Blockchain technology is a public and trasparent ledger where all the transactions can be traced from anyone.
A normal database is centralizet, which means can be hacked and manipulete, aslo requires trust.
3.This database doesn’t need to be trusted, the customer can have access to all the informations on the public ledger, regarding items or products used from the businesses and it can actually verify all the features and proveniences immediately.
Blockchain allows transparency tracking transactions for instance, allowing to know who dit the transaction, for who, what sort of transaction. It also allows to track provenance of food, clothes etc. Everything written in the blockchain cannot be removed.
A normal data base cannot allow the same confidence than a Blockchain. Indeed, in a Blockchain, we can add data but not remove it contrary to a normal data base. Thus, every falsification is possible and makes it hard to verify the pertinence of data all the more so as it is not decentralised.
Digital provenance is a great benefit to many business because it brings transparency and security. Financial area, supply chain, are two of the many domains where we can use blockchain and know the whole processus from scratch. As a consequence, customers will trust more the company thanks to the quality and ethics of its products.
thanks! I listened to the clip again…
How does blockchain enable digital provenance?
By having all transactions verified and recorded in a trustless, digital public ledger that is maintained by a network of computers/nodes. Verified transactions are recorded permanently and bad transactions are rejected/ignored by the network.
Why doesn’t a normal database bring the same provenance?
Records in a normal database can be modified by individuals who have access to the database.
Why is digital provenance such a great benefit to many businesses?
Trust between parties does not need to exist. All transactions are recorded and verified by the network which can never be removed. This provides an avenue for businesses to have live, real-time auditing to be performed against the public ledger at any time. Also, digital provenance can be used to track and verify histories of businesses’ supply chains.
Blockchain is a trustless ledger that stores all the information and cannot be changed, only add.
everything is inside the blockchain so provenance can be tracked and trusted.
The blockchain ledger however is auditable in realtime.
Other traditional databases are centralized and can edit and delete containing information
Its good to not have third party’s involved to have acces to information because all the data is available trough the public ledger. This transparency is 100% trusted and can also prevent corruption in any form
The blockchain is immutable and decentralised, thereby offering a trustless system that can be accessed at any time, from any location, by anyone on the network.
Centralised entities that maintain these databases often have an agenda and/or bias that may result in certain information being altered or removed should it benefit them.
Blockchain technology offers greater accountability, traceability, transparency, reliability, impartiality and most importantly it is immutable.
Enable provenance of a transaction. Transaction cannot be removed from the blockchain. Every transaction is trackable
Normal database does not bring the provebance, because a transaction can be removed or canceled. A normal database is not decentralized.
What is the great benefit? Don’t trust, verify! We can do realtime audit on the blockchain.
Why doesn’t normal database bring the same provenance?
Answer to 2. Normal database is centralized not it is not open ledger verifiable by the public or anyone and can be deleted or modified, tampered, manipulated or edited to satisfy human conflicts of interest. Therefor not reliable.
Why is digital provenance such a great benefit to many businesses?
Answer to 3. There are many benefits, that can be applied all across the industrial, food chains, manufactures of goods in various ecosystem,… for example to enhance quality standards, to preserve these standards that can be audited for validity and authenticity of its origin, trade mark…
Thank you Ivan
Blockchain authorises provenance by keeping an open public ledger of immutable data where it can be traced.
There are central Authorities that control it, which could lead some sort of corruption during transaction
Great uses to businesses because it can trace financial transactions, There would be live auditing, Public Ledger where everything can be tracked of the supply chain.
Blockchain enables digital provenance because the ledger is public, and it is like stone. Once a transaction is verified by the other ledgers/nodes it can never be erased or altered.
A normal database can be altered and is run by a central authority, company or government. With a normal database you have to trust someone or something. With blockchain you do not trust the system verifies!
Digital Provenance benefits businesses because it saves so much time. The account and transactions become one and they are constantly audited. The is no guessing or surprises. Everything can be tracked and verified.
1/. Real time record
2/. It can be corrupted
3/. Trustless
Blockchain enables digital provenance by allowing you to track the origins of each transaction.
A normal database allows you to both add and remove data, so it is easier to hide transactions or data that has been entered.
It allows transactions to be audited in real-time, with both the accounting and transaction information written to the public ledger at the same time, eliminating the need for an outside, third-party auditor to review the bookkeeping.
I’m new to crypto any corrections or feedback is greatly appreciated.
How does blockchain enable digital provenance?
Blockchain enables digital provenance by having a “Trustless” system on a public decentralized network. This allows for a more efficient way of auditing transactions in real time.
Why doesn’t a normal database bring the same provenance?
A normal database doesn’t bring the same provenance because in the current system the two parties exchanging must trust a third party to verify a transaction, whereas on the blockchain network there is no middle man thus the exchange can be processed in real time.
Why is digital provenance such a great benefit to many businesses?
Digital provenance is such a great benefit to many business because it speeds up all processes related to business. Why wait a week or two to wire or receive your own funds in 2020? Or cashing out a check for example, the middleman holds the money for a few days. This is inefficient because in that span of a week the balance could have grown or debt can be paid. Another one of many use cases is in the food industry. 30% of food chains do not know exactly where their product comes from. Food chains are now able to track where their products are in real time. This allows the consumer to stay away from products that are produced from unsafe working conditions or don’t meet health regulations. Also, a food chain now has the security measures in place to track where stolen goods are. Therefore, the business is reducing unnecessary losses, customers are ensured the highest quality product/service, resulting in a happier customer experience and easier adoption of a better system.
[quote=“ivan, post:1, topic:8423, full:true”]
Homework on Provenance - Questions
Blockchain allows for decentralisation and trustless platforms through data validation on a public ledger.
With blockchain, databases become incorruptible and eliminate the centralised authority required to establish trust between two parties
It increases efficiency and allows for something better and more profitable for human society then what we have right now