- It helps to track and trace transactions in real time through its public ledger. This enables real time auditing as both transactions and accounting are open to view for anybody, at any given time.
- It is not as transparent as it doesn’t include verified details of both transactions and accounting.
- It is trustworthy. You don’t have to trust any instance, it allow anyone to verify everything with math. Among winning trust, you also win in reducing overhead costs linked to for ex. auditing.
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It enables trust-less environment in which transactions are made, by making every transaction immutable and tractable.
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Because it can be changed and is heavily reliant on trust and authority.
3 It provides companies with transparency, verifiability resulting in less friction in doing business
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Unlike traditional databases, blockchain is a trustless, publicly accessible ledger that is designed to be an “append-only” data structure. All verified data is permanently stored across nodes, thus making it immutable and irreversible. This way, blockchain enables digital provenance. Furthermore, blockchain allows digital provenance by providing the ability to track and trace all transaction records in the publicly accessible ledger.
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Traditional databases are subject to a single point of failure (i.e. not distributed) and a centralized authority, thus making it more vulnerable to data manipulation, system failure and attacks. Due to the decentralized, distributed and P2P nature of blockchain, there is no single point of failure or central point of control, hence making it significantly more resilient than “normal" systems. Each node in the network maintains a copy of the records, hence only blockchain (so not traditional databases) will immediately identify unreliable information.
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Provenance enables trustlessness in blockchain. Hence, participants in the decentralized network do not need to know or trust each other in order for the system to function. Furthermore, provenance makes financial processing/accounting more efficient and cost-effective since blockchain puts together the accounting layer with the transactional layer.
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Blockchain enables digital provenance by creating a ledger in which every transaction can be viewed. Also, because no transactions can be doctored or removed, they are considered genuine.
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A normal database doesn’t bring the same provenance because it can be manipulated by those in control of it. The database can also crash, be wiped-out, altered or hacked. Also conventional databases are not easily viewed by everyone affected.
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Digital provenance is such a great benefit to many businesses because their customers can easily discover where their products are sourced. Therefore those customers can know whether the products are genuine, of satisfactory quality and ethical - this builds credibility. The auditing of their transactions are also simpler, quicker and cheaper.
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By keeping data that they canot removed/changed, on a public ledger, that all the participants could have a copy.
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Because beeing centralized, could hacked/manipulated or just fail without a way for the publick to anticipate.
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Because gives efficiency to a prosess, provides “realtime auditing” and
a way to trace.
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The Blockchain allows businesses and the general public to easily collate and transfer data,including open data on an immutable public data ledger. This data cannot be manipulated and can be verified. Blockchain is trust-less and does not need a third party to confirm and verify all key information is present. Data cannot be erased on the blockchain only appended which makes all actions transparent thus showing a full .chain of custody. The information is contained on public nodes which is accessible for verification at anytime. DON,T TRUST-VERIFY
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Traditionally before Blockchain, data was stored on a central database controlled by a cooperation, government or governing body. This meant that the database was open to manipulation, attacks and corruption. Blockchain is decentralized with peer 2 peer nodes making it impossible to corrupt from a single point of entry, making blockchain more secure, trust-less and transparent.
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Digital provenance can benefit businesses in numerous ways, digital provenance reduces costs and time by eliminating the need for costly and time consuming third parties in transactions that need verification. Legal costs in these transactions can sometimes be costly. Blockchains trust-less nature reduces these costs and speeds up the transaction. Businesses can also have the peace of mind knowing that they are getting what they have paid for with a complete chain of custody with verification. (E.G. is this product glutton free?) This will also reduce legal disputes.
Businesses will also benefit from being able to add multiple layers in the blockchain which streamlines and reduces costs.
- Question:
- All transactions are traced and tracked in a real time.
- No central authorities, banks or Gov. can control, change o manipulate the data on it.
- Data can’t be removed once stored.
- Question:
- Normal database can be hacked. The data can be erased, lost or corrupted.
- Gov. or any authority can control or manipulate.
- Question:
- We are able to know what we’re receiving and what was used f.e. for manufacturing processes, how the products were made, stored, located and etc…
- Creates transparent ecosystem.
- It gives a possibility for real-time auditing, trace or track.
- Blockchain enables digital provenance by its organisational structure. A blockchain is a network of ledgers in which every individual ledger stores the complete data making it impossible to cheat. Therefore, once the transaction is a proofed by the network the data can not be changed or deleted.
- In a normal database, the data can be manipulated or deleted and is usually owned by an individual authority.
- Provenance makes absolut transparency possible. Companies can literally show that their supply chain is sustainable and environmental friendly. It also allows consumers easily to track certain products where they are coming from and how they are produced.
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Blockchain enables digital provenance because you are trusting the blocks to verify and trust the information they are giving you as opposed to a fiat system. Trusting the ledger is and the blocks is the definition of blockchain provenance and truly the first step of decentralization.
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A normal database can be skewed or manipulated down the line. Due to the complexity of the blockchain, a transaction will always be caught and verified immediately.
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Provenance is a great benefit to business and the actual consumer because there is a verifiable and clear trust through the blockchain. Whether it be inventory or money or whatever the blockchain is being used for you can always verify amounts through provenance.
- How does blockchain enable digital provenance?
Blockchain is a public ledger and all the transactions can be tracked in real time . - Why doesn’t a normal database bring the same provenance?
The normal database is based on trust, not verified ,can be hacked and all the information’s you put there can be changed or erased . - Why is digital provenance such a great benefit to many businesses?
It will benefit every business because they will know what exactly what will get , all the ingredients can be tracked . This is based on verification and not on trust as the normal data base is.
The blockchain cant be manipulated, what is written/happend stays in the ledger. A network of computers that all working to verify the ledger gives a whole new era of digital trust
A normal database/ledger can be manipulated in any whay to suit a interest. That says it all 
just add or erase information you don’t want to show public. Trust nobody, Verify.
Blockchain technology can solve a lot of trust issues in a lot of businesses where you want to verify origin of stuff for example
- Blockchain enables digital provenance by design of its open and accessible ledger. Since anything added to the blockchain cannot be removed it becomes traceable giving us the ability to find the origin or provenance of somethin.
- A normal database doesn’t bring us the same provenance because it is not trustless and it can be manipulated by a single point of access.
- Digital provenance is a great benefit to many businesses because it gives us the ability to verify the origins of anything on the blockchain. One example would be the ability to identify defects in a supply chain from Farm to Table. If a product like lettuce was traced back to its origin, we may be able to identify where a problem occurred. Possible contamination at a particular farm, or the ability for a particular processor to provide high quality checks before passing it to the next step. The product could be scanned into the blockchain at each step so any issues can be traced back to the source. Patterns can be identified and addressed saving time, energy, money and potentially public health in the process. There are unlimited use cases for businesses to benefit from blockchain technology.
1. How does blockchain enable digital provenance?
By keeping track of data in real time om a immutable public ledger.
2. Why doesn’t a normal database bring the same provenance?
You have to trust a centralised database that could be a single point of failure. By accident or on purpose
3. Why is digital provenance such a great benefit to many businesses?
It can solve the issue of trust, because it adds a layer of transparency and traceability to your proces.
1- By trucking all items in the public ledger. We can check what was the state of the product in each place . We can check where they came from. We can truck financial transactions.
2-In normal database we have to trust different people, or companies (3rd party ).
At the moment is all working on trust and it is opaque.
3-Because is trustless and we can truck ingredients in your food .Blockchain can put together accounting layer and transactions layer (at the moment they are separation) Is also able to track where your clothes came from. etc.
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By allowing real time tracking and auditing anyone can see the origin and destination of a transaction thus proving its authenticity.
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A normal database is centralized and private allowing it to be susceptible to tampering and unauthorized modification.
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Being decentralized and allowing for real time track and audit allows a system to become trust-less. This provenance is valuable to a company due to being able to verify data points through mathematics in place of trust.
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All transactions are recorded on the ledger- which is public, this allows tracing of any transactions from address to address.
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A normal database is based on trust that the data stored will not change at a later date. Blockchain is immutable - meaning that data can not be changed.
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It can solve many issues when it comes to having to trust a third party for anything. Blockchain gives everyone involved confidence that nothing has been tampered with, i.e. Food ingredient tracking.
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- Trustless , we dont need bank for our transaction that is written on block and can be traced and tracked by everyone.
2.Information in central database can be deleted, stolen, manipulate.
- Is not based on trust because is verified.
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How does blockchain enable digital provenance?
Blockchain secures provenance through a set of ledgers that verify each transaction in real time and only moves forward. Not allowing history to be altered. -
Why doesn’t a normal database bring the same provenance?
A normal database is centralized and can be changed or manipulated by anyone with access -
Why is digital provenance such a great benefit to many businesses?
It is trust-less and can be verified publicly adding value to their product through transparency.
Homework
- How does blockchain enable digital provenance?
I watched two excellent videos that illustrated this point
In this age many consumers care about the integrity of the products they buy. Blockchain technology provides the capability of logging where each component that comprises each instance of each product can be accurately recorded. This can even include the source of labour, so we can know if we are purchasing products created through slavery such as child, prisoner, forced labour, indentured workers etc. Products can be scanned before purchase to enable provenance information to be retrieved from the blockchain. A purchaser can then evaluate ethics, product safety and any other factor that is of concern.
Because the blockchain can never be changed once updated, the opportunity for fraud is minimal.
Product evaluation is just one instance of how the blockchain provenance capabilities can be used but this particular scenario illustrated to me how much power exists within this technology. It also had me thinking about blockchain provenance and registered charities. The potential to evaluate their ethics and where each dollar of donation ends up would be a huge opportunity for this technology.
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Why doesn’t a normal database bring the same provenance?
Because normal databases are not regulated and can be tampered with through directives from their management, data entry personnel, programmers and database administrators among others. Blockchain is held on multiple machines and are audited continuously by each platform to ensure they all remain in alignment. Any rogue update that does not align is ignored.
Well, that is how the Bitcoin Blockchain works, but I am as yet unclear if Blockchains that monitor provenance operate in the same manner. Will they also occur in multiple instances? Sigh, more homework. Unless someone can help me out here
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Why is digital provenance such a great benefit to many businesses?
Busineses can prove the provenance of their supply chain and are therefore able to also supply the provenance of the goods they produce.
This information is retrieved using a single code that irelatrs to each product (or batch of product) and this code can be used to interrogate the blockchain for provenance at any point in the supply and retail process. There is less need for text dense paperwork to be produced in shipping and at point of sale, to convey this information.
- Everything is on a public ledger for anyone to see.
- It isn’t public. Can be edited by malicious actors.
- It provides transparency and accountability to their products. For example, if your coffee brand claims that your coffee is made from 100% Arabica beans, you could prove it on a blockchain. Whereas, if a competing brand just claimed it as fact through marketing, consumers would more likely buy your brand considering the provable track record.