- By creating real-time auditing.
- Because you cannot verify that what you’re being told is accurate, there is a large element of trust.
- Because it is transparent which fosters trust with customers and reduces the need for traditional auditing.
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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?
- Blockchain enables digital provenance with real time auditing. It combines the accounting layer with the transactional layer all in one.
- A normal database can not bring the tracking efficiency that blockchain has.
- Digital provenance is a benefit to businesses because it allows trustlessness and the ability to verify everything.
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1.through hashing formula
2. Does not allow auditing in real time
3. It allows it to work on a trustless system
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1.blockchain enables digital provenance by having a decentralized open sourced ledger which allows anyone to verify everything added to the blockchain . DONT TRUST VERIFY !
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a normal database isn’t immutable , its subject to trusting the party that added the information and trusted that it wasn’t tampered with. VERIFY DONT TRUST !
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digital provenance is a benefit to business because it can ensure supply inventory’s are accurate , that products are what they genuine and the list goes on but the main point is it removes the need to trust the parties you are involve in and frees up resources and manpower
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How does blockchain enable digital provenance?
Blockchain is an immutable public ledger which eliminates the need for trust. Blockchain enables the digital system to provide information about the source of (provenance) its components (tracking / tracing information or supplies).
Why doesn’t a normal database bring the same provenance?
Most normal databases are centralized and do require trust.
Normal databases don’t usually show the origin of their data.
The property of immutability with blockchain means that data cannot be removed or erased.
Why is digital provenance such a great benefit to many businesses?
Financial transactions can be accurately traced.
Transactions and accounting are more closely linked when blockchain is used.
Real time auditing can be done more automatically and frequently which increases the efficiency of the business.
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- Blockchain promotes digital provenance through means of hosting data in a public ledger, allowing real-time auditing and verification.
- A normal database doesn’t bring the same provenance because we have to trust that the information we are given is accurate. We are not allowed to verify.
- digital provenance can add a lot of quality and traceability to supply chains or improve operations in the accounting business where auditing is separated from operations
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Blockchain enables digital provenance via a digital public ledger of transactions where data can only be added but not removed. This allows blockchains to be trustless as each transaction can be verified independently.
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A normal database does not bring the same provenance as a blockchain because a normal database allows for information to be added as well as altered and removed. It is also administered typically by a private central authority with certain access controls but is not verifiable to the public or anyone without access or specific data insight which creates a layer of required trust
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Digital provenance is a great benefit to businesses as companys can perform real time audits and therefore real time analysis of data which does not need to be verified and which therefore allows for more efficient decision making and optomized data/records.
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Blockchain enables digital provenance by allowing trustless, real time auditing, where information or transactions can be stored on the blockchain across multiple nodes.
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A normal database cannot have the same provenance as blockchain as it is corruptible and not transparent. Information stored on a database can be modified or deleted.
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How provenance benefits business’s in today world is allowing them combine different operations within their organizations such as accounts receivable, payable, and accounting. Provenance can also be used as a trustless blockchain “database” between multiple vendors within a transactional business community, where information cannot be changed or modified to just to suit the need of single entity.
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By allowing the users to access in a safer and trustlessness-based environment in which any transaction is recorded and unerasable.
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It’s not an immutable database, then the information can be manipulated or misused.
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Blockchain is a technology that can be used in many industries, where you can track different aspects of a manufacturing line on industrial production, pharmaceutical production (testing and traceability) banking sector (compliance, transaction tracking, product management, risk premium calculation), law firms, and more. Digital provenance helps to improve the quality of products and services by leaning on existing and immutable data instead of trusting in service providers.
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- By providing a public ledger were you can track all the transactions on the blockchain.
- Because you have to trust a third party that runs the database server. It is not public and decentralized.
- Because you dont need trust, you can verify every transaction yourself and do real time auditing.
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- How does blockchain enable digital provenance?
Blockchain allows digital provenance by going from a “Trust” to “Verify” world, this by enabling confirmable records of all the transactions recorded in a blockchain that can’t be deleted or modified, this incentivizes everyone participating in the chain to play by the rules and demotivate wrongdoing because of the high risk of being caught. - Why doesn’t a normal database bring the same provenance?
Because the transactions are not available to everyone participating and can be modified by one side. - Why is digital provenance such a great benefit to many businesses?
