Homework on Provenance - Questions

Blockchain and Bitcoin 101
#2162
  1. How does blockchain enable digital provenance?

By making the whole transaction , completely decentralised where there wouldnt be any central authority or company or any central organisation behind .

  1. Why doesn’t a normal database bring the same provenance?
    Due to its centralised behaviour , there are chances of manupulations and frauds .

3 Why is digital provenance such a great benefit to many businesses?
Digital provenance is of great usecases when implimented in our businesses . Digital provenance / blockchain will put together the accounting layer with the transactional layer in the businesss and solve the huge manual ledger tracking proplem . You can track each and every transaction , every minute or second …

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#2163
  1. How does blockchain enable digital provenance?
    By recording each and every transaction on the blockchain ledger, all transactions are safe, recorded, and immutable and available to everyone. therefore it enables traceability and trust.
  2. Why doesn’t a normal database bring the same provenance?
    A centralized database removes the layer of transparency between each transaction. therefore offer a partial and non-complete view of the log resulting in unclear provenance knowledge.
  3. Why is digital provenance such a great benefit to many businesses?
    Supply chain, Sourcing, Trust, Quality is achieved
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#2164

Acurrate, realtime auditing and authentication. Allows for a Trust-less environment

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#2165

  1. The steps in the process are tracked redundantly through the blockchain consensus algorithm.

  2. A normal database is independent and does not have the same strength from the redundancy of the interconnected blockchain to ensure the veracity of its contents.

  3. The ability to prove the origin and treatment of the ingredients and workers/production facilities that goes into a finished product adds tremendous value in today’s world.

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#2166

This link https://www.ifeanyiuche.com/benefits-of-blockchain-based-on-the-concept-of-provenance/ is still not working.

#2167

1-Blockchain enables digital provenance by inserting it in the trust less ledger which is decentralized and immutable.When it comes to a Bitcoin transaction I understand it because since its inception (mining)everything is clear but when it comes to tracking ingredients how can we be sure that the data first inserted was true?
2 a normal data base is not immutable therefore not trust less it will not be verified by millions of computers worldwide
3It will protect companies from cheaters copying their product and ripping benefits out of a brand that costed years of effort to make.It will also allow consumers to get exactly what they ve been told they are getting.But I have to add that ,living in China it will be terrible for most business since there is fraud almost everywhere

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#2168

How does the Block chain enable digital provenance, well it enables it by tracking each transaction in real time and real time auditing.
why doesn’t a normal database bring in the same provenance, well because it can be voided or erased and data manipulation.
why is digital provenance such a great benefit to many businesses and the reason is confidence in accurate data as well as knowing what is coming and going in business and acurate identification on the blockchain

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#2169

How does blockchain enable digital provenance?

Digital provenance gets enable because blockchain allows to track it. Every transaction is written on the blockchain and can’t be removed. Blockchain is a open ledger there every transaction can be traced back.

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

A regular database transaction can be removed or erased. If the database crashes data can be lost. This make it also difficult to trace back a transaction, it doesn’t have the same simplicity as with blockchain.

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

Digital provenance bring the opportunity of real-time auditing and precise trace ability, among other benefits.

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#2170

  1. Blockchain enbales digital provenance by allowing the absence of trust.

  2. Because it has a different system then the others, since it’s only allowed to add things instead of removing them.

  3. As said earlier, is more efficient since trust is not present and the only thing they need to do is verify if what the denominator offers, lets say the material, the price and if it is newly made, it will only be done by verifying it, as simple as that.

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#2171

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?

  4. Blockchain tracks and audits each financial transaction in real time. It can audit the entire supply chain in food, manufacturing, farming, fashion… everything, so there is no need to trust individuals.

  5. A normal database doesn’t bring the same provenance because it doesnt match invoices and payments in real time, and because it is controlled by an individual or individuals and there is no concensus like there is on the blockchain.

  6. Digital provenance is a great benefit to many businesses unless they are an accountancy firm! As mentioned, because of pairing invoices and payments in real time there is automatic accounting and auditing. In addition, there is no need for trust, all transactions are verified, and the whole process is transparent.

