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By locking info on a ledger (block on the blockchain) and that same block is spread like mycelium in a network of a lot of different users who are all ways connected and verify that the data is correct in all of them simultaneously.
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A normal data base is controlled by someone who can influence the data and has clearance to do so & there will be no one to confirm or resist that changed data.
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A digital provenance will confirm where what & when any process happend in the chain till you got it / when ever you want to check,the data is there.
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Maybe I am picking on semantics, but wouldn’t it be fairer to say that “we keep multiple ORIGINALS of the database”. Because when a miner wins the math puzzle, it adds a new block to the blockchain, meaning that it kept an original of it in the first place. Like all other miners.
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- Blockchain enables digital provenance through a public, immutable ledger that allows users to trace all coins back to their original issuance.
- A normal database can be altered by whoever administers it. A public blockchain like Bitcoin is immutable, and not controlled by any individual party.
- Digital provenance is important for preventing fraud and facilitating trustless collaboration with third parties.
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- Because nothing on the blockchain can be erased and it’s all public, so you are able to trace it back to the origin and in real time.
2.A normal database is centralised, and things can be altered by anyone as they want to. It’s based on trust, not facts. - Everything is saved on the blockchain and public, so the factor “trust” can be enabled. You don’t have to take anyone’s worth for it. You can check it and trace everything back. This will make your company more trustworthy. People will know if the company is legit or not, and more importantly if their products are what they say they are.
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- real time auditing, public ledger
- different information sources doesn´t work in real time together
- much more efficient, trustless
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Blockchain enables digital provenance by decentralizing data, allowing it to be transparent, verifiable, auditable. and immutable.
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A normal database has central governance in which data is easily manipulated by a central entity. It also increases risk of downtime and lost data.
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Digital providence allows companies to be more efficient in their auditing practices, saving time and money. It also inspires confidence from customers, as the supply chain can be easily verified.
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How does blockchain enable digital provenance?
Information stored on the blockchain can not be deleted or changed once it has been added. This means that a system that uses blockchain as its store of transaction information can prove the informations provenance and be trusted. -
Why doesn’t a normal database bring the same provenance?
A normal database usually allows editing of stored information. This means that data stored on the database can be changed and deleted which removes its trusted provenance status. -
Why is digital provenance such a great benefit to many businesses?
It allows the businesses to be sure that what they think is going on either financially, in manufacturing or supply chain, etc is truly going on and be able to prove it to anyone who asks. They can trust the information they rely on to do business.
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How does blockchain enable digital provenance?
Blockchain enables digital provenance through a trust less public ledger that is immutable in that information can only be added by the supply chain. -
Why doesn’t a normal database bring the same provenance?
Since most normal databases are owned by an entity (centralised), the company can change the data, delete past records and there is little transparency if none which makes it hard for the consumers to trust the data. -
Why is digital provenance such a great benefit to many businesses?
Digital provenance would allow businesses to cut costs by increasing efficiency with real-time audits done digitally rather than manually. It would also encourage more ethical practices because of the frequency and ease audits can be executed. It would also allow companies that deal in physical products to track the origin, location, status, and quality of their products at any given time in order to bring more efficiency, transparency, and assurance to customers.
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Blockchain integrates the transaction layer with the accounting layer of an exchange, allowing the generation of a permanent, transparent record of events.
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In a normal database where the transaction layers and accounting layers are separate, there is room for error or fraud in the accounting record. Also, past data can be manipulated, which isn’t possible on a blockchain.
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Product businesses will be able to track their supply chains better, even making them public on a blockchain. The resulting transparency inspires consumer confidence and thus more customers. Accounting will also be improved, with a lot of time saved recording transactions and balancing books. Instead accounts can be maintained and audited near instantaneously.
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Digital provenance means digital tracing. On the blockchain, which is like a digital data stone, all transactions are storaged and accessable to everyone. This means the whole history of transactions can be traced. In addition data can only be added, not deleted or edited out of the ledger.
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A normal database is centralized. If it is defect, deleted or hacked, the database could not be used and all the information are damaged or gone. To use a normal database you need trust to some middle man or organisation.
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Digital provenance is making the tracing fast and real time.
Safe (not editable), transparent, solve the trust problem, all these affect the efficiency.
Don’t trust -> Verify!
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How does blockchain enable digital provenance?
Blockchain enables provenance by having a public record of all transactions that can only accept new transactions and can’t change existing records. When a transaction is added to one copy of the blockchain, all the other copies verify that the information is correct and possible. Anything that is not possible will be ignored. -
Why doesn’t a normal database bring the same provenance?
A normal database can have the existing entries edited or removed so there is no guarantee that what you are seeing is 100% accurate. It will also be centralised and controlled by an individual or organisation so there is potential for manipulation, whereas bitcoin is decentralised and cannot be controlled by one person. -
Why is digital provenance such a great benefit to many businesses?
It can allow for real time auditing of financial transactions by merging the invoices for a transaction with the actual transfer of the funds. Not just for currency, blockchain could also verify products are legitimate, such as preventing knock-off products being sold as a real designer brand or making sure the ingredients in your food come from where the manufacturer says they do. It removes trust so you and your customers know that what you are getting is legit.
Don’t trust - verify!
Blockchain enables companies to be trustless in regards to supply chains, and knowing that all things can be automatically verified.
A normal database doesn’t bring the same provenance because it’s either centralized and therefore involves extreme trust (or mistrust) or it involves some kind of decentralized system that isn’t really keeping track in a way that can be positively verified.
Digital provenance is such a great benefit because it allows businesses to easily, immediately, and with a high degree of certainty, verify many aspects of a supply chain or any kind of resources or merchandise that is being transported from one place to another, and this includes all prior history, transactions, and ownership.
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The blockchain can only be added to and nothing can be removed. The blockchain is
distributed globally and is open to the public. -
Normal databases are centralized and governed by one group or person that controls
the information. That information can be manipulated. Database can be private. -
Removes the need for trust and bureaucracy to do business. The speed of trust opens up opportunity to do business with anyone and for all parties to see and verify all transactional information.
- by storing transaction history, protecting it and making it open and public
2.normal databases are controlled, not usually open or public, blockchain is similar to a peer to peer network controlled by all who use it - all businesses who use the blockchain to make transactions will no longer have to rely on trust but will have access to proof of all transactions
After creating a piece, the artist embeds a digital signature which demonstrates the authenticity and records that information on a blockchain . Many refer to this process as tokenization because it effectively creates a blockchain -backed token that you can trade between artists and collectors.
1/ By decentralising the provenance data on multimale nodes the data can not be manipulated after the fact.
2/ Databases can be manipulated after the event.
3/ Provenance can be monitored in real time to check a supply chain for compliance.
Homework on Provenance - Questions
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How does blockchain enable digital provenance?
By writing transaction in a distributed ledger which is public accessible -
Why doesn’t a normal database bring the same provenance?
A database is quit easy to change record on -
Why is digital provenance such a great benefit to many businesses?
It saves administration in a chain of companies. Everyone is on the same page every minute, because everything is trustfull up to date it saves audit work.
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1/ By decentralising the provenance data on multimale nodes the data can not be manipulated after the fact.
2/ Centralised databases can be manipulated after the event by an administrator.
3/ Provenance can be monitored in real time to check a supply chain for compliance.
1: by having an open ledger where information can only be added and can never be taken away
2: Because other databases can be manipulated and changed
3: Because the trustlessness of it, everything is on record.
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After creating a piece, the artist embeds a digital signature which demonstrates the authenticity and records that information on a blockchain . Many refer to this process as tokenization because it effectively creates a blockchain -backed token that you can trade between artists and collectors.