA
Disclaimer: this is not financial advice, just my personal opinion and findings based upon research.
