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How does blockchain enable digital provenance?
Keywords for me here are Transparency and Traceability. All transactions on a blockchain can be traced, viewed and verified in real time thus creating a trustless environment. Once information is added it cannot be altered in anyway. -
Why doesn’t a normal database bring the same provenance?
No trust or transparency exists in a centralized database. Data can be altered and manipulated in the back ground. -
Why is digital provenance such a great benefit to many businesses?
Removes the need for constant auditing by having a trustless environment through the transparency of transactions
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Homework on Provenance - Questions
- How does blockchain enable digital provenance?
Since blockchain is immutable it provides provenance more its decentralized and auditable 24/7 seamlessly.
- Why doesn’t a normal database bring the same provenance?
A normal database is centralized and can be manipulated or even altered by its keeper.
- Why is digital provenance such a great benefit to many businesses?
Since it’s public it can be checked at any given time and because it’s decentralized by nature any information entered can’t be altered in the future. It can provide a trustless environment for businesses where the information on the ledge can be verified.
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- How does blockchain track digital provenance? Since nothing can be deleted, everything can be traced.
- Why doesn’t a normal database bring the same provenance? Data can be removed or corrupted.
- Why is digital provenance such a great benefit to many businesses? Businesses can trace and verify information for themselves.
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1- For the blockchain technology, every participant on the chain can reach eachother’s activity on the chain (traced and tracked), which provides open access proven source that is utterly reliable.
2- For blockchain, digital provenance provides trustless self audition via all participants of the chain accounting layer together with transaction layer. For normal database the project management has to do all work to provide necessary documantation kept safe and private, tracing time periods are limited.
3- Businesses can provide all process registers and records without any additional audition work in real time 7/24, without any preperation like invoices etc. As it is easier for the clients/receivers it will create more sustainable businesses, with less workforce for paperwork, and decreased risk regarding to human error during collecting and providing audition data.
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Blockchains enable digital provenance by being a live database that every transaction is stored on and can’t be removed, effectively acting like a digital rune stone that can be viewed publicly.
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Because a blockchain database allows the public to easily trace financial transactions in real time bringing a level of trustlessness instead of relying on a normal database that could be manipulated or controlled by a central authority.
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Allows businesses to track and confirm that their products are accurately described, bringing more value and trust to the business. On top of that digital provenance also allows for real time auditing, bringing a lot more efficiency by connecting accounting and transaction layers together.
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- How does blockchain enable digital provenance?
Digitial provenance is enabled through public tracking. Everyone can see it in real-time and trace it back to the original chain to verify it.
- Why doesn’t a normal database bring the same provenance?
A normal database can be modified and altered, therefore, making it difficult to track what originally happened. With digital provenance build into a blockchain, tracing and tracking is possible, moreover, it is publicly available.
- Why is digital provenance such a great benefit to many businesses?
Digital provenance will enable trustlessness or more of a sense that whatever it is they are purchasing or tracking in terms of goods is no more or less than what they asked for.
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- 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?
Blockchain would enable a food manufacturing business to secure and audit each product from start to sale. The company my son works for has my son as the (new title) Digital/Human Provenance Director. He is the one that can tell you what happened with all accurate details from a less than optimal software program.
A normal database may go down, resulting in a phone call to another country for support with support that does not have the level of knowledge to be able to help with the hiccup. When my son or the Human Provenance Director is absent or unavailable would the the company continue to run? Yes, the company would run, but would it run at optimal efficiency when certain critical data becomes unavailable for a short window of time? Then I wondered would the company be opened to developing some form of a blockchain system, rather than a software program from another country.
Digital provenance would help local and global companies operate in a more increasing electronic payment and cryptocurrency dominated global monetary arena. With the monetary transition, blockchain may be adopted by businesses over the next few years.
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- How does blockchain enable digital provenance?
Blockchain is a “digital stone” of transactions (ledger) in which verification can be achieved. It is unchangeable, reliable.
- Why doesn’t a normal database bring the same provenance?
A normal database is changeable by the administrator, or others given authority. Therefore, it is not strong for verification purposes and must be “trusted.”
- Why is digital provenance such a great benefit to many businesses?
Because digital provenance is essentially a verifiable ledger, this benefits businesses for real-time auditing. This establishes transparency.
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through a public, permanent ledger. It enables anyone and everyone to verify any relevant information it provides.
