Amazon received a patent for a service for processing large-volume streaming data

Amazon has received a patent for the use of BTC, which allows users to track cryptocurrency transaction data in real time.

The idea of ​​a data marketplace itself is not unique, but what is new is that it is creating a space that finally gives users full control over the data they create through their digital actions.

Amazon's main problem is the lack of a payment service that can provide information on the number of transactions with minimal delay. The company is constantly expanding and there is too much data, and the speed of processing it is too slow. Therefore,  Amazon developers are looking for ways to solve this problem. As a result, it was possible to develop a solution for the streaming data market, based on the ability to receive a large amount of information from different sources in real time.  

The technology primarily satisfies the needs of companies in managing large amounts of data.  

The service's capabilities allow individuals or organizations to post streaming data for sale, which customers can then join. 

The potential capabilities of the data transfer service include simultaneously receiving and analyzing clickstreams on websites, marketing and financial information, industrial instrumentation data, social networks, etc., as well as creating real-time monitoring tools for quick business decisions.

The service also allows processing of information flow about global cryptocurrency transactions in real time, while the transactions become visible to all participants networks. 

The patent notes that individual data streams are not that valuable on their own, for example, data on cryptocurrency transactions is not of great value, but by combining this data with data from additional sources, the information can become more meaningful for analysis.

The Amazon Technologies document provides the following example of using the technology: “An online store chain that accepts Bitcoin for payment may have a shipping address that matches the BTC address. In this case, the company can combine the shipping address with the Bitcoin transaction data and create a combined data stream."

The service can be useful for law enforcement agencies. The system makes it possible to systematize all the necessary data, in particular, global Bitcoin transactions can be obtained sorted by different criteria - by country, by source IP addresses and delivery addresses.

Amazon's patented solution for the streaming data market can pose serious competition for startups that are working on similar, but more decentralized systems for processing large volumes of information.