Search
Profile

Ask your question

Close

Blockchain Technology

How is External Data Used in Blockchain Technology?

Blockchain technology stores data in blocks that are chained together and given a unique public ID. The content of the block is private but this ID is visible to anyone, which ensures that the data is secure: since the blocks are chained together, timestamped, reference all other nodes, and simultaneously recorded in many different locations around the globe, the chain becomes more secure as it grows.

As such, blockchain technology is used for all kinds of sensitive data. Most commonly, this means financial transactions—especially cryptocurrency—but may also include employee contracts, supply chain data, inventories, and medical records. Proponents of blockchain technology also argue that voting could be done quickly and securely with blockchain.

As blockchain technology matures, it becomes more secure, prompting more and more industries to adopt it. Governments have begun using this technology to plan innovation zones, aerospace engineers to design refueling stations, cybersecurity firms to revolutionize their entire industry, and on and on. The use cases follow the data itself in increasing exponentially.

How are Machine Learning Models Used in Blockchain Technology?

Many examples of machine learning programs based on or using blockchain technology exist. Smart contracts, for example, store contract data on a blockchain but then an ML program works to detect bugs or inconsistencies or to alert employees to attempted unauthorized access to contract data.

There are also machine learning programs that are based on blockchain technology. For example, automated navigation, or various parts of smart cities ecosystems, like smart meters. Essentially, the decentralized nature of the blockchain allows different sensors or network segments to record and communicate data; automated systems then take action based on that data.

Which Companies Lead the Way in Building Advanced Analytics and Machine Learning Products in this Field?

Bitcoin
The first and, arguably, still the greatest application of blockchain technology. Bitcoin is the preeminent cryptocurrency and is nearly synonymous with blockchain technology itself. Anyone, anywhere in the world, can start using and trading in Bitcoin: all that’s needed is internet access.

Tenderly
One of the most trusted smart contract companies, Tenderly guides its clients in the development, analysis, and management of company contracts. Users from a wide range of industries build custom contracts and enjoy Tenderly’s error tracking and intruder detection services.

IBM Food Trust
IBM applies blockchain technology to food distribution. Every stage on the food supply chain is recorded: from farmer to processor to distributor to trucker to retailer to home. With this, IBM and its partners ensure food is safe and fresh.

Related Categories

Relevant datasets

Stirista Political Data

by stirista

Stirista offers data that politicians and advisors can use to reach out to constituents and donors. Stirista has (so far) 150 million registered voter details sorted into 360 data points, including donation history. With this contact, demographic, web, and behavioral information, Stirista Political Data enables targeted advertising and outreach.

Stirista can also provide historical campaign data at all levels to help politicians plan effective political strategies.

3 (1)   Reviews (1)

Exante Global Flow Analytics

by exante_logo

Exante Global Flow Analytics supports alpha generation and risk management by extracting comprehensive price signals from detailed capital flow analysis. Exante complements hard data and raw model outputs with timely, narrative-based content, focusing on key global thematics and risk scenarios. Additionally, Exante maintains dialogues with their clients, providing bespoke coverage and service.

0 (0)   Reviews (0)

Acxiom Infobase

by Acxiom Data vendor review

Acxiom Infobase provides customer insight data for targeted marketing campaigns in a wide variety of industries

0 (0)   Reviews (0)

Similar Data Providers

  • The Arabesque GroupThe Arabesque Group
    5 (1)
    Reviews ()
    Data sets (4)
    Established in 2013, the Arabesque Group is a leading global financial technology company that combines AI with environmental, social and governance (ESG) data to assess the performance and sustainability of corporations worldwide. In addition to their Asset Management consultation service, the groups offers Arabesque S-Ray GmbH and Arabesque AI Ltd. datasets.
  • AndesAndes
    4 (1)
    Reviews (1)
    Data sets (2)
    Founded in 2018 and headquartered in California, Andes provides regenerative agriculture data. In essence, it merges bacteria and seed integration with artificial intelligence to help farmers gain valuable market insights. Andes helps increase productivity and enhance strategies to reverse the impact of climate change and water pollution.
  • ORATSORATS
    4 (2)
    Reviews (2)
    Data sets (1)
    ORATS helps companies create alpha-generating strategies with quantitative research and options trading data feeds and support. They use proprietary volatility analysis and historical data to provide expert market analysis.
  • AmeriBaseAmeriBase
    3 (2)
    Reviews (1)
    Data sets (4)
    AmeriBase is both a data provider and a marketing service. It gathers business and customer behavior data to score leads and market to those leads. Their marketing service includes mail, e-mail, tele-marketing, and SMS services.