Homework on Provenance - Questions

Blockchain and Bitcoin 101
#2705

  1. A blockchain enables digital provenance by having multiple sources verify everything and nothing can be removed or manipulated.

  2. A normal database doesn’t bring the same provenance because it is centralized and items can be removed. They work off trust.

  3. Digital provenance is such a great benefit to businesses because it can stop manipulation, help with transparency and have better efficiency in every aspect.

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#2706

  1. Blockchain enables digital provenance by being a decentralized (trustless) database, meaning there is no central authority and the data can not be erased nor manipulated. “everything is written in stone”.

  2. The normal database cannot bring the same provenance because the stored data can be easily manipulated (erased, overwritten, duplicated,…) by a central authority.

  3. Digital provenance is such a great benefit for many businesses because they don’t need to trust other people (e.g. suppliers) when they deliver good quality goods. Everything from beginning to end is written on the blockchain (traceability) Everyone can verify if that is true or not. Huge benefit is also the possibility for real-time auditing.

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#2707

  1. How does blockchain enable digital provenance?
    Being decentralized, immutable, reliable, and highly secure, blockchain technology can be trusted for data validation and audit purposes.

  2. Why doesn’t a normal database bring the same provenance?
    Any user with administrative access to a database could change or corrupt data to their own benefit.

  3. Why is digital provenance such a great benefit to many businesses?
    Businesses use blockchain-based provenance systems to track and improve quality control and auditing throughout their supply chains, leading to greater supply chain efficiencies. Consumers are confident in the authenticity of goods, and brand reputation improves and suppliers are able to sell their goods at a higher price.

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#2708

1- By keeping the data in many different computers that verify the information (decentralization)
2- Because the information can be modified as the central authority wants.
3- Because they can just Verify on a public ledger the information without having to trust in anyone.

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#2709

1.By being decentralized and being able to verify the code and transactions on a public ledger. Every transaction can be traced and tracked.

2.Because it is centralized and you trusting the partys who run these databases to do what they say they are doing. The information can also only be made available to the public if these partys allow it to be made available wheres as the blockchain is the complete opposite.

  1. Because it is a open ledger every transaction can be traced and tracked, as well as the math behind the code be checked and verified bu the public. Everything is open. Removing the trust from a ‘middle man’. Again do not trust, verify, which will be ground breaking for all businesses by providing efficiency in many ways.
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#2710
  1. By allowing you to view all past transaction to not only verify that the person selling an asset, has that specific asset, and shows the history of where that asset has been.
  2. Because you do not know if that database is accurate, you are trusting that the information provided is accurate.
  3. It is a great benefit to businesses because it automatically allows products to be verified before purchase, but allows real time accounting of the business transactions for later use if needed. Because of this the products that they buy can be validated back to a source that it is what they say it is.
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#2711

  1. It does so with the creation of an infinite number of ledgers or databases which act as ‘digital passports’. These databases can be edited with information such as transactions,time stamps and other details which is immutable thus preserving the information authenticity.

  2. A normal or traditional database is centralized whereas a blockchain is decentralized. A decentralized database ensure that no single authority over the information stored and all users has the data and has no viewing restrictions.

  3. The main benefits are increased transparency and efficiency, enhanced security and simpler traceability.

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#2712
  1. Since the blockchain is an immutable digital ledger, provenance is baked in the system. Blockchain is chain of blocks with recorded transactions and it cannot changed.This particular feature enables tracing and verifying the transactions made in system, hence enabling complete transparency.
  2. Traditional databases are centralised and allows updation and deletion of entries. These features of databases makes it prone to maladjustment and distrust. Databases are dependent on trust and controlled by few which brings lot of opaqueness.
  3. Digital provenance gives businesses lots of benefits. The businesses do not need to follow old cumbersome processes of auditing and human verification. This means businesses save a lot of money, the information available in the system can be verified using automated systems which is more faster, scalable and trustworthy. Digital provenance is far more efficient, transparent and quicker. This also removes the corruption, the inefficiencies of businesses, malpractices existing in current system.
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#2713

  1. Blockchain enables digital provenance because it provides an immutable, mathematically verifiable, distributed record of authenticity.

  2. Traditional database cannot provide provenance because they lack a mechanism to prove their authenticity.

  3. The benefit of digital provenance for businesses is that it removes the doubt of authenticity for its customers.

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#2714

  • How does blockchain enable digital provenance?
    it is a database /digital ledger run on a decentralised (public) system that enables verification of txns. Txns also cannot be removed once entered.

