Blockchain is a public ledger with immutable data that is fully traceable.
Because a normal database is centralized and the data can be changed, deleted.
You don’t have to trust the third party.
Homework on Provenance - Questions
- How does blockchain enable digital provenance?
-Information in the blockchain can not be changed afterwards. - Why doesn’t a normal database bring the same provenance?
-Normal database can be changed afterwards or get hacked. In blockchain you can not hide or delete information because of a public ledger. Blockchain is also almost impossible to hack. - Why is digital provenance such a great benefit to many businesses?
-It will reduce trust when the source of the product is visible. Too many benefits to list in 1 min
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How does blockchain enable digital provenance?
Answer 1: The public open ledger aka blockchain enables anyone to digitally trace any transaction, along with provenance which melts, bundles certain categories to simplify a process and give you the truth in real time. -
Why doesn’t a normal database bring the same provenance?
Answer 2: Provenance is like the true lifeline in history, a mother knows that she gave birth to a single son, not twins, a carbon copy. -
Why is digital provenance such a great benefit to many businesses?
Answer 3: It’s like gathering all my penny’s, nickle’s, dime’s, and quarter’s, dropping them in a coin exchange machine and simply knowing that I just had single dollar bill.
Blockchain is like a viking stone where digital currency is placed. In blockchain digital currency cannot be taken out but can be verified through digital provenance.
A normal database is centralised and controlled by bankers and auditors. Provenance is auditing in real time that is decentralised.
Digital provenance is a great benefit because of real time auditing and verification process.
- By creating an immutable record of existence.
- A centralised database is prone to manipulation by a controlling party.
- It creates an indisputable record of proof that is not based on trust.
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How does blockchain enable digital provenance?
• Blockchain enables digital source verification or tracking by providing an unchangeable ledger that is open, searchable, and thus verifiable to anyone who has a stake in the origins of a marketable good. The marketable good will be recorded throughout the life-cycle of the product on the blockchain, this provides digital provenance.
2. Why doesn’t a normal database bring the same provenance?
• Normal databases are centralized and changeable. This allows for tampering and thus alterations of the data contained there in.
3. Why is digital provenance such a great benefit to many businesses?
• It provides a one stop shop for anyone, business, customer or outside third party to verify, track and or trace a good that is going through the supply chain. With real time auditing, there will be a reduction in cost of such services and the benefit will be past back along to the customer and the business alike in terms of lower costs.
• It’s also a great benefit to the world as a whole. If countries like China oppress there people, like in hong kong, and think there are no repercussions then digital provenance would make it, potentially, very easy to boycott all goods from a region who’s government wasn’t following public desire. I see this as a potential tool for controlling the actions of centralized authorities from a decentralized leash.
- How does blockchain enable digital provenance?
By decentralizing the verifications of the quality of the registered information on the blockchain - Why doesn’t a normal database bring the same provenance?
There is no trustlessness - Why is digital provenance such a great benefit to many businesses?
There is a way to verify the information without having to pay extra simply by transferring the registration of the information to the blockchain
1 How does blockchain enable digital provenance?
Blockchain guarantees provenance by validating the information present in the ledger without the need for auditors or third party validators.
2 Why doesn’t a normal database bring the same provenance?
Because a normal database can be modified, is not decentralized, therefore there is a need for trust.
3 Why is digital provenance such a great benefit to many businesses?
It offers real-time auditing with no extra-costs and/or the need for third party expertise.
- It cant be falsified or erased.
- normal databases can be falsified and lost.
- Digital providence is great for a business . Because say Whole foods can’t sell bottled water with arsenic in it without everyone knowing it.
- Blockchain enables digital provenance because it gives us the ability to track transactions or information from its origin, where nothing can be removed, just added.
- A normal data base doesn’t bring the same provenance because it can be changed and therefore cannot be trusted.
