- How does blockchain enable digital provenance? Its a trustless hard enclosed landscape of data, when the data/info is entered into the blockchain it cannot be erased or modified (its a permanent record and verified by numerous uncentralised machines.
- Why doesn’t a normal database bring the same provenance?
I guess they can be hacked and manipulated by their controllers and so lose their value and trust, very old hat. - Why is digital provenance such a great benefit to many businesses? Its the future way to prove sources and perhaps quality of items within the supply chain, this is new ground but maybe one day a coffee bean will have a recorded journey to your cup!
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The integrity of the provenance of the blockchain arises from the fact that many “eyes” (nodes) are continuously verifying the data. Akin to a community cookie jar where everyone counted the cookies every ten minutes expecting missing or additional cookies to be accounted.
A normal database, located in a central location, does not have as many “eyes” checking the data and is easier for the data to change without scrutiny. Consider the community cookie jar managed solely by one of, or a group of, the local teenage boys.
Blockchain provenance provides a much higher integrity of the data entered into the ledger. Said another way, because of the reduced risk of mischief or mistakes, the expected count of the cookies in the cookie jar is much more likely to be factually accurate.
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Provide immutable data, like a stone.
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A regular database require good faith of data provided is in good hands, which is not always true.
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The ability to track a transaction through time, guaranties the veracity of information and transparency itself
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- Block chain enables digital provenance by being a public record that allows anyone to trace financial transactions while also not allowing transactions to be removed.
- A normal data base is controlled by an authority meaning information can be withheld or changed.
- Digital provenance benefits many businesses because it removes trust and gives the ability to verify and track transactions.
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All transactions on the bitcoin blockchain are transparent so auditing those transactions becomes very easy
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Even though a regular database can be transparent with the information it displays it can be altered.
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It brings trust between parties
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Homework on Provenance - Questions
- How does blockchain enable digital provenance?
Through a network of computers or “nodes” which validate transactions. Each transaction must be true and able to be initiated/completed. - Why doesn’t a normal database bring the same provenance?
A normal database is centralized and can not be validated or proven to be true by multiple incentivized parties. The data can not be manipulated or be false. - Why is digital provenance such a great benefit to many businesses?
Supply chains can be audited in moments, saving time and money.
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Homework:
- How does blockchain enable digital provenance: By permanently storing transactions on an auditable open decentralized public data base that cannot be altered or removed.
- Why doesn’t a normal database bring the same provenance: A normal databases are controlled by a central authority where provenance can be manipulated, censored and edited.
- Why is digital provenance such a great benefit to many businesses: A trustless digital record of transactions, supply chain history, products and services will create greater efficiency and customer satisfaction.
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1-has Blockchain disable the property of coping in the digital world, this permits the to know the beginning of something’s existence.
2- a normal database can be duplicated an and everything has the same value and share the same true.
3- the information can’t be counterfeit.
sorry my bad English! blessed Firefox dictionary!!
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Blockchain enables digital provenance thanks to its set in stone nature. It is not possible to erase or hide what has been inputted/created on the blockchain. When blockchain stores each step in the process it allows the receiver to verify each step in that blockchain process thus enabling a fully trustworthy/trustless setup?
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A “normal” database cannot have provenance due to the fact that it can be manipulated by human interference/bias. The ability is there to change, rewright, erease, evade information from a process/product that will prevent the buyer/user from knowing the full picture of how that process/product came about. You cannot fully rely on this information and instead have to rely on the reputation of the process/product in question.
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Digital provenance is and will become a great tool for businesses who provide a genuinely good service/product. It will give them strength in market in that they can really push the sale of their service/product knowing they have nothing to hide. It will allow them to promote key aspects of their business others might not be able to as the proof will be on the digital provenance. One only needs to go look and verify that the business is 100% providing what they say they are. That will help the well run thriving businesses as it will keep competition honest. If you verify your businesses actions etc through digital provenance it will become more and more known that that business is reputable?
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- How does blockchain enable digital provenance?
Answer: Blockchain integrates the transaction layer with the accounting layer of an exchange, allowing the generation of a permanent, transparent record of events- IMMUTABLE
- Why doesn’t a normal database bring the same provenance?
Answer: Normal database where the transaction layers and accounting layers are separated, there is room for error or fraud in the accounting record. Past data can be manipulated giving rise to issue of “trust”. Blockchain has element of “trustless”-Do not trust But Verify as well as Decentralised.
- Why is digital provenance such a great benefit to many businesses?
Answer: 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. Accounts and transactions can be maintained and audited REAL TIME.
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each transaction can be tracked and available to the public to inspect, can’t be altered.
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no way in traditional databases to verify the transactions.
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no need for an auditor to physically visit you. Trustless system because everything can be tracked by looking at the public ledger. Better accounting than traditional methods
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- Blockchain removes the need for trusting of a central authority or a small group that can possibly collude to achieve results that may not be beneficial to other parties.
- A normal Database can be manipulated. There is not a large group of nodes or validators to validate the data as authentic and matching so consensus can not be achieved without any possibility of data corruption and or manipulation. Meaning If you have 100 copies that all match from 100 different sources, the chance of fruad is practically eliminated.
- It can eliminate fraud, Authenticate merchandise, reduce costs, enable cross border commerce, enable commerce in situations where sanctions may apply, and eliminates the possibility for charge-backs due to fraud. Not to mention the real time auditing mentioned in the lesson.
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Yes. It can also modify the data. This is usually done by an admin that is financially incentivized to lie about the past data.
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Homework on Provenance - Questions
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How does blockchain enable digital provenance?
Because blockchain is a public ledger/database that stores all the data that is added to the database. This database can be seen by everyone and can be used to track data. -
Why doesn’t a normal database bring the same provenance?
A normal database can’t achieve this. This is because it is not using a p2p network where all the computers have a copy of the ledger and communicate with each other. A normal database can be manipulated. -
Why is digital provenance such a great benefit to many businesses?
Everything is traceable. It is a fast payment, there can be no manipulation. A company using blockchain is very attractive because of the open-source they use. They can be considered trustworthy which is a big benefit compared to the same businesses that don’t use blockchain.
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That’s it. Keep up the great work. 
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All important aspects of the blockchain are covered with this answer. Pretty well thought out.
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But can it provide an un-changeable record if its public? Wouldn’t anyone be able to change it if we made it public?
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Your assumption is correct. 
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Its definitely hard to imagine this today. I assume many people said the same thing about internet. That we would one day all be connected. And here we are, all learning together miles away from each other. It gives me chills. 
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Nice example.
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