Provenance allows us to have a level of transparency and traceability that we never had before. It is a new way to tackle branding through transparency. This disrupts the advertisement business model by using actual story telling instead of romanticizing a fictional one. It helps create ads that are beneficial for both the producer and the consumerUses the blockchain to store information about every element of a product. When someone wants to know the story of a product, he can see the entire production process, not only the last step. He can know where each part come from, how it was made, who made it and how it was brought up together. Blockchain is beneficial for several reasons:
1.Integration. Everybody is using the same database, the blockchain
2.data accuracy. Nobody can tamper the information in the blockchain
revenue stream: businesses pay a monthly fee to be part of the provenance project.
This project as the potential to change the way we consume. The main issue that the blockchain solves here is data ownership. It is challenging to find a common ground for this kind of data and having it in a fully decentralized yet standard format makes it possible. Also, the nature of the blockchain makes it non temperable and resilient to any attack to make the data unavailable.