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By providing a public permanent ledger
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Because a normal database is centralized and can be manipulated by a third party
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Because it nullifies the need for trust in anything else than the system and rids operations of human error
1- Being (hopefully)decentralized, the machines participants in the network audit themselves
2- Because a centralized and mutable database can be manipulated
3- Third party trust is removed from the system
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Being a trustless system, real time tracking and verification in one transaction.
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Normal database is single transaction, relies on trust.
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Provides efficiencies not currently available. The ability to track in real time and includes the accounting and transaction together. Eliminates the need for auditors.
1.Blockcain is a decentralized database that is like a stone, you can add information but it cant be erased. All info/transactions are verified by a network of computers, without government involvement.
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A normal database does not bring the same provenance because, information can easily be manipulated, duplicated or erased, it can be hacked and overall not very reliable or transparent.
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The provenance aspect can greatly benefit to businesses because there is no third party involved, it audits financial traces in real time, therefore instant verification, less time is spent tracing and overall its transparent and increases confidence and trust.
Homework on Provenance - Questions
- How does blockchain enable digital provenance?
Blockchains are built where future blocks are added to the existing database while maintaining the history of all previous blocks of data.
- Why doesn’t a normal database bring the same provenance?
Standard database models have no limits on data amendment. Standard database models can restrict access to certain data criteria which limits its verifiability.
- Why is digital provenance such a great benefit to many businesses?
Digital provenance enables business to trust in verifiable code with predefined terms. This will be a critical evolution of a multitude of business as they continue to refine accuracy efficiencies.
- Blockchain enables digital provenance by its open ledger, every step of the transaction is verified by other users within the blockchain.
- A normal database lacks the ability to publicly track the transaction from start to finish, it also lacks the ability to create an open audit of the transaction.
3.Digital provenance has many benefits. such as publicly tracking ingredient’s in food, or tracking where clothing has been made, or tracing the ingredients in your vitamin supplements.
> 1. How does blockchain enable digital provenance?
It enables it by being open lager. Every transaction is recorded, the records can not be erased or changed by any Government officials or Authority, the information can be traced and tracked in real time auditing and its open and available to anyone.
> 2. Why doesn’t a normal database bring the same provenance?
A normal database information can be erased, changed, hacked, lost. It can be manipulated and controlled by Central Authority. Lots of trust involved and opaqueness.
> 3. Why is digital provenance such a great benefit to many businesses?
Digital provenance is such a brilliant benefit to many businesses because its transparent, trust less and decentralised. Brings so much more value and efficiency to the processes and allows you to trace detailed information of the businesses and products.
For example, you do not need anyone who goes through your accounts. You have more time for other tasks and you can rely on the data you get.
- You don’t need to trust. All you need to do is use the math to varify.
- There is nothing to prove that thay are telling the truth. In the block-chain you can track in real time wear transactions go.
- Because there is no way to cheat.
Provenance Homework Questions:
- Q. How does blockchain enable digital provenance?
A. Blockchain enables digital provenance by acting as a digital ledger. With blockchain, users have access to a universal database of crypto transactions that can not be tainted by a certain company or person. The realtime auditing that blockchain brings will keep users up-to-date with where a product was manufactured, sold, bought, etc. - Q. Why doesn’t a normal database bring the same provenance?
A. Normal databases do not bring the same provenance that bitcoin does because of the trust factor behind it. People must put there trust into a certain bank or advisor with their valuable information regarding finances. With blockchain auditing, the trust factor comes to an end. Users learn to trust less and verify more. - Q. Why is digital provenance such a great benefit to many businesses?
A. Digital provenance is a great benefit to many businesses since the history of a certain product is now at their fingertips. Businesses will now be able to know where a product was manufactured and the manufacturer of a certain product without putting their trust into a certain person or organization.
Blockchain enables digital provenance by creating a mathematically encrypted public ledger or database that can verify all transactions by decentralized nodes.
A normal database or centralized ledger fails to bring provenance as its not a distributed public ledger that can be verified by mass consensus.
