Just as natural resources shaped the Industrial Revolution, big data is the driving force in the digital revolution–which has changed the ways we perceive, share and interact with that data. The influx of information moving to the cloud in recent years has forged new industries focused on compiling, analyzing, managing, securing and monetizing said data. The digitalization of consumer information has proven to hold immense value, so much so that the World Economic Forum (WEF) has classified data as a new asset class.
Consequently, digitalization affects business infrastructures, disciplines, politics and global economies. However, this does not always have positive outcomes. The truth of the matter is that data can be weaponized to affect every aspect of our society. Oftentimes, threat actors steal sensitive information in attempts to acquire monetary and even political gain. This can lead to ransomware attacks, enabling hackers to demand Bitcoin in return for stolen data. In some cases, data is exfiltrated by malicious entities with the intent of leaking sensitive information.
Constellation’s distributed security infrastructure is reshaping the way organizations process big data. Microservice architectures enable interoperability between data management systems and blockchains, consequently eliminating the need for first-gen smart contracts. As such, Constellation’s micro-service architecture is capable of more than just cryptographically securing large datasets in transit with complex security clearance requirements. It grants traditional data producers the necessary leverage to further improve efficiency, without hindering scalability or depending on disjointed management platforms.
The oraclization of complex datasets is in high demand for organizations the world over because it hinders their ability to make critical decisions on the fly and ultimately affects their bottom-line. By having easily accessible and compiled data, enterprises can eliminate the decision-making bottlenecks that are inherent with data producers at large. By deploying data validating policies, organizations can rapidly decrease the risk of utilizing bad or spoofed information, or losing data completely. This enables enterprises to circumvent the costs associated with regaining reputational footing with customers and stakeholders once their data has been spoofed, lost, or stolen.
As society expands its digital footprint, the amount of generated data continues to grow exponentially. Unlike those dealing in oil or any other commonly traded commodity, the individuals generating this newly classified asset are not able to trade or receive compensation for their information. Big data corporations may sell large sums of data that they collect on their free platforms and applications for monetary gain; however, the use of microservices — the glue of any application — is how leading, centralized data collecting platforms have been able to capture so much value over the past decade. Microservice-based architectures paired with smart contracts have paved the way for the tokenization of data, as it creates a robust solution capable of interoperability with traditional solutions, while leveraging the distributed nature of the peer-to-peer network.
Think about Facebook, for instance — a platform composed of a myriad of microservices that communicate and exchange data with each other. This platform is not made up of smart contracts, nor are its microservices reliable or scalable in a highly engaged environment. In contrast, Constellation’s Hypergraph allows any software engineer to build secured microservices that effectively communicate with existing or traditional products and blockchain applications, without hindering scalability.
Overall, organizations that collect vast amounts of data points may appear to take a hermetic stance in regards to sharing compiled information. This is because they need to be extremely cautious about data security and consequently protect their intellectual property at all costs. Constellation’s distributed security infrastructure provides the attribution and security tools required to make this data widely available for novel forms of data exchange, creating new channels for revenue. This is where the term datapreneur comes into play. Many enterprises are already shifting from antiquated, centralized business models to decentralized structures, which have proven to be far more lucrative. This is primarily why industries that adopt interoperable ecosystems experience a resurgence in output and growth. Organizations that have traditionally been rivals now work together harmoniously because the potential upside of increased fiscal and market allocation is too great to ignore.
Data is on the verge of becoming widely available, much as open source development tools were in the early millennium. Datapreneurs will be able to allocate open data — such as what you might find on data.gov — and cross-reference it with the abundance of available enterprise data. This will lead to new insights and a deeper understanding of business infrastructures, vastly improving productivity across a range of disciplines. In recent years, the push towards a decentralized, data-centric business model has accelerated Constellation’s reach as nearly every organization in the world is now assessing their own digital footprint.
Click on the link below to learn about how Constellation’s SPORE infrastructure is transforming the way organizations think about security, data validation and notarization across big data developments, such as IoT and Mobility.