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To put it simply, blockchain is a public ledger that is immutable. There is no way for you to copy and paste the record to “double spend” the coins.
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While for a normal database, the data can easily be hacked and changed. The database is usually stored in a central server and controlled by a centralized party.
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Digital provenance is a great benefit to many businesses because they don’t have to rely on third parties to audit with high friction cost. With all the transactions updated real-time on the ledger, it will bring more transparency and fight for corruption & tax evasion and improve supply chain operation
- every transaction is trackable and like “written in stone”. Easy to follow upp in the blockchain
- a regular database kan be erased or hacked or manipulated
- trackable, traceable. Don’t trust - verify. You don’t have to trust a merchandiser or salesman, the data is in the blockchain
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Through step by step transaction traceability and verification.
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A normal database is not normally real time, nor records all stages of the transaction.
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It offers complete trustless, or transparent verification, of real time data.
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- it make it inpossibel to fake provenance so that you are sure do dont buy child made things and remove the need for trust
2.becuse it is very easy to copie or alter the information in question makes it trust reilaient - becuse now every compeny whit blockchain tec can actually stand for what they advertise and dont just blame it all on the supplychain
- It allows all transactions to be tracked and verified as data can’t be modified
- They can be altered and are often not public
- It provides a trustless way to verify what they receive from suppliers at all stages of the supply chain
1: basically by being transparent. Every step in the process is being verified by the network and becomes unchangeable after being put on the blockchain(after a few confirmations at least). Everything can be proven (back to the origin).
2: A normal database can be manipulated by everyone, at any given time. There is no proof that every step is the sum of the previous step + additional (added) value.
3: Now the product/service can be proven as the end result of the chain being created and so the necessary steps being followed. This means genuinity and is therefore addd value.
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All information regarding the production of a product will be stored on the Blockchain. This data cannot be erased and are verifiable by anyone anywhere. By simply being able to verify the production steps, you eliminate the need of trusting the manufacturer.
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A normal database is centralized, meaning it is controlled by a central authority. Data regarding production etc. can therefor easily be changed or manipulated.
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By accepting digital provenance, a customer can verify the companies claim of origin, authenticity and production. This should benefit both the customer and the business reputation. Digital provenance would make the control of the supply chain both cheaper and more efficient.
How does blockchain enable digital provenance?
Answer: Blockchain enables provenance because parties can be sure that the data are tamper-proof and immutable.
Why doesn’t a normal database bring the same provenance?
Answer: Because a normal database is centralized, it is susceptible to being manipulated and tampered with therefore losing its credibility.
Why is digital provenance such a great benefit to many businesses?
Answer: Because businesses can keep track on the steps a product or service has undergone because it is easily trackable and accessible real-time online.
1- Blockchain is like a big open digital book who writes down everthing that happens, which every one can follow and it is impossible to make changes. it is verified by the network.
2- A normal database is easy to change because it is not open to every one to follow in real time.
3- If you dont have anything to hide for your customers than everybody should welcome this technology. Your company will gain trust for their clients/customers. You as a company are playing with open cards and you can follow the product´s journey in the making untill its way to the store.
1- Blockchain enables digital provenance by tracking all previous transactions on a digital database (aka the public ledger) and making the information transparent and available for anyone who wants to audit it.
2- Normal databases don’t bring the same provenance because the information which is stored in those databases can be easily altered which is impossible with blockchain.
3- The benefits of digital provenance is the ability to bring more transparency throughout the value chain of a product or service as well as the ability to either remove the need for auditing (thanks to trustlessness) or make auditing more efficient through means of automation (for example bundling payment and invoicing information)
Homework on Provenance - Questions
- How does blockchain enable digital provenance?
Because all transactions are verified by all the computers in the network and recorded in a public leger after wich they can no langer be removed or be changed, this way the digital provenance can be traced back all the way to the beginning of the chain.
- Why doesn’t a normal database bring the same provenance?