Because of the answer in question 1
Because cost of auditing will go down or disappear.
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1.Btc enables digital provenance by recording all data for transactions in a open ledger that can easily trace origins and all transactions this ledger cannot be changed or removed only added to removing the need for trust In the system as a base.
2.a normal database cannot provide the same provenance as they are trusting other people or company’s word about the origins or contents of their supplys are actually what they say they are there is no concrete evidence or way of proving their claims.
3.it provides a great tracking system that can easily be checked and verified to prove where a product or supply has come from or been before you receive it as a customer.
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How does blockchain enable digital provenance?
ANSWER :
Blockchain enable the data that are on ledgers to be public and verifiable, data on this public ledgers cannot be deleted but can only be added to the ledgers, as such provenance which means simply tracing the origin of things and were they have been to, can be made possible due to the inability to delete the data on the public ledgers .
Why doesn’t a normal database bring the same provenance?
ANSWER:
A normal database that is not on Blockchain with a central server for data storage can have data written on it deleted, it also cannot be fully trusted because its depends on one server for its information source, neither does it offer the public verification of data on ledgers.
Why is digital provenance such a great benefit to many businesses?
ANSWER:
It’s of immense benefit to many businesses because it will bring about returns financially, which formally was big losses due to dishonesty of middle men, its enhance transparencies and accuracy.
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Blockchain is a database that only allows for verified (i.e. possible, true) transactions to be added to the ledger AND nothing can be removed. This makes it impossible for organizations, companies or people to manipulate, remove, or add fake data to the ledger. Everything is verifiable.
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A normal database is centralized and can therefore be adjusted by the “ruling authority” or anyone else who has access to the the “insides” of the database.
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It allows for live or real-time auditing, accounting and transactional coherence, and allows for checks on quality of supplies and products delivered and used from other organizations (suppliers).
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How does blockchain enable digital provenance?
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Blockchain is a public ledger that stores history of transactions without ability to delete. With that info you are able to trace/verify transactions in real time without having to trust info from third party.
Why doesn’t a normal database bring the same provenance?
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A normal database can be manipulated where items can be removed.
Why is digital provenance such a great benefit to many businesses?
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Businesses are able to verify information on their own accord without having to trust third party. It opens the door for such things as real time auditing and tracing with 100% certainty.
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How does blockchain enable digital provenance? By combining the transaction with the accounting aspect. This allows for Real Time Audits of transactions
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Why doesn’t a normal database bring the same provenance? A database separates the transaction from the accounting. A 3rd party is needed to verify everything adds up and does not allow for real time audits
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Why is digital provenance such a great benefit to many businesses? An audit can be done at any time without the use of a 3rd party
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A blockchain may enable digital provenance by maintaining a trail of records or information that cannot be easily altered or deleted.
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A database normally being maintained by a centralized server could be vulnerable to hacks or the records from the database could be altered by certain bad actors. unlike a distributed ledger blockchain where data is validated by nodes in a network, & altering or deleting data would need a consensus from all nodes, and also all subsequent blocks of data would have to be altered accordingly.
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Digital provenance benefits businesses by making the supply chain trustless and also gives confidence to end-user of the product or service about its authenticity or origins.
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Provenance is enabled and achieved through,
-Decentralization, where every node in the BC network mutates the recently updated BC
-Immutability in which the transactions once written in the BC can never be modified/updated/deleted. -
Not a computer guy, will try to answer from my common sense. Databases are private and centralized by organizations that create and use them for their business purposes. So, there’s no requirement of provenance as they do not require the citizens to verify their business transactions, which is of course not our business.
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Due to its verification process where there’s no need for trusting anyone. Well, with provenance businesses can actually prove to be trustworthy to their clients and employees by providing details of the product or service.
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1.) According to Google, Provenance is defined as “the place of origin or earliest known history of something.” Bitcoin’s blockchain is a digital ledger that has publicly recorded every transaction since the Genesis Block. Anybody who has access to the blockchain can track any transaction(s) to its origin because the entire history is available for verification.
2.) A normal database is likely controlled by a centralized authority, and is probably not publicly verifiable. It relies on trusting the owner/distributor.
3.) Digital Provenance gives businesses trust and reliability because the blockchain is transparent to everyone. It’s also more efficient because the blockchain can be updated in real time.
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