Homework on Provenance - Questions

Blockchain and Bitcoin 101
#2785

  1. Data on the blockchain is traceable and cannot be removed. Its a public ledger - each has a copy of the ledger therefore open to everyone to see and verify.

  2. Blockchain can be used to trace financial transaction in real time (such in BTC) . By adding the accounting to the blockchain transaction layer, real time auditing is possible. This will make lower level accounting work redundant and/or make reconciliation easier in particular I would say!

  3. Its a trustless process where maths is used to verify the transactions. Supply chains could benefit from these technology eg. ingredients, clothes tracking , each segment of the processes is tract and verified using blockchain.

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#2786

  1. Blockchain enables digital provenance through creation and utilization of a public/auditable ledger (ie. bitcoin), where transactions can be audited in real time. by including the accounting info with the transaction.

  2. Normal databases rely on trust of origin versus verification.

  3. Digital provenance allows for a higher degree of accuracy for supply chain management by tracking and tracing origins, relying on a real-time verification process versus trust, and in turn, increasing efficiency. Digital provenance benefits businesses by allowing them to meet their customers’ needs more efficiently which will increase profit margins

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#2787
  1. Blockchain technology enables digital provenance in two ways. First the information on any block cannot be changed therefore all transactions can be verified. Second the information on the blockchain is publicly open, meaning that anyone can verify the information.
    2.Normal databases do not bring the same provenance as blockchain technology because the information on them can be changed, and they are not being housed and updated on a network of computers.
    3.Digital provenance is a benefit to business because it creates information that is openly available to verify and does not require to trust in the information provider.
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#2788
  1. How does blockchain enable digital provenance?

Blockchain enables digital provenance by keeping a “public ledger” of all transactions that can be fully audited in real-time. It allows you to verify everything. Information can only be added and not taken away.

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

A normal database doesn’t bring the same provenance because there may be human error. That error can throw off the real results. You’re trusting that it’s accurate but you can’t verify it as fast as you could with blockchain. An audit could take days or even weeks to complete but that doesn’t go to say it’s 100 % accurate.

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

Digital provenance is such a great benefit to many businesses because, It will allow you to combine accounting with transactions. From start to finish your product can be tracked from the manufacturing process to the end product. You’re able to retract and pinpoint where contamination or poor quality may have been and a quick recall can be made. Allowing more efficiency to processes and overall saving the company money. Gives your brand a better name because of the advanced technology you utilize, the product will sell itself.

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#2789

Information is added but cannot be removed. By being public it is transparent and trust is not needed.

Information can be edited. It is likely not accessible publicly and must rely on trust.

Provenance would keep all parties involved liable for their contributions. This could be applied to all kinds of products and services. Ultimately it would create higher quality products and services.

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#2790

[quote=“ivan, post:1, topic:8423, full:true”]
Homework on Provenance - Questions

  1. How does blockchain enable digital provenance?
    -blockchain allows the “auditing layer” to exist together with the transaction. This means that real-time auditing can be achieved. This allows tracking, for example, of all ingredients included in food and the source of those ingredients. It can also allow for positive proof that a piece of clothing, for example, has not come from a factory using child labor.

  2. Why doesn’t a normal database bring the same provenance?
    -A normal database can be altered. Records could be change or deleted, or false records could be added. With blockchain, since there is a copy of the blockchain (ledger) on each of many nodes (computers) in the network, it is nearly impossible to alter or falsify information since a consensus of nodes must verify each transaction (that is, each addition to the blockchain). Once a record is added to the ledger, it cannot be altered.

  3. Why is digital provenance such a great benefit to many businesses?
    -In the supply chain industry, for example, block chain supports a record of each step in the process and allows for tracking of each component within the supply chain. For financial transactions, digital provenance allows for real-time account since the accounting layer exists together with the transaction.

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#2791
  1. The immutability allows all previous records and transactions to be available.
  2. Auditing and Accounting is not available simultaneously
  3. Makes auditing easier.
3 Likes
#2792
  1. By maintaining a real time unalterable public ledger of digital facts that are traceable
  2. A normal database can be altered or changed after its recording.
  3. A digital provenance provides trust less proof that an action has occurred.
3 Likes
#2793
  1. How does blockchain enable digital provenance?
    When there have been any currency transaction all ledger and under the instruction of verifying that information, Therefore any transaction must be very explicit. and because block chain auto- audit itself it a great guarantor in making a reliable and accurate transaction 24/7.

2)Why doesn’t a normal database bring the same provenance?
Centralized data bases are mostly force by a third party who can alternate the transaction, which make them not as legit. This centralized data bases are mostly in need of accountant and audit to calculate the numbers to see if the information provided it true, or even if they have the funds to carry on.

3)Why is digital provenance such a great benefit to many businesses?
Provenance gives to a business a great accountability of its true transaction without altering any or deleting or even better not collected all records of transaction which can be very tiring process. On the other hand provenance can be a trust worthy of all transaction occurred a leaves a very little space for human error or in-approval transactions.

2 Likes
#2794

  1. How does blockchain enable digital provenance?
    Since the blockchain an immutable database (digital stone) that could be utilized to store transactions that no longer requires trust between the parties but rather all can trust the math in the blockchain. For example, the place of origin of products can be accepted without dispute due to the undisputed feature of blockchain technology.

