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- As digital public ledge, the traceability is very easy and necessary;
- The transparency removes trust less;
- The Blockchain is immutable
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Normal database are subject for being manipulated (alter…) and are managed by one person only, Is he/she trustworthy? The normal db is centralized so only the db administrator knows the correct data/info;
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The records are the same to all users (from the source to the end-users);
- Accessible on real-time: information (data) and responsibility;
- Businesses have full info about origin of raw materials, products… also about production process;
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The authenticity history of ownership
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How does blockchain enable digital provenance?
The blockchain protocol ensures transparency of transactions as well as source and recipient addresses of transactions. I imagine that trust-worthy suppliers will want to make their brand visible in this instance in order to build up a trust-worthy reputation to end-consumers and thereby the retailers who stock their goods. Transactions are traceable throughout the blockchain and are accessible via explorers. -
Why doesn’t a normal database bring the same provenance?
Siloed processes and layers - transaction records are often separate and there’s often no connectivity of information between companies, suppliers, retailers, wholesalers etc etc. -
Why is digital provenance such a great benefit to many businesses? Ability to save on auditing costs from the likes of KPMG, Deloittes, PCW etc. Even smaller businesses will benefit. Auditing is now automated as it’s built in to the protocol. Brand strength through customer and client trust. These big companies will probably see a big shift from auditing to authentication and ratings type of activities.
Blockchain is the villigisation of trust on a global scale.
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Blockchain stores all transactions on a public ledger. This is achieved through a network of computers (nodes). Each node carry’s a copy of the most updated public ledger and verify’s the newest transaction in the block; encompassing all preceding transactions from origin to current. After every new transaction, each node will individually confirm and accept, or ignore the transaction if not verified.
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A normal database does not bring the same provenance because these transactions are not innately immutable. Additionally, the database is generally centralized and therefore may be distributed or altered maliciously.
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Digital provenance is such a great benefit too many businesses because it tracks transactions in real time. And even when the particular aspects of each transaction are encrypted for privacy, the transaction itself is trackable in real time, can be audited in real time and removes the necessity of external parties to store, track and retrieve. The potential for errors or even corruption is all but eliminated.
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cata can be removed from the database is what you are saying?
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and less need for accountant is because of the blockchain. yes?.
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- How does blockchain enable digital provenance?
It allows digital provenance because every transaction is recorded in the public ledger so it is verifiable by anyone with access to the network of nodes. - Why doesn’t a normal database bring the same provenance?
A normal database can be faulty because of human error or manipulation while entering it. The wrong data would be accepted by the database and then later transferred to other parties. This is because, unlike the blockchain, the normal database does not reject wrong info. - Why is digital provenance such a great benefit to many businesses?
We can take out the need to trust suppliers or other organizations they deal with. The business can directly verify the quality of the info or the product they are receiving by accessing the blockchain.
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Blockchain enables digital provenance because it allows all transactions and segments to be filed and traces on the public ledger. Which is decentralized; supported by many nodes. This on demand verification eliminating trusts and have a program confirm is transparency.
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Normal database is the “gangsta way” of doing things. Centralized , controlled by a party. This allows room for hacking , corruptions and non transparency.
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Digital Provenance is a great benefit because now you can build confidence with your clients by verifying your work and and origin through the public ledger our digital stone of records.
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How does blockchain enable digital provenance?
blockchain is a digital ledger which holds the most important information which allows anyone to check the validity of a product -
Why doesn’t a normal database bring the same provenance?
a normal database can be duplicated whereas blockchain is verifiable and permanent -
Why is digital provenance such a great benefit to many businesses?
preventing the selling of fake goods as well as double spending
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How does blockchain enable digital provenance?
With an open ledger. At the core of blockchain technology is a shared, distributed ledger that can be added to. This open ledger provides data of all transactions that occur on the blockchain which provides provenance, or an authentic record of the transaction, that anyone can access.
Why doesn’t a normal database bring the same provenance?
A normal database would require trust from a centralized source to maintain the database. This database’s integrity would be compromised due to this trust. A blockchain is trustless and transparent ensuring verifiable provenance. A normal database can also be hacked and edited. A blockchain cannot.
Why is digital provenance such a great benefit to many businesses?
Massively simplifies auditing, tracking and verifying for transactions.
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- How does blockchain enable digital provenance?