- Digital provenance is a great benefit to many businesses because is not based on “TRUST” but it is rather VERIFIABLE… ‘I love the slogan, don’t TRUST… VERUFY’.
1 A blockchain enables provenance by distributing it’s ledger of all transactions over decentralized nodes.
2 A normal database transaction can be mutated (single point of failure).
3 It brings a third tier to transaction accounting.
How does blockchain enable digital provenance?
No one entity controls the digital “scribe” to the ledger. Transactions can only be added and never removed. Programming stops transactions from taking place if satisfactory conditions are not met to perform transaction.
Why doesn’t a normal database bring the same provenance?
Normal databases are controlled by one entity that have all the rights to add, remove and or delete a transaction from the ledger.
Why is digital provenance such a great benefit to many businesses?
It will all for real time auditing and proves transactions are exactly what they say they are. Meaning no human trust has to be involved.
The Provenance of Blockchain in its nature ensures
that all transactions are have trustlessness built into them, So that noone needs to trust only verify.
A normal database can be changed and manipulated by the one who controls it.
Digital provenance is a great benefit simply because all of their accounting can be audited real time
within seconds vs. old school ways.
1.How does blockchain enable digital provenance?
Blockchain enable digital provenance through adding immutable information on a trust less public ledger in real time. It allows the information to be audit, traced and only added by the supply chain.
2.Why doesn’t a normal database bring the same provenance?
A normal date base is owned by a central authority with the information stored and the owner assign administrators who access controls.This is trust based and brings opaqueness of data. Administrator can amend and remove data makes the information less transparent and less traceable.
3.Why is digital provenance such a great benefit to many businesses?
Digital provenance is a great benefit to a business as end users can verify a suppliers information with the ability to trace the data in a granular detail. It enables the identification of authenticity, provides assurance to end users and more time efficiency.
1.How does blockchain enable digital provenance?
For crypto currency a permanent ledger is required. No copy-paste solution or any temporary method is adequate and self defeating. For this ledger a “digital stone” is required. Where only adding can be done. No erasing is allowed. That way a transaction done in some part of the world is accepted worldwide. This enables “trustless” transactions to be performed.
2.Why doesn’t a normal database bring the same provenance?
Normal databases are “impermanent” devices and subject to continous change. Whereas blockchain ledgers are permanent and can be audited from the very first transaction.
3.Why is digital provenance such a great benefit to many businesses?
Besides crypto currency transactions where a faithful account of all transactions is required. Digital provenance offers numerous advantages that normal digital record keeping doesn’t have. Inventory is one aspect where blockchain applications excel over traditional record keeping methods. Through blockchain the entire history of the product is displayed. From creation to marketing, distribution to final consumption.
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How does blockchain enable digital provenance?
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Why doesn’t a normal database bring the same provenance?
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Why is digital provenance such a great benefit to many businesses?
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Blockchain enables digital provenance by only allowing the addition of transactions and never the deletion or changing of existing transactions. The same database exists on every node in the blockchain so it is impossible to forge or interfere with transactions because you would have to update every single node in the blockchain simultaneously. The transactions are also available for public scrutiny.
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A normal database does not bring the same provenance because only one copy of it exists (apart from backups) so it is easier for a bad actor to hack or update the transactions.
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Digital provenance is a great benefit because you can see the full, complete and accurate history of a supply chain, an account, or the origin of goods without having the take the word of a third party or relying on extraneous documentation. You do not have to trust anybody or anything.
- By creating an immutable record of existence.
- A centralised database is prone to manipulation by a controlling party.
- It creates an indisputable record of proof that is not based on trust
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How does blockchain enable digital provenance?
It allows the ability to track items such as Financial transactions and supply chain. There is no central authority that can manipulate data. -
Why doesn’t a normal database bring the same provenance?
It allows editing of history which removes provenance. -
Why is digital provenance such a great benefit to many businesses?
It provides the ability for real time auditing and removal of trust from the equation.