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Blockchain enables digital provenance by eliminating central parties and they need to trust single entities. By using a Blockchain that is open and verifiable by all parties in the network we achieve trustlessness and digital provenance.
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Normal databases are controlled by single entities and or single organizations and therefore require trust by all parties using the database. No one can ever be sure if the information on that database is true or false, and it can easily be manipulated.
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Digital provenance is a wonderful benefit as it brings the global world together in a trustless way. Before bitcoin the thought of sending money to business overseas in a trustless manner was just a dream. Food and clothing companies can now in a trustless way confirm the exact ingrediants and materials of their imported goods without having to trust their suppliers. Instead of trusting they can verify on the blockchain.
A blockchain enables provenance by systematically recording and presenting all actions taken within an indisputable record-ledger, outside the realms of manipulation of malicious bad actors.
A normal database cannot provide this due to susceptibility to manipulation and systematic delays on necessary parties verifying, and expressing that they verify and agree with the information in real time.
For those unfamiliar with the Byzantine Generals Problem; I highly recommend that you look into it. It details a scenario, applicable to question three (use your imagination); where an attack requires multiple parties attacking an enemy from different sides to coordinate an stealthy attack at the same time. The enemy in focus is greater in strength and magnitude than all of the smaller groups that wish to rebel and requires complete coordination to be a success. The Byzantine Generals problem is that he must establish that all parties DO wish to attack, that all parties wish to attack at THE SAME TIME, that NO party has yet been discovered, killed, or compromised, and that any messages sent between these groups - say by a horse rider - deliver the INTENDED MESSAGE, have not been replaced by malicious bad actors, or have even arrived to communicate the message on time and nature of the attack.
Blockchain enables all parties to VERIFY that the data has been seen and checked by all parties in real-time. If a bad actor exists, the majority of the network, or parties involved, can notice the discrepancies between this data and their own, and disregard the information - i.e. in this case, call off, or on, the attack. Thus, blockchain provides a solution to a (literally) age old logistical problem.
NOTE: This is kind of coming to a consensus though, which I see is the next topic. - I guess solid provenance allows a network to achieve consensus faster and with less chance of error?
I hope this makes sense; I’m tired AF so I’m on 50% mental computing power.
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Don’t Trust verify. Blockchain is an open ledger and every transaction can be traced. Also It is not under an central authority or government. So nobody can ask for taxes or fees
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In a normal database you can ad and also delete data. In Blockchain is that not possible.
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You can track and trace every step in supplychain to see where you material or ingredients come from and also check the supplier fits your requirements.
- How does blockchain enable digital provenance?
By providing transparency and traceability
- Why doesn’t a normal database bring the same provenance?
Because there often isn’t transparency and traceability. Databases can also be altered.
- Why is digital provenance such a great benefit to many businesses?
It enables real time accounting, financial and traceability
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How does blockchain enable digital provenance?
Blockchain provides a publicly accessible immutable record of transactions and associated data -
Why doesn’t a normal database bring the same provenance?
A normal database is not publicly accessible and is not immutable; is can also be hacked or changed by malicious actors. -
Why is digital provenance such a great benefit to many businesses?
It means audits can be conducted more frequently, at lower cost and in shorter time. They can also be conducted remotely, even in real-time. Blockchain provenance enables businesses to interrogate their supply chain, ensuring that their suppliers and end products are how they (and their customers) expect. It can help them prove compliance with local and international regulations and standards.
One question - what is there to prevent 2 parties colluding on untruthful data? For example, in Ivan’s cow-milk-sugar-yoghurt scenario, what happens if the company supplying the sugar and the company adding that sugar to the product agree to log incorrect data for financial gain? Does there not still need to be trust that all parties are playing by the rules?
Yes, because It eliminate digital silo’s. Normally every company works in their own ways and has more room for mistakes etcetera. On the blockchain, everything is in 1 place and consensus makes every entree immutable wich makes it more efficient.
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Blockchain enable digial provenance by making it possible to trace the origin of transactions in real time.
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Because a normal database is not descentralized and gives the owners of the database the power to manipulate or delete data if they wanted to do so. You would have to trust the data given by owners. Also a normal database can crash and all data would be lost.
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Digital provenance brings transparancy. Businesses can save a lot of time by accessing data quick and verify the data without having to worry about it being inaccurate.
- Blockchain can be seen as a public ledger, so anybody can check anything without working for an institution (decentralised)
- Because there is TRUST involved/needed. It is also centralised, therefore it can be manipulated
- Don’t trust, verify! Do your own math and do not get fooled.
- by verifying all the transactions in public.
- information from normal database can be removed or changed.
- it’s a fast reliable way to track all the parts of product, transactions, terms.
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It enables it by having everything “carved in stone” and available to track by everyone in real time.