By storing all transactions ever happened in the network it’s possible to track the provenance of each of them.
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Why doesn’t a normal database bring the same provenance?
because is centralized and information can be canceled or removed while with blockchain this is not possible -
Why is digital provenance such a great benefit to many businesses?
because it doesn’t require to trust an entity but allow to verify the provenance thanks to the decentralized ledger
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1 - How does blockchain enable digital provenance?
With an immutable ledger, it is impossible for historic records to be deleted or amended, so we can prove that a particular state existed.
2 - Why doesn’t a normal database bring the same provenance?
The entries in the database can be edited without storing any history of the changes so it is impossible to prove that the data is original. A database may also be centralised which means that trust needs to be given to a single owner.
3 - Why is digital provenance such a great benefit to many businesses?
Authenticity adds a huge amount of value to a product and will in many cases be part of the reason that the customer chose that product (organic, fair trade). In some cases, authenticity is the only reason that it holds any value at all (art, collectables).
With a blockchain solution providing digital provenance, it can also save the business money that would otherwise be spent on staff and audit trails, as the trust is built-in, the provenance verifiable and very quick to calculate.
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Blockchain enable digital provenance by tracking and tracing transactions in real time therefore, allowing the accounting layer to merge with the transactional layer. All this through verification eliminating trust issues
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A normal database can not perform in the same way since it is centralized and based on trust systems that require third party authentication, making this system old and obsolete.
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Why is digital provenance such a great benefit to many businesses?
Digital provenance erases trust issues out of the equation when tracing transactions since they can all be verified in a decentralized ledger. By incorporating blockchain in determined processes, many businesses can reach transparency and sustainability goals in a more effective manner.
- How does blockchain enable digital provenance?
Data is cast in stone, can’t be altered or removed. All transactions since the beginning of the blockchain can be traced.
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Why doesn’t a normal database bring the same provenance?
Centralised databases are open to manipulation and can’t be trusted or verified -
Why is digital provenance such a great benefit to many businesses?
Provides transparency of origins of products to customers. Time and cost savings for the supply chain and the accounting of transactions
1.It removes need of trusting a third party. No more money laundring can be done, because you will be able to see where the money gone.
2.Normal database doesn’t bring provenence, because you need to trust a third party, who can control and change data. In blockchain you can only add data, but not to remove it.
3. Being able to trace things. Many businesses will benefit from this, because they can trace from where exactly their supply coming, what exactly are the ingredients, how it was made. This will benefit their customers as well.
- By including an immutable audit in the transaction.
- The transaction and the audit are separate functions in normal databases. There is no assurance that the data cannot be altered.
- Cost and time savings because of immediate verification.
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all transactions are stored on the blockchain and this makes tracking & accessing data trouble-free
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databases can easily be edited, data erased and leaving no trace
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trust wigthout third party influence or control: clients can verify the source, information about products.
1.Block chain technology allows for reliable data provenance thanks to its decentralized network, which acts as a distributed and tamper-proof ledger
2.A database can be manipulated by the person or persons having access to it, in the Blockchain, the information is backed up in an atmosphere not controlled by any of the parties involved
3. Data provenance saves time and money and prevents fraudulent acts, e.g. in audits
- The blockchain enables digital provenance or history/traceability as the blockchain can be added to but data cannot be removed. A user of the block chain can see back in time all of the previous transactions or additions to the chain.
- A normal data base can be altered by users or the administrator and as such a degree of trust is required to believe the data. A normal database might be subject to hacking, or subject to a single point failure of storage in which case all the data might be lost. The blockchain is stored in many nodes and as long as just one survives the complete history is retained.
- The immutable history provided by the blockchain removes the requirment to trust people who are subject to many influences, some of which may be counter to your goals. The blockchain history provides an easy and trustworth audit path which makes it easier for businesses to show compliance with regulations.
- By using blockchain that uses a number of computers to track transactions, provenance is possible because all of the transaction information is able to be included and verified.
- A normal database only tracks a piece of the transaction not all of the information. Example: When paying a bill out of your checking account, the database only shows who was paid, the amount and the date. There is all of the information about what was purchased, etc. that is not included.
- Digital provenance is a great benefit to businesses because it includes an auditing of the complete information of a transaction that is traceable and verified. This makes it so clear what occurred in the transaction.