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Blockchain enables digital provenance by tracking every transaction. No transaction can be removed. Blockchain is a public ledger.
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Blockchain is decentralized so the data can not be changed. Information can only be added, not removed. Every transaction alerts the entire network.
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It is safer, easy to verify, can be tracked in real time, and businesses can prove whether or not they have an issue.
- Provenance is the tracking or record of ownership of something. On the blockchain, this can be seen as the recording of a transaction from one wallet/entity to another. Blockchain technology has accounting as a part of the transaction – proof of transfer and ownership is baked in.
- A normal database does not have proof baked in during the recording of a new transaction or record as part of the process. One could build a database that doesn’t have proof of ownership at all. Because there is no way to verify absolutely with a normal database, anyone could conceivably just record whatever they want. There is trust involved with normal databases, whether trust in the software, the data team or the guy who built it.
- Digital provenance is a great benefit to many types of businesses. Accounting is done without the need of third parties, it is less costly, one could easily track transfers and ownership saving money and time.
How does Blockchain enable digital provenance?
Blockchain is a public ledger - it records all transactions - you can add to it, but cannot take away. That makes it transparent - you can track and trace all transactions in real time, so no auditing is required. Don’t trust - verify!
Why doesn’t a normal database bring the same provenance?
A normal database can be changed, updated, therefore hacked, erased, or altered. Normal databases require an auditing system to ensure accuracy (almost impossible) and are not efficient. They are opaque, not transparent.
. Why is digital provenance such a great benefit to many businesses?
The transparency of digital provenance allows businesses to track supplies, ingredients, and transactions in real time, increasing efficiency, and ability to verify, rather than trust, their supply chains. Food, clothing, supplements, etc.
- Trustless and immutable verification of transactions.
- Regular databases are centralized and changeable.
- Can be verified without external auditors.
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How does blockchain enable digital provenance?
Digital provenance is achieved through an immutable ledger called the blockchain. -
Why doesn’t a normal database bring the same provenance?
A normal database can be changed by anyone with little verification and authorization with low visibility and without consensus. -
Why is digital provenance such a great benefit to many businesses?
Publicly Traceable, Easily Auditable = Trust, the more trust business has the more valuable it is considered.
- How does blockchain enable digital provenance?
Data can be written on it, but cannot be removed, therefore it’s possible to track the origin and history of a data point. It’s impossible to move a data if there’s a discrepancy between majority of network members.
- Why doesn’t a normal database bring the same provenance?
Data can be removed and tampered with
It’s not audited in the real time
- Why is digital provenance such a great benefit to many businesses?
The ability to remove the trust factor. For example (the way I see it), a Farmer sells the oats to the Company, and the Company processes and sells the cereal to the Store. Company purchases 1000 units of OAT from the Farmer, and sells it along with 1000 OAT and CEREAL to the store (although, due to the production process efficiency, some actual oat might be lost, but it’s a general idea) and producing CEREAL to generate profit from production. Therefore, the Store and it’s consumers can be assured the ingredients are what they’re said to be, and the company cannot legally sell the physical oats as it wouldn’t add together in their books (or the production machines wouldn’t generate enough CEREAL tokens - that’s also an option, though the whole case further split into pieces would get quite compelx)
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Blockchain enables digital provenance by using a public ledger to remove trust. It allows for realt time audits of encrypted and un-encrypted information.
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A normal database does not bring the same provenance because the ledger is not public in most cases and it requires trust from all users.
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Digital provenance is a great benefit to many business because it allows for tracking of all “ingredients” in their supply chain in real time.
- By being decentralized and trust-less. Its records can not be altered. A public ledger.
- The need to trust database owner. Central authority that is in control.
- Easy customer verification and validation. possibility of real time auditing.
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Because blockchain doesn’t allow for data to be removed, we are able to trace the provenance of a transaction.
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In a normal database, information can be removed, altered or lost, thereby making it more difficult to verify a transaction.
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Digital provenance provides more information to consumers/businesses about the products that they are purchasing/selling. Consumers and businesses can verify the information that they are being given about a product.
- Blockchain enables digital provenance because blockchain is public and anyone can verify and controll the transaction.
- In a database, you can remove data, so anyone can falsify data.
- Digital provenance is a great benefit for many business because all data are verifiable easily, and also auditing are more efficient.
- How does blockchain enable digital provenance? - blockchain combines accounting and the transaction allowing you to trace and verify transactions
- Why doesn’t a normal database bring the same provenance? - normal databases need manual auditing that is much less efficient
- Why is digital provenance such a great benefit to many businesses? - real time auditing is much more efficient. It is gives business the ability to trace all transactions without the need for a third party and removes trust from the equation. Everything is able to be verified.
