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How does blockchain enable digital provenance?
Blockchain is a decentralised and immutable database, no information can be altered or removed, added. This means that there is an auditable trail of all transactions, which enables the transaction to be verified, removing the need for trust. -
Why doesn’t a normal database bring the same provenance?
A normal database is centrally controlled administered by some organisation, that give trusted administrators the ability to add, change or delete information on it. The process is opaque and open to abuse and fraud by an untrustworthy administrator. There is no robust audit trail. -
Why is digital provenance such a great benefit to many businesses?
Digital provenance takes away the need for trust, as all transactions can be verified. This enables businesses to provide a proven trail of their product. This give the customer the confidence that the product is what it says it is.
Homework on Provenance - Questions
- How does blockchain enable digital provenance?
Blockchain enables digital provenance by keeping track of all transactions in real time.
Why doesn’t a normal database bring the same provenance?
In a normal dbase, transactions can be altered but with provenance, transactions cannot be altered in any way.
- Why is digital provenance such a great benefit to many businesses?
It is a great blessing to businesses because it does the job of an Auditor. It helps in putting the accounting of all transactions in one layer and can be traced in real-time.
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How does blockchain enable digital provenance?
A. The Bitcoin blockchain is a censorship resistance public recored that is based on math and code and not human referees. -
Why doesn’t a normal database bring the same provenance?
A. Normal databases have human referees who can be corrupted or compelled to act on someone else’s interest. These databases are often times not open to the public so we have no way to verify its authenticity. Inefficiencies and middlemen increase the cost to the user and narrows the distribution of value to a small number of humans. -
Why is digital provenance such a great benefit to many businesses?
A. It eliminates the need to trust other humans. You have the same power as a nation state to practice your individual sovereignty. Scales of efficiency and security decreases a business overhead as well as creating an opportunity to decrease transaction fees.
- How does blockchain enable digital provenance?
It is a public ledger where you can only ADD data, but not REMOVE it. That is because it is a distributed ledger where most of the different validators have to agree on the next blocks that are added to the blockchain, and once a block is validated it becomes immutable. That makes it possible to track, for example, the different data that has been added throughout the food chain.
- Why doesn’t a normal database bring the same provenance?
Because in a normal database there is a central party that can change it. There is no trustlessness. You need to trust the provider of the information. That is not necessary any more when using blockchain for tracking supply chains for example.
- Why is digital provenance such a great benefit to many businesses?
Because anybody can see and verify anything they are buying. They can verify that, for example, a material is coming from where the producer is stating. That will make transactions a lot more efficient.
- Blockchain enables provenance by containing an immutable record of every transaction and a neat way or ordering them.
- Normal databases present the possibility of deleting and/or altering data often without a trace of the prior data or a prior state.
- Digital provenance which is innate to the databas, can create an automated way as to comply with real-time/real-world audit and compliance which saves countless hours of administrator labor and duces risk of human and or moral error.
My Answers (hope it’s correct)
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Blockchain enables digital provenance by keeping verifiable records and transactions on a ‘public’ ledger that can’t be removed.
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A normal database may not be acccurate or verifiable which makes it harder to track.
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Digital provenance has a great benefit to many businesses because it can allow more efficient accounting and auditing by tracking transactions and records in realtime.
- How does blockchain enable digital provenance? Digital provenance becomes operational when you put the information on the blockchain and you can track the information in real time along the supply chain making the system trustless and verifiable.
- Why doesn’t a normal database bring the same provenance? With a normal database you have to trust the person inputting the data and that is not reliable, they can or the process can be corrupted.
- Why is digital provenance such a great benefit to many businesses? Everything along the supply chain can be tracked and you can access the information in real time and its trustless
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Blockchain enables digital provenance by allowing public access to an immutable record where the event chain that forms provenance can be stored.
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A normal database is stored in a centralized location and contents can be changed and removed. Use of any data from a database relies on trusting that source of that data.
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Digital provenance (subject to the issues of scaling) is a very cost effective and efficient way of achieving provenance, especially for international commerce.
Answers to homework on Provenance:
1- By using an immutable and decentralized ledger, any transaction can be traced to its origin.
2- Normal database is centralized therefore can be edited, manipulated, erased and changed. so it can’t provide the same provenance as blockchain.
3- because of traceability and real-time auditing it doesn’t need trust but using verification.
Homework on Provenance - Questions
Q1. How does blockchain enable digital provenance?
