Amazon to Have a Streaming Data Marketplace Using Blockchain
Blockchain Applications

Amazon to Have a Streaming Data Marketplace Using Blockchain

Amazon Technologies Inc., a subsidiary of Amazon, the e-commerce giant, was recently granted a patent for one-of-its-kind streaming data marketplace which would provide the users with data about the real-time cryptocurrency transactions. The document about the same was released on April 17.

According to the patent, the company developed a technology which would provide a relatively low latency for processing streaming large amounts of data. The organization was in dire need of better solutions to manage large amounts of data, so it did find a better solution.

It would also allow the developers to “build real-time dashboards, capture exceptions and generate alerts, drive recommendations, and make other real-time business or operational decisions.” When it is released, this multi-streaming data service could be used to process information received from various sources like “web site click-streams, marketing and financial information, manufacturing instrumentation and social media, operational logs, metering data and so forth.”

The document also describes a use case pertaining to the cryptocurrency market “data stream that publishes or includes global Bitcoin transactions (or any cryptocurrency transaction).” According to the document, the transactions would be completely visible to participants all over the network. The patent says:

“For example, a group of electronic or internet retailers who accept Bitcoin transactions may have a shipping address that may correlate with the Bitcoin address. The electronic retailers may combine the shipping address with the Bitcoin transaction data to create correlated data and republish the combined data as a combined data stream.”

The customers who want to consume data can subscribe to the data stream of their choice and can “optionally select desired enhancements that are not already included in the desired data stream.” This can be exceptionally useful for law enforcement agencies which want to “receive global Bitcoin transactions, correlated by country, with ISP data to determine [the] source IP addresses and shipping addresses that correlate to Bitcoin addresses.”

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Syed Ali Mudassar
It was when he was pursuing his graduation in Computer Science that he found his flair for writing about new and existing technologies. He likes researching about technologies and how they could help people. Currently, he works as the Content Manager at CoinFrenzy, a leading blockchain news, and media publication website.