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Blockchain enables digital provenance by creating an immutable database in which any changes made in a supply chain can be viewed and verified.
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Normal databases can be altered or tampered with and therefore cannot be trusted.
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Digital provenance eliminates the need for trust in a supply chain thereby creating a more efficient, cosy effective and verifiable product from origin to end product.
- 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?
- Because the public ledger can be traced and works decentralized.
- You can remove data from a normal database and it’s not verified by others.
- Manly because it removes the trust-aspect. Cheating will be much harder and transactions faster. You don’t need as many middle men and you can audit in whenever you want.
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Blockchain makes it possible because it keeps track of everything that happens. Once a transaction is made, it is not possible to remove it. Since blockchain is a public ladder, it can be seen by everyone, but not changed or removed.
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Normal base could be changed by the owner, making it uncertain. Also, it is more complicated than blockchain, because with normal ledger you have to look at all sort of different books and papers to get any information. On the other hand, with blockchain, you have all the data on the same place, also, all the changes are written in the real time.
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Accouting and auditing are done without the need of third parties, which automatically means lower costs. It also enables all parties involved to have a high level of trust between eachother, since you can keep track of everything thats going on related to the given product.
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Blockchain is a digital “stone”, meaning that once you add information to the chain you can never ever remove it. This enables anyone to audit the entire data base of transactions from the very first transaction to the last because the contents is completely open to the public.
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A normal database can be tampered with and therefore the legitimacy of the information can be compromised by anyone who has access to it.
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Transactions and accounting can be woven into one database, which can increase efficiency and productivity.
Homework on Provenance - Questions
- How does blockchain enable digital provenance?
Example, in the Military we used ammunition, it had a LOT #. This Lot number was a way of defining where and when a group of munitions were manufactured. So if there was a problem with x, y or z, then we could isolate and or quarantine all of that lot throughout the military. So obviously provenance is important!
Blockchain enables digital provenance because of the distributed nature of the database and the supposed cryptography that can’t allow the database to be altered.
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Why doesn’t a normal database bring the same provenance?
The centralization of the database is the biggest problem. I experienced this in the military as well. Compartmentalization of information always allows certain key players to escape accountability. If transactions were recorded on the blockchain and they were public then accountability or provenance wouldn’t be in question. Assuming the cryptography and other interlinking components are as we are told. -
Why is digital provenance such a great benefit to many businesses?
Customer to Business relationships could be improved greatly since most of the time customers demand trust that often businesses can’t provide. If a product was to be sourced from many different locations, some of which a customer might not want to support, say Chinese manufacturing practices, this information might be locked into the product data sheet and not alterable by the business. Assuming the initial data entry was done correctly. Digital provenance provides many benefits but we have to remember that the initial data entry must be scrutinized otherwise, garbage in and garbage out.
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Blockchain enables digital provenance because the data stored in blockchains cannot be modified, erased or tampered with.
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A normal database has a central system which is subject to manipulation, compromise and data being lost because of its failure.
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Digital provenance is a great benefit to businesses because of the fact that transactions can be verified and accounted for and it is no longer a thing of trust.
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Blockchain is like a stone so every transaction is engraved in the ”stone” and can’t be erased. Blockchain is the digital version of the runestone. You can therefore track all provenance of the transactions.
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In a normal database, a transaction can be removed or erased. In that way a central authority or government that can control it or manipulate it.
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One example is transparency, being able to track supply chains better, quality control, like ingrediens of food or the provenance of the clothes. Child labour etc etc. The transparency inspires consumer confidence.
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1- Provenance is achieved by the immutable nature of blockchain, being it a database where you cant delete or rewrite previous written data, you can then be sure that the information you are looking at is authentic and unmodified data created at the time it was written on a given blockchain. That said, in any blockchain network environment, data can be mathematicaly validated by its members/users/costumers, they dont need to trust other members/businesses of the network to assess the quality of the data they are checking.
PS:(does decentralization play a role in provenance?)
2- Normal databases are centralized and not immutable, one can write data on them but also delete it, modify it or simply loose it. This features require the existence of trust wich cant guarantee the same level of provenance.
3- It brings verifiable transparency for business environments, that by itself significantly reduces the possibilities for cheating, speculating and manipulating data,prices,quality claims etc… This must have a big positive impact on costumer satisfaction.
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Homework on Provenance - Questions
- 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?
Answers:
- Blockchain is a pulic ledger database were information can be stored, tracked and seen be everyone in realtime. The information on the blockchain can’t be erased, changed or hacked by an entity and thus carries a seal of trust.
- A normal database can be changed, erased by the owner of that database in comparison to a a pulic ledger database.
- 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.