- Data can only be stored in the blockchain, cannot be edited or removed.
- In normal databases rows can be updated, or removed. Databases require constant backups for data loss prevention.
- Provides automatic transparency for auditing, investors and customers can also verify the data if it does not have a separate encryption layer on it.
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- By providing decentralization combined with math without any central authority.
- Because we need to trust somebody about validity of data.
- Because it provides functionality not based on trust and transparency to the business
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1} Blockchain enables digital provenance by keeping track of all transactions,account information and tracking meta data on supply chains and other industries. Information can only be added and not taken off the blockchain making it immutable. Another key factor is that blockchain is not governed by one central authority but is a decentralized system of nodes which makes it trustless.
2} A normal database will not provide the same provenance based on its centrality where data can be altered and a decision by one entity can determine the outcome. Security is also an issue and data corruption
3}digital provenance such a great benefit to many businesses as it provides real time information untampered, authenticity and verification from origin to destination.
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- By keeping all of the transaction history which cannot be removed. Additionally, it is public.
- Because it is not publicly available and data can be removed/modified.
- Because it would be possible to verify/trace all of the items like transactions or products that are written on blockchain.
I have some doubt in regards to for example transactions in HR or Accounting that will indicate the salary of an employee if f.e. company will make a transaction to his wallet/account. Will it demotivate other employees if they see that mentioned person earns more or the person will figure out that he/she earns less?
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1- decentralized ledger makes it trustless. People trust code more than people 
2- with a central point of control or governance and closed source makes for vulnerability of attack and opportunity to corrupt
3- open transparent communication is key for growth in any relationship.
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Everyone can see what your doing
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They are certralized and trust is needed
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Trustlessness
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Blockchain is a publicly readable, write once, append only, immutable, distributed Ledger. - it can not be changed, but anyone with their own copy can easily verify a transaction / entry on it.
A database is not immutable - information could be changed or deleted by whoever has write access - which brings us to the point that it’s usually centralized, so requires both trust in the maintainer, and that they keep accurate backups. Blockchain is distributed - there are many exact copies, so also more resilient.
“End users” (customers) and “service providers” (businesses) , all are able to check and verify any data in a block, without any need for a separate auditing process, hence “trustless” - there are numerous applications where that would be a good thing.
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- Transactions are stored permanently on a ledger (public)
- Normal databases are centralized and are not generally available for transparent viewing, ie: not public
- Because it gives them the opportunity to share information publically and add to the transfer and storage of this information externally, in a decentralized fashion. There is no intermediary as well as the transaction is “trustless”, meaning there is no reliance on an intermediary party.
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- By providing a shared immutable ledger that could be audited real-time, all transactions that are based in the blockchain are trackable.
- A normal database is not immutable and transparent, thus transactions stored there could not be 100% true.
- With digital provenance, businesses could rely less on trust on other entities which could save a lot of hardship. other than that, it simplifies accounting as transactions in the blockchain fuse both transaction and accounting layers
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Achieved by decentralisation where no single person or entity can manipulate the data.
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A normal database can be manipulated by anyone who has access and therefore relies on trust. Don’t trust…Verify
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It allows transparency and verification in terms of products and the company where all data is accessible and due to the consensus nature of blockchain it is trust less.
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- How does blockchain enable digital provenance?
Information can only be added to a blockchain and no data can be removed (immutability) or copied, so all the data will be available since the starting point of the blockchain.
- Why doesn’t a normal database bring the same provenance?
Because a database needs trust and can be manipulated or hacked.
- Why is digital provenance such a great benefit to many businesses?
Accounting and auditing can (in the future) be performed in real time. Customers can verify where their product came from and how it was made.
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Homework on Provenance
- How does blockchain enable digital provenance?
Blockchain enables digital provenance by allowing to fully track & audit each transaction in real time bringing into the process a great amount of value and efficiency.
- Why doesn’t a normal database bring the same provenance?
A normal database doesn’t bring the same provenance as Blockchain because it is a centralized system that relies on trust, is prone to failure and requires a great amount of maintenance.
- Why is digital provenance such a great benefit to many businesses?
Digital provenance is such a great benefit to many businesses due to the fact that it allows them to increase efficiency with real-time audits, remove trust from all transactions and instead allows them to verify all steps in the supply chain are up to their particular standards.
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1.Blockchain works so, that is recording encrypted transactions in ledgers which are maintained to a network of computers.
2.Because it can be changed without leaving a trace, what cannott be done with Blockchain, without allerting the whole community of users, who would see the sequence inconsistent, after the changes.
