Homework on Provenance - Questions

Blockchain and Bitcoin 101
#2122

Great answers. Welcome to the academy Josiah! :slight_smile:

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#2123

Thank you! I am excited to be here and learning! :grinning:

#2124
  1. Entries into the blockchain are verified for integrity and then entered into the “database”. Entries cannot be removed. Therefore there cannot be any “after the fact” alterations in the data. In addition the blockchain is publically readable.
  2. If one takes a standard accounting system, the transactions are separate from the accounting. This allows errors, intentional or not, to enter the database. The reconciliation process could result in conclusions that hide errors. These errors reduce the trust one has in the reconciliation.
  3. Digital providence increases trust in the operation as not only financial but manufacturing or service attributes can be tracked and verified. In theory the verification could be done as frequently as the business desired. Those businesses that depend on manipulating data for a desired outcome would probably not benefit from blockchain and decline to participate. This would downselect businesses and governments to a subset of organizations that were trustworthy.
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#2125

Great job with the homework. Welcome to the academy. :partying_face:

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#2126

Thanks Mauro! I I appreciate the feedback.

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#2127
  1. Blockchain enables digital providence by frequently verifying transactions. Furthermore, once a transaction has been verified you can no longer edit or change it.
  2. A normal database’s entries can be manipulated or deleted, therefore making normal, centralized, databases unreliable.
  3. Businesses benefit from data that is transparent and unable to be tampered with and therefore auditing is not required.
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#2128
  1. How does blockchain enable digital provenance?

By transcribing and publicly filing a complete record of traceable and verifiable events. For example, each process an item underwent from the beginning of it’s journey until reaching a target customer.

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

Because a normal database has a central control who can change information and limits informational access to individuals.

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

Transparency! Accountability! All steps/actions/transfers are recorded, nothing can be hidden. This way you can find what you are looking for, or verify that something is missing.

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#2129

  1. Because you do not need to trust the other databases as it creates a trustless system which is decentralized with no middle authority body/government

  2. Because a normal database is owned by individual parties (companies/people) which can be manipulated for their best interest and can not be cross referenced and verified

  3. It allows the end customer to verify and ensure that the products used for e.g. their food is sourced from the best and it is as it has been advertised which in turn creates trust in a trustless fashion

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#2130

  1. The blockchain enables provenance because it is public and immutable, therefore enabling full transparency at all times. Every verified transaction on the blockchain is set in stone.

  2. Normal databases are centrally controlled and thus can be manipulated by those who control it. Middle men and outsiders like auditors and accountants are needed in order to examine the data and declare it as trust worthy.

  3. Digital provenance allows businesses to maximize transparency and accountability in systems and supply chains, and remove trust as a variable in their operations. They don’t need to trust, they just need to verify.

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#2131

1.By being able to trust in the math of the system when adding a transaction to the blockchain. It can not be manipulated after it is added.

  1. You can not trust a normal database to not be tampered with by a 3rd party which can not be done on the blockchain.

3.By being able to trace provenance you can have transparency within the business rather than opaqueness. This benefits businesses by knowing with 100% certainty that what they have been given authentic and can be sold on to the customer with the same information. Such as with provenance and antiquities.

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#2132

1 How does blockchain enable digital providence?
Blockchain enables provenance by using a public ledger that no information can be taken out.All transaction in the blockchain is final. It’s immutable and the record remains authentic and unedited forever.

2 Why doesn’t a normal database bring the same provenance?
A normal data base is subject to a central authority that could change it’s decision and make some alteration, like a history book that is rewritten or like wikipedia altering words or even accountants changing some numbers on the book.

3 Why is digital provenance such a great benefit to may businesses?
A digital provenance is not only beneficial to businesses but also to costumers as well. This brings so much value to businesses in that costumers are assured that they are getting what they paid for, that is made by the right company, with the right components and specifications.
Companies are protected from piracy. Digital provenance could also empower businesses to track and trace their products which gives them a business confidence that their products are delivered to their costumers in a timely manner specially perishable items. It also helps them to deliver the best quality product that they could aim for.

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#2133 
How does blockchain enable digital provenance?

