1)Blockchain enable digital provenance in a way that everyone participated can be able to trace and verify all transactions on public ledger or activity on blocks. It cannot be altered or erased, its like all actions on chain are written on stones so to speak.
2)The normal database can be corrupted by bad actors for their own interest especially when it can be add and remove information or transactions. It is too centralized and easy to be attacked and only few people can verify it.
3) It is trustless and can be verified anytime which is very efficient and cost effective.
- Through a shared ledger anyone can verify through the history of transactions that the funds for a new transaction are legitimately there.
- In a normal database data and transactions can be removed or altered. Also, normal databases are generally not public. Therefore you would need to trust the owner of that database.
- By being able to verify ourselves, we don’t need to trust the other party in the transaction and we also don’t need to trust a third party for auditing or facilitating the transaction. We can verify that the accounting is in order, for transactions to be possible. This is because the accounting layer and the transaction layer are brought together in blockchain.
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- With blockchain there is traceability and trustless transactions.
- Databases can be modified, blockchain cannot.
- Real time auditing, account and transaction layer put together.
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How does blockchain enable digital provenance?
All data can be easily traced,stays on the blockchain and its impossible to change -
Why doesn’t a normal database bring the same provenance?
It can be easily changed or manipulated -
Why is digital provenance such a great benefit to many businesses?
It gives to a customer transparancy about their bussines.Gaining customers trust is important
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How does blockchain enable digital provenance?
Each step of the supply chain can be tracked and validated by recording it in the blockchain in an immutable record. Step by step the provenance can be validated in the open ledger by the network.
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Why doesn’t a normal database bring the same provenance?
In a normal database, records can be modified or deleted. The blockchain is an immutable record, it is a write only database.
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Why is digital provenance such a great benefit to many businesses?
Because it is a way to provide trust in the end product with traceability and real-time auditing possible.
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Blockchain enables digital provenance from its basic structure of building on previous transactions and not writing over them. Furthermore, the current transactions’ validity is tied to the previous transaction(s) and are verified by all the other copies of the entire blockchain, which resides on computers all over the world.
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A normal database does not bring the same provenance mainly because it can be edited and/or replaced. Whether it’s by internal or external forces, the current databases does not secure originality. With blockchain, if a block is edited then the subsequent blocks become invalid and that copy of the ledger will not be verified by the rest of the network.
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Digital provenance is a great benefit to many businesses as it provides unedited data with can be used in all use cases. For example, it can be used to analyze supply chains, review transitions (and industry shifts), audit books most efficiently, manage employees, etc. Digital provenance secures the integrity of companies’ history.
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- Because on the blockchain we can add things but not remove things from the blockchain. Blcokchain is a network of computers, where everyone has a copy of the hole Blockchain.
- Because on the normal database we can also romve things and we need someone in charge. We need to trust that one ´´person´´. Also we need auditing who checks that everything is right.
- Because we can track every step in the hole process, so we know exactly what happen in each step. Example: Food, Clothing,…
- How does blockchain enable digital provenance?
Blockchain technology ensures any transactional input cannot be tampered with once entered. This also includes full auditability of entries made. Ultimately this enables a perfect use case for provenance capability as data input is considered reliable.
- Why doesn’t a normal database bring the same provenance?
A normal database entry cannot be considered a 100% accurate or reliable data entry as it can be difficult to verify the data is original/untampered information due to not having blockchain auditibility capabilities. Normal database access logging for auditing is not mandatory for database operation and and can be manipulated, as is distributed/separate information from database data entry.
- Why is digital provenance such a great benefit to many businesses?
Businesses can have full transparency around a product or service as the blockchain technology can verify this. As an example, the ingredients or origin of a product can be verified at any time on the blockchain. Massive cost savings are also seen by suppliers/customers naturely forcing out counterfeit products in the market.
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Blockchain enables digital provenance due to it having a transparent and accessible digital ledger. This can allow for real time auditing and full traceability. Further you cannot remove information from the ledger - avoiding the risk of manipulation and duplication.
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A normal database can usually be edited at will - removing or adding data. It may also adopt a different framework and could be at risk of loss; unlike blockchain doesn’t rely on one centralised ledger.
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It permits a fully transparent ledger enabling full traceability. It provides the ability to remove the need for trust and enables real time auditing. It can help empower business and consumers.
Homework on Provenance - Questions
How does blockchain enable digital provenance?
Since the ledger is encrypted you can’t change data, but you can access, and you can verify that transactions are correct and audit them in real time.
Why doesn’t a normal database bring the same provenance?
The opaque system of centralized data needs to be trusted. Then 3rd parties must verify the data for auditing purposes. The current database system has one central point of failure and is based on trust and lacks efficiency.
Why is digital provenance such a great benefit to many businesses?
It allows for real time auditing while looking at the transacting layer adding more efficacy and increasing profit margins. For instance an organic food supplier can keep records of his suppliers on n blockchain in real time to track shipments to verify ingredients and maintain integrity of their product.
