Benefits of using Blockchain:
- Decentralized which makes it secure and transparent
- Cost efficient
- Accurate
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I am all for transparency, fair distribution of wealth, and decentralisation. No cheats pleaseā¦like how Enron cooked its own books. Devastating this is happening in the 21st century.
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The future is upon usā¦ OPEN Source FREEDOM. Fast, Global(anyone can interact) Decentralized is the only way to protect our freedom. Thank you IvanOnTech, Crew and Community. Universe Speed.
Thank YouāS
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How does blockchain enable digital provenance?
*With the distributed ledger keeping track of every transaction and enabling anyone to see all transactions, there is no way to corrupt the data. (For physical goods there are many ways to corrupt the ādataā by swapping the items though).
Why doesnāt a normal database bring the same provenance?
A normal database is a centralized system, and tampering with the data is easier (depending on security in the NW) since you only have to do it at one place.
Why is digital provenance such a great benefit to many businesses?
As a buyer (consumer or company) of the goods you donĀ“t have to trust the supplier, or the supplierĀ“s supplier etc. You will have information of the origin in the block-chain.
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I have a doubt about provenance.
Just listened to the Provenance video
Ok, Ivan talks about provenance and consensus, and the benefits of blockchain in the supply chain.
Regarding the Milk-Yoghourt example.Well, transactions are recorded in the blockchain and then you can track the ingredients, where they com from, where they go toā¦etcā¦ but this is about transactions, this happens when you issue/account the invoice or make the payment but that doesn t guarantee that the ingredients (sweeteners in the example) have been actually mixed with the yogourt, That is a phisical process, how can this be reflected in the blockchain. If this doesn t happen then TRsutlessness is in question, isnĀ“t it?
I donĀ“t know if I have been clear enough with my doubt.
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HW on Provenance
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How does blockchain enable digital provenance?
The blockchain is a transparent public ledger or ādigital stoneā with no central authority. Instead of a central authority, there is a network that all share the same data. Data can only be added to the ledger but it cannot be altered or erased. -
Why doesnāt a normal database bring the same provenance?
A normal database doesnāt bring the same provenance because it may not be immutable in the same way the blockchain is. If it has a central authority responsible for the database then others have to trust that the central authority is being 100% honest and accurate. In contrast, the blockchain has a network that can all verify the same data to make sure everything is accurate. There isnāt trust in one authority, instead the network can all verify the same thing in a transparent way. -
Why is digital provenance such a great benefit to many businesses?
Digital provenance is a great benefit to many businesses because all the accounting and transactions are in one place. There can be auditing that is done in real time. Also companies can ensure that they are getting accurate information from suppliers without relying on trust. For example food companies can easily verify that the ingredients they receive from suppliers are 100% accurate. Clothing companies can make sure that they are working in an ethical way by being able to verify that none of their supply has come from child labor sweat shops. This transparent accountability along the supply chain helps to take the guesswork out of trusting one personās word.
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A system allows trust and transparency as the foundation of human interaction.
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Blockchain (DLT) ensures authenticity on all fronts be it in goods and services or transactions - any kind.
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Bitcoin blockchain is particularly intended for financial txs and these work well because you have provenance for all the way back since the Coin in question was first mined.
How this works in supply chains is more complicated and there are other projects that tackle this problem. One of them is OriginTrail. I suggest you check them out and ask how they solve this problem. 
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@AndyEken and @KVRom youāre both right 
but you posted your answers in the discussion thread instead of the thread that is intended for the homework. 
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Thanks mate. I will make sure to post it in the right place.
BR Andy
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Decentrailzed/Distributed
Permanent Ledger
Secured through Keys and Algorithms
Growing in Interest and Acceptance
Perfect environment for Contract (agreement) creation and guaranteed delivery upon completion of conditions.
@Alko89 Whoops! Thanks for pointing that out. Iāll make sure to post it in the correct thread. It was my first day in the academy/forum so hopefully Iāll start finding my way around. 
-Kyle R
Itās secure, immutable and can be decentralized. What just happened on 28.1.2021 with $GME and Robinhood is exactly why we need blockchain and DeFi.
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Hello All!
I have a question I want to throw out there:
What are the ālinksā between blocks exactly. Are they the nonces or the hash from all the data in the block, previous hash, etc? Or are something else entirely.
With blockchain technology, you take control of all your expenses, deals, and everything related to your financial problems. You donāt have to trust a single company, you donāt have to pay anyone for their service. This is huge and this is the future 
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The links are hashes from previous blocks. The nonce is just a number miners use to find a block hash that is below the desired target.
Thank you for the clarification. Are the nonces the āpuzzleā that the miners solve?
Miners are solving the block hash (looking for the correct one) using the nonce.
Hello, I m brand new here 