-
A blockchain is a public ledger that works like a database where information can be added, but never removed. This enables a natural built in traceability, or provenance if you will.
-
A normal database is often centralized, unlike a decentralized blockchain. This means that the owner or manager of the database can manipulate its content, without anyone having the capability to fact check or correct the content. The fact that it’s centralized also makes a normal database more vulnerable to hacking or other attacks from a third party.
-
Digital provenance is a way for businesses to guarantee quality and authenticity to it’s customers, by giving their products a digital “watermark”. Businesses can also benefit from being able to verify the authenticity of the products from their suppliers. That’s of course a prerequisite for being able to really guarantee a quality product through the whole production chain. This eliminates the need for trust completely, as everyone can verify the made claims through the inherent properties of the blockchain.
-
Blockchain enables digital provenance through the use of a network of computers that each have a copy of the digital ledger installed on their hard drive. The ledger is viewable and verifiable by the public.
-
A normal database, if distributed across a network
is still centralized and controlled by some authority. It is privatized, and not open to the public. -
Digital provenance is a great benefit to all business because it removes the need for trust. It allows for all parties involved in a business transaction to verify each step of the process.
How does blockchain enable digital provenance?
- Because blockchain allows the traceability of transactions in real time and automatically audits itself. It also prevents changes on the database all on an immutable public ledger.
Why doesn’t a normal database bring the same provenance?
2. A normal database does not allow the traceability of transactions in real time, because it relies on a middle man to manually audit. At the same time data can be altered or deleted. Unlike immutable public ledger that aren’t able to
Why is digital provenance such a great benefit to many businesses?
3. Digital provenance is a great benefit because it allows for more efficient, more consistent, more trustworthy transactions than the traditional centralized databases. Decisions are being made by a computer, thus enables more accurate and real time auditing. Digital provenance is promoting a higher standard of transparency.
-
Blockchain enables digital provenance by allowing transparency in the supply chain of a product or service.
-
A normal database is unable to provide public ledgers which can easily be audited, and cannot be manipulated.
-
The two main benefits I picked up on were; allowing companies to track the validity of the supplies while not having to fully trust their suppliers, as well companies can save money in operating cost with not having to pay such firms as EY for lengthy audits which I might add can have errors. In essence, as you said…digital provenance allows you to not trust, but verify.
#1 blockchain is open decentralized can not be held to one mans control all to see start to end ! #2 normal database is privet greed in the shadows #3 quality and control start to finish raw product ingredients less of a chance of poisoning people love home work
1. How does blockchain enable digital provenance?
It allows the public (customers, citizens, etc) to trace transactions - financial transactions, looking at the supply chain of a product, etc.
2. Why doesn’t a normal database bring the same provenance?
Blockchain is decentralized and immutable. It is not “owned” or run by a central authority and transactions can’t be removed, they can only be added (unlike normal databases). The ledger is also linear and chronological (blocks are time stamped) so besides being more transparent and being trustless it can also now unite (put in one place) the accounting and transaction layers which are now separate.
3. Why is digital provenance such a great benefit to many businesses?
This transparency and real-time auditing offers businesses more efficiency and allows them to also bring value to consumers. It will promote more ethical business practice through consumers and the public being able to audit supply chains, possibly audit government spending. This makes the technology trustless - based on math and the evidence/data in the ledger - which will help businesses build better consumer trust (e.g. proving the supply chain isn’t tainted/unethical, proving that a product is authentic), benefitting society in the long run. The technology will also make many business practices more efficient, saving on costs. For example two business transacting with each other no longer need to maintain two records of the transaction in their separate ledgers.
-
How does blockchain enable digital provenance?
through its consensus solution which makes its data entries immutable. This prevents double entries or changes of entries.
2. Why doesn’t a normal database bring the same provenance?
because it can be changed by the central institution maintaining the database, or it can be “easier” hacked by outsiders. Double entries is a main problem of normal databases.
3. Why is digital provenance such a great benefit to many businesses?
because it creates trust in the information stored on the respective database since it cannot be manipulated.
Blockchain enables digital provenance by a verified record of the chronology of a transaction, with only additions to its record, no deletions. In this way, it is complete and transparent, public and not controlled.
A normal database can be changed or deleted. And a normal database may not be complete, or verified. So the chronology of the ownership of the transaction may not be there.
Digital provenance is a benefit to businesses by the completeness, accuracy, and openness or transparency of the accounting of transactions.
A verifyible ledger answering to no authority marks the details of accounting without the effort of auditing. This eliminates that step.
-
How does blockchain enable digital provenance?
Blockchain enables digital provenance by recording every single transaction, not just recording the transaction, but also by making it irreversible. It removes the need for us to trust other parties by allowing us the priviledge of being able to verify things ourselves. -
Why doesn’t a normal database bring the same provenance?
A normal database does not gurantee us that the information is accurate, as normal databases are centralized and therefore controlled by someone who could reverse or delete transactions. -
Why is digital provenance such a great benefit to many businesses?
