- by storing every transaction without possibility of it’s removal. It’s a ledger where all transactions are stored and are verifiable and traceable.
- normal data base can be tampered with or manipulated
- it removes a need for trust, it allows people to verify credibility of any claims in a mathematical undeniable way
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Q 1. How does Blockchain enable provenance?
Blockchain can bring to users provenance through being a Trustless network, where you can audit, verify your transactions. The transactions are immutable.That means, you don’t need to trust in third parts, you can verify yourself there in the decentralized network. This brings more security, once the Ledger is public.
Q 2. Why doesn’t a normal database bring the same provenance?
A private, centralized database can be changed, duplicated, erased, deleted, so therefore is not safe.
Q 3. Why is digital provenance such a great benefit to many businesses?
You dont need to trust in third party entities to audit. Also, the costs are less because you don’t need third parties, middleman to intermediate your money transactions.
You can always check the suppliers transactions in a very transparent way in the Ledger that is public and have all the transaction history.
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- Records cant be deleted. You can check every movement.
- Need to trust people
- transparency, everyone in the business chain can check every participant.
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Blockchain enables digital provenance due to the fact that only new information can be added to the database and none can be taken out. Essentially, this is what allows blockchain to verify and confirm information across databases and thus enabling digital provenance
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A regular database does not bring the same provenance simply because information can be altered by removing or adding more data and therefore there is not reliable history that one can refer to verify information.
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Digital provenance can serve as a great benefit for businesses in many ways. It can be used to merge information across databases and verify the information automatically in such a way that data can be automatically verified, thus removing some regulation such as audits and also removing the faith factor from customers or shareholders
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Blockchain enables digital provenance by using consensus amongst its nodes, to store an immutable transaction, chronologically in a database.
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A normal database can have its entries changed, thus it is not immutable.
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Digital provenance provides real time auditing. It does this by putting the accounting and transactions layer together. This provides many benefits to businesses such as auditing and tracing.
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By offering a decentralized DB that you can write to, verify but not delete entrys
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Normal DB’s are centralized and entries can be deleted
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Company’s can verify all parts of the supply chain proving the integrity of their product
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How does blockchain enable digital provenance?
- decentralized
- you can only add to the blockchain, not remove data
- public ledger open to everyone at any time for verification
Why doesn’t a normal database bring the same provenance?
- a normal database involves trust. Trust thats it’s complete, trust that the person tells the truth etc.
- on the blockchain you don’t need to trust, you can verify
- can be hacked or deleted
- is centralized so can be corrupted
Why is digital provenance such a great benefit to many businesses?
- costumer can verify if business is telling the truth
- business can proof that it’s telling the truth, or get busted
- more efficient by cutting out middle man
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The whole process has the opportunity of becoming completely trustless, since all data in the whole supply-chain can be verified.
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I answered question three first and now Im so tired I have to sleep. Ask Ivan… Zz.zzZzz
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By having a public blockchain ledger where we can track where, in the example of food, all the ingredients come from, where the different items have been, which part of the supply chain they have past and what the state of the product was in each point of the supply chain - all the stakeholders in the chain from farmer and manufacturer to end-consumer benefits. The incentives for businesses to take CSR and sustainability more serious will increase drastically. The end-consumers will much more exactly know what they buy, and in turn this has a great potential for the businesses to create a more loyal customer base. Furthermore, now the businesses don’t have to compete with only price as is much the case today. By educating the end-consumer about the provenance of the product/service there is also a lot of opportunity to motivate a higher price. Furthermore (again), this will have the impact of the end-consumers realising their buying power, and through consumption being able to change the society in line with their own values. The faster a business adapts to this inevitable change in traceable supply-chains today the more competitive it will be tomorrow.
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- The thing is that blockchain is a Ledger and everything is traced back so it provides digital provenance
2.Because a normal database can’t be a ledger like the blockchain, it simply doesn’t work in the same way - Because there are so much businesses that are focused on the provenance of things such us alimentary food chain, quality control chain and so on
- It can be verified where every Part comes from. Because every transaction is saved you can tell where it was and where it was “created”.
