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Blockchain enables digital provenance through the ability to track flows in real-time as well as historically in an accessible format to any interested parties. This data-set can be immutable and therefore able to withstand scrutiny of allegations to the contrary.
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Normal databases can be altered and are not generally accessible in real-time or by parties that are materially effected by the flow of information on such databases.
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Digital provenance will present significant benefits to supply-chain oriented flow lines, those requiring auditing functions, and accountability metrics yet undefined. Any entity or business that would benefit from these functions will be substantially improved by adoption.
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- How does blockchain enable digital provenance?
-By making it decentralized and trustless. - Why doesn’t a normal database bring the same provenance?
-Because there is a central authority or middle man that can manipulate the data. - Why is digital provenance such a great benefit to many businesses?
-Real time auditing and tracking. Accounting and transactions in one layer.
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1.Blockchain enables digital provenance because all entries are stored chronologically in the database, replicated across multiple nodes, and cannot be altered once accepted.
- The primary difference between a blockchain and a database is centralization. While all records secured on a database are centralized, each participant on a blockchain has a secured copy of all records and all changes so each user can view the provenance of the data.
3.Digital provenance is a great benefit to many businesses because they do not have to rely on third parties to audit or access records or transactions - all the data is available openly in the blockchain. This historical transparency can also fight corruption & tax evasion and improve supply chain operations.
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Hi,
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How does blockchain enable digital provenance?
Because on blockchain you can write but you can delete. -
Why doesn’t a normal database bring the same provenance?
Because it can be modified. -
Why is digital provenance such a great benefit to many businesses?
They can track all their supply chain process, they don´t need to trust anymore, they just verified by math.
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- Because the blockchain records everything in real time.
- Because a normal database doesn’t record in real time, and it centralized.
- Because it removes trust, the blockchain records every transaction
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1 The blockchain being a real time audit, each transaction can be traced and tracked in real time so all transaction or interactions between the players in the blockchain are visible/transparent, there is no way to cheat, shortcut or hide any transaction or information flowing the chain all of them are verified. There is no more need of trust or belief.
2 A normal database is centralised and data can be removed from the database and also data can be hidden for manipulation. On the inverse with blockchain it is impossible to remove the data. it is verified by the decentralised nodes and once verified ledgers stays forever available in the blockchain and available.
3 Beyond the hability to be running a realtime ledger, every player of the chain (supply chain players for example) are verified as authentic, the supply chain quality is verified 100%. Businesses will gain hugely in reputation.
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Due to the public digital ledger that everyone can access, you can see the chronological ownership and keep track of the movements made by an entity, or a physical person. So you can only add information but you cannot subtract information from that Public Digital Ledger. For a Normal Database, you need to “Trust” whomever is updating that Database, we´ll call it “Centralize Entity”. In order to reduce the number of parties involved and “Trust”, we somehow broadcast the same database to all the computer in the world, therefore we stop relying on a single brick. By doing this, we cut off the necessity for third parties and we save a considerable amount of money on the way. A lot of businesses can definitely rely on a Digital provenance, because the can keep track on the products and merchandise the offer. This to can be considered as customer friendly because the can see from where in the world the products where built, from where products where harvested , etc.
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- the Blockchain enables digital provenance by providing an ability to trace the origins of each and every transaction. All transactions are recorded on the blockchain and each block contains all the information from the previous blocks, therefore allowing anyone to see everything.
- Normal databases are often encrypted or do not sort the information the way blockchain does because the whole blockchain is based on the hierarchy and is verified by the network.
- Thanks to the digital provenance businesses are able to trace transactions and receive them for sure without the middle man. Also, it makes it easier to keep accounting.
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Blockchain allows to track the provenance of a transaction. Every TX is on the DLT, thus on the blockchain and is immutable. Traceability is inherent with DLT / Blockchain.
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There is no immutability and thus data can be removed or altered. As the data is not on DLT / Blockchain data traceability falters.
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It provides traceability and immutability for data, therefore providing the consumer or client with a trustless environment.
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- How does blockchain enable digital provenance?
Blockchain is a ledger that enables digital provenance by storing a local copy of transactions or data real-time across the network to verify. - Why doesn’t a normal database bring the same provenance?
A normal database is centralized and connected to a central server allowing it to be manipulated. - Why is digital provenance such a great benefit to many businesses?
Digital provenance provides transparency with real-time auditing and traceability.
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Trustlessness, provenance, transparency, a distributed ledger creating a hyper-redundant transaction record, decentralization, and non-regulation (barring upcoming, potential legislation).
