Big data are voluminous data sets from new data sources that cannot be managed by traditional data processing software but can be used to solve problems that were otherwise impossible to solve. Take, for example, a supermarket. with an accurate data processing tool, one will be able to track and reconcile individual transactions against their corresponding payment. This will, in turn, ensures that every product leaving the store is paid for and also eliminates loss.
As awesome and important as Big Data is, it has become a major target for hackers who have seen the flaws involved in it and are ready to exploit it for their personal (evil) interests. Some of the problems with Big Data is;
- Personal information is at risk.
- Analytics isn't 100% accurate.
- It is impossible to be anonymous.
The problems associated with big data is quite enormous but let's make do with this.
Internet of Things (IoT)
IoT is a system of interconnected devices that are provided with a unique identifier (UID) and has the ability to transfer data over a network without requiring human-to-human or human-to-computer interaction.
Blockchain is a secure, tamper-proof, digitized and decentralized public ledger in which transactions are recorded in a chronological order. Blockchain has proven that transactions recorded on it can not be manipulated as every new transaction created on it forms a new block which is added to the chain of transactions, promoting transparency.
QURAS is a platform for smart contracts and crypto-tokens that utilize the
blockchain technology to facilitate a secure anonymous platform to share data
between IoT devices and use these data to generate a more intelligent response
from IoT devices by applying machine learning.
QURAS supports a wide spectrum of IoT device and applications such as Home appliances, Educational appliances, Medical appliances, Sportswear, Audit Programs, Loyalty card programs, and services. QURAS offers an unconventional solution to process and analyze big data in several domains including accounting, healthcare, online storage, and others.
Use Case On How QURAS Can Be Used For Accounting and Auditing
Big auditing companies that deals with terabytes of accounting statement and audit data which needs to be analyzed and verified will benefit from using the QURAS technology which is a public, distributed, and immutable ledger.
QURAS technology can be used to;
- Trace audit trails as each block contain a timestamp and link to the previous block.
- Automate the audit process.
- Identify the owner of a particular asset.
- Make the accounting statement tamper-proof through its immutable property.
Quras focuses on solving three IoT devices issue;
Anonymity: Users personal information is always at risk of hackers who constantly lurks for loopholes to exploit for their selfish benefits. By using it's zero-knowledge proof property, QURAS keeps users of IoT devices as anonymous as possible protecting them from hackers.
Accurate Analytics: QURAS effectively collect users data and send these data in a usable analytics structure to developers of IoT device software, So it can be used it to enrich their model without maintaining a central server so as to keep user's data secure.
Generation of trustworthy and secure data: QURAS will use the effectively collected user's data to sign the contracts between users and their IoT devices so that their IoT devices will always be generating trustworthy and secure data.
For more on QURAS and its technology, visit the following links: