- How does blockchain enable digital provenance? Using interconnected servers updating every transaction that can only be added, not removed.
- Why doesn’t a normal database bring the same provenance? It’s centralized and not public.
- Why is digital provenance such a great benefit to many businesses? It cuts out the middle man in a trust-role.
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How does blockchain enable digital provenance?
Blockchain enables digital provenance by recording information in a decentralized public trust less ledger that is immutable and traceable and verifiable.
Why doesn’t a normal database bring the same provenance?
A normal database is maintained by a central authority where trust is required between the managing authority and users of the database. With a normal database in addition to being able to add new information to the database, existing information can be modified or removed. A normal database due to its centralized nature, is also more prone to attack / hacking.
Why is digital provenance such a great benefit to many businesses?
Digital provenance benefits businesses through safe, transparent, trust-less accessibility to transactions enabling real-time digital auditability by bringing together accounting and transactions in an efficient manner.
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Blockchain enables digital provenance in that it provides 100% transparency in transactions, real-time audit possibility, and a trust-less space to execute transactions.
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A normal database does not bring the same provenance because it requires some level of trust in transactions. They accounting information and transaction information are separate.
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Digital provenance is a great benefit to many businesses because it provides real-time verified/audits on every transaction involving the business and in all honesty, removes the element of needed to trust anyone at all in business - i.e. allowing said business to focus on more important things to create more success!
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- How does blockchain enable digital provenance?
Digital provenance is achieved by the openness and transparency of a public ledger. It subsequently allows real-time auditing. Instead of 2 data set in a centralized database that needs to be trusted, a blockchain combines the accouting and transactional layers on a distributed network allowing trustlessness.
- Why doesn’t a normal database bring the same provenance?
A regular database is not distributed on multiple instances, hence the data can be modified and/or maliciously manipulated without the knowledge of its owner, this form requires a high level of trust in the database, not allowing digital provenance.
- Why is digital provenance such a great benefit to many businesses?
To the very core, digital provenance is more than a benefit to businesses, it allows trustless systems within our society which is blatantly plagued by corruption. By allowing digital provenance on a global scale it will have nameless benefits to our society in general.
I can think of few dire examples of where blockchain SHOULD be applied to allow transparency;
-Democracy; Trustless and uncorruptible voting system
-Medical supply tracking; Trustless authentication that this drug is not a counterfeited one.
-Lobbying; Trustless virtual mapping of how our government is influenced by the private sector.
-NGOs; So many shams NGOs actually collecting money worldwide and mismanaging it in a ridiculous way. Accountability and traceability of DONATIONS.
-Etc
// add over 9000 other examples.
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Having items in a supply chain put on a blockchain increases transparency to a level that we have never seen before. Anyone can look through the blockchain to “check under the hood” and see that any claims made are accurate.
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A normal database relies on trust. Any database that is reliant on trust has the ability to be manipulated.
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With digital provenance, complete transparency will allow companies to be able to prove what differentiates them from their competitors. On the blockchain, anyone would be able to corroborate any claims of the ingredients in their products or previous steps in its supply chain.
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- Trust None. Verify. Track the transactions.
- Data can be lost or removed.
- Real time Auditing.
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- All transactions are registered by a trustless system creating a traceable provenance breadcrumb of origin if you will.
- A normal database is managed by a central authority that may be corruptible and opens the door to data tampering.
- In my past experience, I worked at Christie’s Auction House and provenance records for artwork is absolutely critical in preventing theft (ie: during wartime), verifying ownership, etc.
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1- By making it decentralized therefore the bank cant manipulate the blockchain data.
2- A normal database is centralized and it can be control by the central authority or government.
3-Digital provenance is good for business because it takes away from the data manipulation.
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Every transactions is unchageable and stocked in the chain , so we can see exactly where it went from ( provenance )
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Because we can not be sure tath a normal Database is exactly correct and if someone changed something in it or Will change anything in the future on the Database.
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It allow to track pièce of provenance winch were hard to have before, such as ingrédients in food , supplément or from where exactly the product I Buy is from.
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- The blockchain keeps a record of all transactions. Transactions can only be added, not subtracted/removed. A complete history of the blockchain is maintained on a network of computers.
- A normal database is usually centralized. Changes can be made to the data. Data items can be changed or deleted. If a normal databse is deleted there are relatively few backups. With a decentalized database it is virtually impossible to delete all of the copies.
- It provides them with a traceable history of every transaction. It is a trustless system. Once entered on the blockchain data can’t be manipulated. It would be easier and more efficient to audit.
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Since the Blockchain only allows transactions to be added, but not removed, and is decentralized, this can allow for near real time auditing where both accounting + transaction data can be contained within the record.
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Most corporate Databases are not immutable and records can be added, updated, deleted etc. The DB is also generally centralized and controlled and maintained by a central “authority”
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Digital provenance will remove the need for physical auditors. It will enable Organizations to scrutinize their entire supply chain at any point in time and the “need to trust” will be removed and replaced by “verification via mathematics”…
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1-Blockchain enable provenance by tracking every BTC transaction I have received.
2- Provenance in block chain means to have a real time auditing. A normal Data base relies on TRUST. Block chain relies on Verification of all the components involved.
3- Digital Provenance avoids any type of fraud in a transaction by verifying and not by only trusting a third party. Digital Provenance is a a feature that adds data to the block chain and disables the action of removing or altering a step in the chain.
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Blockchain is useful in storing information and data digitally. It is a database that enables tracking of all financial transactions. Data can be stored permanently but cannot be altered or removed.
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In a normal database, data can be added and removed. This would make it possible to fiddle with and manipulate data stored on the system.
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Digital provenance is a public letger, therefore enabling transparency. It enhances tracking financial transactions in real-time useful in auditing. This would promote efficiency in businesses.
It makes it possible to verify data and information. Thus, removing reliability on trust.
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Homework on Provenance - Questions
- How does blockchain enable digital provenance?
It is a transparent public ledger which allows for real time auditing and traceability. - Why doesn’t a normal database bring the same provenance?
It is not public so it relies on trust of third parties which can alter / modfiy / manipulate data. - Why is digital provenance such a great benefit to many businesses?
It allows for increased efficiency in accounting, auditing, verification of transactions, traceability of ingredients, materials, supply chain and processes
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The blockchain can enable digital provenance by decentralizing the way data is stored. Any new data that gets entered into the blockchain in verified and recorded by all members in the blockchain network. Any data that gets manipulated or removed will be detected by other members in the network and get rejected.
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Normal databases are often centralized and can be manipulated by the owner of the database. If the database cashes or gets destroyed, there is no way to recover the data from another source. Some databases can be private and not visible to all stakeholders.
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Provenance is removes trust based transactions and replaces it with ways the verify all actions.
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- By allowing traceability of each transaction, where once written cannot be changed.
2.In normal databases transactions can be changed ,removed/erased or if database crashes, data can be lost.
- Enables traceability and verification of the business products by the customers or verification of suppliers by the business and ensures transparency.
Blockchain is a public ledger that cannot be altered once updates are made permanent. This allows a user to go back through the chain of records to identify the origin or provenance of the item tracked. A normal database is designed to be changed; a blockchain doesn’t allow this. The provenance feature allows users to have confidence or trust about the origins of a thing.
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1.How does blockchain enable digital provenance?
Blockchain as a digital ledger holds the data on the transaction from its inception. Each time there is a new transaction or data swap, the blockchain copies the transaction so everyone can view it. This allows us to trace the information and verify that it is whole from birth.
2.Why doesn’t a normal database bring the same provenance?
There is usually a centralized form of control with most data bases, because of centralized control the data can be attacked, manipulated, or hacked. They require everyone to trust that the data is secure and whole when there are many opportunities for the integrity to be lost.
3.Why is digital provenance such a great benefit to many businesses?
Digital provenance is a great benefit to business because there is real time auditing. Fast and trust-less transactions, removes the middle man. All data can be traced and verified, it removes the opportunity for corruption.
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How does blockchain enable digital provenance? - By keeping track of the data in a public ledger in real time.
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Why doesn’t a normal database bring the same provenance? - Because the normal database is usually centralized and it can be manipulated with…
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Why is digital provenance such a great benefit to many businesses? - Because of the ease to keep track of products and knowledge what is really happening with any given thing… It uses the method Don’t trust - Verify which is really of great benefit for all doing business…
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Provenance enables business to easily collate data also with open data and verify key information on data ledger(block chain) which holds the most important information and allows anybody to check its validity.
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Due to the current situation with centralize authority, manufacture and government controlling it all it is very difficult even impossible to verify the source and can be easily manipulated.
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Businesses and the society thanks to the digital provenance will becomes more aware of the sources and origin of what they consume before they even buy. This leads to a healthier and confident society. For business it will make the rules an processes where nobody can modify the whole chain and all can checked. Also will reduce the cost of process an by simplifying all.