Homework on Provenance - Questions

Blockchain and Bitcoin 101
#2263

1. How does blockchain enable digital provenance?
Blockchain allows us to trace transactions via public or semi public (partially encrypted ) transactions in real time . The blockchain allows transactional data to be combined with accounting data unlike the present options.
2. Why doesn’t a normal database bring the same provenance?
Normal databases are not immutable and can be altered by someone with the correct permissions and therefore are not immutable , things can be altered or covered up after the fact .

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

Save time and expense with real time auditing so better planning . Blockchain also removes trust , at the moment businesses need to trust suppliers but blockchain removed this trust and leaves less opportunity for fraudulent activity. Materials can also be traced to the absolute source which would be important for things like quality control issues.

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#2264
  1. How does blockchain enable digital provenance?

digital provenance = digital tracing

As blockchain is a public ledger it provides full transparency needed for tracking. As you are also not able to remove TX from the blockchain, we can operate without the need to trust.

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

A normal database is centrally controlled. This means there is a degree of opaqueness which requires at least one party to TRUST rthe authenticity of the TX made by the party controlling the private ledger.

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

Real time auditing with traceability that is trustless generates huge efficiencies for businesses. It’s likely that the efficiencies will reduce costs and lead to better data insights to inform better strategy.

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#2265

  1. How does blockchain enable digital provenance?
    Blockchain enables digital provenance by ensuring that data can only be added to the ledger. Personally I enjoyed Ivans parable with runic writing. This is a public ledger, meaning that all people can trace the origins of the product all the way to it’s source.

  2. Why doesn’t a normal database bring the same provenance?
    A centralised database is prone to manipulation by a controlling party. This is because it´s possible and that human beings without a doubt always are more or less greedy.

  3. Why is digital provenance such a great benefit to many businesses?
    Digital provenance is a fantastic benefit to many businesses because they do not have to rely on third parties – all the data is available openly on the blockchain. Furthermore it brings a trust less system, fully transparency, improved security, immutability and so on.

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#2266

Homework on Provenance - Questions

1.How does blockchain enable digital provenance?

Answer: It combines the transaction and accounting layers of information (traceable) in a digital rune stone (immutable)

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

Answer: Don’t trust…Verify Normal databases just have the trans. not the accounting and are manipulateable, not immutable.

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

Answer: Real Time audits by non-local means transparency.

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#2267

  1. Blockchain as you said is like a rune stone. No authority or government or any 3rd party can mess with anything or silence you as long as you posted it.

  2. As i said an authority or a government could mess with anything you do. The element of trust is present and that can simply be avoided if you were to use blockchain, furthermore any 3rd party with the right skillset can do what they like if you aren’t careful.

  3. Because you can eliminate the element of trust. Anything you do can be traced, the quality of the product or what is used to create the product all the way back to the start, because anything you post on blockchain stays on blockchain

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#2268
  1. By making it decentralised on an open source platform. Writing on the blockchain makes it permanent, nothing can be deleted, only added therefore making it a system without an agent or middle man, a trust-less protocol that can verify its transactions and data automatically. Having the ability to being public and to easily track the origin of things, thus making real live auditing possible.
  2. Because of the immutability in blockchain technology there’s no corruption possible, all the data will stay there and cannot be erased or changed, only added. Other databases can lose its data or be subject to conflict.
  3. By bringing the information of accounting and transaction together in one place, bringing oversight and transparency to the financial world, reducing the corruption in businesses, making it easier for customers to track the ingredients and state of their products.
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#2269
  1. Each node contains its own copy of the ledger, and transactions are VERIFIED rather than trusted.
  2. Normal databases are centralized and mutable.
  3. Digital provenance removes the trust aspect involved with interacting with other entities.
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#2270

Homework on Provenance - Questions

How does blockchain enable digital provenance?
Blockchain enables digital provenance by being a transparent distributed (decentralized) ledger system.

Why doesn’t a normal database bring the same provenance?
A normal database can not bring about the same provenance, because it is a centralized system which might be compromised at will buy one party without the other party knowing it.

Why is digital provenance such a great benefit to many businesses?
It is a great benefit to many businesses because it enables them to credibly verify the source of goods in their supply networks.

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#2271
  1. It is network verified, removing need for trust.
  2. Data can be removed on a normal database
  3. Can streamline accounting and transaction processes with real time auditing.
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#2272

Hi @Alex_IFS, @SUMMER_SPY, @_alarming, @Andrius_Bugakovas and @Wade! Quite a lot of newcomers I see :stuck_out_tongue: Welcome to the forum! :smiley:

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#2273

Thank you. I am super excited to start learning. I really appreciate the positive vibes. Cheers!!!

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#2274

How does blockchain enable digital provenance?

  • It enables digital provenance as it is distributed and decentralized and can be verified by all the members.

Why doesn’t a normal database bring the same provenance?
-A normal database is a centralized system where only insiders have access. One must trust and can’t verify the content.

Why is digital provenance such a great benefit to many businesses?
-It can bring great benefits as it enables them to be transparent, credible, and open to their customers. And differentiate them from competitors adding competitive advantage.

A question that I would like to rise is! What if the data inserted is wrong and distributed from the beginning when it is inserted in the system and there is no easy way to verify it for various reasons?

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#2275

Hi @Salvatore! Welcome to the forum! :smiley:

To answer your question. In case of Bitcoin, consensus rules determine what is right and what is wrong. If a transaction or payment is not valid it will be rejected.
In case of other elements like supply chains these are issues that are being addressed by other projects, one of them being OriginTrail. How exactly they can guarantee that I don’t know, but I encourage you to check them out and study them for yourself :slight_smile:

#2276

Thanks for your prompt reply.
Yes my question was more on the supply chain elements.

I will check them out.

Thanks again.

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#2277
  1. BC enables digital provenance by using a trustless, public ledger that can track assets such as finances, clothing, ingredients, etc in real-time.
  2. A normal database does not function with providence because of the administration, bureaucratic and trust system inherent in it.
  3. Digital provenance is a great benefit to many business because it provides real-time, trustless and verifiable data that is tracked in a fluid fashion.
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#2278

  • How does blockchain enable digital provenance?
    It adds a record to the blockchain which is inmutable.

  • Why doesn’t a normal database bring the same provenance?
    A record in the database can be deleted or modify, not in the blockchain

  • Why is digital provenance such a great benefit to many businesses?
    It gives trust and can be audited by anyone because the blockchain is public

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#2279

  1. It enables it by not allowing changes, with that, the ability to track or audit - real time if desired, removing any concerns for Trust.

  2. Normal database allows changes, doesn’t offer same auditing capabilities, no way to confirm information such as blockchain

  3. Allows for real time auditing which would provide up to the minute accounting / tracking which optimizes accuracy and efficiency of the company minimizing delays and or reporting

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#2280

  1. Provenance provides realtime digital auditing and tracing of financial or logistical transactions.

  2. It is subject to human error that is trusted by third party auditors.

  3. It’s immutable and combines a trust-less platform forf all financial transactions, logistics or quality control that can be run on the blockchain.

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#2281
  1. Transactions can be added to the blockchain and cannot be removed and this can can be tracked in real time
  2. because a normal database is centralized, you can add and remove and trust is involved
  3. Transactions can be tracked in real time, it is trustless, you don’t have to trust the entity because it is dencentralized.
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#2282

glad to be here :alien:

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