Homework on Provenance - Questions

Blockchain and Bitcoin 101
#2906

How does blockchain enable digital provenance?

Blockchain enables digital provenance through a trust less public ledger that is immutable in that information (account and transactional information) are recorded in this public distributed ledger.that is confirmed by consensus with all the nodes.

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

Normal database are centralized and controlled by one party, therefore the accuracy of the information is only confirmed by this one party which you have to trust. So you have to rely on third parties to verify the integral nature and the accuracy of this data.

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

With digital provenance, you no longer are beholden to the central authorities who are often the controller of this central database like the central bank etc where its open to abuse of power.

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#2907
  1. Immutable transactions, real time transaction auditing and traceability.
  2. Transactions are immutable in normal database. Normal database usually is not usually public or accessible by anyone.
  3. Supply chain improvement with real time tracking and auditing of supply origins with their associated contents
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#2908

  1. How does blockchain enable digital provenance?
    The blockchain is a ledger which contains a string of info/data that can’t be changed or tampered with. Therefore, it can be used to establish digital provenance of currencies (e.g. Bitcoin), products, and more

  2. Why doesn’t a normal database bring the same provenance?
    Data from a traditional database can be erased or tampered with. Data in the blockchain cannot be removed or change. Once the data is added it will always remain there and can always be verified

  3. Why is digital provenance such a great benefit to many businesses
    Digital provenance is beneficial to a number of different industries because it allows a business (or a consumer) to track where a product has been, how it was made or even what the product contains. Digital provenance will also be a gamechanger in the accounting industry because it allows for precise, real-time auditing without the need for a traditional accountant.

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#2909

1.It enables provenance by being decentralized. Everyone has a copy of the blockchain, can see and find if any alteration is done to it.
2.A normal database is centralized system, where only one system or party is able to see and alter the data. So they can manipulate the data as they wish, so tracking their data is impossible.
3.Digital provenance provides customers and small businesses to verify and check the products quality and origin.

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#2910
  1. Synonyms for provenance include: birthplace, source and origin. Blockchain, with it’s built-in method of verifying facts, provides a manner of proving the origin or source of a matter recorded . Therefore, blockchain allows for a substitute of trusted relationships inasmuch as it provides apparent verification for all interested parties to rely on the actual existence of the matter recorded on the blockchain.
  2. Because most blockchains are decentralized, it becomes very difficult, if not impossible—in most cases— for future changes to the blockchain record that would alter the truth of the data recorded. This is in contrast to a centralized record keeping system, wherein one individual can easily alter or delete the data in the system.
  3. Effective commerce relies on some method of understanding that other parties are going to do that which they promised. In a typical contract situation, the buyer promises to pay and the seller promises to sell the thing bargained for. In years past, this has often required ways to either trust the other party, or to undertake things (such as obtaining a title search or credit report) that indicates that the other party can perform as promised. Digital provenance allows each party to a transaction to quickly and economically understand that the other party will perform as promised, allowing a reduction of friction and cost of the transaction and simultaneously recording it for the public to see. The usual result is enhanced certainty and less chance for fraud and deception in business, and is particularly useful for people who do not have easy access to credit or banking systems.
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#2911
  1. How does blockchain enable digital provenance?

This is possible because in blockchain every transaction is recorded. This information is unalterable, so that it can´t be modified by an individual.

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

In a normal database you can take a look at the transactions that are taking part, but you don´t have any information about the global transactions that have been made on it. Not only this, but the transparency is much lower than in blockchain. Furthermore, in a database transactions can be removed or erased.

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

It is a great benefit for many reasons, but the most importants are: 1) the possibility of following every transaction, so that you don´t have to trust what others tell you, you can verify it, and 2) the savings since it is not neccesary to hire an audit.

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#2912

  1. By being an immutable, decentralized, trustless ledger.

  2. Because it is centralized and changeable, it requires a trusted party to verify the transactions.

  3. It increases efficiency by eliminating a “middleman,” reducing transaction times, reducing costs, and reducing the risk of theft.

