HOW BLOCKCHAIN AND BIG DATA COMPLEMENT EACH OTHER?

Blockchain and big data are two technologies in full swing, but they are also two parallel technologies. In a decade, the blockchain is becoming the heart of computer technologies. Blockchain is a cryptographically secure distributed database technology for storing and transmitting information. Every record in the database is called a block and contains details such as the transaction date and a link to the previous block. The main advantage of the blockchain is that it is a decentralized system.

Data Quality and Privacy

In big data technology, a large amount of data is generated daily;analyzing and making use of this huge amount of information is the top priority for all kinds of businesses. However, the most important problem that hinders the unanimous adoption of big data is the lack of security and privacy protection.

The increase in the use of big data on the internet has led to the explosive growth of data size. However, the trust issue has become one of the biggest problems of big data, leading to the difficulty in safe data circulation and industry development. The blockchain technology provides a solution to this problem by combining nontampering, traceable features with smart contracts that automatically execute default instructions [10].

Cryptocurrency such as Bitcoin, Ethereum, and the blockchain can support any type of digitized information; this is why it is possible to use it in the field of big data, especially to increase the security or the quality of the data.

For example, a hospital can use it to ensure that patient data is kept safe, up-to-date and that its quality is fully conserved. By storing health databases on the blockchain, hospitals ensure that all its employees will have access to a single, unchangeable source of data as shown in Figure 5.5.

Certainly, poor data management in the health care environment carries a risk that the patient may be mishandled, misdiagnosed, or the results of their tests may be lost or corrupted. Similarly, two physicians who are examining the same patient may have access to two different sets of data. The blockchain eliminates the risk [11].

Data Transparency and Automation

Blockchain is a new filing system for digital information, which stores data in an encrypted, distributed ledger format. This is because data is encrypted and distributed

Hospital management system

FIGURE 5.5 Hospital management system.

over many different computers, it enables the creation of tamper-proof, highly robust databases that can be read and updated only by those with permission [12].

The use of the blockchain also raises issues of confidentiality, in direct contradiction to why this technology originally became popular. Several experts are concerned that transaction records may be exploited to build consumer profiles or other misuses. However, blockchain enhances the data transparency, if an entry cannot be verified, it is automatically rejected. The data is therefore completely data transparent. Other experts are also concerned about the impact of blockchain and big data on the environment.

Blockchain along with big data technology helps in prevent possible data leaks. Once the information is stored in the channel, even the most senior managers of the company will require multiple permissions from other points in the network to access the data [13]. It is therefore nearly impossible for a cybercriminal to seize it. The blockchain also allows sharing data more serenely. By using the example of the hospital, an institution may need to share health data with the courts, with insurance companies, or with the employers of a patient. However, without the blockchain technology, this procedure can present risks.

Blockchain can help us track, understand and explain decisions made by artificial intelligence (AI). Artificial Intelligences based decisions can sometimes be hard for humans to understand because they are capable of assessing a large number of variables independently of each other and extracting the ones that are important to the overall task it is trying to achieve.

As an example, AI algorithms are expected to frequently be used in making decisions regarding whether financial transactions are fraudulent, and should be blocked or investigated. Even sometimes it is necessary to have these decisions audited for accuracy by humans. And given the huge amount of data that can be taken into consideration, this becomes a complex task. For example, Walmart feeds a month’s worth of transactional data across all of its stores into its AI systems, which make decisions on what products should be stocked and where. If the decisions are recorded on a point-by-point basis, on a blockchain, it makes it far simpler for them to be audited, with the confidence that the record has not been tampered with between the information being recorded and the start of the audit process.

 
Source
< Prev   CONTENTS   Source   Next >