  • Why doesn’t a normal database bring the same provenance?
    because information/data can be altered or erased or lost. as normal database is centralised it is based on trust, and tracing data origin is challenging.

  • Why is digital provenance such a great benefit to many businesses?
    because trust is replaced by verifiable info every step of the way. removes intermediaries and allows data to be audited in real time.

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#2715

  1. How does Blockchain enable digital provenance?
    Blockchain is decentralised. There is no business, company or government behind it. Therefore it is like a digital stone, where you add all the transactions but cannot remove.

  2. Why doesn’t a normal database bring the same provenance?
    A normal database can’t bring the same provenance because it is centralised. All the transactions are going through a company or the government. It is very easy to manipulate like that. Transactions can also be removed from the database which makes the whole system trust based.

  3. Why is digital provenance such a great benefit to many businesses?
    It is a great benefit to many businesses because it gives the opportunity for real time auditing. It is also very attractive to people when you can verify a transaction.

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#2716

  • How does blockchain enable digital provenance?
    By providing a cryptographically proven accounting of actions in time the provenance is always verifiable

  • Why doesn’t a normal database bring the same provenance?
    On a normal database the accounting isn’t fixed in time

  • Why is digital provenance such a great benefit to many businesses?
    It provides a record of how things played out or in other words which action came first.
    It can therefore prove ownership of for instance an IP

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#2717

  1. How does blockchain enable digital provenance?
    The transaction details are written in multiple sources across the network. This makes blockchain public and immutable because it’s everywhere on the network.

  2. Why doesn’t a normal database bring the same provenance?
    The information of a single normal database can be altered, hidden and does not have nature of being distributed by default.

  3. Why is digital provenance such a great benefit to many businesses?
    Businesses do not have to spend huge sums of money and wait for a long time to audit / verify the activities of their suppliers, contractors and themselves. The nature of being trustlessness enables businesses to track / verify transactions without a middle-man.

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#2718
  1. Blockchain enables digital provenance by creating a public ledger in real time.
  2. A normal database can be changed and unfortunately we have to just trust that the transaction was recorded honestly, unless it is audited then we have to trust that the auditor is honest, but even then it’s still not in real time.
  3. Digital provenance is a great benefit to may businesses, because it saves them the money on bookkeeping/auditors + its more accurate
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#2719
  1. Using a network of computers to verify and record each transaction.
  2. Because people have the ability lie and modify data, but that is impossible with Blockchain.
  3. Because it increases efficiency insofar as buyers and sellers can communicate truthfully faster.
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#2720
  1. By constantly adding (transaction) information on the blockchain. Nothing can be removed only added, therefore, making it possible to trace everything.

2.The database belongs to a (third) party which is not open to everybody. We have to trust this party that the database is correct and will not be deleted or altered over time. Often databases do not go back in time all the way to the beginning of transactions.

  1. Businesses do not need to rely on audits from external parties anymore. An audit is done almost instantly and continuously through the blockchain. This greatly reduces risk and costs.
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#2721

Homework on Provenance - Questions

  1. How does blockchain enable digital provenance?
    A decentralized immutable public ledger that anyone can use to verify transactions
  2. Why doesn’t a normal database bring the same provenance?
    A normal database can be changed, blockchain can not be altered, only added to
  3. Why is digital provenance such a great benefit to many businesses?
    It creates a trustless environment between two parties. Currently trust is a massive part of business transactions and as such creates a premium that can be otherwise removed in a trustless environment.
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#2722
  1. Allows all participants to be able to see a digital ledger that shows all transactions.
  2. Because everyone does not have access to it, only certain people can see transaction history
  3. You dont have to trust that someone will give you your money because of the digital contract
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#2723

  1. By digitally recording the date and time of a specific transaction from it’s beginning and throughout its subsequent history and storing that history in an unalterable, irreversible public ledger (blockchain) that is verified by real-time comparison of multiple different copies of the entire ledger ongoingly over time.

  2. A normal database allows data to be entered and removed, as well as making changes to that data when it is in the database. So it cannot guarantee that what was initially entered into the database remains the same over time, or that what was initially put into the database is still there at a later time.

  3. Because it removes the possibility of “double use” of any specific item or “value”; it ensures the dictum, “Don’t trust. Verify”; and it allows auditing the occurrence of claimed events about specific items over time from beginning to end (e.g., supply chains, manufacturing processes, etc.).

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#2724

  1. By keeping track of the origins of a product/item etc.

  2. A normal database can be tampered with, like adding or removing information.

  3. Because they can have more satisfied customers and build better relations due to creating absolute trust between the company, products and the costumer.

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