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#2913
  1. How does blockchain enable digital provenance?
    Blockchain is a decentralized database that only allows data to be added but not removed. Therefore, any relevant transaction or series of transactions can be tracked back in time and space. There is confidence in the tracking data because of the decentralization of the database. The data is saved on multiple nodes so there is no single point of failure.
  2. Why doesn’t a normal database bring the same provenance?
    Normal databases that are not decentralized can be edited or corrupted resulting in loss of data. Therefore, the data is not as trustworthy.
  3. Why is digital provenance such a great benefit to many businesses?
    It makes auditing much more efficient and makes real-time auditing possible.
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#2914
  1. Blockchain enables to trace transactions and enables digital provenance.
  2. Because it could be hacked
  3. Because it cuts down trust expenses
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#2915
  1. By creating an immutable record of existence. Verified by math.
  2. A centralized database is prone to manipulation by a controlling party. Not instantly verifiable
  3. It creates an indisputable record of proof that is not based on trust. Verifiable almost instantly.
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#2916

[quote=“ivan, post:1, topic:8423, full:true”]

Homework on Provenance - Questions

  1. How does blockchain enable digital provenance?
    Blockchain enables digital provenance by tracking and recording all transactions on the blockchain. These can not be erased.
  2. Why doesn’t a normal database bring the same provenance?
    Because these can be manipulated (Erased or things added). As Ivan says “Do not trust . . Verify.
  3. Why is digital provenance such a great benefit to many businesses?
    Because it eliminates the need to get audited by an outside company. (Real time auditing). All previous and future transactions can be verified and tracked from by ANYONE.
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#2917

Homework on Provenance - Questions

  1. How does blockchain enable digital provenance?

The blockchain enables digital provenance, by offering a transparent and trustless way of tracking a product from product sourcing through to consumption/use.

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

A normal database is centralised - less transparent data and the data can be altered at whim, without consensus. More trust is required to believe the data.

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

It allows businesses to verify the suppliers and materials being supplied and the journey they have taken to get to where they are now. You can see loss of product (pilferage) and know when it happened- greater security in your supply chain.

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#2918

  • How does blockchain enable digital provenance?
    Data written on the blockchain is set in stone and cannot be removed and therefore proves that a transaction occurred at a point in time.

  • Why doesn’t a normal database bring the same provenance?
    A normal database has write and update access to it by those with permissions and therefore has to be trusted in order to work. It can always tell a lie.

  • Why is digital provenance such a great benefit to many businesses?
    It provides realtime audit of transactions and removes disrupts lots of businesses we currently rely on to provide us the verifiable and audited transactions. No middleman is needed to help establish the truth of a transaction.

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#2919
  1. Blockchain allows you to track tranactions in real-time
  2. A normal database does not allow this because the layers between the ledger and the transactions are separate and might not be all o the same database. There could be inconsistencies
  3. It allows you to track things like ingredients, supply chain, financials all in real time and accurately.
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#2920

  1. Information stored in the Block chain cannot be altered. Transactions can be transparent. Traceability. This helps to support both Customers and Suppliers. Simply put its a Immutable ledger.

  2. In a normal database facts can be altered. And most importantly it cannot be trusted. Normal database cannot be verified by others.

  3. It gives everyone a peace of mind and information on demand which leads to TRUSTLESS transactions. Digital Provenance is trust worthy in every aspect.

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#2921

  1. Blockchain provides provenance due to the data being immutable and publically available as an open ledger

  2. Normal databases are owned by a central organisation, who can remove, edit and manipulate the stored data

  3. Digital provenance is a great benefit to businesses, as it removes the need for trust between suppliers and customers, replacing it with the ability for anyone to verify the data on the blockchain

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#2922
  1. its my understanding that blockchain enables digital provenance because it can be verified by everyone on the blockchain ( ledger ) and cannot be changed by third parties.
  2. this is because a third party (centalised company/authority that can remove or add data at any time meaning that trust is needed rather than trustless.
    3.they can know excatly what they are getting due to the trustless nature of the blockchain.
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#2923
  1. How does blockchain enable digital provenance?
    By collecting and combining different layers of data and verifying the required information as well as allowing every one to check the validity and tracking the information.
#2924

1.By collecting and combining different layers of data and verifying the requiered information as well as allowing every one to check the validity and make anyone to be able tracking the information.

2.Being able to manipulated the Normal digital base makes it impossible to have the accounting layers and transaction layers combined and have them in the same place at once therefor, its not
safe and reliable at the matter of being able to track and audibility

3.Beause it gives the bussinesess the power to get to the source of
product and ables them to verify the quality and purity of it.

:smiley:

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#2925

  1. How does blockchain enable digital provenance?
    Transactions, without exceptions, are recorded on the blockchain, thus the complete history of every coin or token on a blockchain is always available.

  2. Why doesn’t a normal database bring the same provenance?
    A normal database enables complete manipulation of the data that is being hosted on it. Data in a database can always have records removed, it’s structure changed and have anything modified by a central authority.

  3. Why is digital provenance such a great benefit to many businesses?
    Having a complete history of a product (how’s it being made, how’s it being transported, how’s it being transacted, etc) can give a lot of trust to the consumer, that he will get exactly “what is written on the label”.

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