1.since block chain is not governed by a bank or a company it is spread as digital code or program which act as network related to each other and could not be hacked or written by someone to cheat, so if anyone try to affect it by adding to himself BTC other server or network will refuse that.
2. It is digital stone and that mean the data if it written cannot be removed unlike other database you can change and remove date…
3. it secured any interfering or copying more btc and connect a lot of server
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- How does blockchain enable digital provenance?
Provenance is a achieved by keeping a record of transactions within the ledger. - Why doesn’t a normal database bring the same provenance?
A normal database can be corrupted and altered whereas bitcoins past transaction record is immutable. - Why is digital provenance such a great benefit to many businesses?
The ability to a Audit and the of tracking of a supply chain to its origin improves business transparency and trust.
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- Blockchain/Ledger enables digital provenance by having transparent public transactions.
- Because it is centralized and you cannot verify your transactions. And it is based on trust.
- Because they can track every transaction and not lose information by making them. Besides, it is safe and you can verify them.
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- Blockchain enable digital provenance by creating immutable records of transactions. Any transaction can be tracked to its origin. It constructs a trustless system that can not be altered.
- Because a normal database is centralized and you can manipulate and edit the information.
- Digital provenances make transactions transparent, accounting is done without third partys. Auditing of transactions is possible in real time, what saves money. All these increase efficiency.
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Allows each transaction / entry to be tracked to its origin, due to it being posted on a public ledger, this ledger is decentralized so its not possible to alter it, entries are immutable and hence provenance is achieved.
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Normal databases are not decentralized and thus can be altered by a party.
3.Allows for transparency of goods and services. Makes it easier to prove and also disprove the authenticity of “marketing” claims.
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- Blockchain works as a public ledger that everyone has access to. Everyone has a copy of what’s happened, so it’s impossible to fabricate data on a single node or computer.
- A normal database has a central authority that manages all information and information between central authority and members is usually private. Since everyone has a copy of the ledger it’s very difficult and expensive to hack, since you would have to manipulate all nodes in the blockchain.
- It cuts the middleman for many businesses and it’s easier for them to more reliably see where the products are coming from. There’s no need for trust from their providers, they can verify themselves where their products are coming from.
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Homework on Provenance - Questions
- How does blockchain enable digital provenance?
- The digital provenance of a blockchain is decentralized. The decentralized ledger is stored on multiple entities (individual nodes or mining farms). Blockchains can have different types of decentralized provenaces where the consensus is PoW, PoS or PoA (note: some methods are more decentralized than others, depending on the usecases they are trying to solve and their needs).
- Why doesn’t a normal database bring the same provenance?
- Simple, no decentralization.
- Why is digital provenance such a great benefit to many businesses?
- Ease off use -> transparent, low cost, instant, traceability…
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By using mathematics and Scientific methods to verify transactions thereby removing trust from the equation
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Because with Blockchain it Tracks the Accounting and Transaction layer in one place and it can be verified there and then.
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Businesses can track and verify transactions at any step of the way and that eliminates any trust issues. Also provides real-time auditing.
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- Blockchain allows for a chronology of ownership.
- A normal database requires trust. Information stored in a block can not be changed therefor ownership or custody of an asset can be tracked. This creates a trustless environment.
- Digital provenance is a great benefit for the ability to track something through time. The example you gave was the ingredients for a product. Other benefits may be for tracking all kinds of transactions or events through time. Outside of business it would be a great tool to securely maintain an account of significant moments in history as we move forward.
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through trustless and immutable transaction, no one can alter transaction because of blockchain technology.
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because a normal database is centralize, unlike on blockchain, it’s decentralize that no one own the network. it work mathematically that trust no one but verify.
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Because there is no central authority that can manipulate. by doing it decentralize, no one will trust each other, instead every transaction is verified mathematically.
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Blockchain enables provenance by providing the history of all previous action, such as transactions for bitcoins blockchain. And like a “digital stone” NO ONE is able to erase or make changes to the historical data.
