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The blockchain is a public database anyone can access and look into. You can add but you can not delete or remove data from the blockchain.
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A normal database is controllede by someone who can change the data, a normal database is not available for the public to access. You have to trust data and the admin. Blockchain is trustless.
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Used in a correct way it can bring trustless access for the public to company’s products, supplychain and transactions. Don’t trust… verify.
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How does blockchain enable digital provenance?
Through a decentralized network of actors that all keep a copy of a public ledger to verify as something is going to get added to that public ledger. The actors in the network can then together verify that the added transactions to the ledger is valid. That mechanism in itself makes the blockchains “database” aspect get the property in that nothing can get erased from the public ledger but new valid transactions can get added to it.
So if a majority of the network is not corrupted then the history of the ledger (the provenance) is still present.
Why doesn’t a normal database bring the same provenance?
One person can never verify that a normal database hasn’t been tampered with in the case of updating or erasing things from it. The normal database is then not able to know if something in the history of all transactions is missing in the latest version of the database.
Why is digital provenance such a great benefit to many businesses?
Society as a whole is functioning to a large extent on trust, so businesses is also affected and in need to trust other actors in society. Provenance is something that is of great benefit in such trust based society and in todays day and age with society going trough digital transformations in almost every aspect, a digital provenance is something relevant that fits in time with everything else. With almost everything going digital, businesses access to digital provenance is very beneficial in the sense that it takes away the needing of trust in humans that are prone to be corrupt or very error prone. It’s just not that it prevents being scammed or mistakes happening, it also is much more efficient than manual trust mechanism that takes place in todays society. My view is that it is almost like any other aspect of life that has gotten more efficient with it going digital, so is the trust aspect when it is going more digital.
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- Blockchain stores all the information of an address’ purchases onto the database-ledger. This data becomes accessible to anyone once it becomes part of the block chain, so if you know the identity of a certain address, you can search the database for that address and find information about its transactions.
- Blockchain differs through its verification system which disallows users to alter data in the database.
- Businesses can become more efficient through blockchain by providing transparency for transactions. This can help ensure authenticity between companies by verifying their product sources. Governments may one day use this technology to determine taxes or audit a company’s product sources.
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1.By making it decentralized
2.Normal database is base in trust and no real data.
3.Because we don’t have to trust in database provided for our supplier, instead we can verify that information.
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Blockhains enable digital provenance because it provides the trustlessness, instead it verifies
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Normal database can be changed, but provenance is like the digital viking stone, you can add data, but you can not change the existing one.
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Because it is secure and decentralized. In future, you will be able to verify that what you are purchasing is real and know its genuine history.
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Welcome to the forum! 
- Since blockchain is a public ledger in which data can only be added, all transactions stored in the ledger can be audited, allowing any point of origin to be traced.
- A normal database is not shared among all parties involved in an enterprise (nor with the public); therefore, traditional accounting systems cannot produce the level of provenance that blockchain can because they don’t allow for anyone to have complete store of information. In order to audit records in a traditional system, one must cross-reference separate databases, which is costly and likely to reveal numerous inconsistencies (through human error and lack of coordination) that cannot be reconciled.
- Digital provenance leads to higher accuracy, as the public ledger keeps all parties involved strictly accountable. Also, fewer resources are required to audit blockchain records than records kept through traditional accounting systems, thereby making the business endeavor more profitable.
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- By keeping a copy of the entire ledger, everyone can verify a certain transaction.
- A normal database is editable and prone to tampering by attacking the central storage point, whereas in a decentralized distributed database there is no central point to target and it would take huge effort to change records on majority of the network.
- It removes the need for trust and/or auditing, meaning fewer middle men, less costs relying on valid true information
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Block Chain is a Public Leger or Distributed Ledger system that allows you to add transaction data but not subtract data. Provenance is the Original Data entered, block chain allows you to add to the original data but not subtract.
A Normal Database can be altered and cannot provide Provenance, or as we used to say in Auditing (My previous profession) a single source of truth. Once and audit was done, truth had to be maintained by locking down the audit. Problem was there were ways to get into the data to change it
Digital Provenance locks down the data using math and cryptography so it can’t be changed. This is also verified by all the computers on the distributed ledger.
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How does blockchain enable digital provenance?
Information about a transaction can be made available in the transaction itself, and anyone can view that information directly because anyone can access the blockchain. -
Why doesn’t a normal database bring the same provenance?
In a normal database, you can remove records, so it is not certain that all records will still be there at any point in time. -
Why is digital provenance such a great benefit to many businesses?
