- It allows all transactions to be open to the public, yet anonymous.
- Because a normal database is siloed, closed to the public, and only accessible once granted
permission. It would be impossible to have provenance with a closed database due to the each
party using incompatible systems that don’t talk to each other. - It reduces cost and possibly time by removing trust; basically, no more middle man.
A reduction in cost improves profit & most businesses have a primary aim to make profit.
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How does blockchain enable digital provenance?
By tracking every transaction written on the blockchain (can’t be removed) -
Why doesn’t a normal database bring the same provenance?
A transaction on normal database can be changed or removed and can be lost but the decentralized side of the blockchain can prevent this. -
Why is digital provenance such a great benefit to many businesses?
Businesses will not rely on trust but on real data (can be audited easily)
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1- through a descentralized data base that is open to the public and can trace ALL the transaccion
2-Because a normal data base is opaque. In a normal data base you can delete and change transactions, in the blockchain you can’t.
3- Because the blockchain brings you ALL the information that you need for your transaction or product.
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It is an open database where anyone can see any transaction. So this enables users to track and verify the transaction instead of trusting that it occured
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the database is a centralized base with an administrator where you can add, edit or delete anything. while blockchain is spread out in a network and it only allows adding the transaction
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it allows business to make their jobs more efficient through faster and open transactions.
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1 - blockchain enable digital provenance by tracing transactions and information in real time that cannot be changed.
2- Because the information, transactions in blockchain cannot be changed or manipulated like in the normal databases.
3- Because business now can provide goods with ingredients that were truly added and that build trust in the consumer.
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[quote=“ivan, post:1, topic:8423, full:true”]
Homework on Provenance - Questions
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How does blockchain enable digital provenance?
-Because blockchain is a digital ledger, it tracks each transaction from it’s location and time. This is then embedded into the blockchain forever and cannot be changed, thus providing provenance. -
Why doesn’t a normal database bring the same provenance?
-A normal database is centralized and would require trust. With blockchain there is no third party that could alter any information, bringing perfect provenance to blockchain, but not to a normal database. -
Why is digital provenance such a great benefit to many businesses?
-Digital provenance would be able to provide the business and consumers access to information not previously accessible. Jewlers could know if their diamonds came from child labor, dairy consumers could know if their cow came from a grass-fed farm, etc.
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Because not only the transaction but the accounting can be recorded together, and info can be added but not removed or changed
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Because in a normal database information can not only be added but also removed or edited, and so it requires trust
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Digital provenance means you can clearly see the origin and history of something. The value is that you can rely on it in a trustless way.
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Its all about the trustlessness and that you can verify everything on the blockchain yourself and thats game changing that no central authority can manipulate any data or information in the blockchain itself.
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A normal database can be changed and manipulated to the benefit of the central authority and therefore you could not verify and have to trust what the data tells you.
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Its a great benefit due to the trace ability of anything that you or anyone can verify it on the blockchain and that it brings real time auditing that will save a lot of time when accounts can be audited instant.
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How does blockchain enable digital provenance?
by being decentralized and immutable.
Why doesn’t a normal database bring the same provenance?
things can be changed deleted or amended, human incompetence and skulduggery can take place.
Why is digital provenance such a great benefit to many businesses?
speed of accounting, reduced employee numbers needed, money saving, accuracy for instant business decisions, clarity of impact on business.
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- The blockchain enables digital provenance thru transactions that can withhold more information whit in the blockchain.
- traditional transactions can not hold the necessary data to verify the initial source of the various products that are in the end product.
- The fact that there is no need for trust in the supplier. There is less chance of corruption and theft. Far more superior bookkeeping.
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How does blockchain enable digital provenance?
It is immutable, like text written in stone cannot be undone. Can be accessed, though, from all participant actors, so all activity can be traced.
Why doesn’t a normal database bring the same provenance?
Is centralized and therefore under somebody’s authority and can be mischievously or carelessly misused.
Why is digital provenance such a great benefit to many businesses?
fast, nonbureaucratic, accurate, clear
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- Bitcoin enables digital provenance by sending a records of each transaction to all ledgers associated with the bitcoin network. All records are stored on all ledgers and can be accessed by anyone wanting to verify the data.
- A normal database doesn’t provide the same provenance because it usually is a private database. That is, most people are unable to verify the records to be true or accurate.
- Digital provenance is a great benefit for businesses because it allows them to keep track of many thing regarding, such as were thing come from in their supply chain. By being able to track, there is no longer the need to trust items or organizations.
