April 11, 2021

The kings of data must utilize blockchain technology

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In our digital world, data has now become as valuable as gold or oil. In order to achieve success, companies must adapt to handling their data much like a commodity, by trading and earning a profit off of it. Data is especially valuable when it comes to artificial intelligence and machine learning algorithms due to its ability to provide value that enables new AI use cases.

In order for a marketplace to be successful, it is essential to take into account scalability, quality and price of data. This is where blockchain technology comes in, where it will able to provide marketplaces with low infrastructure costs. Data is valuable, and blockchains are able to provide the infrastructure that allows transactions to be economical while promoting privacy, which has become one of the most important aspects of selling and using data.

Related: The data economy is a dystopian nightmare

Blockchain is going to change data marketplaces

Last September, Snowflake became the biggest software IPO to date, while Salesforce, having been around for much longer, has been public since 2004. Because Salesforce has been around for decades, its foray into blockchain was almostTitle: The kings of data must utilize blockchain technology
Sourced From: cointelegraph.com/news/the-kings-of-data-must-utilize-blockchain-technology
Published Date: Sat, 13 Feb 2021 11:14:00 +0000

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