A normal database is managed by one party and is therefore centralised. Because its centralised the owner can change or even delete the database.
- Why is digital provenance such a great benefit to many businesses?
This way businesses can verify the origin of the products they use and therefore the suplychain becomes more transparent.
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Anything added to a blockchain can be traced back to it’s origin. Once in the blockchain it can not be removed or altered.
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Normal databases are mutable so entries can be removed or altered after they have been added.
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Costumers place value on knowing were the items they purchase come from. Being able to verify that food is organic or where clothes are made is therefore valuable to businesses.
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All information is being tracked and cannot be manipulated.
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Because it requires trust and can be manipulated by a central entity.
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It enables real-time tracking and combines the transaction and accounting layer which for example changes the way that auditing is done. Also consumers value transparency and will probably trust businesses that are using trustless technology a lot more.
- Blockchain holds all the information from all the transactions we do, so everything can be tracked easily.
- Blockchain creates a trustless society. We will be able to go look at the ingredients in our food, or what or who is making our clothing. We will be able to verify everything. Whereas the system we are using now doesn’t give us a way to verify what they are telling us is true, so we have to trust what they are telling us.
- Because of the blockchain and how everything can be tracked & audited on a persecond/perminute basics companies will only be able to tell the truth, because now we will have something to verify if it is true. We will be able to be a trustless/verifible society.
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Digital provenance is achieved on the blockchain by how data is stored on the ledger. Once info is written to the blockchain it can not be altered and it can be viewed as a public record.
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While a regular data base can be used to store product information, unlike the blockchain data on a typical database can be altered and controlled by a centralized authority.
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Businesses benefit by having a system where the products they produce can be verified and authentic and containing the highest quality ingredients. One example is stopping counterfeiters from selling knock off goods, which could impact sells.
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It is an unbreakable string of records, updated publicly across a network. Consensus verifies the network.
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A normal database can be manipulated by humans, (who in every other way appear trustworthy). Blockchain provides a self-auditing mechanism by means of merging together the accounting system and the transaction system.
Digital provenance is a way to effectively serialize each product you make and verify its travels to the marketplace. Smart contracts will allow friction in the transaction of all assets to be reduced.
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How does blockchain enable digital provenance?
Blockchain is Immutable. You can enter the information but are unable to change or remove it. It provides a place of Origin and Trust. Blockchain can then provide Trustless properties. Companies can now Trace Goods and verify trust such as where the goods or ingredients came from . -
Why doesn’t a normal database bring the same provenance?
A Normal database is centralized and does not have public transparency. The information contained in a Normal Database can be changed and therefore does not provide Trust. -
Why is digital provenance such a great benefit to many businesses?
Companies Information placed on the Blockchain verifies Trust and Origin of Content. Companies can benefit from the open transparency of Accounting and will not need a Third Party. Its all available in real time. Digital Provenance will assure the customers of companies that services and goods provided can be traced as to where they came from and the information initially placed in the blockchain cannot be changed or removed.
- Blockchain is an open ledger where every transaction can be traced back.
- Because in a normal database, a transaction can be removed or erased.
- trackable, traceable. eliminate trust → verify
How does blockchain enable digital provenance?
By verifying changes in an immutable public ledger.
Why doesn’t a normal database bring the same provenance?
Normal databases are centralized, these databases can be altered or deleted by owner, data-worker, or infiltrator.
Since blockchain allows a company to communicate the origins of materials and manufacture as evidence on their social and environmental impact. Customers and potential customers now have the added choice of products and brands that are considered socially good. Digital provenance is expanding the dynamic of transparency.
- Blockchain enables digital provenance by creating proof of ownership, location, and custody mathematically, where you do not need trust, because it is only verified by the network.
2.A traditional database does not provide the same provenance, because it is not immutable and can be changed by anyone who wants to edit the information.
- Digital provenance is such a great benefit to many businesses ,because information on the blockchain can be shared in a trustless, transparent manner that is verified by the network.