Cryptocurrency users avoid becoming part of the big data issue

One of the very big issues that humanity will have to face in the coming decades is the issue of big data management.

The volume of data recorded by humanity doubles about every two years. Service providers process raw big data, looking for patterns and relationships between available information and metadata derived from big data.

The grouping and categorization of individuals that can result from the processing of big data is of interest to both companies and governments. But the information that emerges raises concerns about privacy and human rights.

For example, a person’s behavior, health history, or relatives’ health history can be used to influence their insurance costs. Also, collecting data related to hobbies, interests or friends could be a source of exploitation to influence people’s political preferences and electoral behavior.

To date, there have been many companies that have been able to use data to target online advertising to sell products. While many companies have repackaged data, including personal data of Internet users, and sold it to other companies, a fact that raises serious ethical issues.

Data can be collected from many sources such as Internet of Things devices that are able to provide large amounts of valuable data, while artificial intelligence is used to process this data. However, the data are useless without trained systems for their evaluation and correlation.

But trained systems such as so-called neural networks are as good as the data in which they are trained. The human bias that infects this data can lead to a biased system that will ultimately reflect biased decisions.

The good news is that Blockchain can be particularly powerful in addressing the issues raised by big data processing, because it is a technology that can be combined with the technologies of the Internet of Things and artificial intelligence, and because of its architecture as a decentralized system, it serves as a valuable tool that builds trust.

It is perhaps the same architecture and the corresponding reasons of cryptocurrency users who, based on Blockchain technology, seek decentralized solutions, as they want to avoid becoming part of the big data processing.