Homework on Provenance - Questions

Blockchain and Bitcoin 101
#1

Homework on Provenance - Questions

  1. How does blockchain enable digital provenance?

  2. Why doesn’t a normal database bring the same provenance?

  3. Why is digital provenance such a great benefit to many businesses?

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Homework on Provenance - Answers
Https://forum.ivanontech.com/t/homework-on-provenance-answers/19635
Provenance homework1
#2

Just wanted to let you know, that in the course, you link to the wrong questions. The link is for the homework on security and immutability and not about provenance, the link cant be clicked btw, you have to copy and paste it into the adressbar

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#3

Provenance
Provenance684×625 50.5 KB

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#4

1- By making it decentralized therefore trust less. in which no central authority or government can control the blockcahin change the data in it.

2- Because there’s a central authority or government that can control it or manipulate it. and there’s a lot of trust involved in a normal database.

3-Because it can bring costumer satisfaction, in which costumers can verify and make sure if the products are high quality or bad quality, and verify if the materials/ingredients that the company say that they use are actually the ones they do, and where are they coming from.

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#5

Fixed now, thanks :slight_smile:

#6

  1. Blockchain allows to track the provenance of a transaction. Every transaction is written on the blockchain and cannot be removed (immutability). Blockchain is an open ledger where every transaction can be traced back.

  2. Because in a normal database, a transaction can be removed or erased. If the database crashes, data can be lost. And it is probably much more difficult to trace back a transaction, it doesn’t have the same simplicity as with blockchain.

  3. Because it provides the possibility of real-time auditing and accurate tracability, among other benefits.

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#7

Good third point :+1:

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#8

Thanks!, you have a good point on the second one.

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#9
  1. As you said, blockchain is like a stone so every transaction that is written on it could never be erased. Therefore by storing each step of the supply chain one can verify the origin of each product.
  2. A normal database is centralized so it can be hacked easily by attacking the central point
  3. Digital provenance allow us to remove trust from the equation
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#10

How does blockchain enable digital provenance?
Blockchain enables digital provenance through a trust less public ledger that is immutable in that information can only be added by the supply chain.

Why doesn’t a normal database bring the same provenance?
A normal data base is owned by a central authority with the information stored on hardware or in cloud storage where the owner has or can assign administrators who determine access controls. This requires trust. Administrators can amend or remove data this can become a problem if multiple silos are providing data to a central network as disparity and corrupted data can compound any consequences to outcomes arising from the information extracted by users, this is especially critical if an organisation assumes liability for the information they provide to end users or need to investigate a supply chain issue. Rubbish in rubbish out.

Why is digital provenance such a great benefit to many businesses?
Digital provenance is a great benefit to a business as users can have confidence a suppliers information is correct as a ledger can be created from the seed of the supply chain to end user with the ability to provide data in granular detail. The use off RFID can further reinforce this by providing a digital passport for individual products enabling the identification of authentic or counterfeit items.

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#11

  1. How does blockchain enable digital provenance?
    Blockchain helps digital provenance by keeping permanent records and improving transparency. Also since the blockchain is decentralised no 1 single company has control over the data, no one can change the information or database, in other words it is immutable.

  2. Why doesn’t a normal database bring the same provenance?
    Since most normal databases are owned by an entity (centralised), the company can change the data, delete past records and there is little transparency if none which makes it hard for the consumers to trust the data.

  3. Why is digital provenance such a great benefit to many businesses?
    It is beneficial as it encourages verifiable trust by allowing others independent or direct access to full ledger or data starting from the origin to shelf. It also reduces traceability time from days to seconds.

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#12

Blockchain enable digital provenance by making transactions verified and trusted.
Normal database can not bring same provenance because it is centralized and data can be removed.
Digital provenance is a great benefit because it fight cheating and data manipulation.

  1. List item
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#13

Provenance:

  1. Blockchain allows you to make an indelible ‘rune’ on its permanent ledger. Each transaction on this database is verified by a network of computers that verify each transaction. Bitcoin was the first decentralised currency that could not be changed or tampered with by any third party. The transactions are verified and the network ensures trust.

  2. Normal databases can be centralised. Often they are owned by third parties where you cannot access them. The wrong people maybe able to access the database including bad actors. The right people may not be able to easily access the database because of it’s location. There are many stakeholder on a chain and often multiple databases are needed to manage a particular chain whether that be financial transaction or a supply chain. A disjointed chain brings more opportunities of system failure or breakdown. Each stakeholder in the chain may not be able to verify in real time.