Normal databases are controlled by entities that have the authority to change data at any instance. Which creates a lack of ability to trust.
Being able to track products a business uses from its creation, with no loss of trust makes digital provenance a huge asset for businesses on their back end. While at the same time, having that provenance provides trust between the business and their customers/consumers.
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- Digital provenance is provided by an immutable database of transactions.
- Because in a normal database data can be changed, revised or even deleted.
- Because digital provenance provides a way for businesses to be able track each transaction and trust the data in the transaction because they are automatically verified by the network.
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- Blockchain enables digital provenance, because every (trans)action is recorded, traceable and can not be removed.
- A normal database can easily be manipulated. Data can be edited or deleted.
- Digital provenance will have many interesting use cases we can’t even think about yet. The fact that a digital asset has it’s own traceable, immutable history can open up a lot of opportunities for the art or gaming industry. Information like origin, ownership, rarity of a digital (or digitalised) asset can therefor determine its value.
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How does blockchain enable digital provenance?
Blockchain is an immutable database, where information can only be added and not removed. -
Why doesn’t a normal database bring the same provenance?
Information can be adjusted or removed within the database. -
Why is digital provenance such a great benefit to many businesses?
Transparency - both for the business with their suppliers, and the customers of the business.
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1. How does blockchain enable digital provenance?
Blockchain is an absolute record of ownership, authenticity and quality that cannot be reversed or changed only added too.
It allows us to trace and track for real time auditing. Thus enhancing, financial process efficiency.
2. Why doesn’t a normal database bring the same provenance?
A database is a structured set of data held in a computer, it is accessible in various ways and its content can be reversed, changed and added too. We are unable to verify it is correct in its entirety.
3. Why is digital provenance such a great benefit to many businesses?
Digital provenance improves the efficiency of the entire business process. A decentralised network allows us to verify each process, moving towards a trustlessness model of business. Inherently improving productivity.
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- Blockchain enables you to verify the source of the information. Because its based on trustlesness, no one is able to “lie” to the network. If there is a “lie” network will refuse the information.
- Because normal databases are cetralised. Centralised entities are based on trust in them and that trust has been broken so many times. The one who is in the center of power will eventually use it in his interest.
- It allows customers to verify the source of the product/information quickly, easily and because its based on trustlesness the posibility of altering the source of origin is reduced almost to zero.
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- So that anyone can verify from where/when/from who something came.
- Because it is not public, so not anyone can see it + it can be modified
- So they can show if they are real
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1.) Blockchain enables digital provenance by keeping data as an immutable ledger. Because no one can change the data, one can easily verify the origins of the data. The data being immutable is what enables digital provenance.
2.) A regular database can not do this because the data can be changed. Therefore, one would have to trust that it is accurate.
3.) Digital provenance is such a great benefit to businesses because it removes the need for trust. Clients/consumers can verify the data on the blockchain and becasue it is immutable, they know that it is accurate.
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How does blockchain enable digital provenance? by being public (decentralized), verifiable, traceable and immutable (trustless)
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Why doesn’t a normal database bring the same provenance? because it is private and controllable (centralized) the data can be edited/changed and thus trust in the centralized entity is required.
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Why is digital provenance such a great benefit to many businesses? because it allows for real-time tracking and verification of transactions (more efficient) further allowing companies to overcome trust issues that arise when dealing with suppliers.
- How does blockchain enable digital provenance?
Blockchain enable digital provenance through real-time tracing of any transaction whether it be financial or other businesses. Blockchain is a public ledger where you can add transaction into database in which a transaction can be traced through verification. - Why doesn’t a normal database bring the same provenance?
A normal database can be removed or deleted. Blockchain, on the other hand, the transactions are put in database of network of computers. Each computer has a copy of all the computers. - Why is digital provenance such a great benefit to many businesses?
Because it brings efficiency in businesses through tracing ability and real-time auditing.