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What does Blockchain mean for Data Science?
Transcript of What does Blockchain mean for Data Science?
Source: World Economic Forum Survey (2015)
Why is it important?
What is Blockchain?
A business network
- market participants
- replicated and permissioned
- self fulfilled contracts
- 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
Automatic contract fulfillment
all information will sit on a cryptographic blockchain, which means that nobody will be able to access the information
A limitation of throughput to 7 transactions per second
Block size and countering vulnerability to 51 percent mining attacks
Impact on other areas?
Anonymity and security
To use or not to use?
Disintermediation and robustness? Or confidentiality and performance?
Opportunities and threats for analytics