1.Data on the blockchain is immutable. Cannot be changed or erased
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Normal data base can be erased or changed
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Digital provenance is of such great benefit to business because data can be audited in real time remotely and its trustless
omework on Provenance - Questions
- How does blockchain enable digital provenance? by having a means of Consensus or ability of all participants to Verify and share with each other what is happening
- Why doesn’t a normal database bring the same provenance? because there must be a consensus method to verify the transactions to the data among all users, typical Data Base is just one user or a small handfull of users, outside of that Consensus on Shared data is more difficult for real time data
- Why is digital provenance such a great benefit to many businesses? allows for all this to happen, consensus on the data that is being transmitted Live as it happens Huge increase in Accounting of this informations, sharing of these datas to other users for live use case where verification of the data may be something time critical
- Blockchain allows to track the orgin of a transaction. Every transaction is written on the blockchain and cannot be removed (immutability). Blockchain is an open ledger where every transaction can be traced back.
- Because in a normal database, a transaction can be removed or erased. If the database crashes, data can be lost. And it is probably much more difficult to trace back a transaction, it doesn’t have the same simplicity as with blockchain.
- Because it provides the possibility of real-time auditing and accurate tracability, among other benefits.
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How does blockchain enable digital provenance?
Blockchain helps digital provenance by being like a digital stone where can only be added- not removed hence being much more transparent. Blockchain is also decentralised and not run by any one entity who has control over the data. Noone can change the data that has been added to the blockchain but it is available for everyone to see which means that trust is not needed because everything can be verified instead. -
Why doesn’t a normal database bring the same provenance?
Since most normal databases are centralised and the company in charge can remove or edit the data added to the database and delete past records etc. There is little to no transparency with these types of normal databases which makes it harder for people to trust them. -
Why is digital provenance such a great benefit to many businesses?
Because it removes trust from the equation and everyone can just verify everything instead. No need to just rely on trusting that the suppliers do what they say they will do as it can just be verified instead. Everyone has access to the public ledger and there is complete transparency which is becoming more and more important for most people in today’s world.
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Because it’s imposible to modify in the blockchain, it’s immutable. The concept of blockchain is that all information within it is 100% trustibly, it allways shows the truth.
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A normal database is not decentralized meaning it has an authority that is in charge of the database and it’s information. The authority can do pretty much what he want to do with the information in a regular database, for example manipulate it.
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Since the blockchain is immutable you allways know it shows the truth.
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Blockchain is a decentralized, verifiable, peer to peer database. No central power or authority controls the protocol, allowing it to move freely through the markets.
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A normal database, is centrally controlled by a governing authority, allowing it to be changed or shut down at any time.
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It benefits both the company/authority and the user; all things stored on the blockchain are verifiable allowing both parties to be confident in any given situation.
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Homework on Provenance - Questions
- How does blockchain enable digital provenance?
- by digitally tracking and verifying in a decentralised manner
- Why doesn’t a normal database bring the same provenance?
- because you would have to trust a centralised authority or person using a less stable more flawed and dated ecosystem
- Why is digital provenance such a great benefit to many businesses?
- because they don’t have to work on word of mouth. Everything can be immutably verified from source. While the benefits of digital provenance is not a solution for every business it will certainly be of great benefit for example sourcing ingredients in our food chain
- Blockchain enables digital provenance by keeping a ledger to track the provenance and the data is accurate as it cannot be removed.
- A normal database doesnt provide the same provenance as those systems can be modified or tampered with. Also, those systems are centralized.
- Digital provenance will be and is a great benefit to businesses as it supplies consumers with real time data and transparency. Also, it cuts costs for businesses with real time updates and will increase overall efficiency. This is one ofnthe reasons I enjoy Vechain.
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Because you can’t erase anything from the blockchain and everyone has their own keys, only the real manufacturer can sign that the product has been made by them, a false manufacturer will not be able to fake this signature.
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a normal database would allow bad actors to edit the data, it’s only because it’s a public blockchain that they can’t edit the data without overruling all the public nodes (51% attack)
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fake brands are a real problem for the actual brands, this can be solved with digital provenance. manufacturers with bad reputation can be banished because we can only use verified good manufacturers by their unique signatures.
- The Blockchain is basically a data base called ledger where you can Add transactions but never Remove any. BTC ledger is a public ledger where all past transactions are recorded and linked to previous ones. This technology simply enables the possibility to perform Provenance Audits at any time.
- Because some transactions, let’s say, in a product supply chain are not truly accessible and therefore, some industries would have to trust for the provenance of the goods they wish to include in their quality insurance. By implementing Trustless ledgers, and under a wallet authority, only the real supplier can add a transaction where supply and accounting are merged in the auditable ledger.
- Because it mediates informations within a quality insured, auditable, immutable database that doesn’t rely on any trust for third parties.