1-through tracing and verifying the source of goods and services registered on a public , transparent , non immutable ledger.
2-its not transparent to the public ,it can be modified and . you need to trust a third party.
3-it gives more trust to the their clients and customers to purchase their goods and services,
also the buisness owners wont have to spend money on the auditing companies to inspect their buisness and give it the title of trustworthy.
The way that blockchain enables digital provenance, is by having a public ledger. So, everything is traceable on a permanent verifiable Leger. One that can’t be modified or changed at all.
Reason why a normal database does not bring the same provenance. This is because it can be changed and manipulated.by a central authority.
Provenance can benefit companies in many ways. Provenance allows companies to accurately track everything from its origin. It provides companies with real time audits, customers can remove trust and verify where the products come from. Providing customers with the satisfaction that the product they are getting is exactly as stated by the company.
Blockchain working as a “only write” database opens way for a much more “trustable” data environment. Every business that works with is own information on a blockchain it’s much more “trustable” than one who doesn’t because, all this information can be audited in real time. Now with projects like “OriginTrail” and some others who use and/or combine data from other blockchains, we have one blockchain project with the same “trustable” data from many blockchains combine. This really augments the traceability of the information, augmenting the provenance in all the data of a giving object/product.
The information contained on a database can be added or removed by anyone with the permission to do it and normally it is related to the product or information that one produce. If you are a retailer or your product needs a lot of different items to be manufactured it is really hard to have access to all the different databases that you needed to produce the item, in the market. If there is a major problem in the storage local of the database, all the information will be probably lost forever. Those can be big problems for the provenance of you database but, the major one is really the value of the data on your database, since it is not trustless and it also takes money and third party elements to audit.
With blockchain technology all the information is stored and spread through all the node participants, it is trustless and can be real time audited at any giving time.
Provenance is one of the most demanded features of a product/information in my personal social group (Europe) and i think the demand is only going to grow, specially now and after this pandemic.
Provenance can attest the quality of a product in terms of materials, or information in terms of regulation or vice versa. When it comes through the blockchain all this information is extremely valuable due to the trustless environment and the ease of an auditory.
Example:
In the the beginning of the pandemic this year, authorities related the virus to a consumed Bat brought in a regional market in Wuhan - China but, nobody could tell were it came from (for a while) due to the lack of product provenance. This can serve as a good example of the importance of provenance to a business and all related parts.
They all check with each other to make sure all transactions are correct and it can’t be changed.
It is transparent for the public to see.
It is a great benefit for a business because you don’t need to waste money on accountants. You also don’t have to trust other businesses.
It helps track down the transactions by writing data about it onto blockchain. And there is no opportunity to erase or modify it.
Because in traditional database you can update and remove entries.
Because the source of different materials and goods can be tracked. It removes the trust element. It makes real-time auditing possible.
1.) How does blockchain enable digital provenance?
Creating transparency of data. Providing an immutable ledger of transactions that cannot be altered.
2.) Why doesn’t a normal database bring the same provenance?
They are prone to attacks and manipulation, they are not transparent, there’s a lot of trust.
3.) Why is digital provenance such a great benefit to many businesses?
Many companies will not need to be audited by firms, makes tracking expenses easier. Allows for consumers to be able to track where products came from, creating more trust.
1.) Blockchain enables digital provenance by creating a trustless system whereby validity is ensured not by faith in any institution or individual but instead by verification of entries into the blockchain. As the ledger tracks all transactions, and can only be added to, a track record of transactions is easily verified and provenance created.
2.) A normal database does not enable the same opportunity for digital provenance because a normal database is mutable. It can be changed, deleted, added to, manipulated all for any intent or purpose. It is mutable and therefore the same degree of verification is not possible. If someone could just copy and add to their record, you could not trust that the evidence is accurate and truthful.
3.) Digital provenance is such a great benefit to many businesses because it provides an unparalleled opportunity to reduce the involvement of middlemen in economic activity like supply chains. By doing so, price can be reduced and clarity of understanding can be achieved in discerned the truth behind any activity. As verification is possible, trust is no longer needed and third party expenses are also reduced. In addition, a pure accounting of all elements in a transaction can be understood. The example used in the video explains how supply chains that bring together ingredients in our food can be better understood because the different transactions that produce the chain itself become transparent. We can more easily verify that the elements desired, say for safety, quality, and value, are truly being conveyed.
By providing a trustless way to verify a transaction without a 3rd party.
A normal database is not imutable, you can modify the entries.
Reduce cost and interference of 3rd parties. Trust no longer needs to be established between parties
1-How does blockchain enable digital provenance?
blockchain enable digital provenance by the public ledger and it is decentralized so there is no authority or control .
and this trust less public ledger enable digital provenance by making transactions verified , trusted and trackable .
2- Why doesn’t a normal database bring the same provenance?
normal database doesn’ bring the same provenance because it loss the digital decentalizaton and verifacation .
3- Why is digital provenance such a great benefit to many businesses?
Digital provenance such a great benefit to many businesses bacause of the following:
How does blockchain enable digital provenance?
The better question is how doesn’t blockchain technology enable digital provenance. Blockchain has the power and ablility to show a chronology of ownership, custody, and location [AT THE SAME TIME!!!] of an object or a good. The examples given in the video with audits was spectacular. We wouldn’t have to wait for Trump to release his tax information, we could see it and the chronology of his taxes right away. This is HUGE!
Why doesn’t a normal database bring the same provenance?
A normal database is centralized and in control of an authority figure. There is too much emphasis on trust with a database. The database can be manipulated and altered with an opportunity for no verification. Normal databases are old technology.
Time for an upgrade. Blockchain provides an opportunity for open verification.
Why is digital provenance such a great benefit to many businesses?
It can be a benefit to some businesses, and a detriment to others. Digital provenance can solve many problems at the same time (chronology of membership, custody, and location of an object or good) much more efficiently and SECURED. It would be cheaper for some businesses to utilize the blockchain technology for provenance in their business.
I think your comment on the public ledger is key. Power to the people, not businesses.
For you answer to 2- don’t forget the importance of “trust” we the people put in the centralization of this database.
I like how you said “this is the future”. It really is! something so cheap and powerful, the world must know of these powers.
I could not agree with you more. The technology we have been using (normal databases) clearly do not work and are too easy to manipulate.
blockchain enables digital provenance by tracking financial transactions that cant be removed
regular databases can lose info by being removed or lose of power and cant be tracked
its a great benefit for costumers and businesses because its tracked and have info on the product purchesed
How does blockchain enable digital provenance?
Blockchain enable digital provenance through the data base that keeps track of every transaction and never remove data there you can track every coin’s journey.
Why doesn’t a normal database bring the same provenance?
A normal data base transactions can be remove due to if the data base crashes.
Also wouldn’t have system integration to trace every transaction.
Why is digital provenance such a great benefit to many businesses?
This helps them do real time auditing with transactions and accounting in one. The traceability of funds.
Because it´s not erasable, can not be altered and it´s public
Brcause data can be replaced or erased and it´s not public in most cases
Because they can track proucts since step one and also their customers witch add transparency and trust to the all process / product
Since the blockchain keeps track of each transaction that happened in history, by storing the confirmed transactions in a chain of blocks, where blocks contain the transactions, provenance (or origin) of anything that has its information stored on the blockchain can be traced back by following the transactions back in history.
A regular database can not provide the same provenance because regular databases are: