- Trust is the key provision of this financial side of blockchain, next is the ability to verify at each node / terminal / CPU.
2, Verification of the blockchain is or can be public, at any time. - Knowledge of the facts of reality in real time gives business the foundation to act, and realize the gains / loses of their action.
1 Like
How does blockchain enable digital provenance?
The blockchain enables digital provenance by keeping track of all transactions and records when they happened. This enables the blockchain to be a trustless system that doesn’t need a central database to store information.
Why doesn’t a normal database bring the same provenance?
A normal database wouldn’t be able to provide the scalability that a blockchain system has and a normal database does not provide the security in which a blockchain system does. If a data center goes down, all that data will be lost. With multiple nodes carrying the same information in a blockchain system, information can be recovered even if a node becomes tampered with.
Why is digital provenance such a great benefit to many businesses?
Blockchain is a great benefit to many businesses because it provides businesses with a trustless system. The key here is verification. With verification, businesses can oversee business flow and be more efficient with decision making.
1 Like
Blockchain enables digital provenance by tracking everything and verifying it cryptographically, allowing for audits, supply chains & transaction records.
Normal databases are not transparent with their data and there has to be trust for it to work.
Digital provenance will be a great benefit to businesses by allowing for easy & trusted record keeping & auditing. It will allow for more transparency for supply chains which will allow them to function better. All being done on a trustless decentralized system. Dont trust - Verify.
1 Like
- How does blockchain enable digital provenance?
Every information that has ever entered the blockchain can be traced. No information can be deleted from the blockchain. This means, real-time auditing can be done. - Why doesn’t a normal database bring the same provenance?
A “normal database” is a centralized database. Some people have the keys to access the data, to change or remove them. That way, provenance can and probably will be obscured. - Why is digital provenance such a great benefit to many businesses?
It is a great benefit because businesses don’t need to trust their suppliers anymore, they can instead verify their declarations, statements on the public ledger. Transparency can be established.
1 Like
-
Blockchain enables digital provenance by using public ledger to track and audit each transaction in real time. This is achieved through a network of computers where each machine will look in their own local copy of the blockchain to verify the transaction. All transactions are being saved in the data structure like a digital stone where you can only add things and you cannot remove things.
-
Normal database does not bring the same provenance because they are not completely accessible to everyone and they can be controlled.
-
Digital provenance is such a great benefit for many businesses because they do not need to trust their suppliers but instead they can trace back and verify everything through the public ledger. This brings so much more efficiency to the processes.
1 Like
Blockchain enables digital provenance by providing an immutable, one way recorded, public ledger. Every transaction or “event” recorded can be traced from origin to completion. Also the fact that blockchain is a decentralized ledger prevents interference or corruption by on or a limited few authorities.
Normal databases can be modified by one or a limited few people so the integrity of the data is not guaranteed. Similarly, crashes can completely destroy data in a database, unlike blockchain.
Digital provenance is a benefit because of the transparency of recorded data and because of the completeness of data from inception to completion of a transaction or recorded event. Realtime auditing can also occur because of digital provenance.
1 Like
- How does blockchain enable digital provenance?
Blockchain enables digital provenance by eliminating doubt as transactions can be traced and verified. - Why doesn’t a normal database bring the same provenance?
A normal database can provide a system for maintaining records, but these records and transactions cannot be verified independently. - Why is digital provenance such a great benefit to many businesses?
Digital provenance is a great benefit to businesses for several reasons, however overall, it offers a basis for verification that leaves aside the need for trust.
1 Like
- How does blockchain enable digital provenance?
Blockchain enable digital provenance by writing to the public ledger some datas that are immediately shared with all the “block” of the chain and making those data decentralised and not erasable
- Why doesn’t a normal database bring the same provenance?
cause in normal database, that centralize things, the datas can be erased and manipulated. in normal databased there is a lot of trust
- Why is digital provenance such a great benefit to many businesses?
cause can provide trust information
1 Like
- Every transaction can be traced through a digital record which we could compare to a stone… written in stone as they say, and the stones are a public community ledger.
- A normal data base can be altered. I can say I upgraded the electricity in my house by a professional electrician (Who for a fee would lie for me) When I did the upgrade myself. The blockchain would reveal that no transaction between me and the electrician ever happened.
- Digital provenance is a great benefit because as I mentioned in the #2 response above, everything can be verified. Lying will not work.
But I have a question. I just purchased a ledger to store my digital currencies. If there is so much security in provenance and all that, why do I need so much protection - passwords etc - to protect my purchases? If it is in the blockchain, then isn’t it public knowledge that the bitcoin I have was purchase by me and no one else can use it?