- In a normal database you can change or delete so you can`t be sure if something was left out or if the part really comes from the place the database tells you
- Because it creates more transparency. One can be sure that the Supplier doesn`t lie about there product and one can see where it was and where it was created
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- All transactions are stored in the blockchain – hence digital provenance is ensured. All claims of possession can be verified.
- A “normal” database does not have a network of computers linked to it which verifies entries i.e. transactions
- Digital provenance is a great benefit to many businesses, as it removes trust, makes the supply chain traceable, and it potentially makes certain audits redundant
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- Enables digital provenance via the inherent nature of being a public ledger that requires consensus to be created in the first place. This creates a trust-less environment, as all transactions or entries are verified automatically and visible for anyone to see.
- A normal, standard database does not have an inherent level of provenance as these databases can be, and are designed to be, manipulated in some way, via various levels of CRUD operations. This manipulation can be intentional, as in the updating of records in the normal course of business, or unintentional, as in a flaw or bug in the system or by a third party malicious actor (hack). This also requires those depending on the data to have trust in those who hold the (centralized) data, and time and again across many companies in many sectors, this trust has been broken.
- Anyone with an interest in the business can see in real time what is happening and what has happened previously. There are no waiting periods while audits are being done to see the health or status of any facet of business handled in the blockchain. This also protects both business and client against any data corruption that could have occurred with the use of a normal database, data loss or manipulation through system failures or third party actions. The traceability could also have vast positive implications across business sectors, to help everyone along the line understand and see the lifecycle and integrity of goods; from first component or ingredient to final production.
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- How does blockchain enable digital provenance?
it verifies publicly on the open ledger a statement is true. - Why doesn’t a normal database bring the same provenance?
verification process is not public and not decentralized therefore open to manipulation. - Why is digital provenance such a great benefit to many businesses?
to most business it may not be to those trustworthy ones it open them to public audit and trust. Proof of origin is invaluable so we don’t have the likes of the baby formula fiasco
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Blockchain enables digital provenance by implementing “Don’t Trust, Verify.” Data is distributed, decentralized, tracked, and open to all.
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Normal databases store dynamic content, intended to be updated, modified, purged or deleted. By default “normal” databases are designed to work interdependently and w/o knowledge of any other system outside the logical boundaries of an entity.
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Cost savings
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- Transactions are detailed, immutable, and
- Data is proprietary and vunerable.
- Saves time, eliminates Trust, Controls Quality.
- If any kind of progress is correctly captured on blockchain and verified by DLT, the informations are unchangeable and auditable at any time by any party. So the generated immutability guarantees an easy auditable provenance.
- It is impossible to assure if you receive an original or manipulated database because there is no auditing possibility for involved parties apart from the trust selling third party. That means it is not only inefficient, it is also the fact that you have to trust one centralized institution
- Because it is the most efficient and direct way to organize registered and unchangeable transfer of information or value. Auditing is possible at any time by any party. No third party needed.
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How does blockchain enable digital provenance?
Data can only be created and not deleted or altered on a decentralized ledger that is verified by each node on the network. -
Why doesn’t a normal database bring the same provenance?
Normal databases are centralized and can be edited therefore requiring full trust of a centralized entity that is subject to influence and corruption. -
Why is digital provenance such a great benefit to many businesses?
It is a trust-less and verifiable record of data providing confidence to any user who needs to make decisions based on that data.
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A blockchain that is a public ledger is completely transparent which provides a full history of verified data and transactions.
A normal database can be altered or corrupted so there is no way to verify the content of the database which means you have to trust someone else that it is accurate.
Digital provenance reduces risks and promotes confidence for businesses while also encouraging parties to honor their commitments and act ethically.
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!) Blockchaine enables digital provenance due to all entry’s being store on a decentralized database that can be added to but not removed once information is stored.
2)A centralize database can be lees secure and vulnerable to hack or deletion as a result is less secure.
3)It allows a customer real time verification of any transaction or orders and allows for transparency between customer and client
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- By having a ledger that can only be added to and is public.
- A normal data base can be changed, things can be removed and not all data bases are public.
- Digital provenance shows a products life cycle and it can be verified in real time allowing the end user to back his claims and grow his level of trust.
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