- By being able to verify through immutable blockchain the original source
- It can be edited by certain parties without other parties being able to verify
- Able to verify the source of truth in order to protect brands or give end customers trust in the information provided to them
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- simply by creating an decentralized auditable uneditable history of transactions
- Its centralized and editable
- efficiency and accuracy of transactions (this isnt “good” for all business’s though
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- The blockchain remembers what actually happened, not what’s claimed. What happened is printed into the blockchain, and not editable.
- Because someone is in charge of the database and all the information can be removed or edited.
- It allows all parties to easily verify the information that they are presented with. It also makes accounting and auditing possible to compound with the transaction that has to be accounted and audited automatically.
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Digital provenance is enabled through the blockchain because all transacitons or data points are added to the ledger, and are set ‘in stone’, unable to be altered or removed. Where there are lots of copies of a blockchain on nodes the information can’t be disputed.
A normal database can allow for information to be edited, removed, or lost if the owner doesn’t back it up properly.
Digital provenance is a benefit to many businesses because products or services can be offered which are trustless – for example the ingredients in food can be described with 100% accuracy. There’s also the possibility of real-time auditing.
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A blockchain is a public and de-centralized database: it lives everywhere and nowhere, distributed among the community of adopters and contributors. It is owned by everyone and no-one.
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The data is public and auditable by anyone.
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Blockchain technology stores data immutably. New data can be added (if consensus is reached among enough validator nodes), but existing data cannot be edited nor deleted by anyone (unless they were able to hack the system).
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Data in a regular database is mutable via CRUD (Create, Read, Update, Delete) operations by whomever has access and authorization to do so.
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The database is owned and controlled by a central authority (e.g. a company). The combination of data mutability and centralized control implies that to trust the data, we have to trust that the authority (i.e. that it did not change the data).
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A normal database is private. Data is closed off from public scrutiny via authentication gateways, ensuring control stays within the central authority. Data is therefore not openly auditable: it requires permission from the central authority (or compliance, if requested by governmental agencies).
- With digital provenance, companies can do business without having to trust blindly what the other party says. Businesses and 3rd parties can openly audit the data on the blockchain.
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1 : By it’s decentralized nature, nobody can change past events on a decentralized blockchain
2 : A normal database has central control, therefore can be cheated
3 : Because it removes the need to trust a transacting partner on his word, its removes friction caused by middlemen.
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1.- For the same reason that its free of censorship, becases its transparent and open to everybody and the information it travels in a single dirección.
2.- It would have to be an opensource/descentralized, formed by millions of computers with the unique interest Of improving the system so everybody wins, then it would be a blockchain.
3.- It does not make mistakes/errors, has no intermediaries (safe time and money) and traces the process form the start to finish.
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- How does blockchain enable digital provenance?
The data entering blockchain are recorded in open ledger and confirmed by the network. It can be tracked but can’t be changed.
- Why doesn’t a normal database bring the same provenance?
Classic database can be easily altered.
- Why is digital provenance such a great benefit to many businesses?
Digital provenance removes the need for trust. It allowes to companies and auditors to validate supply network.
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- How does blockchain enable digital provenance?
-> Blockchain enable the trace of digital provenance by being a decentralized network, working as an
database, with multiple usecases. Tipical fields are finance and supplychain usecases.
- Why doesn’t a normal database bring the same provenance?
-> Normal databases doesen’t bring the same provanance as blockchain technologie because of its
decentralized structure. By example you could imagine a normal database is beeing controlled by
somekind of admin or company. If the owner of the database desides to change any information that
is written down on the database a thrid party could never know if the provided inforamtion has been
changed or manipulated in the past. This is one of the key advantages that is provided by
blockchain that normal databases are not capabile of.
- Why is digital provenance such a great benefit to many businesses?
-> The posabilities that are comming with digital provanance can generate such a great number of
improvments to a lot of businesses is because of its decentralized manner. Auditings could be held
on projects in minutes, transactions could be held public, if needed, and any kind of supplies could
be traced all over the world in real time. Save and without any further trust on third parties needed.
We may will see benifits in many fields as in medicine, public healthcare or pharmaceuticals in the
future.
CryptoSpencer.
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- The data can only be added along with real time tracking, auditing and verification of transactions
- The data can be changed in a normal database
- Provides transparancy and real time info for customers for a better user experience
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How does blockchain enable digital provenance?
Ans: Blockchain enables digital provenance by allowing users to track the items in a supply chain, for instance. It does so because a blockchain is immutable and one can only add transactions to it but not delete it, hence allowing users to see where the first few transactions took place. -
Why doesn’t a normal database bring the same provenance?
