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What does Blockchain mean for Data Science?

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by

Paulina Figol

on 28 November 2016

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Transcript of What does Blockchain mean for Data Science?

What does Blockchain mean for Data Science?
Paulina Figol
Key concepts:
Source: World Economic Forum Survey (2015)
Why is it important?
What is Blockchain?
Digital
apple?
A business network
- market participants
Shared ledger
- replicated and permissioned
Smart contracts
- self fulfilled contracts
Consensus
- exact copies, lowers risk
Privacy and confidentiality
- public and private keys
What is the difference between Blockchain and a traditional database?

Big Data and predictive modeling implications
Reactive-to-predictive transformation

Automatic contract fulfillment

Consensus data

Smart data
Big Data!
Limitations?
La Zooz:
all information will sit on a cryptographic blockchain, which means that nobody will be able to access the information
Other:

A limitation of throughput to 7 transactions per second

Block size and countering vulnerability to 51 percent mining attacks

Solution?
Disintermediation

Confidentiality

Robustness

Performance
Impact on other areas?

Summary
Disruptive innovation

Technological compromise
Anonymity and security

To use or not to use?
Disintermediation and robustness? Or confidentiality and performance?

Opportunities and threats for analytics
Full transcript