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#2172

  1. Blockchain is a database where we can only add transactions but never remove any. It’s a public ledger where all transactions are tracked in real time, without the need of having to trust on a 3rd party, anyone can simply verify.

  2. A normal database is managed by a 3rd party, its centralised and it doesn’t stop transactions to be removed.

  3. We can now remove a 3rd party, the “trust” factor of the equation, due to the ability of track everything in real time.

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#2173

How does blockchain enable digital provenance?
Bloackchain allows for anyone to add to the database allowing for a surplus of information. No one is able to remove information once added, adding further transparency. And anyone is able to verify and check anything as block chain provides a public ledger, removing the element of trust required on a normal database.

Why doesn’t a normal database bring the same provenance?
A normal database is centralized and will thus have an owner. This will add the element of opaqueness and trust back between the person and the owner of the database, as the person will have to assume that the owner hasn’t removed any information from the database, when the reality is records are often edited and deleted.

Why is digital provenance a great benefit to many businesses?
Don’t trust… verify. Digital provenance removes the need for trust between its suppliers or accounts or whatever can be tracked, and instead the businesses can themselves verify information, allowing businesses to prove when there is an issue or prove to others when there is not an issue.
Furthermore, on the flipside it brings equally as much transparency to customers as customers are themselves able to validate business claims.

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#2174
  1. By being decentralized, everybody can have access to the same data, so it cannot be controlled by private entities.
  2. A normal database is centrally owned, only trusted 3rd parties can check its validity, it has no public access for everyone to verify the validity of the information released.
    3.The greatest benefit for businesses is transparency that creates consumer trust in their products or services. Also cuts cost of finance by skipping auditors, etc.
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#2175

How does blockchain enable digital provenance?
All transactions are verified, and immutable, hence the provenance can be guaranteed.

Why doesn’t a normal database bring the same provenance?
Transactions are not immutable, nor verified.

Why is digital provenance such a great benefit to many businesses?
You no longer have to trust third party information,
since with digital provenance it has been verified,
and cannot be modified.

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#2176
  1. Because the blockchain is keeping track of every transaction and can’t change anything,can only add new ones.
  2. Because the normal database is centralized and can be manipulated.
    3.No trust issues.
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#2177

  1. How does blockchain enable digital provenance?

    • Because every transaction is stored in the immutable database and publicly visible. Every transaction is therefore tracable.

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

    • Because in a normal database you can delete and alter the data, but in a blockchain you cannot. There are also multiple copies of the blockchain stored in everyones computer so crashing event wouldn’t be possible.

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

    • By using the blockchain, you remove the trust issue between the transactions and make the data visible by anyone. No need to use banks between transactions and they are faster and more reliable. When the technology advances, we might have real time auditing on companies and no need to use accounting firms any longer, therefore saving money, time and the probability of making mistakes.
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#2178

Hi, this link has been posted by another user in this post :slight_smile: we can’t help with the popular links section since its auto generated. All we can do is remove the post that originates from.

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#2179

1.-As blockchain is decentralizedand as all informations are like engraved in stone and cannot be changed.

2.-A normal database has got at least an owner (administrator), at least even with lots of process of security, the administrator could change informations and with less security as we often notice, changes can happen, history and tracks may disappear…

3.-Because of the transparency and the easy common access for every partner

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#2180
  1. How does blockchain enable digital provenance?
    Blockchian allows for full traceability of all ‘transactions’.
  2. Why doesn’t a normal database bring the same provenance?
    Transactions can be removed or changed.
  3. Why is digital provenance such a great benefit to many businesses?
    The system is completely trustless. Simplifies auditing process masssively.
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#2181
  1. Blockchain is a type of distributed ledger where the same documentation is shared across all network participants and assets recorded on blockchain can be tracked and traced from origin to every step of its journey. This in effect is an audit trail which does not rely on trust but verification.
  2. A normal database can have its data changed or removed and also may lose data due to server issues - the audit trail is therefore not so easy to manage.
  3. Digital provenance allows companies to very quickly trace problems in their supply chain and rectify them before they become major issues. As well as improving efficiency and reducing costs, digital provenance can also help to authenticate their asset and prevent fraud.
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