All transactions on the blockchain are stored and cannot be removed or changed after being confirmed, everyone can look on the blockchain to find all the transactions.
its all decentralized.
in a normal database things can be removed or changed, not everybody can look in every database.
3.it can save a lot of cost for book keeping and you dont need an accountant and al receipst of everything you purchase.
everything is stored for you.
1. How does blockchain enable digital provenance?
Digital provenance is possible due to Blockchain being able to provide complete transparency and traceability. This is possible through Blockchain being a de-centralized public ledger database that cannot be altered or changed. The Blockchain can only have transactions added, not removed.
2. Why doesn’t a normal database bring the same provenance?
Normal databases are centralized, stored in a single location - setup, controlled and managed by a sole entity, either a company or an individual.
Normal databases can be hacked, copied, edited and manipulated, Blockchain public ledger databases are a decentralized network, that is not controlled by a sole entity. Entries on the Blockchain database past and present - cannot be altered.
3. Why is digital provenance such a great benefit to many businesses?
Blockchain puts the accounting layer and the transaction layer together, providing real-time auditing of each transaction. From financial transactions to origins of food in the supply chain.
Blockchain makes digital providence possible, with each transaction and source of supply being fully traceable and verifiable. Business relationships are based on the verification, not trust. Blockchain also provides ease of accounting and accuracy, with real-time auditing through the transaction layer and accounting layer – being together.
Blockchain is the database where all bitcoin transactions are stored and all of these are completely open to the public, so anyone can verify all the transactions.
A normal database is centralised, there’s a central authority that can control it, a transaction can be removed or erased and can easily be manipulated.
Because of transparency, it is not based on trust, it is verifiable. It can bring customers satisfaction and can help with their purchasing choices because it can verify the claims of authenticity, production etc.
Because blockchain technology makes provenance transparant and verifiable by everyone in the network.
Because in most cases a normal database is not as transparant as blockchain and can often only be verified by a few stakeholders/administrators. It’s based on trust and not mathematical verification. In other words: with a normal database you never really know for sure if it works honest and accordingly (and that’s not the same provenance).
Because you can have more control and transparancy over the transactions you make with others directly (so without the middle man
). ‘Others’ such as suppliers, customers, stakeholders and also employees.
There is no need for a third party to verivy the transactions anymore (which in most cases saves you a lot of time and money!).
Blockchain is decentralized and stored on many different nodes. making it impossible to hack. Once information is added to the B/C it can not be removed.
1.- In the blockchain every transaction is verified by all nodes and can’t be deleted and is also publicly open to anyone.
2.- Because in a normal database you can just delete previous data or manipulate it. Once a transaction is written on the blockchain data it can’t be edited or deleted.
3.- Because the intermediate is becoming obsolete. You don’t have to trust a third party, the blockchain verifies transactions or information automatically which gives great benefit to the customer because he can be sure about the information on the blockchain being true and verified
How does blockchain enable digital provenance?
Blockchain enables digital provenance by keeping an immutable history of data, traceable,
decentralized, public, and in real-time.
Why doesn’t a normal database bring the same provenance?
A normal database doesn’t bring the same provenance because it can be changed resulting in both
fraud and errors.
Why is digital provenance such a great benefit to many businesses?
Digital provenance is a great benefit to businesses because it verifies claims of origin, authenticity,
and production. Helping to build complete trust with both their consumers & suppliers. Also,
simplifies any audits.
All transactions on the blockchain are recorded aka set in stone and cannot be changed, so everything on the chain is ultimately traceable, enabling full provenance for anyone to verify.
A normal database cannot track and audit in real time, accounting and transactions have to be done separately and by different departments, it requires a lot of trust whereas a blockchain achieves this all in one place
It takes away having to trust others to do the job, its verifiable publicly and privately for taxation and any other accounting purposes.
Blockchain is a unchangeable history writer. Thru blockchain is the only way to fully know and verify the items history via a series of confirmations of different decentralized pc-s.
Normal database can be changed or lost(fully or partially)
Thru digital provenance (blockchain) all transactions are traceable and unchangeable.
How does blockchain enable digital provenance? Blockchain transactions are irreversible and final. This prevents the data on the blockchain from being altered or destroyed.
Why doesn’t a normal database bring the same provenance? Normal database information is not final and subject to change by potentially untrustworthy or fault pron processes.
Why is digital provenance such a great benefit to many businesses? Digital provenance allows both businesses and customers to verify information on the blockchain without the trust of antiquated flawed systems or people.
1. How does blockchain enable digital provenance?
Blockchain enables digital provenance by verifying every block in the chain in a big public ledger that does not allow anyone to remove any information that it received. This way the ledger is 100% trustworthy because it can verify all information on the blockchain.
2. Why doesn’t a normal database bring the same provenance?
A normal database doesn’t bring the same provenance as the blockchain because it’s not 100% trustworthy because you can remove information out a normal database.
3. Why is digital provenance such a great benefit to many businesses?
Digital provenance is a great benefit to many businesses because it’s 100% trustworthy and it can save a lot of money and time. With digital provenance businesses can work way more efficiently and cost effectively.
1. How does blockchain enable digital provenance?
Blockchain is a public ledger where you can trace transactions. The trace of transactions is secure because once a transaction is on the blockchain it can’t be erased. Every transaction must be verified by multiple blocks for approval.
2. Why doesn’t a normal database bring the same provenance?
Because a normal database is easy to manipulate. You can add or erase transactions without verification. A normal database is based on trust and blockchain is based on verification.
3. Why is digital provenance such a great benefit to many businesses?
Digital provenance is beneficial for many businesses because it is a trustworthy way of tracing a company’s products and/or services. It’s also a cheaper way of controlling a company’s finances.
It’s unchanging over time, or unable to be changed, so always a digital record.
It can be slow, hacked and expensive
Its trustless, can be verified ,
Once the transaction is written it is unchangeable, any transaction is viewable and verifiable.
Trust is the main factor for this, normal database’s don’t have multiple verifiable entities that you can verify authenticity
Being able to verify the accuracy and authenticity of products, or assets is huge on a global scale. Having the ability to not only verify that a product is what it says but be able to have multiple source’s of truth. I.e Verifying that a specific food or medicine is indeed what it is labeled.