  2. Why doesn’t a normal database bring the same provenance?
    Because a normal database is centralized and subject to tampering (after the fact).

  3. Why is digital provenance such a great benefit to many businesses?
    Efficiency & Costs Savings : No longer need to audit transaction history so auditing will no longer be needed.
    Trust : External parties can trust the content in the blockchain since the blocks (records) can not be editied.

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#2795

1- By serving as a decentralized public ledger composed of records that cannot be removed from the chain, where anyone can access transactions, add information to the chain, and audit the veracity of certain data or transaction.

2- Because of the centralized authority that rules over an ordinary database, which has the ability to manipulate the contained data, which, in turn, adds a trust factor to equation.

3- With digital provenance, every element and activity of a chain can be verified and proven as valid. With such, it is possible to track steps of a process and movement of assets of any kind, assuring, through records added to the public ledger, that said element has left said source and arrived at said destiny, and that said action was performed with it.

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#2796

Blockchain enables digital provenance or digital place of origin by having a public “digital” ledger dating from the start of the protocol.

  1. Normal databases require trust and can have the potential of being manipulated where as the blockchain can only have additional information/.transactions added; no previous information can be deleted. There are exceptions to every rule and this is where bitcoin provides the most trust less protocol vs the ethereum blockchain which has in fact been altered.

  2. Stream lining various operations through a verifiable non compromised history of events is a game changer.

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#2797
  1. How does blockchain enable digital provenance?

Transactions require consensus from multiple nodes in order to be added to the blockchain, and the record of the transactions cannot be changed once added. This consensus and immutability allow us to establish the origin and ensure the integrity of the transactions.

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

Normal databases may be altered at will, and, therefore, do not necessarily ensure the integrity of the information stored in them.

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

Consumers have become increasingly aware of the environmental and ethical implications of their purchasing decisions. Digital provenance lends credulity to a business’ claims of ethical and sustainable practices and helps instill consumer confidence in its products that, in turn, promotes brand loyalty and future sales.

Tracing the origin of product inputs can also be of significant value to society at large. In the event of a foodborne outbreak, a business would be able to pinpoint the exact source and location of the contaminated products along the supply chain. Product losses and consumer casualties could be greatly minimized.

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#2798

  1. Blockchain enables digital provenance by providing a public ledger of all transactions, providing the ability to publicly audit financial transactions.

  2. Normal databases are not publicly distributed and immutable.

  3. Eliminating the need to trust by verifying. This is especially helpful in industries such as food manufacturing and distribution, allowing companies to track ingredients.

3 Likes
#2799

  1. The Blockchain is a decentralized ledger and as such extremely hard/impossible to hack and hence providing high provenance.

  2. All transactions captured on the blockchain can never be removed (immutability).

  3. The Blockchain is an open ledger and allows the tracking of transactions. As such it provides many benefits like real-time auditing.

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#2800
  1. Blockchain is a database that the information can not be removed once it’s added. Anyone has access to every transaction.
  2. A normal database is based on trust and difficult to verify. The data can be removed and opaque.
  3. Digital provenance removes trust and you can verify which brings a more direct business relationship without or less middlemen. It can also save lots of time due to the real time auditing of data.
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#2801

  1. Because Blockchain engraves the each and every transaction piece of data on the network “stone”, any ne can track back the product or transaction travel in reverse mode and verify for self what where when how who and what ever relevant info about the origin of this same product or transaction.

  2. Because a normal database is local, intimate, abstract, “lonely”, eventually human made the opacity level can be chosen at will. What blockchain dispels like sun rays after rainy clouds.

  3. Benefits of digital provenance: Clarity, instant, Self-responsibility improving by verifying if relevant the concerned provenance, efficiency at the top level, real time auditing of two in one accounted transaction (or would it better said transited accounting?) both are married for the better.

1 Like
#2802

  1. Digital Provenance is enabled by recording the first transaction and all transactions after on a distributed ledger. It is a write only ledger so information can only be added to the ledger and not removed.

  2. Normal databases can have information added, deleted and modified. With blockchain you can only add information to the database.

  3. This removes having to trust other parties and makes sure that it is trustless and verified.

1 Like
#2803

By replying, am i wrong to anwser the homework ???

  1. How does blockchain enable digital provenance?
    With the ledger, you have all the sequence of transactions so following the suite backward let you who is involved at each transaction to confirm it with an other ledger by comparing the informations.
  2. Why doesn’t a normal database bring the same provenance? On my knowledge, the DB is centralized so only one copy and the DB keep only the present or last state of a data. Without a copy of the previous state, even one step back provenance is not possible.
  3. Why is digital provenance such a great benefit to many businesses? Digital provenance is language neutral and no physical support is needed to revise the provenance. You only access it online wherever you are. For many businesses, the foreign supplier is unacessable so Internet resolves the distance.
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#2804

1)Blockchain records contain all accts & transactions. Nothing can be taken out.

2)Normal databases doesn’t contain Accts and transactions all in one place like blockchain

3)Digital provenance makes auditing a thing of the past. It’s audited in real time.

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