The significance of data provenance in blockchain applications lies in its ability to provide a verifiable history of data ownership and transactions. Data provenance ensures the integrity and authenticity of information by tracing the origin and lifecycle of data across the blockchain. This transparency aids in establishing trust among users and stakeholders, as it allows them to confirm the legitimacy of data. In sectors like supply chain management and finance, data provenance is crucial for compliance and auditing processes. It ultimately enhances accountability and minimizes fraud risk in transactions.