Does digital provenance have any value if trust in humans is still required to link the digital realm to the physical? Blockchain by its decentralised nature will give a higher chance of accurate information but is not certain by its definition as a blockchain (even bitcoins blockchain) can theoretically be amended given enough computing power.

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

What is a normal database?
A set of data on a centrally controlled repository is under that central parties control and is not necessarily open or immutable although it could co0nvievably be made to be so under certain conditions.

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

Not sure. I can understand how physical provenance would be important to garner trust of customers but digital provenance may only be of benefit to the masses if adopted for transparent voting or expenditure of public reasouces by governments.

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#2134

  • How does blockchain enable digital provenance?
    Immutability keep the ledger accurate whatever happen

  • Why doesn’t a normal database bring the same provenance?
    Some minority people can avoid, hide, remove information

  • Why is digital provenance such a great benefit to many businesses?
    It brings transparency and live auditing

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#2135

Homework on Provenance - Questions

  1. How does blockchain enable digital provenance?

Blockchain allows anyone to track and audit transactions in real time on the public ledger which will make it more officiate in real world business and finance.

  1. Why doesn’t a normal database bring the same provenance?
    A normal database will not bring the same provenance because unlike the blockchain, data can be added and taken away which is not trustworthy, Databases can be deleted or changed which as no trust.

  2. Why is digital provenance such a great benefit to many businesses?
    Digital provenance gives business more trust between parties, they can see what exactly they’re getting like quality or bad products, where they’re made etc… all sorts of information is able to be trusted

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#2136

Homework on Provenance - Questions

  1. How does blockchain enable digital provenance?

Blockchain enables digital provenance by making it decentralised. There is no central authority that has control of the data which is potentially subject to loss of data, human error or corruption.

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

A normal data base is centralised, meaning that it can be manipulated. You are required to trust an authority that the data is correct. A normal database requires ‘TRUST’.

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

Digital provenance is a great benefit as it takes the ‘TRUST’ out of the stored information. It allows for real time auditing and prevents any information being manipulated, lost or entered in error.

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#2137

Great homework! Welcome to the academy. :raised_hands:

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#2138

  1. Blockchain enables decentralized digital providence by providing records of transactions. All of the data going through the chain can also be verified from a source meaning that all of the data thereafter is saved in the platform. This transactional data can not be altered making it very trustworthy and verifiable. This system can help in many scenarios to track products of, let’s say, Company A to Company B and so on throughout the ecosystem.

  2. A normal database/platform does not bring the same providence as a blockchain as not all data transactions are recorded, while if they are recorded, they are susceptible to manipulation.

  3. Digital providence can bring benefit to so many businesses as they now, on the blockchain, because as I previously stated in question “1” companies can track where the products that they are consuming come from. This creates an almost seamless and trustworthy environment as users can see clearly sources, manufacturers, and sellers up to themselves.

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#2139

  1. Blockchain data includes access to previous data on the blockchain so that originating and transactional data flow may be verified.

  2. A normal database is an entirely different animal. In order to rely on provided databases, one must trust the creator/provider. Blockchains remove the element of trust - for anyone with access to the blockchain data may verify any and all claims themselves. Blockchains are ‘self-proving’ in real time.

  3. Digital provenance is good for businesses in many ways. It can be used to readily prove up product content claims, for real-time financial auditing, supply-chain monitoring, etc… Perhaps most importantly, it removes the element of trust.

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#2140
  1. Blockchain enables digital provenance by storing data on a public ledger which the information being input on the ledger can not be altered once verified.
  2. A normal database can not give guaranteed provenance as the data that is stored on the database can be manipulated after it has been entered.
  3. Digital provenance is a great benefit to business as it offers proof to clients and customers that what they say and boast a product is, can be proved.
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#2141

  1. Blockchain enables digital provenance through the fact that it is publicly available and transactions are immutable/irreversible.

  2. A normal database is mutable and can be edited, added to or deleted from by an individual or group of persons.

  3. The absences of digital provenance has led to fraud in many industries. In manufacturing for instance, a manufacturer may be supplied substandard product with little or no means of verification. This in turn impacts the products.

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