Digital provenance creates opportunities for businesses to provide proof of product through supply chain technology. Effectively separating them by creating a higher standard.
- How does blockchain enable digital provenance?
You can track every single step of a product or transactions from the very first moment of existence to completion or delivery.
- Why doesn’t a normal database bring the same provenance?
Because the elements in a normal database can be deleted. Blockchain is a database whose elements or transactions can only be written but not deleted.
- Why is digital provenance such a great benefit to many businesses?
¡Imagine! Ivan will be able to know exactly where, when and how his coffee was made.
- By being able to track transactions that can never be deleted.
- Normal databases can be deleted or data manipulated to change an outcome.
- It allows the accounting layer and transactional layer to work in conjunction. This way, an audit can be done on the blockchain which would lower the expanses of doing a normal audit on a large corporation.
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Blockchain enables a digital provenance through the inability to change what has already been recorded. This goes back to the slogan that is referred to, “Don’t trust… Verify.”.
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Normal databases don’t bring the same provenance because they rely on a central authority which can control transactions and/or make changes to records. This reflects the ideas that normal databases are based on trust and not record.
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Digital provenance is such a great benefit to businesses because it allows business transactions between two parties to be more transparent and more efficient. Everything is traceable and doesn’t have to be based on trust. Eventually we could reach a point where real-time auditing For companies occurs alongside their transactions that are being made because records are being recorded as transactions are being made and are unable to be changed.
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How does blockchain enable digital provenance?
Blockchain requires all transactions to be publicly recorded and to be verified to be true before the transaction can take place. -
Why doesn’t a normal database bring the same provenance?+
Normal databases are not verified to be true across several different verification points. -
Why is digital provenance such a great benefit to many businesses?
Using the blockchain (ledger) to record transactions proves the intentions/transactions of the business. It is a mode of business that removes the “need to trust” factor to interested parties t of the business. Anyone interested in the actions of the business doesn’t need to Trust, actions can be Verified.
- Blockchain enables provenance by verifying transactions instead of trust.
- Because a normal database is quite opaque and takes long times to audit, instead blockchain can be audited at all times and it flaws human mistakes and it can’t be tampered with afterwards. Once it’s on a blockchain, it’s just there until the lights go out
- It does not take any processing by humans to verify the stored data.
- The ledger keeps everything that once have been stored/added and when added cant be erased.
- A “normal” databases information can be manipulated and the hardware/software can crash and the information will be gone.
- It removes the time and capital companies nowadays excerpt in order to find and trust business partners to trade with. Everything is/can be traceable wich means you can make an assestement fast and accurate.
- How does blockchain enable digital provenance?
Information can be added but not removed so you can verify information - Why doesn’t a normal database bring the same provenance?
It can be modified - Why is digital provenance such a great benefit to many businesses?
As client or costumer you can verify instead of trusting
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How does blockchain enable digital provenance?
Digital provenance refers to knowing where a transaction originated, it’s owner, and it’s authenticity. Putting a digital transaction in a blockchain ensures the transaction is permanently logged, is permanently available in a public domain, and also autenticates the transaction creator as the blockchain is immutable once created. -
Why doesn’t a normal database bring the same provenance?
A normal database is not centralized and so a transaction can be edited or lost either willfully or through human/machine error. Also there is no way to verify the origin or authenticity of a transaction. -
Why is digital provenance such a great benefit to many businesses?
Digital provenance removes a big problem that is counterfeiting both for the business owners as well as customers. Any product or transaction can be easily verified with respect to source and authenticity very easily.
[quote=“ivan, post:1, topic:8423”]
Homework on Provenance - Questions
- How does blockchain enable digital provenance?
You can’t remove out of the ledger only add in distributed ledger. Changes in the ledger are set in stone. - Why doesn’t a normal database bring the same provenance?
It’s a centralized database. The blockchain is a distributed ledger. Each node has a copy of the database. You can’t remove only add. In centrale database you can also remove. - Why is digital provenance such a great benefit to many businesses?
Don’t trust but verify. it’s trustles. There is no central authority needed.