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How does blockchain enable digital provenance?
Public blockchain can provide provenance by decentralizing the servers on which the data that needs to be verified is stored. In this way the trust in a single company it’s eliminated.
We could also think about private blockchains as another solution like the people behind R3 did on banking, but of course this is not the preferred way of doing it. -
Why doesn’t a normal database bring the same provenance?
The current infrastructure can be manipulate by a bad intent owner or actually by hackers.
Having a public blockchain this kind of manipulations are practically very hard to do, but of course not impossible if the bad actor has the right amount of resources, even if we talk about mining power or stacked coins, based on the consensus protocol. -
Why is digital provenance such a great benefit to many businesses?
It’s important as it’s removing trust that one party needs to have in another one. The human nature is so impredictible as we can’t really trust each other without proving ourselves every time we are doing something. Having a public blockchain also the bureaucracy procedures are simplified a lot.
- blockchain nodes track and verify transactions
- because a normal database depends on auditors and it is possible to edit it
- because it is unmutable and it connects the transactions with accounting in the same transaction; and by this it is removing the human factor which often makes errors. furthermore, through provenance it is possible to track products or financial transactions
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Blockchain stores information in a public ledger and on this ledger, the information can be tracked from the start to end. Whether it is a product, transaction, etc. This allows the system to work on a “trustless system” where no other party can remove the information stored on the blockchain.
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A normal database can be altered by anyone (company, people, etc) that has access to the database. This creates opaqueness and does not allow for transparency. For example, if a company wants to change what they have in a product, it is easy as just updating the information. There is “noone” to verify if this information is correct.
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It will allow us to work on a “trust less system” and also provide things such as real time tracking of the product from start to end. Everything is stored on this public ledger where nodes can “verify the authenticity” of the information. This will allow customers to trust the business and their products. This will also allow businesses to profit from this from understanding customer needs and wants.
- Block chain is able to track the provenance of transactions. The network of computers will verify in their own local ledger if the transaction makes sense.
2)In a normal database you are able to remove or add things while in the block chain (digital stone) you can only add and you can’t remove anything - It is a great benefit to many industries because they can track anything in real time and able to see where things came from thus making everything more transparent.
If I misunderstood anything please feel free to point out where I answered incorrectly, thanks!
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Blockchaining enables digital provenance by making all transactions public and immediately verifiable. Each transaction can not be “unwritten” or changed after it has been created.
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A normal database allows for information to be added or removed, disabling the provenance.
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Digital provenance is extremely beneficial to businesses because they are able to verify funds and transactions in real time. It helps protect them against fraudulent accounts. They can be up to date with their financial statements and verify their spending making them more efficient.
- Blockchain enables provenance through its complete and unchangeable record of transactions which can be viewed by anyone at any time.
- A normal database is a centralised database, easy to change and abuse and which can only be viewed by the administrators or their designates.
- Blockchain is verifiable, traceable, available and trustless. The kind of business that a right thinking business or individual would want to interact with.
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Blockchain enables digital provenance because of its public nature. Anyone and everyone can have access to the full history of transactions up to the inception of the blockchain in real time, which means that everyone can personally audit transactions. Blockchain also ensures the veracity of the transactions because all nodes that comprise the network must agree on the blockchain in order for the transaction to be added.
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A normal database does not bring the same provenance because it is centralized and separates the transactions from the accounts. The central authority who owns or operates the database can alter any part of the database however they want and because the transactions and the accounts are both separate and private, only a limited audience can audit and verify the database.
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Digital provenance is a huge benefit to businesses because it allows for the removal of trust. Parties do not need to trust each other or a 3rd party to transact with each other, as the blockchain publicly allows them to verify their accounts and all transactions between parties are immutable.
How does blockchain enable digital provenance?
Blockchain technology is a distributed decentralized immutable ledger which makes it easy to use digital provenance and trace any date very easily in matter of few seconds.
Why doesn’t a normal database bring the same provenance?
Because they relay on trust more than actual data, for example in auditing the accounting layers and transaction layers are not together and they need time and more efforts to trace them.
Why is digital provenance such a great benefit to many businesses?
It makes it more efficient and easy as they can track, audit, and control any data at any point and at any time they wish rather then waiting for a year to audit everything. Basically Provenance with blockchain technology makes every thing trust-less with help of math and scientific methods.
