Blockchain solutions for big data challenges: A literature review

Abstract

The popularity of Blockchain technology and the huge extent of its application, results with much ongoing research in different practical and scientific areas. Although still new and in experimenting phase, the Blockchain is being seen as a revolutionary solution, addressing modern technology concerns like decentralization, trust, identity, data ownership and data-driven decisions. At the same time, the world is facing an expansion in quantity and diversity of digital data that are generated by both users and machines. While actively searching for the best way to store, organize and process Big Data, the Blockchain technology comes in providing significant input. Its proposed solutions about decentralized management of private data, digital property resolution, IoT communication and public institutions' reforms are having significant impact on how Big Data may evolve. This paper presents the novel solutions associated with some of the Big Data areas that can be empowered by the Blockchain technology.