  3. Blockchain brings 'Digital Provenance. One public or private ledger that can been seen or accessed by the right stakeholders to give real time data in any data chain. This is a revolution for businesses whether they be private or public, local or global. Real time responsibility and trust can be gained in the whole supply chain for instance. Whether you are tracking a parcel from Sydney, Australia to London, England everyone involved in the handling and delivery of that parcel is accountable, therefore the customer/s can see in real time, and trust that their service will be delivered. A food manufacturer can trace meat from farm to fork - when the animal was born, on which farm, a history of that farm (any H & S concerns) how, when and where it was slaughtered, how long it was stored for, where it was shipped to and from, how it was cut, where it was manufactured and packaged, where and how long it was stored for etc etc. This ability gives all stakeholders, businesses, customers, supply chain one point of reference that can be seen, verified and trusted and managed offering the opportunity for massive efficiencies and the removal of middlemen and unnecessary red tape.

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#14

  1. Blockchain can secure encrypted information (personal, financial, etc) on a public ledger. This information can be automatically audited in real-time which drastically increases the efficiency of any system that requires frequent reviews or examinations. It also creates an immutable history of audits for the user.

  2. A normal database is not as secure because it is stored in a central location rather than being distributed among thousands of nodes. As a result, information can be tampered or altered more easily. Not having a distributed network supporting the public ledger would also disable automatic real-time audits as there would be no available copies held by a large enough network to test the validity of inputs.

  3. Digital provenance would allow businesses to cut costs by increasing efficiency with real-time audits done digitally rather than manually. It would also encourage more ethical practices because of the frequency and ease audits can be executed. It would also allow companies that deal in physical products to track the origin, location, status, and quality of their products at any given time in order to bring more efficiency, transparency, and assurance to customers.

I appreciate any corrections, constructive criticism, or additions to my responses. It’ll help me learn and maybe it can help you too! :100:%

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#15

  1. Blockchain creates immutable ledgers that contains all the informations related to the production of goods, such as the provenance of raw materials in the food production. All these data are fixed in the big database which is blockchain and can be verified by anyone anytime.

  2. A normal database is subjected to the arbitrage of a central authority that holds the keys to access to its data, therefore the informations stored in centralized database can be manipulated anytime by whom holds the keys.

  3. More efficiency and costs reduction by the control of the supply chain. Even more important traceability is a growing value in today’s society that will reward companies that are most involved with the environment and transparent toward consumers in the processing of goods.

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#16

Provenance:

  1. How does blockchain enable digital provenance?

digital provenance= digital tracing

blockchain = digital data stone, which storage all the transaction information, so all the history can be tracked, even some are damaged or dysfunctional.

Also, the data can’t be deleted, so it exists forever.

  1. Why doesn’t a normal database bring the same provenance?

The normal database is centralized. If it is defect, deleted or hacked, the database could not be used and all the information are damaged or gone. If the information is gone, not to mention of provenance.

Besides, digital provenance is making the tracing fast and real time.

  1. Why is digital provenance such a great benefit to many businesses?

Safer, more transparent, track in real-time, solve the trust problem, all these affect the efficiency.

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#17

  1. How does blockchain enable digital provenance?
    Blockchain record encrypted transactions in ledgers which are maintained to a network of computers.

  2. Why doesn’t a normal database bring the same provenance?
    A normal database is like an excell sheet which can be changed quit easily.

  3. Why is digital provenance such a great benefit to many businesses?
    You don’t have to trust third parties on their transparancy.

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#18
  1. 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.

  1. Why doesn’t a normal database bring the same provenance?

Answer: In a normal database where the transaction layers and accounting layers are separate, there is room for error or fraud in the accounting record. Also, past data can be manipulated, which isn’t possible on a blockchain.

  1. 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. Accounting will also be improved, with a lot of time saved recording transactions and balancing books. Instead accounts can be maintained and audited near instantaneously.

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#19
  1. Digital provenance is possible through verification of all transactions through a network of computers.
    2)Normal database is simply designed for storage whereas in blockchain verification is possible within the network.
    3)It fills the loopholes exists in various supply chains which is based on trust rather than verification. It makes traceability of all transactions verifiable which opens up new avenues of business.
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#20

  1. To battle forging, physical merchandise can be fitted with sealed RFID labels, multi dimensional images, and QR codes that get looked over each phase of the inventory network. This data is then recorded on a blockchain, furnishing partners with a straightforward, secure, and exceptionally exact review trail.

  2. Because a traditional normal database is centralized. Moreover the records can be naturally edited and deleted. In addition a normal database doesn’t provide audit functionality. To it’s credit, Blockchain is decentralized which makes it almost impossible to acquire a centralized control due to efforts and money to acquire the right to change (51%). This also means there is no single-point-of-failure and 24x7 availability. Additionally, it’s not possible to edit or delete functions as it supports only add only functionality. Also it’s works as a ledger which provides real time audit.

  3. Businesses can use provenance information to follow and improve quality control and examining all through their supply chains, prompting more noteworthy production network efficiencies.

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