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Homework on Provenance - Questions
- How does blockchain enable digital provenance?
Blockchain enables digital provenance by making mainly use of it immutability function.
Once data is submitted to the blockchain, it is immutable, so this makes provenance or tracking very reliable.
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Why doesn’t a normal database bring the same provenance?
With a normal blockchain, we have the issue of trust, because a normal database can always be altered. If I am being specific, history can always be altered without trace or proof of change. -
Why is digital provenance such a great benefit to many businesses?
Now digital provenance becomes of great benefit because this enables a lot of business to be able to transact with one another in a trustless manner. All they need to do is have access to the blockchain in order to verify data and proceed. No middle man, less cost, less time waisted
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How does blockchain enable digital provenance?
All transactions are kept on a chronological ledger, which allows one to verify the authenticity of any transaction. -
Why doesn’t a normal database bring the same provenance?
We logically cannot know 100% whether or not a bank or any other “trusted” entity is being authentic with their reporting. -
Why is digital provenance such a great benefit to many businesses?
Digital provenance allows one to be 100% confident with a blockchain because it has technically been verified by every single participant rather than one singular middle-man. This completely removes the trust factor, as you know that the network is truthful when every participant comes to a consensus over the state of the ledger.
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- Information on blockchain can be added but can’t be removed, and it’s transparent every minute. So any transaction made by anyone can be seen and cans be edited.
- Normal database is changeable and there is no access for this information for everyone.
- It’s like 24/7 audit, everything and everyone is transparent.
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1. How does blockchain enable digital provenance?
Blockchain is essentially a network of computers that track and regulate the database. There is no central authority that runs the blockchain. The authority is opened to the public which verify new additions to the block are valid.
2. Why doesn’t a normal database bring the same provenance?
Traditional databases don’t have an open network of computers (ledgers) that verify transactions or changes in the database; they invoke trust because one central authority is given access to change and manipulate the database.
3. Why is digital provenance such a great benefit to many businesses?
This allows for direct and clear verification. No longer will businesses be forced to rely on the word of their partners because they will be able to check the validity of their business dealings. This ultimately forces and encourages people to act in good-will for the betterment of themselves and society.
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- Blockchain enables digital provenance by having the ability to verify all of its financial transactions. Everything on the blockchain is open sourced, meaning everyone has access to view any transacts that’s on the blockchain.
- A normal database brings the same provenance because it is the complete opposite of the blockchain. A normal database lacks total transparency and sometimes that will involve going through third-party companies to provide and verify transactions. This can be detrimental because of the limitation of seeing and/or verifying what’s on the database.
- Digital provenance is a great benefit to businesses because in today’s day and age, many companies are going digital and as technology progresses, companies can use the blockchain to provide any transactions (or even other use cases) to be visible, which will develop trust with their potential clients or customers.
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Blockchain stores the transaction happen in the network thus keeping record of the all the transaction enabling digital provenance.
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yeah, because normal database are controlled by single entitiy thus giving a trust issue with the database provider.
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Blockchain are just a technology solution which completely runs on its own. Thus reduces outsourcing of the work and saving the cost.
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Homework on Provenance - Questions
- How does blockchain enable digital provenance? The blockchain creates a record that can not be changed. The information in the blockchain is verifiable and does not require trust. For example, a drug company that makes a vaccine may not include all the ingredients; however, with the use of blockchain, the correct information can be recorded and become immutable.
- Why doesn’t a normal database bring the same provenance? Normal databases are not required to be verified and this can lead to deception, especially where one person enters the data. Provenance on the blockchain would require that many different sources verify the information for it to be approved and to become a part of the permanent blockchain database/ledger.
- Why is digital provenance such a great benefit to many businesses? Fast, trustless, incorruptible - transparent public record - creates trust (but does not require trust). World history has proven that individuals cannot completely trust those in authority or institutions to be honest. Businesses who use blockchain technology (public) will likely be trusted
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- blockchain enables digital provenance by keeping an indelible history of add-only transactions
- other databases are delible
- digital provenance helps in plenty of domains, e.g. auditing, tracking assets on-chain (e.g. food for manufacturers, cloth for clothing, etc)
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Homework on Provenance - Questions
How does blockchain enable digital provenance?
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By requiring all transactions be verified on a public ledger.
Why doesn’t a normal database bring the same provenance?
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Because a normal database is controlled by a single entity who can make changes arbitrarily.
Why is digital provenance such a great benefit to many businesses?
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Because it brings increased efficiency and less headache if audited due to all transactions being immutable.
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