- The design of blockchain is to not have to trust anything or anyone - exept for the blockchain technology. The provenance is created with a descentralized database thats distributed among many computers.
- The database at one location is at risk for manipulation from hacking and from within ownership of the database. The database owners must get the users to trust that they have secure tech, so it wont be hacked. And they need every user to trust them as owner aswell. This trust is hard to achieve.
- Digital prov. Will help any whom whants to prove for anyone in the world does not have to create the proof themeselves in the same way. Everyone part of the consensus is the prof iteslf. The verification way is the right way to save lots of work and even so. The best way is to not have to prove that your word is correct. The consensus and the verification does that work for you (you - would be the provider of anything that will be questioned by others. And you would need everyone to “take your word” for what u are saying.)
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- How does blockchain enable digital provenance?
Anything that is recorded, cannot be edited, duplicated nor deleted. Easy to verify, easy to track and trace by the customers. It is a digital Rune Stone. - Why doesn’t a normal database bring the same provenance?
The ledged resides in 1 location, normal databases can be manipulated, edited by central authorities. - Why is digital provenance such a great benefit to many businesses?
1st, Digital provenance will solve this ‘trust issue’, it brings transparency, being traceable in real time.
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- It provides real time auditing of all financial transactions on the Blockchain through VERIFICATION, trust and accountability. A vast network of computers provides proof of stamp on the Blockcain and also registers, stores and tracks every copy of the transaction on the network. The history can never be deleted.
- A standard normal database is always controlled through a centralized authority that predominantly only provides trust by word of mouth. This completely leaves room for manipulation, intrusion and modification of data and transactions.
- It is beneficial because it acts as a digital stone and a database where items can always be added and never be removed. It enables businesses to track and record every single item such as the specific ingredients that are put in the food supply, the fabrication of goods that people use on a daily basis. In essence, businesses will be able to have a hardcoded digital stamp which will be verified and confirmed by all computers on the Blockchain.
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Blockchain enables digital provenance by ensuring that every activity, event or transactions on the blockchain can be traced and or audited in real time. Blockchain reveals the history and trend of all the activities in a transparent manner for all who has access to see.
Normal database does not bring the same provenance because their information is not transparent to the public and the databases are not designed to be audited in real time.
Digital provenance is such a great benefit to many businesses because it brings about ease of doing business as information is available to everyone in real time. For example, employees do not need to suspend their work to responds/provide information to auditors.
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Once a transaction is processed, this digital record is permanently stored on the blockchain and is unchangeable. As the blockchain ledger is completely decentralized, with no single entity controlling or manipulating it, the authenticity of these transactions will be reliable and trustworthy and freely accessible over the internet. This allows for complete transparency and traceability.
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Normal databases generally have restricted access and are usually centrally controlled by organizations or select individuals, who typically have the power to amend and remove data, therefore making it reliant on trust. These DBs can also be vulnerable to data loss should a server or storage become damaged or compromised. Blockchain on the other hand is a decentralized ledger which is completely trustless and not prone to fallibility.
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When transactions are processed on the blockchain, these records are readily available over the internet. Businesses therefore do not have the worry of maintaining these records and procuring them at a later date, which ultimately saves on time, cost and labour. The benefits from this will be improved quality and efficiency, with should lead to better client and customer satisfaction.
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- featuring tracking and tracing financial transactions like audits can be done in real-time, blockchain puts accounting layer to transaction layer to make it happen in an instant rather than a traditional audit going through all of the transaction and receipts.
- Normal/ traditional database takes time and trust and also it is centralized i.e controlled by the Government/ Authority.
- Because the blockchain has the ability to VERIFIY the products story, time of production, material, authenticity and many more related to the production and supply chain to make it legit.
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- The public ledger allows anyone to verify a transaction’s validity.
- Most are not publicly viewable.
- Easy auditing.
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Homework on Provenance - Answers
Provenance = financial/information tracker on the blockchain that enables allows businesses to collate their data, make the data public, and verify key information (i.e. origin of the product, does it contain certain materials, etc…).
“Don’t trust … verify”
1) Q: How does blockchain enable digital provenance?
A: blockchain provides a “tamper” proof public ledger where key information about the path or state of an item or financial information can be recorded
2) Q: Why doesn’t a normal database bring the same provenance?
A: Normal databases are usually private and the audits take a some time and are conducted by centralized companies. In addition, normal databases sometimes go off “trust” (i.e. food manufacturer does not know what 30% of the food is because they got the info from their supplier like that) which often leads to inefficiencies and inaccurate information.
3) Q: Why is digital provenance such a great benefit to many businesses?
A: It allows companies to track exactly where a product came from and the path that it took to get to its current position. This leads to a trustless system that is more efficient and accurate than a “trust” based system.
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- By using blockchain technology.
- Because it can be changed by anyone. Blockchain, on the other hand, provides you can track every single transaction or movement done in the specific thing you are looking for.
- Because its available to anyone from everywhere.
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- How does blockchain enable digital provenance?
by decentralizing it!! - Why doesn’t a normal database bring the same provenance?
easy to hack, remove, erase, change etc. - Why is digital provenance such a great benefit to many businesses?
OMG - its a revolution, perhaps foremost to the human beings because we do not have to trust companies anymore we can verify on our own.
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How does blockchain enable digital provenance? Because the blockchain is a digital, distributed, publicly available, and unalterable ledger; transactions can be traced and verified. Additionally, transactions cannot be hidden. It seems that ‘integrity’, ‘availability’, and ‘non-repudiation’ are features of digital provenance that are built in by default.
