Big Data is an area where blockchain technology could drastically improve the sector by minimizing costs and increasing the amount of data that can be processed. By storing data on a public blockchain, Big Data companies can save a huge amount of money on data storage and be able to process more data faster than a centralized solution can.Some blockchain-based projects have already started to offer such a service at the enterprise level. Storj, Filecoin, MaidSafe and Sia are just a few such projects. Their common goal is to offer a service that stores data on the blockchain instead of servers. The data can be stored on a decentralized network of users and be validated through a public blockchain.
This concept could strongly reduce the costs of data centers and make it a more cost-efficient solution for enterprise companies that want to store their data in the cloud. Some of the above projects even allow users to rent their unused storage space and earn money or coins.