1 Like
- With Blockchain we do not need to trust anyone, instead we can verify everything.
- Because Blockchain can not be modified and nothing can be removed from it.
- Business can be sure that the products they sell are 100% legit and do not include anything else or produced in bad conditions.
1 Like
- How does blockchain enable digital provenance?
- Why doesn’t a normal database bring the same provenance?
- Why is digital provenance such a great benefit to many businesses?
a) it is immutable
b) it is mutable
c) trustfactor and accounting are unnecessary
1 Like
[quote=“ivan, post:1, topic:8423”]
- How does blockchain enable digital provenance?
Transactions are written into the chain irreversibly making the tracking of transactions possible in real-time and remotely without needing to place trust in an external 3rd party.
- Why doesn’t a normal database bring the same provenance?
Normal data basis require a 3rd party to capture and/record the data making trustworthiness and important factor and leaving room for errors and dishonesty.
- Why is digital provenance such a great benefit to many businesses?
It enables a business to track transactions/origins of their delivery chain in real-time. Being able to track every step of production enables a company to deliver the quality their customers/clients expect.
1 Like
1. How does blockchain enable digital provenance?
Blockchain enables us to track and trace the provenance of a transaction. A public ledger is immutable (data cannot be removed only added) making the transaction trustless and easy to verify.
2. Why doesn’t a normal database bring the same level of provenance?
Transactions on centralised databases can be easily manipulated and are at risk of data loss, human error and security breaches.
3. Why is digital provenance such a great benefit to many businesses?
Digital provenance enables a business to conduct real-time auditing on every transaction throughout their blockchain/supply chain without the need to rely on an intermediary to verify the validity of a transaction/source (mitigating counter-party risk).
1 Like
If you have a ledger you don’t have a password but the Ledger generated a mnemonic key for you that you must backup to be able to restore the keys in case you buy a new one or your current one breaks down or you loose it or something.
Your pin number on the Ledger is a security that not everyone can access your funds in case your ledger gets stolen.
I think you can also setup a password in Ledger live, but that is optional. Its useful in case you share your PC with other people and they can’t see your balance on it. 
Homework –
How does blockchain enable digital provenance? – Data can only be added and not removed. Data cannot be edited/changed. Everything transaction can be monitored real time. A digital footprint is left for all activity performed.
Why doesn’t a normal database bring the same provenance? – A normal data base can be manipulated and cheated. Items can be deleted and added with the stroke of a key or a pencil eraser
Why is digital provenance such a great benefit to many businesses? All transactions and accounting is on the blockchain. Everything is tracked and audits are a breeze.
1 Like
By being decentralized, no one can control the blockchain or edit/delete the data within it. Blockchain allows to track the provenance of a transaction - a public ledger.
Normal databases have a central authority that can control & manipulate (transactions can be removed or erased). If the database crashes, data could be lost.
Customers can verify transactions. This provides the possibility of real-time auditing and accurate tracing.
1 Like
How does blockchain enable digital provenance?
Blockchain enables digital provenance through a public ledger that is able to be confirmed .
Why doesn’t a normal database bring the same provenance?
A normal data base is owned by a central authority and can be manipulated or hacked. We must ‘trust’ that administrators will be making just and trustworthy decisions.
Why is digital provenance such a great benefit to many businesses?
Digital provenance is a great benefit as it creates confidence in both supply chains as well as auditing for both financial tracking as well as transactions for easier control over the business and monitoring.
1 Like
- How does blockchain enable digital provenance? --> Everything can be recorded from the very begining of it production and as the leger can only be added info and not removed its a great tool.
- Why doesn’t a normal database bring the same provenance?–>a normal data base can be altered by someone and is based on trust but not the blockchain
- Why is digital provenance such a great benefit to many businesses?–> there is no need of trusting someone that the data are accurate
1 Like
How does blockchain enable digital provenance?
Blockchain is a public ledger, in which accounting and transactions are combined. The history it contains cannot be rewritten: once a transaction is added it cannot be modified or removed, and will be an authentic source for verification and auditing.
Why doesn’t a normal database bring the same provenance?
In a normal database data can also be modified and deleted. When a history of transactions can be modified or removed, it is not fit for provenance.
Why is digital provenance such a great benefit to many businesses?
It lowers the cost and time of verification and auditing.
1 Like
-
Blockchain enables digital provenance by using a decentralized network of computers to track and verify transactions in a manner at which content can be added to blocks in the chain but never deleted.
-
A normal database relies on trust. The lack of transparency in normal databases is a major flaw.
-
Digital provenance is a great benefit because of trustlessness. One doesn’t have to rely on trusting another party that the content is accurate because it’s on the digital stone for everybody to see. Full transparency!
1 Like