The “trustlessness” of this system means that you don’t need to rely on trusting a third party to give you accurate information. It also removes the need for auditors to physically examine financial records, because all the information for a financial audit is stored all together in the blockchain.
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Blockchain enables digital provenance by it’s inability to be modified and by being public. The combination of these 2 aspects allows for transactions to easily and reliably tracked and followed.
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A normal database is generally centralized which creates a slew of issues. Unlike the blockchain, modifying or destroying a normal database is possible. While not bad, centralized data bases are still reliant on consumer trust and are therefor susceptible to issues
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Digital provenance (as discussed in the video) can be used for more than simply tracking financial issues. Businesses can benefit from this technology in numerous ways. Anything from tracking how well certain items sell to tracking where ingredients in their food come from are all theoretically within reach with the power of blockchain. The provenance inherent to blockchain creates a system where trust is no longer required which benefits businesses and consumers alike!
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- How does blockchain enable digital provenance? By making each transaction permanent in the ‘ledger’, so it cannot be altered
- Why doesn’t a normal database bring the same provenance? Because you can modify databases
- Why is digital provenance such a great benefit to many businesses? Because it removes ‘trust’ in other parties, transactions are verifiable and public and can save time and money
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- Blockchain enables digital provenance by requiring each transaction to be validated on what is essentially a database that can be added to, but not deleted from.
- A normal database doesnt bring the same provenance because anyone could have created it, added to it, or deleted information from it.
- Digital provenance is such a great benefit to many businesses because it allows you to check and verify in real-time.
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- decentralized system is not controled by anyone so it is trustless. Which means everything is verified by the system not by any bussiness, goverment, or any other authority
- Because trust is involved. We are told to trust the business, goverment or authority. But anyone can cheat.
- Easy to verify / validate bussiness claims. Slogan “Don’t Trust Verify”
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1.- By tracing all transactions, every transaction in the blockchain cannot be removed, so there´s no way it can be manipulated.
2.- A normal database can be manipulated, it´s vulnerable to incidents, it involves trust in a centralized governance.
3.- It offers guarantee to the final user, costumer, consumer that their product is 100% accurate.
And efficiency increases, so transparency
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Great video Ivan you really made me see its utility.
The fact that we can trace the transactions to their origin and have complete transparency is great. Also putting together the transactional layer with the accounting layer is a great idea. Big 4 better be ready for what’s about to hit them.
No one can change the data once added there.
Because there is a central point of control that decides the rules and can change it at will. A lot of trust is needed whereas in the previous point the system is trust-less.
Because many businesses source goods from other suppliers and they need to trust them in terms of what they are receiving. They can’t verify the authenticity of the goods that they are receiving. How can you know your Nike shirt wasn’t counterfeited or coming from suppliers that practice bad business.
It also helps the customer if they can trace their goods.
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How does blockchain enable digital provenance?
Blockchain is this new data infrastructure that uses math and hash functions to build a decentralize database. It is less prone to data manipulation and no central authority or entity can shut it down especially for public ledger like Bitcoin. -
Why doesn’t a normal database bring the same provenance?
Normal database like Google or Amazon has a central authority to regulate and manipulate its data. So it is hard to prove if they are lying or not about their data/source when everything is under the table. -
Why is digital provenance such a great benefit to many businesses?
Don’t Trust, Verify is the key benefits that the blockchain brings. It is easier for businesses and customers to verify if the materials/ingredients/transactions/data original from trusted source. It is also harder for someone tries to manipulates the data at a later time because the blockchain technology.
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- All transactions are traced and entries of all transactions are stored in the database, once approved, they cannot be manipulated
- Normal databases don’t have the same level of security and traceability available in Blockchain, therefore, data can be edited or manipulated and requires trust
- The end user can trace the complete process from sourcing until finalization of the product, they don’t have to rely on trust as all of the information will be stored and available, it will also reduce costs for a lot of business and simplify the whole supply chain process across multiple industries
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- Blockchain enables digital provenance by permanently documenting all transactions within a public database.
- The most common use of a database within business does not currently meet the same security level as digital provenance would due to its ledger not being available to the public. It is subjected to centralized auditing with its accounting layer being separate from the transaction layer. Real time auditing would solve this problem.
- Digital provenance benefits business because of the requirement of verification. The public can hold more confidence in their transactions. Companies can operate more ethically with a decentralized ledger while maintaining customer loyalty and ensuring success.
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- immutability
- mutable
- brings in a new way to make immutable records in a trustless open environment
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