- Blockchain could create Trustlessness and just use math to Verify everything, thanks to exponential numbers of public ledgers.
- Normal database is erasable which is not the case for blockchain. Also, a normal database has few mirrored data for emergency cases, as for Blockchain thousands of nods keep track of al the data and transactions.
3- They will have access to the real-time auditing and transactions which is not replaceable.
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How does blockchain enable digital provenance?
It enables provenance by being open for anyone to see. All transations can be viewed by anyone with a copy of the blockchain. Digital provenance is also possible by blockchain technology as every block that’s added to the blockchain is verified by a network of machines. Each transaction added to a block needs to be verified by multiple machines in the network so as to prevent wrong data being added and secure the network. Blockchains also are irreversible and nothing can be removed from it. -
Why doesn’t a normal database bring the same provenance?
A normal database require’s trust as they are centralised and a normal database does not have the same security as blockchains do. -
Why is digital provenance such a great benefit to many businesses?
It allows them to transact in a trustless manner. On top of that accounting and transactions can be done at the same time by blockchains whereas the current way business’ do their accounting and transactions separately taking more time and requires outside help from accounting firms.
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- Allowing to trace all transactions in an open ledger where information can only be added and not removed.
- Data is corruptible in a normal data base.
- By making all processes much more efficient by removing TRUST from the equation. Intermediaries are even disrupted or eliminated
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- It is decentralized so there is less trust. This means that there is no authority or government that has any control on the blockchain data
- Because normal data bases have an authority that can manipulate it.
- Real time auditing track and timestamped record of transactions
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The Blockchain which is a public ledger in which the transaction is stored permanently which can be traced by anyone hence enabling digital provenance.
A normal database is controlled by an authority or organisation making its authenticity dependent only on its trust, it can be edited or even deleted.
It is great benefit because businesses can verify their goods coming from the supply chain, and customers can verify the authenticity of the products, goods and services.
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How does blockchain enable digital provenance?
Blockchain allows to track the provenance of a transaction. Every transaction is written on the blockchain and cannot be removed. Blockchain is an open public ledger where every transaction can be traced back. -
Why doesn’t a normal database bring the same provenance?
Because can easily hacked and a transaction can be removed or erased. Sometimes data can be lost.
More difficult to trace back a transaction and is not as simple as blockchain is.
3.Why is digital provenance such a great benefit to many businesses?
Because businesses are able to know where the product came from, are able to truck the product (temperature of the ingredients as well or medicines). The knowledge of the ingredients and solve the trust problem, if it is original or not (example: clothes)
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- Since the blockchain stores all transaction you can track all transactions back to its provenance as well as all transactions after.
2.A regular database allows for data to be stored and removed. While a blockchain doesn’t allow information to be removed. Since information could be removed from a traditional database it would be impossible to determine and verify provenance.
- Blockchain enables a trustless environment which business like because while conducting business they can be sure that transactions or operations will complete regardless of who the other party is or what their interests are.
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How does blockchain enable digital provenance?
Blockchain allows everything to be tracked. Nothing can be taken away only added. That added information is verifiable on other copies of the blockchain as well. So nothing can be put on it that is not true or it would be rejected by the other copies of the blockchain. -
Why doesn’t a normal database bring the same provenance?
A normal database is not tracked the same way. It is not simultaneously constantly verified by multiple users. A normal database can be easily altered as it is not as “closely monitored” as blockchain. -
Why is digital provenance such a great benefit to many businesses?
It brings back trust to the consumer. In the world we live today there is not much trust in government or “the powers that be”. Blockchain is not able to be manipulated and changed like so much has been in the recent past.
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- How does blockchain enable digital provenance?
A: Blockchain enable digital provenance by making digital audits from professional digital Finance companies. A clean Smart Chain contract can enable Digital Provenance, but the problem is, not a lot of people can read code to verify data and trust doesn’t apply to new altcoins on the market without audit proof. Trust is the major keyword for provenance.
- Why doesn’t a normal database bring the same provenance?
A: A normal database provides a lot of information regarding the users and their “library” search. Decentralized database in a blockchain that shows only autonomous users and transactions. By normal, I mean centralized and FIAT currency, owned my govs, bank, etc. Provenance should be done without a middle man, just by verifying data.
3.Why is digital provenance such a great benefit to many businesses?
A: Businesses will improve reliability and give confidence for future investors to invest in their products. Having a digital footprint approved will increase project awareness and promoting itself.
