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The Future Impact of Blockchain on Big Data- Assignment

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Added on  2021-06-18

The Future Impact of Blockchain on Big Data- Assignment

   Added on 2021-06-18

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1THE FUTURE IMPACT OF BLOCKCHAIN ON BIG DATAName of the studentSubject Name:Date:
The Future Impact of Blockchain on Big Data- Assignment_1
2IntroductionBlockchain remains to be the system of the distributed database that acts as the “open ledger” used for storing and managing different transactions in business operations. Every recordwithin the database refers to as the block, and it comprises of details such as the transaction timestamp along with the link to the previous block1. Such operations make blockchain to be impossible for every individual to alter information concerning the records retrospectively. Blockchain that comprises of immutable, decentralization and encrypted ledger has the potential of making every centralized process, organization, along with activity fully autonomous. Besides, Blockchain has several impacts on Big Data some of these effects include the elimination of trusted third parties, increasing usage of cloud, and it will make Big Data go awayfrom the world of information technology2. Therefore, primary target of this research paperwork is to examine some of the future impacts of blockchain on big data.Future impacts of blockchain on Big DataThe future effects of blockchain or the technology of trust in big data of different organization are that it is still very much focused on what it can do or what it means. It will improve the cross-border payments as blockchain networks will be present in the increasing number of large organizations3. The use of blockchain remains to be the next phase of the 1 Harper, Jelani. 2017. "The new face of big data: AI, IoT and blockchain." KM World 26, no. 1: 16-18. Academic Search Premier, EBSCOhost (accessed May 16, 2018).2 Lewis, Rebecca, John W. McPartland, and Rajeev Ranjan. 2017. "Blockchain and Financial Market Innovation." Economic Perspectives 41, no. 7: 1-17. Academic Search Premier, EBSCOhost (accessed May 16, 2018).3Adoma, F. 2018. Big Data, Machine Learning and the BlockChain Technology: An Overview. International Journal Of Computer Applications, 180(28), 1-4. doi: 10.5120/ijca2018916674
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3internet. It will enable all people along with all web associated gadgets to speak with each other and also share and reuse bi information in various structures crosswise over different applications and associations continuously. The improvement in blockchain usages will make bigdata to take full points of interest of the semantic web, and it will have huge effect on society along with organization4. Additionally, blockchain will make future data to be about the merging of information, processing, together with systems instead of focusing only on a single element of converging data. Through the use of blockchain, huge information will center around the union of the registering and systems while the procedure of merging of enormous information will empower examination to be performed straightforwardly on Exabyte of crude information. The procedure will then encourage impromptu inquiries to be asked on to great degree enormous sets of big data.Blockchain will make big data to become bigger that will result in the emergence of brontobytes that remain to be standard language in different boardrooms. The chain will impact the storage of big data as their capacity will turn out to be generally available as well as cheaper while keeping in mind result of adapting usage of bid information. The foundation of brontobytes by blockchain will remain as basic in different places that will later make big information to disappear again, while big information will result to be simply information resurface. Therefore, through improvement of blockchain, ultimate chance of data stays to be doubtful. The thought comes about on the grounds that the time of enormous information is as yet unfurling, yet it stays apparent that distinctive changes in front of future society will help in 4Fredriksson, C. 2018. Big data creating new knowledge as support in decision-making: practical examples of big data use and consequences of using big data as decision support. Journal Of Decision Systems, 1-18. doi: 10.1080/12460125.2018.1459068
The Future Impact of Blockchain on Big Data- Assignment_3

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