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Because they’re private and vulnerable to bad actors who could decide to "fudge the numbers.
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Because it gives them peace of mind knowing the blockchain data is reliable without having to trust anyone. It helps ensure consistent quality is passed on to their customers.
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Blockchain enables digital provenance through an open, immutable, transparent and auditable public ledger(database)
A normal database can be tampered with, data or transactions can be deleted or removed
Digital provenance is such a great benefit to many businesses because it can save time & money on things like accounting, auditing and provide trust to clients/customers or even provide businesses with trust for other businesses (partners in industry)
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Benefits of Using Blockchain
- How does blockchain enable digital provenance?
Answer: Blockchain enables digital Provenance by helping to track financial transaction in real time. - Why doesn’t a normal database bring the same provenance?
Answer: Because the normal database doesn’t provide transaction in real time and the accounting layer and transaction layer of the database are disjointed. - Why is digital provenance such a great benefit to many businesses?
Answer: 1. You can track the financial transaction in real time{fast}
2. You can have the accounting layer and the transaction layer in the same place for easy auditing and reference.
3. Trustless: verification of transaction.
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How does blockchain enable digital provenance?
By using blockchains, every transaction is recorded and cannot be removed. -
Why doesn’t a normal database bring the same provenance?
Normal database always have a central authority in which a central party has control over the database, and it is based on trust model. -
Why is digital provenance such a great benefit to many businesses?
It enables businesses to verify key information on data ledger that is immutable. And it is easy to collate their data along with open data.
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By concept of digital stone - only option is to add data to the blockchain, you are not able to remove any data, what makes it very transparent and nothing can be changed without notice of any other party involved in this blockchain network.
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In normal database you are allowed to change data, remove data and thats why its not possible to find out history of changes if some central authority will not make it visible.
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Because this benefit brings total transparency to data on chain and also security due to decentralized storage of blockchain versions.
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It provides real-time auditing of transactions and accounting.
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In blockchain transaction we have everything available info right there. So no needs to check different data in different places as it work in common transaction, normal database,
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Bigger parts of businesses can integrate blockchain into their own needs to achieve more efficiency.
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- Makes it easy to trace and audit
- Because you can’t alter the information on the blockchain so makes it a trustless system
- Makes many things a lot more efficient and verifiable
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1 trough a public ledger
2 normal database are not public and can be altered
3 many reasons but one is it’s accessibility and how it is cost efficient
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- By making transactions transparent and easy to track and verify by the network
- Normal database relies on central authority and thereby on trust that the authority respects the rules of the system. A decentralized blockchain allows for real time auditing of transactions and computations and eliminates the single point of failure/ need for trust that the central authority repreents.
- Blockchain technology enables businesses to track their supply chain in real time in a reliable and immutable manner. They can be more confident that what they purchase in raw materials for example actually conforms to the suppliers claims of origin and life-cycle. Because blockchain technology is build to be immutable, businesses can also be sure that transactions they are tracking are relevant and can not be reversed or otherwise tempered with by anybody as is the case with credit card transactions for exmple.
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How does blockchain enable digital provenance?
Trustlessness/Don’t Trust - Verify -
Why doesn’t a normal database bring the same provenance?
It can be changed or deleted -
Why is digital provenance such a great benefit to many businesses?
Tracing all processes to point of origin and allowing transparancy.
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How does blockchain enable digital provenance?
You can audit almost any type of data ownership with blockchain technology - Blockchain tracks and records all owner history
Why doesn’t a normal database bring the same provenance?
“Normal” databases are centralized and require trust that others/owners with access to the data do not alter it. Blockchain participants each have a secured copy of all records and all changes so each user can view the provenance of the data
Why is digital provenance such a great benefit to many businesses?
Digital provenance is a benefit to businesses because it eliminates the need for a third party audit. All data is tracked on the blockchain
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- How does blockchain enable digital provenance? - By removing Trust from the equation, since data is recorded in the Blockchain and is being verified by the network itself.
- Why doesn’t a normal database bring the same provenance? - Because a normal database is centralized, i.e. owned by someone who has the ability to change/remove the records, as opposed to Blockchain, where the records cannot be removed, but only added.
- Why is digital provenance such a great benefit to many businesses? - Because it will enable businesses to track their every transaction, be it a manufacturer or a financial institution making operations verifiable and trustless.
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