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Normal data base doesn’t allow full, real time transparency and tracking and it also involves centralized entity.
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Provenance is a great Benefit for businesses, because it enables them to easily collate their data, along with open data, and also verify key information on immutable data ledger.And allows everyone to check its validity
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By creating an immutable, and permissionless record of transactions.
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Normal databases rely on central authority and can have data changed and erased and therefore are not immutable.
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Digital Provenance allows businesses to verify information about products and transactions rather than trust the word and reliability of another party.
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Blockchain enables digital provenance by allowing for a real time tracking or auditing of data in a “dont trust, verify” landscape. The chain can only have date added to it and not taken away and thus blockchain removes the need for banks or governments to verify the data. It allows for live real time auditing of transactions.
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A normal database does not bring the same provenance because it requires trust to verify transactions.
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Digital provenance removes the need for accountants for starters. Because transactions are verified with data and not through an accounting process performed by an individual it clearly saves money. But it also allows for efficiency in the recording of transactions.
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How does blockchain enable digital provenance?
Blockchain enables digital provenance by providing the ability to audit in real time 24 hours a day. -
Why doesn’t a normal database bring the same provenance?
Normal database does not include all information of the transaction. It is based heavily on trust and it is not always transparent. -
Why is digital provenance such a great benefit to many businesses?
[In blockchain all information is available in the transaction and is traceable. It also provides accountability for transparency through transactions. The system is not based in trust but in verification.]
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How does blockchain enable digital provenance?
Every transaction on the the blockchain is recorded permanently within the blockchain database in a verifiable trustless manner. -
Why doesn’t a normal database bring the same provenance?
Regular databases can be re-written/altered. -
Why is digital provenance such a great benefit to many businesses?
It removes the need for third parties to audit and verify transactions.
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Blockchain allows for digital provenance by:
*Replacing trust with verifiable information
*Enabling real time track/trace of any transactions or products
*Putting all transactional information in a single place to see
*Information can not be manipulated once entered -
A normal database can not be as efficient due to the fact that:
*It can be manipulated
*It can be under the control of a single person or entity
*Access is potentially limited -
Benefits of digital provenance
*Could create more business if clients could track path of production line of the products for sale
*All company info readily available
*Quality of suppliers could be monitored
- Data Cannot be changed or erased, every transaction can be tracked.
- Normal database can be edited, information erased and supervised by government
- Businesses can track a history of their ‘product’, make themselves trustworthy
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The ledger is distributed across a vast network and a full history of all previous transactions are logged in the ledger. It’s decentralized so there is no higher authority that can change it to their benefit. Fair for everyone.
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You can’t create a Bitcoin copy. Each is unique and has a history attached to it. A higher authority cant change that history. A normal database can be copied and modified without history.
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Businesses can track many business processes and supply chains for quality, ingredients, manufacturing content, etc. No or little outside 3rd party audits required because the audit is in the blockchain. Transparency.
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Blockchain is a database that can only have info/data added to it of which then cannot be removed. It is also a public ledger and each transaction can be tracked or verifyed.
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Mostly be cause there is always some sort of central government/authority involved and control and manage it. Also on normal data bases data/info can be removed and erased like if the database was to crash lots of transaction data would be lost
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It provides the possibility of real time auditing
First post for me and I hope I’m doing it right.
- Blockchain is a public ledger where all transactions are traced/tracked and proved in real time.
- With normal databases, there are multiple issues such as manipulation of data, easily erased, and hackers have many doors they can enter. Being slower and adding cost means the end user pays for this.
- This is a awesome question and I believe the world will be a better place for all. If you can just imagine for a second how relevant and valuable this is to know that the food, car, machinery, etc. Have been proved. Trust will only be built as and always when verified.
Cheers all, I hope I’m in the right post.
First post for me and I hope I’m doing it right.
- Blockchain is a public ledger where all transactions are traced/tracked and proved in real time.
- With normal databases, there are multiple issues such as manipulation of data, easily erased, and hackers have many doors they can enter. Being slower and adding cost means the end user pays for this.
- This is a awesome question and I believe the world will be a better place for all. If you can just imagine for a second how relevant and valuable this is to know that the food, car, machinery, etc. Have been proved. Trust will only be built as and always when verified.
Cheers all, I hope I’m in the right post.
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ShareBookmarkReply First post for me and I hope I’m doing it right.
- Blockchain is a public ledger where all transactions are traced/tracked and proved in real time.
- With normal databases, there are multiple issues such as manipulation of data, easily erased, and hackers have many doors they can enter. Being slower and adding cost means the end user pays for this.
- This is a awesome question and I believe the world will be a better place for all. If you can just imagine for a second how relevant and valuable this is to know that the food, car, machinery, etc. Have been proved. Trust will only be built as and always when verified.
Cheers all, I hope I’m in the right post.
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