It is always said that two is better than one and three is better than two. And when it comes to Big Data, IoT, and blockchain then we couldn’t agree more. These three technologies have been successful in establishing their identities in the world. These technologies have individually changed the technical world at a lightning speed and this might often lead one to wonder exactly what all these technologies can do if they are merged? In this article, today we look at the answer to that question and the benefits which one can get by merging the trending trio. However, before starting that discussion it is important for readers to learn about these technologies and their contribution to the world individually.
It must be quite obvious from the name that Big Data can be defined as any type of data which is present in a large amount or volume. There can also be different types of data and some of the most common types of data include:
- Structured Data
This type of data consists of a database which is present in proper order.
- Unstructured Data
This type of data is present in the traditional row-column storage system.
- Semi-Structured Data
This type of data can be characterized as unstructured data which has a few organizational properties.
These types of data which can be handled in big data points to the fact that there can be many applications of big data in different sectors. Some of the sectors in which big data analytical solutions can be of tremendous retail, financial services, healthcare, digital media, eCommerce, customer service, telecommunications, and many other services.
Internet of Things (IoT)
According to experts, IoT can be categorized as active things which are connected to the internet in the simplest words possible. Some examples of these active things can include sensors, vehicles, appliance, device, and many other products. These active devices can simply collect information and send that information to a server with the help of the internet or those active devices can receive information and act accordingly. There are many of these active devices which can perform both of those functions.
However, the requirement has been changing. And it is now felt by experts that active devices must also be able to perform both of those functions at the same time. It is being predicted by many experts that IoT will change so many sectors while also generating a large amount of data which will ultimately be handled by big data.
The blockchain technology grew in terms of its popularity when Bitcoin came into the picture. It didn’t take long for business experts to realize that this technology can also be applied to other sectors to get more benefits and it can be used for many things apart from just carrying out financial transactions. One of the best parts about the blockchain technology is that it has a distributed architecture for a database system. This makes it hard for anybody to hack into this technology.
The Benefits of Merging the Trending Trio
When it comes to the big data services then they can be very sensitive. There is also an immediate need for proper security. This is especially important in industries like defense, healthcare, and finance. Hence, the main concern in big data is the security of that data. Similarly, data which is sent through IoT devices is also very sensitive and needs to gain more immunity. Apart from the concerns related to security, another major concern is in terms of management of big data is its traditionally centralized architecture. This is also true for IoT devices which usually send and receive data through a centrally located server. This also leads to the problem of money and resources.
All of these problems can be solved by merging both of these technologies with the blockchain technology. The blockchain technology can solve the problem of security easily in both cases of big data and IoT. This can be done at a low cost and at the same time, businesses can get such a level of security which almost seems unbreakable. Data can also be saved from any possible future attacks as it won’t just be located in a single location and would instead be present in the various nodes of a network. This will also, in turn, boost the Data Turn Around Time (TAT).