1: It provides a permanent digital record of a transaction.
2: Other databases could be edited retrospectively.
3: It can provide proof of transactions in real time therefore saving auditing costs.
Provenance “The place of origin or earliest known history of something”
1. How does blockchain enable digital provenance?
Digital Provenance allows the ability of fallowing a “Product” from its inception to its current state on a defined public platform including its evolution as time progress on any time increment defined. It’s a system that can be added to but the original layers are immune to change.
I come from the construction filed and I can see a time where I can fallow the history of a screw from the initial design, Eng. Definition to procurement ordering, accounting payment, the supply chain starting in manufacturing all the way to installation.
2. Why doesn’t a normal database bring the same provenance?
Digital Provenance eliminates the Trust aspect of any product because all layers are visible and auditable. This degree of information dose not exist without of Blockchain technology.
3. Why is digital provenance such a great benefit to many businesses?
Digital Provenance eliminates the need to utilize the services of large corporations international or local auditing platform services. It allows to execute reliable auditing according to your own time needs. All layers of information are visually accessible on the same platform at the same time.
- Blockchain only allows things to be added but not removed . A network of computers use a public ledger to verify activities
- A normal database is editable and typically controlled by big corps/gov
- It eliminates the need for trust and rather relies on verification or real time auditing
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How does blockchain enable digital provenance?
By trust-less public ledger in the world wide web -
Why doesn’t a normal database bring the same provenance?
Privately controlled by third party that we need to trust -
Why is digital provenance such a great benefit to many businesses?
Real time auditing, large industries will be automated using algorithms
1. How does blockchain enable digital provenance?
It is impossible to remove data from the blockchain, you can only add things to it. A blockchain is a public ledger. No one can take control of the blockchain.
2. Why doesn’t a normal database bring the same provenance?
Databases can be changed. If the server or computers that hold the database crashes the data will be lost. Someone could take control of a regular database.
3. Why is digital provenance such a great benefit to many businesses?
You can use the blockchain to track goods, food, clothes, medicin and so on. You, as a customer, can verify different claims that are made.-
How does blockchain enable digital provenance?
A: Since it is a database where information can only be added, and not removed, it therefore creates a transparency to the history and movement of whatever data the blockchain is moving, i.e. Real time Auditing -
Why doesn’t a normal database bring the same provenance?
A: Because of two main reasons. The first is that it can be manipulated by people who may remove sections of data to protect a certain narrative, if necessary. The second being that any and all transactions can be private unless so desired to be made public, whereas the blockchain is always public. -
Why is digital provenance such a great benefit to so many businesses?
A: Because of the tracing of financial transactions. The possibility of realtime auditing, and the ability to verify and not have to trust.
- Technically No Data can be unturned, changed or deleted
- Normal database can be hacked, manipulated, and erased
- Because you don’t need trust but verification is key!
- How does blockchain enable digital provenance?
It is immutable and cannot be censored. - Why doesn’t a normal database bring the same provenance?
By being the opposite of the above, it can influenced by human nature or greed. - Why is digital provenance such a great benefit to many businesses?
Being trust-less, antifragile, and always accurate it reduces the need for a third party audit for fraud or correctness.
1.) Blockchain enables digital provenance by allowing full transparency from the very beginning. Nothing is hidden and any transaction can be audited at any time.
2.) A normal database doesn’t bring the same provenance because it downs not bring the traceability and track-ability that blockchain provides.
3.)Digital provenance is such a great benefit to business because it removes trust. Every transaction is on the blockchain for anyone to verify.
- because it cannot be changed, once you entered a transaction you can not erase it, it is open for verification of all members in the blockchain and you cannot just make changes without approval of everonye
- a normal database can easily be changed by someone or an authority - data can be erased and overwritten
- because you dont have to trust you can always verify - so you dont have to trust on any one person or institution - everyone in the chain has to approve, which gives a lot more security and you will for instance find out where your t-shirt really comes from
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By allowing all transactions to be audited in realtime via a publicly available ledger (record of information).
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Because it is centralised and privately owned. The information could theoretically be tampered with. this requires trust.
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It allows real time auditing of information. Inormation is available publically (or via a private blockchain) and can be shared between multiple parties in real time. An example usecase is in tracability (food, branded items etc).