unconfascateable value transfer
permissionless
immuteable
protects citizens from goverments
trustless and verifiable
bitcion gives users the ablity to own a swiss bank with many swiss bank accounts
bitcoin can not be debased or inflated
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- How does blockchain enable digital provenance?
Blockchain is an immutable (write-only) ledger of transactions open to the public to view. Every transaction can be traced back to its origin.
- Why doesn’t a normal database bring the same provenance?
Centralized databased cannot be verified behind the walls of a company. Companies can fake their accounting information merely by changing the value of a field in a database. Blockchain databases are public, and all transactions can be cryptographically verified. This creates an environment of radical transparency, in contrast to the current situation of big companies like Facebook, Apple, Google, etc. where they can do whatever they want to their database behind closed doors without any external oversight.
- Why is digital provenance such a great benefit to many businesses?
Banks and publicly traded companies need to pay billions of dollars to auditing companies to audit their databases. Blockchain technology can nearly eliminate this cost since all the data is constantly being verified by miners.
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- How does blockchain enable digital provenance?
Permits tracing and public transparency of digital transaction. A feature that is expanding into tracing things beyond currency transaction to things such as ingredients in food, or your clothing.
- Why doesn’t a normal database bring the same provenance?
A normal database is not publicly accessible, the blockchain is.
- Why is digital provenance such a great benefit to many businesses?
Real time auditing, therefore eliminating the need for time consuming conventional audits carried out by companies like PWC and Deloitte.
In the case of a food company, it could help them identify items/ingredients along the entire supply chain. This gives companies certainty over the composition of their product, and confidence then in selling a verified product to the consumer.
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- The ledger stored on a blockchain is inherently immutable which in turn allows data to be traceable and verifiable.
- Data in a normal database can be edited, removed, or added by any party with access to the database. It requires trust.
- Removes the need for trust.
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- Blockchain = public ledger so openly verifiable and immutable
- Normal database is not open to everyone
- Ability to prove prove in an efficient manner
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How does blockchain enable digital provenance?
It removes the need for a third party to verify transactions. It removes the need for us to trust that third party and have absolute certainty over transactions. -
Why doesn’t a normal database bring the same provenance?
A normal database is open to manipulation. Previous records and accounts can be altered to suit the required conditions at the time. -
Why is digital provenance such a great benefit to many businesses?
Considering all that is going on with food supply chains these days (stockpiling) it seems to be a perfect example. Digital provenance would allow wholesalers and supermarkets to plan according to real time conditions. It would remove the element of guessing and could possibly remove lag in the chain.
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- It enables anyone to verify an immutable ledger and the order of transactions.
- There are points of trust that are vulnerable to hackers and centralized malfunctions.
- It gives the ability to bring automation to audits and increasing efficiency.
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- It creates transparency and efficiency
- You can manipulate a normal database. Someone can add or change the value of a transaction to suit their needs. It requires trust in the person operating the normal database to be ethical and accurate.
- It saves time, resources, money, unethical behaviour. It removes the trust factor and creates transparency across the board
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1- through the transparency and traceability of all transactions, as well as data can only be added to the blockchain and not removed resulting in a safe reliable storing network
2-because the accounting layer and the transactional layer are stored separately and done in two different transactions as a result , it favors manipulation since the data is not completely transparent and verifiable
3- it removes the factor of trust and allows for transactions based on verfication and not one’s trust into another
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- Blockchain is like a immutable so every transaction that is written on it could never be erased. Therefore by storing each step of the supply chain one can verify the origin of each product throughout the process…
2 Centralized vs. Decentralized so a centralized database it can be hacked easily by attacked.
- Digital provenance allow us to remove 3rd party trust.
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- Using the blockchain we can now have more transparency and we have in one place all information ,like accounting and transaction is completely transparent and we can get the track of its info. Provenance is all about the statement When you can track every segment of the process you can know all the paths.
- Normal database does not have this kind of tracking protocol.
- You do not have to trust blindly to anybody , you can just check it through the algorithms.
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How does blockchain enable digital provenance?
Blockchain is a public ledger that keeps inmutable data of every success transaction made in the history.
Why doesn’t a normal database bring the same provenance?
A normal database is normally centralized and can be modified by an entity. The data could be duplicated, modified or deleted.
In blockchain, all the nodes verify that the transactions made since the beginning until the last one are correct.
Why is digital provenance such a great benefit to many businesses?
Transactions are traceable, letting users track where the product is coming from, without the need of trusting an third entity. The history is transparent.
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Homework on Provenance - Answers
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By tracking and auditing each transaction in real time (every minute, every second). Combines accounting layer with transactional layer. It is trustless.
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Because it requires trust and is opaque.
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Capable of tracing all steps and layers in transactions/supply chains, etc. and removes the need for trust. Through verification the process becomes trustless.
blockchain.Ronin
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1.how does blockchain enable digital procenance ?
How does blockchain enable digital provenance?
blockchain is a public ledger everyone can download and see all transaction in realtime , therefore there is a traceability of transactions all this is made possible by the total absence of bitcoin appropriation
2. Why doesn’t a normal database bring the same provenance
a normal database is alterable (delete, update) which is not the case for the blockchain
3 . Why is digital provenance such as a great benefit to many businesses
The possibility to do realtime audit , and the concern for transparency
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Decentralized, trust through transparence, no duplications
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Slow, data can be removed at anytime
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Tracing aspect of the technology. look what we could be doing if COVID tracing was on the blockchain real time numbers up to the minute.
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- Because it is public and all transactions can be traced and verified.
- Because you can remove data from normal databases but you cannot remove data from a blockchain
- Because you can perform real time audits, with combined accounting layers and transactional layers, making everything much more efficient
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1 - Blockchain enables digital provenance through its verification processes where independent verificators work simultaneously.
2 - A normal database can be modified, the blockchain cannot. Once a transaction has been recorded and verified it will stay in the blockchain forever.
3 - It’s a great benefit because everything can be verified without the need of a middle entity/company/organisation.
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- It becomes a trustless society by publicizing all transactions. Everything will now be decentralized and no power will be given to governments and other organizations. No transaction can be removed, only added and therefore traced back.
- In today’s databases you never know what’s behind the curtain. You can only see the outcome, but not what lead up to it. The system is controlled by governments and can easily be manipulated. Information can be lost at crashes, and tracing transactions may not always be possible.
- It creates a greater trust between buyer and supplier. Transactions are no longer hidden and can now be verified by the users. Curroption and manipulations will therefore decrease, with the hope of being totally wiped out.
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1. How does blockchain enable digital provenance?
- Blockchain will be able to combine the accounting layer with the transactional layer enabling to trace earliest history and be able to audit in real time.
2. Why doesn’t a normal database bring the same provenance?
Provenance under normal databases:
- Under a normal database - if the program crashes transaction history and data could be lost.
- Under a normal database a transaction can be erased/removed.
- A normal database lacks sophistication and facilitation to solutions, causing less trust.
3. Why is digital provenance such a great benefit to many businesses?
- It will outperform in transparency, traceability, accuracy all while adding real time auditing.
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Homework on Provenance - Questions
How does blockchain enable digital provenance?
Derived from the field of art curation, digital provenance is an unforgeable record of a digital object’s chain of successive custody and sequence of operations performed on the object. Digital provenance forms an immutable directed acyclic graph (DAG) structure. In a blockchain every block is linked to the next block, and cannot be changed.
Why doesn’t a normal database bring the same provenance?
In a normal database, records can be changed.
Why is digital provenance such a great benefit to many businesses?
Digital provenance is faster and more secure. It removes the trust people need to have in the business.
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