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1.) it has a public ledger that includes where the item originated and like with withdrawing more than you ever received in bitcoin it won’t verify something that was never at the origin
2.) It relies more on trust in people that assumes they would not claim to have something they don’t and it can not be altered to subtract past transactions
3.) Less trust needed and simplifies the verification process, also speeding up some processes at the same time
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- How does blockchain enable digital provenance?
Blockchain technology is a distributed de-centralized immutable ledger, which is a public record set of data. This record essentially forms an audit trail for the data itself. This leads to a high level of trust, accountability, and transparency, the backbone of any provenance.
- Why doesn’t a normal database bring the same provenance?
Normal databases can either be highly secure, or highly open and transparent, but very rarely both at the same time. Because of the public ledger being decentralized, this enables a high secure of immutability, which reduces the need for Fort Knox level security (i.e. only a few people having access to changing the information which becomes highly centralized) and less trustworthy )becuase then you have to trust who is running the database). This allows both transparency AND security, unlike normal databases.
- Why is digital provenance such a great benefit to many businesses?
As businesses are increasingly aware of their ethical and social impacts, their sourcing of materials and labor are increasingly important. Having immutable chains of custody, for example, is a huge benefit, and will be even more so as our society and culture progress.
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1- By making it decentralized therefore trust less. in which no central authority or government can control the blockcahin change the data in it.
2- Because there’s a central authority or government that can control it or manipulate it. and there’s a lot of trust involved in a normal database.
3-Because it can bring costumer satisfaction, in which costumers can verify and make sure if the products are high quality or bad quality, and verify if the materials/ingredients that the company say that they use are actually the ones they do, and where are they coming from.
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How does blockchain enable digital provenance?
Blockchain is a public ledger; so all transactions can be traced and tracked, in real time.
Why doesn’t a normal database bring the same provenance?
A normal database can be hacked and erased, audited. This database is also based on trust, therefore not opaque.
Why is digital provenance such a great benefit to many businesses?
That way we know what we’re actually getting, you are able to track all your ingredients.This is not based on trust, but is verified
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- The blockchain is all about the open ledger, everyone can see everything.
- Normal database is probably centralized so in the end, someone can manipulate the data.
- Digital provenance is great because it is not built on trust.
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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?
1.information stored cannot be manipulated or changed.
2. It can be manipulated and edited.
3. you can track everything in the process and it is 100% verified by the network. This creates transparency and trust in the information provided.
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How does blockchain enable digital provenance?
Information once entered into the ledger cannot be changed and every transaction is logged and can be traced. It is also open to everyone to check if they want to in real time. -
Why doesn’t a normal database bring the same provenance?
Centralised databases are usually owned by one organisation who could in theory change data for their own benefit. Trust and verification are built into the blockchain. -
Why is digital provenance such a great benefit to many businesses?
In the case of tracking clothes provenance or food, we would know every step of each of the supply chain or what it took to make the product so would remove shady products or things like child labour.
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- Real time tracking of the transactions, also it’s not possible to erase the information.
- Decentralised, no authority to corrupt the database.
- Allows to trade on trust less base, while checking all the evidence of the true origins of goods.
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Blockchain enables digital provenance by allowing traceability. This isn’t just done for financial aspects but is applicable to products, ingredients and multiple elements involved with business processes. Blockchain allows you to verify rather than trust suppliers, producers etc and the public accessibility of blockchain enhances the supply chain efficiency as data is able to be produced in real time.
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Normal databases don’t have the same provenance because they aren’t publicly accessible, they aren’t governed by a network, they are instead centrally controlled by the company themselves. This means that you are now relying on trust with the company for accuracy of the data.
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Digital provenance is a massive benefit for business efficiency. Whether it be for financial information for reporting purposes or supply chain efficiency the combining of the transaction and accounting layers gives a clear and verifiable picture of business operations.
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- blockchain gives financial transactions and enables auditing in real time. It allows accounting and transactions to be unified.
- a normal database is centralized, which means it is controlled by some higher power. Data can be easily lost and attacked by the central point.
- Block does not rely on trust. It is trustless and customers can verify the true quality of various businesses. It is transparent and free flowing.
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- It brings together the accounting layer and the transaction layer, enabling real time auditing.
- Centralised database is opaque and operates based on trust. However organisations may not be truthful.
- It provides the ability to track any transactions in a trustless and easily verifiable manner .
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