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- How does blockchain enable digital provenance?
- By way of determining the truth by tracking all transactions/information to its origin point in a decentralised way. "You don’t have to trust a third party or person/entity directly on its claim where the transaction/information came from.
- Why doesn’t a normal database bring the same provenance?
- Because a normal database is centralised ( meaning there is a single authority or person in control ). Enabling whoever has access to edit the database to commit Fraud or in any other way manipulate the data in said database.
In the current system this requires middle men to audit such information, however a auditor is still a centralised authority. Meaning they can still produce false information on what they audit.
- Why is digital provenance such a great benefit to many businesses?
It can remove friction by way of operating in a TRUST-LESS manner.
Potential use cases for provenance with blockchain include but are not limited to:
- Preventing corruption.
- Authenticating origin for data, products, transactions, medicine, food, etc.
- Cutting out middle men and remove friction in the market and or system.
- Transparent voting/elections/polls.
- Preventing crime
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1 blockchain enables digital provenance by keeping an immutable record of transactions on it
2 a normal database can be changed unlike the blockchain
3 it allows for real-time auditing
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- How does blockchain enable digital provenance?
By using a public ledger to record transactions it leaves a permanent audit trail that can be accessed at anytime - Why doesn’t a normal database bring the same provenance?
A normal database allows read edit and delete access so and is centrally managed therefore what you see is not necessarily what’s was first recorded. Also they are typically private and therefore inaccessible - Why is digital provenance such a great benefit to many businesses?
It removes the trust element from transactions and allows direct verification which should reduce audit costs as they can be done independently and real time
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- Blockchain stores information about past transactions and since it is decentralized no one have control over it. Also it is more transparent and you can see the transactions.
- Normal database is centralized, somebody owns the database and can change or delete data as they want or don’t need to allow access to the database for others.
- Safer, trustless, track in a real time.
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Blockchain provides a digital tracking record so you know where it has been, where it will go and where it is.
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A normal database is centralized and you must trust that the data input by the system is true and accurate. It can be altered after the fact and does not keep a record of changes made.
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It’s more reliable so the customers know they can trust the information.
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How does blockchain enable digital provenance?
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Why doesn’t a normal database bring the same provenance?
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Why is digital provenance such a great benefit to many businesses?
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- It creates a authentic record of ownership that is decentralized and completely trust-less.
- Because it can be manipulated by bad actors and cannot be completely verified.
- It saves money through accounting and auditing expenses and eliminates the need for trust and/or error.
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No one controls the blockchain. It is a public ledger that verifies transactions and is trust-less from its origin.
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Nothing can be subtracted from the public ledger. Transactions that are not possible will never be able to be completed in because the ledger knows everything on the chain. You simply cannot lie.
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Businesses need to currently be audited which is an expensive process and leaves room for errors as well as lies. A more honest approach is blockchain and it really prevents businesses and the fallibility of humans from being part of the equation of doing business. It builds a better and trust-less world that humans are currently inherently incapable of achieving on their own.
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Homework on Provenance - Questions
1. How does blockchain enable digital provenance?
- Blockchains enable digital provenance by distributing their knowledge of a given ledger (or whatever information is stored on a given blockchain) to a wide array of networks/computers/nodes. This theoretically eliminates or at least drastically reduces the possibility of a bad actor maliciously altering the information stored on the blockchain.
2. Why doesn’t a normal database bring the same provenance?
- Normal databases typically have a single point of failure. Weird example, but let’s say you have your files hosted on a server at Company A and Billy Joe Bob, their IT guy, gets fired. Billy Joe Bob is FURIOUS at Company A and decides to do some sneaky altering of files on the server via some crazy code he put in there just in case. I know, this is a weird example hahahaha but OK if that happens your information is ruined. If there are tens, hundreds, even thousands of different PUBLIC networks or nodes that hold a record of that exact same piece of information via a blockchain then you’d have to have tens, hundreds, even thousands of disgruntled Billy Joe Bobs to bring your provenance down to the same level as a normal network
3. Why is digital provenance such a great benefit to many businesses?
- Digital provenance greatly reduces the need for third party validation of information. It can also help to reduce the required level of TRUST that businesses want to provide their customers with and replace that with an even better level of CERTAINTY. A fantastic example is ingredients lists on products and “Made in ____” tags on clothing. How do we know this was made in the USA? We just have to trust the label. How do we know this is gluten-free? We just have to trust the label. Digital provenance on the consumer level could eliminate this need for trust.
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