Underpinning the growth of the 4th Industrial revolution economies is the explosive growth in Cloud computing. Global cloud spending is expected to exceed $1 Trillion annually this decade. Blockchain will be a key cloud data center service offering. Optimizing the use of the global cloud compute and data networks will be an imperative to the efficient adoption of blockchain based industry solutions.
Monsoon Blockchain Corporation has assembled a strong team of partners to deliver solutions for companies desiring to harness the potential of a global distributed blockchain cloud capability. Our team has helped build some of the great storage companies and cloud infrastructures of the last decade including Box, Facebook, Apple iCloud, FusionlO, Violin Memory and Alibaba. Our team has built storage and cloud solutions for Amazon, Oracle, IBM, EMC and other leading storage and cloud providers.
Having taken several companies from concept to industry leader and with some public companies, the team is well-positioned to drive this potential massive shift to a protocol-based industry. Our Asia and US centric approach is forward-looking as the center of gravity shifts to the pacific market rim anchored with the strong technology and markets of US, China, Korea and Japan.
Blockchain presents an innovative method of collecting information, performing transactions, executing functions, and building trust in an open environment. Despite the fact that blockchain has drawn increasing interest over the last few years, the security of blockchains remains to be at the heart of the debate.
Cloud computing technologies can be considered to be the blockchain technology’s predecessors. Blockchain networks can be run in cloud security settings, which can, therefore, play a principal role in blockchain implementations. Both cloud and blockchain have security protection systems, thus both are resistant to cybercrime.
As blockchain technology is getting traction in many different areas, it is usually recognized as an incorruptible technology. It is claimed that the security problems in a cloud environment can be resolved by blockchain technology. Any transaction data is stored and is hard to remove due to the consensus mechanism of blockchain. Apart from that, it becomes difficult for the intruder to interfere with the transaction’s data. It means that the larger the number of block-chain nodes, the more difficult it gets to modify the data.
Blockchain could be seen as an ideal solution to address many of the challenges of Big Data management and analytics. It offers three solutions:
- Decentralized: Through its decentralized system, blockchain technology ensures the security and privacy of data. Through decentralized consensus algorithms and cryptography, blockchain validates data making it almost impossible to be manipulated due to the huge amount of computing power that will be required.
- Distributed: Blockchain is a distributed database or ledger system that records economic transactions such that they cannot be manipulated. The distributed network system also means the same transaction is shared network-wide, making it secure by design. It cannot be forged due to the network architecture. As the blockchain is secure it can be used to prevent hacking and data leaks.
- The process is also much more transparent because nothing can be changed without the approval of every server in the network, everyone can see what changes are being made. This makes it much more difficult for mistakes and fraudulent transactions to occur.
- Immutable: Validated data generated via blockchain technology comes structured and complete plus the fact it is immutable. As such, once a transaction has been recorded, it can never be changed. Information remains in the same state for as long as the network exists.
Immutability of data is of utmost importance to the corporations which are concerned with Big Data. If the data set that needs to be scrutinized is modified in any way, the resulting analysis is bound to be of little value.
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