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By using a distributed process of transaction verification, no unverified transaction can be added to the blockchain. Also, not transactions can be removed from the blockchain.
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A normal database can be modified by any owner of the database, without verification, and transaction can be changed or removed. I suppose there are ways to program for these shortcomings in a business, but using a distributed blockchain eliminates that need.
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It removes the need to trust the data. It also can combine the accounting information with details of the transaction, eliminating many auditing functions, and ensure the integrity of the supply chain.
1-Blockchain removes TRUSTING a person or company bookkeeping. Original ownership (source) can be tracked.
2-A normal database can be changed/altered/hacked.
3-Digital provenance is a benefit because authenticity of a transaction can be trusted.
- Blockchain is a distributed ledger technology which allows the benefit that no single central entity must be trusted to account for provenance of things.
- It is usually owned by some central entity and therefore trust is assumed.
- No need to pay for audit
and furthermore transactional and auditing layer are merged. I’d say trustless auditing/transactions are also more efficient
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Digital provenance is enabled by real-time auditing on public ledgers. It eliminates the need for trust and verifies the state of the product along the value chain. Blockchain is decentralized in the sense that it is public yet immutable. This instantly makes it the best way to store and share information and value.
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In a normal database, the data is fed manually and is mutable to edits. Since the data does not always reflect the true nature of the process the system depends on trust for verification, unlike blockchain that allows audits every second.
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Business can run their operations more efficiently if all aspects of the value chain were constantly tracked. If firms were able to track the procurement of the product from its origin down the value chain to the shelves, it will make room for a major shift on how businesses conduct their supply chain cutting down on both cost & time.
How does blockchain enable digital provenance?
By permanently storing data via only verified transactions that cannot be edited or erased on a public ledger, viewable and traceable by anyone at anytime.
Why doesn’t a normal database bring the same provenance?
Normal databases are editable by their owner or by others given editing privileges. These changes are sometimes not viewable by the general public and data can be fake.
Why is digital provenance such a great benefit to many businesses?
Since it is a trustless/verified environment, businesses can know what their supplies are and/or where they are coming from. This improves efficiency immensely.
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How does blockchain enable digital provenance?
The immutability of information on the blockchain is a testament to truth that requires no trust in a 3rd party. -
Why doesn’t a normal database bring the same provenance?
A normal database is typically centrally administered, and designed for efficient record keeping/data storage. If there is a need to retroactively change information, it can be done so. -
Why is digital provenance such a great benefit to many businesses? There are many benefits, but the primary ones I see are trusted information for internal purposes and external partnerships, efficient auditing, and baked-in fraud prevention.
- The blockchain is transparent and immutable so it is easy to trace the provenance of a transaction/ingredient etc
2 A normal database can be edited and changed. It is centralised and not decentralised as the blockchain is. The blockchain must be the same on multiple nodes before it is verified.
3 It allows for digital auditing real time and also allows people to trace their transactions/ source of their materials if they make something. This is good if they want to demonstrate unequivocally their bona fides with a customer.
- How does blockchain enable digital provenance?
By recording all transaction on a blockchain. - Why doesn’t a normal database bring the same provenance?
Because a normal database is centralized and when it’s down you can’t access the information, unlike on the de-centralized blockchain. - Why is digital provenance such a great benefit to many businesses?
Because it provides the possibility of real-time auditing and accurate traceability, among other benefits.
- How does blockchain enable digital provenance? It’s inherently auditable, unchangeable and open. Open Ledger so anyone can view it allowing for trustlessness.
- Why doesn’t a normal database bring the same provenance? Don’t Trust / Verify, traditional databases could be tampered with or manipulated. Traditional databases are not decentralized.
- Why is digital provenance such a great benefit to many businesses? Transparency for customers which will make them feel better about the purchases they are making.
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Being a digital ledger that does not allow you remove transactions and requires the networked devices to agree on the validity of a transaction before it is added allows you to trace the origin of all transactions since they are all in the blockchain… it is the record. Being decentralized and not having any authority that can make changes or override the changes ensures it does not become corrupted.
