If you are unfamiliar with the term “data provenance,” it refers to the records of the systems, entities, inputs, and processes that influence data of interest. The goal of data provenance is to provide a historical record of the data and its origins. Media data provenance is the process of applying data provenance to various types of media in order to validate and track the data that is being generated through various media channels.
Media Data Provenance and Blockchain Technology
Blockchain technology is revolutionizing media data provenance. This is because with blockchain technology, data provenance is significantly more powerful, accurate, and effective. All key points of data can be recorded on a blockchain, and those data points cannot be reproduced, altered, or otherwise tampered with. This is because blockchain technology is highly effective at preserving the integrity of data through public distributed ledgers.
With blockchain technology, it is possible to take media data provenance to the next level. Here are some of the top aspects that blockchain is helping with in terms of media data provenance:
- Validating the authenticity of luxury goods
- Validating the sources of academic resources and making sure data is not tampered with
- Identity verification
- Force/child labor prevention
- … and more
Because blockchain technology dramatically improves media data provenance, it is possible for companies, associations, universities, and other organizations to track their data much more accurately. This is beneficial not only for the particular organizations, but also for society at large. It is also possible that one day, public elections will rely on blockchain technology to validate accuracy and authenticity.
Media Data Provenance and Crypto Prices
Cryptocurrencies are valuable for a number of different reasons. For example, they are a solid alternative to people who do not trust their government’s sovereign currency, or for those who simply do not like to deal in national currencies. Cryptocurrencies are also a good store of value and can be a hedge against inflation.
Highly effective media data provenance is just one more reason why cryptocurrencies and various types of blockchain-based digital assets like security tokens will likely increase in price over time. Cryptocurrencies and other blockchain-based digital assets are a giant leap forward for media data provenance, and this technology is only likely to become more and more valuable in the future. This is especially true considering the fact that data scandals such as the Cambridge Analytica scandal have heightened the need for improved data provenance.