It actually brings many benefits, but I feel the most important is the 100% reliabiltiy on the records, you absoluetely know the validity of the information
Provinance: is the process where you can track where all the components come from to integrate into a much larger and sophisticated product
- Blockchain allows digital provenance as it automatically records the history of a coin’s transactions.
- A normal database can sometimes be not as transparent as it should be because it can be altered or removed.
- Digital provenance can be a great benefit to many as it can’t be manipulated by anyone. Plus it also saves costs from hiring accountants/auditors.
-
Blockchain enables digital provenance by making the data stored publicly traceable and immutable.
-
A traditional database does not bring the same provenance because the data stored can be changed by anyone with access to the database without verification of other entities. The origin of the data is not traceable.
-
Digital provenance is a great benefit because the real-time auditing by the blockchain will save both time and costs for many businesses. At the same time businesses can become more transparent and more trustworthy.
Hi @TxKidd0572, @D1alZer0, @Bush86, @martin-vienna and @Eternal29! 
Welcome all to the forum!
- Blockains enables to save everything. no data can be removed. This way every transaction stays forever, and thus can by tracked forever.
- Data can be deleted or manipulated since most of them are not decentralized. Not everyone can verify it.
- It increases transparency, customers do not have to trust anymore, they can know/verify it. Customers could choose from which company they buy or with which they want to work with since they know from where the company has the ressources and/or where the money goes.
-
How does blockchain enable digital provenance?
A blockchain network is a distributed public ledger in which every node can trace & verify transactions on the network in real-time. Transactions on a blockchain are publicly visible, thus eliminating the need for users to trust any single participant in the network to authenticate data/transactions. -
Why doesn’t a normal database bring the same provenance?
Because a normal database is centralized, a user has to trust that the owner/controller of the data is acting in good faith at all times. This creates the need for additional layers of trusted 3rd parties to guarantee data provenance and to authenticate transactions. -
Why is digital provenance such a great benefit to many businesses?
Real-time auditing of data and transactions on the network eliminates the need for additional trusted 3rd parties. This allows for unprecedented efficiency, accuracy, reliability for all transactions on the network.
- Blockchain can enable digital provenance by making each new block contain an identical ledger across the entire network simultaneously. Once a block is verified by the network, it cannot be changed or manipulated, every transaction can be confirmed by anyone with access to the blockchain.
- “Normal” databases can be changed and manipulated and is dependent on TRUST. Provenance it therefore dependent on trust by a third party.
- Digital provenance provided by blockchain makes real-time auditing and traceability possible, without the need of human interference.
-
The transactions can be traced and tracked which creates transparency in a public chain. This provides for real-time auditing
-
Provenance creates one accounting system and everyone has the same numbers. If using a normal database, it’s easy to have own records and can make the accounts numbers to look like they want it.
-
It removes the need to ‘trust’ the person or bank with whom you are working. It helps revolves disputes between businesses because they have the same numbers. However, I can still see where there can be disagreements with regards to if a ‘service’ or ‘task’ was performed according to the contract. If there is room for interpretation on how the contract was to be completed, then there can still be conflict. IE: Let’s say there was a contract with a campaign manager and is paid based on how ‘hyped’ the crowd was at a rally, then there is still room for disputes. I’m sure there are ways to write the contract so that the ‘hype’ is measured by a meter. The event and contracts need to be analysed and worked through to help identify those potential areas of disputes. The company needs to find a way to make the potential dispute to be measurable so resolved any conflict before the contract is written.
-
The blockchain is a public, immutable ledger. All transactions are stored on the blockchain. So when a transaction is attempted and, for example, the buyer has insufficient funds, other computers in the network who have a copy of the blockchain will be able to verify whether or not the buyer has the sufficient funds available to them. By tracking every transaction or exchange of goods on the blockchain, the place of origin of funds or goods is known to everyone; thus achieving digita provenance.
-
Auditing is a common practice in business in order to verify that companies have the capital they claim to have. It usually requires a member of the auditing company visit the premises of the company in question and check financial records as well as materials. It may then be obvious that the data in the database that the auditor requires to inspect is not available at a moment’s notice; there is a lack of transparency between the company in question and the auditing company - and the public - until the auditing has taken place. The immutability and publicity of the blockchain will then give auditors a much easier time finding provenance without the need to trust individuals or corporations.
-
Digital provenance provides transparency, and allows businesses to gain reputation without the need to make outlandish claims. For example, a company that sells juice with no artificial colours, flavours or preservatives could instead have their ingredients and their provenance on the blockchain. Customers could verify the origin of the ingredients, and choose to spend their money on the juice instead of one of the company’s competitors. Ultimately the blockchain allows for a more efficient allocation of resources.
1-Blockchain is build on foundations of a network of transparent nodes or ledgers which are verified and are transparent having no middleman of authority, having self-built functions to compute and audit transactions
2- Normal databases are controlled by central authority (centralized) and do not run on principles of blockchain technology.
3-Many Businesses will benefit from digital provenance due to traceability, real-time auditing, self verification nature of blockchain which will reduce time to value