Ans: Because a normal database may not be public and may not be able to be verified by anyone and everyone. -
Why is digital provenance such a great benefit to many businesses?
Ans: Digital provenance is such a great benefit to many businesses because it doesn’t need the businesses to trust their suppliers when it comes to the origin and tracking of their items being supplied. Moreover, digital provenance allows businesses to track and verify that a particular item actually came from a certain location that their supplier is claiming it to have come from.
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- How does blockchain enable digital provenance?
It allows for a decentralized and immutable public ledger. It’s a public ledger where everyone has the same record. It’s decentralized where the network has to reach a consensus to add new information. It’s immutable where nobody can remove or change information. - Why doesn’t a normal database bring the same provenance?
Because a normal database is centralized where some authority can make whatever changes they want to the network without it reaching a consensus. So it’s totally based on trust. - Why is digital provenance such a great benefit to many businesses?
Because they and their customers can be certain about things without having to trust a central authority. They can be certain about where their ingredients are coming from or where their tax money is going.
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How does blockchain enable digital provenance?
It is decentralised and is trustless. There is no central authority who can change the information or database, records are permanent. Therefore Immutable. -
Why doesn’t a normal database bring the same provenance?
It has a central authority who can change & manipulate the data. -
Why is digital provenance such a great benefit to many businesses?
A business can see the supply chain and information flow. They do not need to trust their supplier for where goods are from or what ingredients have been used. There is real time audit & the data can be verified.
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1.How does blockchain enable digital provenance?
Blockchain enables digital provenance as it as it is a database that can be added to but not removed from.
2. Why doesn’t a normal database bring the same provenance?
A normal database can be manipulated or altered whereas the blockchain can’t be.
3.Why is digital provenance such a great benefit to many businesses?
Digital provenance enables real time auditing, traceability and verification (trustlessness).
Whilst some professions will become more automated or even obsolete, most businesses will benefit from being more efficient and streamlined, have less disruption during annual audits for example and peace of mind in their supply chains as will their clients / customers.
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block chain enables digital provenance by tracing financial transactions.
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a normal data base does not bring the same provenance because details may be missing while a blockchain has the public ledger which gives more detail and efficiency that cant be erased.
3.digital provenance provides benefit to businesses
by being able to be trace where items came from for example the information is there for everyone to see making things trust less, Dont trust verify .
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Blockchain is a public ledger where transactions can be added but not removed therefore every transactions can be trace back.
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A normal database does not bring the same provenance because is not always public and transactions can be removed so it is not transparent.
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Digital provenance is a great benefit to many businesses because it gives transparency of the all history of transactions.
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By making some information public, which allows anyone to trace the path of an item to its origin.
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Normal databases are centralized and private - only the owner has access to the information contained within them.
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It allows honest businesses to prove the source of their goods. It also allows purchasing businesses to validate the source of whatever they’re buying.
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Blockchain is a decentralised technology and as every transaction is written onto the blockchain you just have to verify provenance - so its trustless.
A normal database is owned by some organisation/company/person - changes can be made - things can be removed and therefore you have to trust the owner of the database and have no real guarantee of the provenance.
Digital provenance brings the benefit of real time auditing to the business and cuts costs due to the fact that they do not have to pay for audits by other companies. In addition I would say the transparency the company provides on the market and for the customer could be a great marketing/image benefit.
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Homework on Provenance - Questions
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How does blockchain enable digital provenance?
Real time auditing, it will change the financial system as we see it today. All major banks will have to adopt to blockchain technology in the future. Provenance it’s also an accessible de-centralized immutable ledger. And things like, tracking, ingredients, clothing, parcels will be a lot more innovative. -
Why doesn’t a normal database bring the same provenance?
Because normal traditional databases can crash, lose data. Be easily overwritten, easily copied and hacked/attacked. -
Why is digital provenance such a great benefit to many businesses?
Immutability, real-time tracking, auditing. Remove the “trust” variable and enables the verification function.
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Homework on Provenance - Questions
- How does blockchain enable digital provenance?
All blockchain transaction are public and immutable meaning that all the information stored on each transaction can be tracked by anyone.
- Why doesn’t a normal database bring the same provenance?
Databases are centralized and can be changed without consensus and users have to trust the organization that maintains the database.
- Why is digital provenance such a great benefit to many businesses?
Allows businesses around the world to verify traceability in real time, reducing costs and risks.
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