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Why doesn’t a normal database bring the same provenance? An ‘normal’ database is something like a relational database or a non-relational database. These kinds of databases may be distributable, but they are not decentralized like the blockchain. Additionally, ‘normal’ databases feature insert, update, and delete functionality that makes data subject to alteration. As a result, these types of databases are not capable of providing ‘zero trust’.
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Why is digital provenance such a great benefit to many businesses? Digital provenance appears to have vase applicability to the ‘supply chain’. Digital provenance enables anyone to see where raw materials are sourced from, where products are assembled, or completed, where finished products have moved from/to, and who has handled them. The benefit, in this case, allows business to know with certainty whether or not the products they are selling/manufacturing are counterfeit, created using child labor, or any number of other factors.
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Question 1. How does blockchain enable digital provenance?
Blockchain technology, also know as distributed ledger technology, can be used to record the origin and history of any digital asset. Blockchain achieves this through utilizing its decentralized network of cryptographically signed ledger entries, where digital assets are distributed to every node on the network rather than copied or transferred. This decentralized distribution chain gives everyone access to the digital asset at the same time, and all modifications to the asset are recorded in real-time on the network nodes and validated by miners, making fraudulent changes to the asset impossible.
Question 2. Why doesn’t a normal database bring the same provenance?
If a traditional centralized database server fails, or an actual centralized physical database is damaged or destroyed, unless proper backup measures, including off-site hard copy of the database are in place, the entire system is affected. This can also be the case if fraudulent entries are made, or entries removed for fraudulent purposes. There will likely be no record of these changes to the ledger, and as such, leave it open to attack from bad actors. The blockchain does not, in this regard, exhibit these failures, as, Being decentralised, there is no one single point of failure, with all records being broadcast to every node on the network. It is this permanent storage of transactions and assets, stored on multiple nodes, and validated by miners, that cannot be deleted, changed or modified, that makes the data immutable, and resistant to tampering. This makes blockchain technology far superior to traditional data storage, with full public data transparency , and Protection against fraudulent data entries or removal.
Question 3. Why is digital provenance such a great benefit to many businesses?
Trust in business is crucial for economic growth, but advances in technology bring with it problems of authenticity. As hackers become more and more adept at counterfeiting digital products, digital provenance provides a platform for trust less supply chain data, academic research, User authentication and digital goods, blockchain technology provides business with the tools to confidently review the legitimacy or provenance of a digital asset or product, building trust business to business, as well as building a confident consumer base.
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1. How does blockchain enable digital provenance?
Answer: Blockchain is a decentralized public ledger, it cannot be manipulated, i.e. nothing can’t be removed, and so all the participants in the network can see the history and records of anything available on the chain. It also provides real-time auditing and trackability.
2. Why doesn’t a normal database bring the same provenance?
Answer: A normal database is centralized and it can be manipulated by the ones who have access to it. It can be also hacked or attacked and all the data can be lost.
3. Why is digital provenance such a great benefit to many businesses?
Answer: Everything can be tracked and recorded, so they can know the state of the item in supply chain and where they come from. As a result, it brings more efficiency. No trust needs to be involved because everything is transparent.
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1/ How does blockchain enable digital provenance?
Blockchain is a public ledger that is set in stone, it can’t be changed and is verified by decentralised consensus
2/ Why doesn’t a normal database bring the same provenance?
Normal databases are controlled centrally and can be changed or hacked into without consensus from a decentralised network
3/ 1. Why is digital provenance such a great benefit to many businesses?
It means you can verify that your product or claims are true, the blockchain will verify this.
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- Blockchain enables digital provenance by recording origins and ownerships written in “digital stone”.
- A normal database doesn’t bring the same provenance because it relies on trust and can be altered or even deleted.
- Digital provenance is a great benefit to many businesses because of its verifiable transparency and therefore potential for real time auditing.
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Blockchain enables digital provenance because it allows for full transparency from beginning-to-end which cannot be deleted. The origin can be traced back if needed. There are decentralized ledgers that are constantly checking one another.
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Normal databases are typically private and centralized, so it does not allow the same level of transparency. Meaning, that it runs on a level of blind trust.
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Digital provenance gives transparency to businesses to see exactly where their dollars are being spent. In cases where there is a physical merchandise, businesses can see more info on the manufacturers and have full transparency.
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How does blockchain enable digital provenance?
Blockchain is a database, a digital ledger, where data can be added but not removed. And it’s public, therefore it is decentralized So everybody can trace back the origin of every transaction. -
Why doesn’t a normal database bring the same provenance?
In a normal database data can be added and removed. And it is most of the time centralized. This means that using this database is based on trust. Tracing back the origins of the data is difficult and because it is centralized, it is possible you don’t even have access. That makes it very opaque. -
Why is digital provenance such a great benefit to many businesses?
Digital provenance means, in the relationship between a business and his client, trust is not relevant anymore; every step in the process can be verified. A more direct relationship is possible with less middlemen. This auditing of data is possible in real time, so that also saves a lot of time.
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cause it bring real-time auditing, it’s trustless, also means costless.
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How does blockchain enable digital provenance?
By providing trustless transparency -
Why doesn’t a normal database bring the same provenance?
Blockchain is historical and immutable, you can’t edit or delete things once they are on the blockchain. -
Why is digital provenance such a great benefit to many businesses?
It provides the ability for customers the verify the origin and the substance of a product.
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- by providing an immutable public ledger
- databases are mutable and therefore require trust
- eliminating the need for trust will keep honest businesses honest and expose fraudulent ones quickly. This improves the customer allowing the business to expand
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