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Blockchain is a public ledger that can only be added to, and not removed from. Because of this, it is completely transparent and anything can be traced.
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Because a normal database is usually centralized and controlled by one party. Data can be skewed, hidden, or tampered with which does not allow the same provenance.
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Businesses are able to rely on a trustlessness process that will provide efficiency as well as quality to their products and services. Businesses will be able to verify all aspects of their goods and services prior to them receiving it.
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- A Blockchain establishes “provenance” by confirming transactions with math. Once confirmed, a transaction record is permanent and cannot be changed.
- Normal databases cannot establish “provenance” because transaction records in normal databases can be changed.
- “Provenance” of Blockchain databases benefits businesses by allowing businesses to provide services with no risk of fraudulent practices and eliminates time and costs of auditing transaction records.
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Yes blockchain has provenance because every transaction can be traced back to the very first transaction. Blockchain technology is extremely effective because it is completely decentralized it is almost imposible to hack. The fact that you can track for example the contents of food and processing of food products can be done in real-time traceability.
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Blockchain enables digital provenance, by keeping records of everything without being able to change records as you mentioned in the example of a rock/tree. You can add to it but you cannot remove from it.
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Normal databases are run off of trusting an individual or an entity.
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Digital provenance is a great benefit to many businesses as it removes any human errors and provides real-time auditing and accuracy.
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- How does blockchain enable digital provenance?
Blockchain is a Public Ledger where you can add transactions but can’t remove. So you can track or audit them in real time. - Why doesn’t a normal database bring the same provenance?
Because a normal database is centralized and can be changed anytime which makes it untrustworthy while in blockchain it is unaltered. - Why is digital provenance such a great benefit to many businesses?
All the transactions can be traced directly by skipping third parties (accounting, auditing) and verified by anyone.
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Homework - Provenance
How does blockchain enable digital provenance?
By enabling real-time tracking of transactions and / or products. This makes the auditing process alot more efficient, increasing transparency, trust and accountability between entities.
Why doesn’t a normal database bring the same provenance?
Normal databases do not bring the same provenance because they rely heavily on trust and there is no certainty on how accurate the information is. Normal databases can be edited and are less secure.
Why is digital provenance such a great benefit to many businesses?
Businsesses face new challenges of maintaining visibility into the origin, authenticity and handling of information/products. Therefore, digital provenance provides a unique, shared source of truth, providing a full transaction history, ultimately benefiting businesses by improving safety and standards.
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- The way that the blockchain is built, means information is immutable and is almost never tampered with.
2.Normal databases are usually centralized therefore can be tampered with. - Will show customers that the business believes in complete transparency.
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[quote=“ivan, post:1, topic:8423, full:true”]
Homework on Provenance - Questions
- How does blockchain enable digital provenance?
-It allows for real-time auditing which would also disrupt the current auditing system. It also combines the accounting layer with the transaction layer
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Why doesn’t a normal database bring the same provenance?
*Current financial systems are too slow, too clunky. They can receive invoices, but actual information about them, where they came from etc, is not present. * -
Why is digital provenance such a great benefit to many businesses?
[/quote] They cannot track in real time, or even get the same amount of detailed information for their own logistics. A manufacturer could in theory not only know if their own product is 100% accurate, but they could even check the history of their supplier if their own track record has honest work. BONUS: This would benefit a consumer as well because it would be insanely easy to be able to pick and choose what products we want.
Please Can somebody Let me know my score !
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- By enabling us to track where assets are moved, which hands they’ve passed through, how they’re being used, etc. Immutable and verifiable.
- They are controlled partly by people who own them, thus requiring trust. Data can be manipulated by the one controlling party.
- It allows them to keep track of the flow of various goods/assets without risking human error and corruption.
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- How does blockchain enable digital provenance?
Blockchain allows for transactions to be tracked and traced in real time due to it being a public ledger - Why doesn’t a normal database bring the same provenance?
Normal databases can be hacked, erased, and audited. Built on a foundation of trust, the process in place is not completely transparent. - Why is digital provenance such a great benefit to many businesses?
Digital provenances give users the ability to verify transactions rather than having to simply trust the party they are interacting with.