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A normal database allows you to remove entries which destroys provenance and does not require consensus prior to adding which is also a threat to provenance.
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One it makes accounting easier and eliminates the need for this service and time to do audits. It also allows a mechanism of tracking data points of a product such as where the product originated, or what materials where involved, as well as a chain of custody that they can use to offer to their customers that can differentiate them from the competition.
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How does blockchain enable digital provenance?
Blockchain keeps all transactions from the beginning till current time. You can trace any information in a particular period of time -
Why doesn’t a normal database bring the same provenance?
In a normal database information can be added, deleted, or altered -
Why is digital provenance such a great benefit to many businesses?
The main point is trust less. All parties involved in a business have the same access to the same information (transparency)
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Blockchain offers us the ability to have a immutable public record that can be decentralized to ensure a more accurate trust-less environment where everyone can verify the same information.
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Normal database’s are easily changed where records can be updated and removed at will by a single individual as well as having a need for a stream of backups so that data is not lost. Can be prone too censorship as private company’s generally aren’t forthcoming with their data.
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Businesses can nurture better relationships with their clients by being more transparent in a trust-less environment.
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Blockchain is like a digital runestone and everything on it stays there forever and cannot be removed. Every transaction is written on the blockchain (the digital runestone) and since the blockchain is an open ledger every transaction can be traced back. Permanent records of each and every transaction is very good for transparency. The blockchain is also decentralised which means that it’s not owned or controlled by one single company, organisation or authority. No-one can change the records, they are there forever.
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Because a normal database is not decentralised in the way the blockchain is. A normal database is centralised, meaning that any organisation, government or authority that owns it can control and manipulate it. A transaction can be erased and removed in a normal database but on the blockchain everything stays forever. A normal centralised database is therefore harder to trust.
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Because that makes the customers not have to just rely on blind trust that their data is safely stored and not manipulated. Instead of trusting the database things can easily be verified. It’s real-time auditing whenever we want or need it. It’s also very good for companies that deal with physical products to be able to trace where for example materials come from. It adds a lot of transparency to everything and transparency is becoming more and more important for customers nowadays.
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1- By uneditable data verification
2- Because the data can be edited / removed, therefore you have to rely on trust.
3- You are not depending on trust.
- Blockchain provenance is achieve by allowing transactions to be traceable and transparent.
- Currently when billing runs and problems are found with the transactions, I can delete all the transactions from the DB, change the code, and rerun the billing process. I’m not sure if that can be achieved with blockchain?
- Auditors are no longer needed. All transactions are immutable and transparent. Organizations don’t need to be trusted because all transactions can be verified.
- By providing a historical record of transactions and accounting at the same time.
- A normal database does not have the same features as a blockchain database.
- It provides a trustless environment that does not require trust but only verification.
** How does blockchain enable digital provenance?* By verifying through several computers that a transaction is real and accurate.
*** Why doesn’t a normal database bring the same provenance?** Because it’s easy to copy, add, remove or hack data from a normal database.
** Why is digital provenance such a great benefit to many businesses?*
it tells the truth and verifies data. It has an inbuilt accounting system.
The origin of products can be traced and its qualities confirmed.
- The blockchain has trace-ability and transparency as one its key features. Across the supply chain, assets can be digitised and tracked.
- A normal database is centralised and has a central authority. This will be in the sole possession of particular organisation excluding other participants or actors.
- Businesses can identify problems across the supply chain and act accordingly e.g A disease outbreak in a product with digital provenance can lead to saving a lot of money and time to trace it.
blockchain enables digital provenance by recording all transactions on all ledgers making it a trustless environment. no information can be removed.
a normal database does not bring the same provenance because these types of records can be hacked, or altered, and information can be removed
its a great benefit in many ways. your customer can be sure that they are receiving what they are paying for. they can trust the supplier. blockchain links transactions and invoices for easy accounting and tax purposes. makes everything trustless therefore making trust.