Homework on Provenance - Questions

Blockchain and Bitcoin 101
#2062

  1. Due to the qualities of blockchain - everything can be tracked in real time.

  2. Normal databases are owned or centralised. There is no transparency.

  3. It brings a new level of monitoring for both the business and the customer. Both businesses and customer are able to see a complete and verified transaction from start to finish. E.g Customers would be able to see where their food is coming from and no longer question the information provided. Businesses would be able to follow their transactions live and make change / implement new strategies quicker.

1 Like
#2063

  1. A blockchain enables digital provenance through immutability and decentralization of shared information.

  2. A normal database, by contrast, can be centralized and susceptible to a single point of failure.

  3. Digital provenance is especially beneficial when lack of transparency in chains of supply present issues of trust. Auditing of businesses can be done with transparency and efficiency of transactions. Validation and verification can be done through open data and security.

1 Like
#2064

By being able to track original data.

#2065

Q1. Blockchain enables digital provenance by maintaining a permanent and unalterable ledger or record of all transactions.
Q2. Normal databases are not permanent, they can be altered and manipulated, they rely on trust and are therefore disputable.
Q3. Provenance can provide a trustless, reliable, efficient, permanent, irrefutable and up to date record of data, transactions etc.

2 Likes
#2066

  1. By bing completely decentralized and immutable. Data can only be added not erased.

  2. A normal database is centralized and owned by one entity. Data can be not only added but also changed and erased

  3. It offers full traceability of items and also real-time auditing - besides others.

1 Like
#2067
  1. Blockchain makes digital provenance possible by keeping a public ledger for all transactions.
  2. Normal databases cannot bring the same level of provenance because companies still rely on trusting their suppliers.
  3. Digital provenance is a great benefit because audits can be performed whenever and/or continuously.
1 Like
#2068

1.) By maintaining a public ledger in a network were there is consensus and you can only ad not remove data.

2.) Because a normal database can be altered/changed.The Ledger can be anything you want.

3.) Dont trust, Verify!

1 Like
#2069

Hi Steve. Could you answer each question 1 by 1? I hope to hear you answers soon. :slight_smile:

2 Likes
#2070

Certainly Mauro,

Thanks

1 Like
#2071

1.Blockchain enable digital provenance because no transaction can be erased.Also because of the public and permissionless ledgers so anyone can check and add anything
2.Because a normal database can be hacked easily by attacking the central point.
3.Businesses can prove if they have an issue or not.

2 Likes
#2072

1 blockchain immutability
2 traditional DBes allow delete actions
3 real time auditing; math-based verification

1 Like
#2073

  1. How does blockchain enable digital provenance?
    Blockchain is a public ledger where information can only be added and never removed.

  2. Why doesn’t a normal database bring the same provenance?
    A normal database allows for change in information whereas information can never be changed in blockchain. Blockchain is comprised of a network of systems that own exact copies of the originating blockchain system that a transaction is sent through and, therefore, each system can fully validate each transaction without intervention or changes. All transactions in a blockahin can, therefore, be trusted.

  3. Why is digital provenance such a great benefit to many businesses?
    Provenance makes real time auditing capable transactions providing complete trust that transactions are valid and true. Ic can verify every “ingredient” in the transaction.

1 Like
#2074

Welcome to the academy. :slight_smile:

2 Likes
#2075

Blockchain enables provenance by providing an immutable (unchangeable) history of any important data on a product in a supply chain. Since this data was ensured to be correct by the blockchain ecosystem in the first place, this ensures data cannot be falsified or entered in error.

1 Like
#2076

A normal database cannot bring the same provenance because the original data cannot be confirmed by multiple (independent) computers making errors or false inputs possible.

1 Like
#2077

Digital provenance allows businesses to ensure the quality, or origin of product/s they sell is what their customers believe they are paying for. For example, it could ensure a medication has the correct ingredients or it could ensure an article of clothing comes from sources that do not harm the environment or include components of child labor in it’s production cycle.

1 Like
#2078
  1. Transactions are immutable and transparent to all.
  2. It is centralized and therefore requires trust, the opposite of the trustless concept.
  3. A digital form can be inspected, accessed, audited, transmitted, consumed by applications, etc. in a real-time sense, therefore unlike a material form of provenance, it is both scalable and near-instantaneous between parties.
1 Like
#2079

1By registering or adding only all financial transactions so other people can verify it
2 because you can also substract information from the data base and change it something g you can not do on the blockchain which you can only add information not delete or change anything on the chain or block.
3Because people will be able to verify all transactions on real time and also audit them in real time . The process became less trustable which is the point of the blockchain

1 Like
#2080

1 by registering or adding all financial transaction so others people can verify it
2 because you can also substract information from the data base and change it something g you can not do on the blockchain which you can only add information not delete or change anything on the chain or block.
3Because people will be able to verify all transactions on real time and also audit them in real time . The process became less trustable which is the point of the blockchain

1 Like
#2081
  1. How does blockchain enable digital provenance?

The transactions in the public ledger are verified (by consensus) and immutable. Each participant can check the transactions on his own copy of the ledger (Dont’t trust -> verify)

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

A central authority has the power to change any data without a decentralized verification of the transactions. Therefore, trust in the central authority and all involved persons (admins) is required.

  1. Why is digital provenance such a great benefit to many businesses
    Without trust, companies can quickly verify that all goods comply with the contractual agreements and that the processes have been carried out correctly. This leads to a high quality and transparency of products or services.
2 Likes