1.) By providing an immutable ledger that anyone has access to.
2.) Because a normal database is not immutable and relies on trust instead of being open to the public.
3.) Because it allows them to ensure the source and quality of products received and sold.
Homework on Provenance - Questions
How does blockchain enable digital provenance?
It enables digital provenance by being TRUSTLESS and mathematically verifyable. Don’t trust, verify. Data cannot be modified or deleted, only added.
Why doesn’t a normal database bring the same provenance?
Because it isn’t a blockchain of nodes that can all verify if the information is correct. Rather a single database is more or less localized and not updated across multiple nodes in real time like the blockchain. A database can be manipulated by the database admin. Data CAN be modified or deleted.
Why is digital provenance such a great benefit to many businesses?
Because it enables businesses to prove their trustworthiness and quality of their products among other things.
Everyone can see all transactions and confirm all transactions. This system can work, even with unethical people. If the system is 100% correctly designed, nobody can be scammed. If less than 100% it would limit scamming to very few people.
Normal databases were designed to have records edited, modified, deleted, added. They are not a “digital stone” where information or transactions can only be added. They are not a permanent record. Permanent records tend to STRONGLY discourage corruption. Most of the worlds big problems can be linked, at the lowest level to corruption.
The example of Origin Trail is a perfect “real world use”. None of us, I hope, want to promote child slavery or eat “Frankenfood”. Imagine if we could track all the ingredients in our food. And we could by services and products which were produced ethically. Every purchasing decision, could literally make the world better, when we would do them ethically. On the business side of things: trust is great when it works and a lack of confidence can ruin or cripple a business. Tracking and verifying instead of being forced to trust, can allow businesses to go ahead with confidence in some types of dealings.
How does blockchain enable digital provenance?
An unchanging, digital record to trace and track real time.
Why doesn’t a normal database bring the same provenance?
Delayed and does not provide real time auditing.
Why is digital provenance such a great benefit to many businesses?
Brings efficiency and trust. It’s fast in real time. Open source, with public leger.
Blockchain unites the Account information with Transaction information to facilitate digital provenance.
Normal database will have limited information to achieve that.
The accounting procedures can be automated and optimized using software.
Blockchain enables digital provenance by merging accounting and transactions. It does this by providing real time updates to the ledger. This allows you to track products and/or payments in real time.
A blockchain is pretty much a next gen database. Currently, databases can be tampered with. Soon, with the adoption of blockchain, people will not have to trust the record keeping of other people, instead they will be able to verify the records on the blockchain.
Digital provenance benefits businesses by providing real time updates on the status of the products and ingredients, where they have been, and what parts of the supply chain they have passed through.
Blockchain enables digital provenance due to the fact that all transactions made on the blockchain are verified by a decentralized network of computers.
Besides this, all transactions are immutable and therefore all transactions can be tracked.
Because a normal database is controlled by a centralized entity which can be manipulated.
Because with digital provenance everything can be verified and trustless, for example in the food business origin of ingredients can be verified through the blockchain.
1.blockchain enables digital provenance by containing account and transaction info. at the same time
2.a normal database does not provide real time-auditing
3.digital provenance is a grate benefit because it provides verification in staid of trust
Blockchain enables digital provenance in that one can only add date to the blockchain and data can’t be removed.
A normal database doesn’t bring the same provenance as data can be added, deleted and modified on a traditional DB.
Digital provenance is a great benefit to many business in it provides transparent transaction.
Blockchain enables digital provenance by having the feature of only adding data and being unable to remove data from the network. This means that all data on the blockchain is transparent and origins of all data can be seen.
A normal database doesn’t bring the same provenance because it can be tampered with and is centralised therefore changes are not verified with the entire network.
Digital provenance is great to business that deal in integrity as they can verify their claims to their clients in a way that does not utilise trust therefore gaining an edge from their competitors. Another benefit is that if their database is in a decentralised nature it cannot be destroyed as they do not rely on a central authority. Also there is transparency between businesses and investors when it comes to accounting as all transactions are transparent.
1- because a public leger stored in many computers, you can add and not romove info from it
2- because a normal database is owned or store in a central Server, no way to make a real verification you need to trust the owner of the database, in the blockchain everyone can see it and no one can manipulated it as it’s store in many computers.
3- because digital provenance is allow to track and verify digitally in real time -
-Homework-
The blockchain enables digital provenance because, once a block is created its origin is “written in stone”.
A normal database can be modified, edited, etc. This means that things added to said database may not be accurately verified.
Digital provenance is such a great benefit to many businesses because businesses can easily verify their products origin and can trust that nothing will be changed.
1- Blockchain only works when everything from beginning to end adds up correctly therefore if data is manipulated along the way it is apparent
2- Normal databases are often controlled by a central authority and not made public which allows for manipulation along the way.
3- When customers can verify the information being provided to them it promotes good moral work practices therefore if a company follows thru with its mission statement it is that much more impact-full and apparent.