3. This is a great benefit, because it can allow real time auditing and have option to verify all kind of transactions.
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- How does blockchain enable digital provenance?
Supply chains are likely the most widely-accepted use-case for blockchain provenance. IBM, Walmart and classification behemoth DNV GL all implement blockchain provenance solutions to improve their (or their clients’) supply chains. These companies, and many more, utilise blockchain technology alongside IoT devices to:
Better track goods along the supply chain. Validating authenticity.
Trace defects and food issues back to their sources,
Prevent item fraud and tampering,
And reduce intermediaries in multi-organizational processes.
- Why doesn’t a normal database bring the same provenance?
A normal database is not immutable and it is possible to delete, amend and omit data in a normal database.A normal database is centralized.
- Why is digital provenance such a great benefit to many businesses?
It offers greater transparency and increases trust. Businesses can validate the authenticity and provenance of goods and detect and manage defects and issues in a quicker time-frame. Consumers would have greater visibility and choice and be able to place their trust that the data and the transactions are true and correct.
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- It allows you to be able to track and trace all transactions. Block chains are also immutable which means no transaction can be changed leaving no reason to have trust.
- Because you have to trust people that have access to the database, not to do anything.
- Digital provenance is such a great feature because it takes away trust and all you need is to verify.
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How does blockchain enable digital provenance?
Blockchain enables digital provenance because it gives us the ability to track data in a way that is trustless and transparent. The record is immutable. -
Why doesn’t a normal database bring the same provenance?
Normal databases are not trustless (as long as they are centrally maintained), and entries can be removed. -
Why is digital provenance such a great benefit to many businesses?
Digital provenance is a great asset to businesses because it reduces so much friction, and enables more efficiency. The blockchain can remove a lot of tedious tasks related to maintaining records, so human power can be more effectively channelled.
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How does blockchain enable digital provenance?
Through peer to peer “account keeping” a transaction is verified multiple times, setting it in “stone” & disabling it’s removal. -
Why doesn’t a normal database bring the same provenance?
Normal database recording is collected centrally through a single entity, and possibly through different recorders. This makes those records vulnerable to error, manipulation and duplication, as well as limit the opportunity for transparent audits. -
Why is digital provenance such a great benefit to many businesses?
The record keeping and tracking is easier to follow & verify. Removing the margin for error altogether, as every transaction is validated by individuals who are unbiased (regarding the record) and unrelated to each other (decentralised). In this example, trust becomes redundant and no longer nessassary.
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1. How does blockchain enable digital provenance?
Because of data transparency and the built-in inability for data to be deleted or changed on the blockchain it is possible to trace everything. Therefore the parties that are involved in an exchange of goods/services don’t need to trust each other because everything is written on blockchain and is immutable. The data that can be seen on the blockchain is enough to assure both parties that they have a secure and safe exchange.
2. Why doesn’t a normal database bring the same provenance?
The data can be manipulated which can lead to scams.
3. Why is digital provenance such a great benefit to many businesses?
Firstly they can do business safely because of the eliminated danger of scams. Secondly, they can save money because there is no need for additional audits.
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How does blockchain enable digital provenance?
The blockchain can be seen as a digitalized version of a nordic runestone, where once something is written it cannot be removed, you are only able to keep writing to it. This coupled with the fact that all nodes participating in the blockchain also have their own copies of this “runestone” meaning that transactions must be verified with all parties first. This helps to mitigate again false inputs by malicious parties. No trust is needed as everything can be verified instead. -
Why doesn’t a normal database bring the same provenance?
A normal database is prone to manipulation through various techniques such as a SQL injection for example. This is a product of the way regular databases are centralised in the hands of the particular company who only has one or a few ledgers. -
Why is digital provenance such a great benefit to many businesses?
This allows businesses to track every single transaction that has ever happened, where they got their materials/goods from, the quality of goods, where they have gone to etc. There is no repudiation taking place where one party denies ever receiving something as there is literal proof on the blockchain. This also eliminated human error as there is less manpower, time and effort required to keep track of records.
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- How does blockchain enable digital provenance?
- it allows to generate a permanent, transparent, and verified record/transactions.
- Why doesn’t a normal database bring the same provenance?
- Normal Database is controlled by a centralized entity in which there is a high chance of manipulation in data. However, in the blockchain. All data or transactions are added and cannot be removed and be verified by different individual nodes.
- Why is digital provenance such a great benefit to many businesses?
- It will provide its customers with high confidence by verifying that the product they bought or consumed was done based on their advertisement. Hight customer satisfaction means more repeat orders and an increase in average order value. Also, it can provide real-time audit which can lessen the expenses in their businesses
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