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1- The original BTC or peer to peer digital cash system is a times-stamped distribued ledger. Which means that all BTC block chains are immutable databases, that is to say, which cannot be deleted, or rather do not allow a rollback without forking the original source code.
2 They have access to your data without you being able to really control it, they are supposed to ensure the security of this one until it is lost, hacked or censored according to their own policy or will. In addition, they happily use them for advertising profiling and even resell them to certain companies such as Saleforce or other. they have a centralizing control
3 - Digital provenance is a great advantage for companies, first of all because the use of an explorer allowing to trace the transactions stored in the time-stamped distributed ledger establishes the computer confidence of the immutability of the data of the BTC blockchain since its first transaction. , which avoids gauging the human trust of the contractor or the intermediary with whom we interacted. Then because of this fact, we can trace through and through all the development check points of a product, from the extraction of a raw product to its manufacturing transformation to its point of sale, and those without the need to rely on the interaction and trust of several costly intermediaries. This allows for trustless disintermediation.
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- It enables digital provenance by being able to track all transactions/occurrences without a central entity being able to change/lie about it.
- A normal database can be changed and is controlled so that an entity can lie. Also it’s not as traceable as you may not know who made the change or which entity did something.
- It is such a great benefit to most businesses because they can know what their getting and what the individual parts are, rather than not be in the loop and not have access to a lot of these transactions/occurrences.
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Blockchain enables digital provenance by providing (public) ledgers that provide transparency, allowing transactional tracing all the way back to the origin of the original, and every transaction.
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A normal database does not bring the same provenance because it can be altered in the form of data removal.
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Digital provenance is beneficial to many businesses because it removes trust variables when it comes to partnerships and transactions and instead allows users to verify information in real-time.
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- Blockchain is like a public ledger and data can’t be removed
- Because it is centralized and data can be removed
- Digital provenance removes trust All transaction are recorded on the blockchain which makes it trust less
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Provenance capability of the Blockchain is huge. It makes tracking possible. With this singular quality of the Blockchain Technology, one can rightly say, “don’t trust but verify”.
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1.Blockchain provides full transparency on transactions
2.Normal databases are centralized and controlled by a specific party, not a ledger network. Data can also be removed/ edited in central DBs
3.Good for business to verify transactions, instantaneous auditing capability / improved efficiency. Everything can be traced.
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Blockchain enables digital provenance by allowing everyone to view all transactions that have happened in the blockchain and also we don’t have to rely upon any central entity.
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A normal database is owned by a central entity which cannot be accessed by anyone without authority. Anyone with permission can edit or delete records and there is little to no transparency.
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It provides a platform for trustless system where clients can verify all the transaction and access full ledger.
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One of the main components of blockchain technology is eliminating the need for a middleman in so many areas. Provenance is the definition of this. “Don’t trust, verify” is a slogan to demonstrate this. Blockchain ties all aspects of transactions, whether monetary, informational or movement into one single transaction, which is then stamped in each block to prove that the parameters are true. A normal database does not tie all of these aspects together in one place and requires an external source of trust, ie an auditor, to verify that the information is true. Provenance provides such a great opportunity in innovation because it creates a transparency on a public blockchain that is otherwise nonexistant. As mentioned in the video, it is possible to have a nonpublic side of the blockchain but still it provides definitive proof that certain processes did in fact happen without question.
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How does blockchain enable digital provenance?
By providing an immutable ledger of all transaction since the beginning. -
Why doesn’t a normal database bring the same provenance?
A normal database is not trustless or immutable also typically doesn’t record all transactions since the beginning. -
Why is digital provenance such a great benefit to many businesses?
It valuable in simplifying auditing and also tracing a products history in the supply chain trustlessly and open.
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as you described, transactions in blockchain are like engraving on stone, which cannot be removed, duplicated or manipulated; therefore, all databases can be used for accurate tracking.
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if that is a non-blockchain database, it will neither carry the in-duplicate nature nor de-centralized network, data will have risk to be manipulated.
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It will bring efficiency, accuracy and trustles-ness to database tracking in different purposes.
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