A1. Digital assets are created, embedded with digital signature and distributed to everyone in the distribution chain. Everyone can access to the assets at the same time. All modifications were recorded and verified in real-time, making changes transparent. This preserves integrity and creates trust in the asset.
Q2. Why doesn’t a normal database bring the same provenance?
A2. The data is stored on a centralized server and the control is with a designated authorized personnel. The authority is responsible to authenticate the account data of the users before granting access to the database. If the security of this authority is violated, the data may be modified or deleted.
Q3. Why is digital provenance such a great benefit to many businesses?
A3. Digital provenance allows traceability of business assets (the creation process, the creator, date created, how it was integrated etc) and transparency (the real story of assets and not fake). Everyone is using the same blockchain and nobody can tamper with the data in the blockchain.
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By tracking and verifying all the financial transactions in real time, which can neither be manipulated nor destroyed any central authority unless the entire server is completely crashed.
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Because it’s centralised and it’s controlled by an authority which can easily be manipulated whenever they want it. It will never be transparent and verifiable due to being centralised and it’s impossible to audit all the financial transactions transparently on time.
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Because it keeps track of all the transactions transparently which can be verified if needed. Businesses saves time, cost, resources, energy and so on through blockchain technology. for example: A manufacturer manufactures a product which has to be reached to a final consumer and in between the manufacturer and the consumer there are many middlemen, processes and parties to go through before the consumer consumes the product. the blockchain helps to keep all the transactions regarding the raw materials, labor, production plant, warehouse, means of transportation, producers, sizes of the products, cost of the raw materials, salary of the productions workers, quality of the products etc. It keeps track transparently not only the financial transactions but also the processes of the product from the field to the final consumer.
- Blockchain is like a CD/DVD where it is not rewritable. Once verified and recorded, that is permanent.
- Normal databases is like a CDR/DVDR where it is rewritable. Anyone with the authority can rewrite a transaction.
- It is important because it create a trustless system.
Homework on Provenance - Questions
How does blockchain enable digital provenance?
By creating a trust less ledger system over a network
Why doesn’t a normal database bring the same provenance?
Because it is able to be altered by anyone who has access
Why is digital provenance such a great benefit to many businesses?
It creates trust less transactions that are visible for real time auditing- It enables two factors trustlessness and simple traceability. Being public, decentralized and immutable allows for trustlessness. The data within each transaction, allows for easy traceability.
- They aren’t immutable, public or decentralized - doesn’t offer trustlessness.
- They can prove their promises are true to their customers, giving more consumer confidence in their products. Additionally, it allows businesses to trace specifically which point in their supply chain, a problem may have arised; for example product recalls can be done faster and in a more specific ways, saving businesses money and in some cases, saving the lives of the customer (e.g. automobile and food industries).
Does anybody in here work in supply chain management? I’d like to know exactly how blockchain prevents companies from lying. Why not just claim that the coconuts used in producing a certain food is organic when it isn’t? Can’t you still get away by simple, old school lies?
How does blockchain enable digital provenance?
- Decentralized network config consisting of multiple nodes owned by many parties allows for immutability. All transactions are stored and trackable forever.
- Removing the need to find a costly inefficient ‘trusted’ middle(wo)man.
Why doesn’t a normal database bring the same provenance?
- Siloed
- Pretty much always owned, controlled and managed by a central entity.
Why is digital provenance such a great benefit to many businesses?
- automated real time tracking of finances, assets, goods, processes all in a system that is accessible globally by anyone with the right access keys or by the public if not encrypted. Resulting in easy access for anyone that needs it and massive cost savings (eg not necessary to spend many hours of after the fact auditing).
- Through the immutability nature of a blockchain and the trustless verification
- Because a database is mutable, you can try to audit it and make sure everything is coherent with the actual reality, but It’d be more expensive to secure a database. And then since a general Database is centralized, It becomes an obstacle when tracking provenance through the ecosystem.
- It allows a business to be more confident in its supply chain, by being able to verify and not blindly trust.
1. How does blockchain enable digital provenance?
By having immutability, transparency, and traceability.
2. Why doesn’t a normal database bring the same provenance?
Because it is centralized and can be easily manipulated without verification, not immutable, and has no transparency
3. Why is digital provenance such a great benefit to many businesses?
Transactions can be audited in real time by any party. Therefore It would save businesses and organizations time and money to audit finances since accountants as we know them might not exist in the future.
Supply chain teams can precisely track the origin of their products/materials/goods which could significantly help them manage supply chain more efficiently and spot problems much quicker.
Storing all the transaction or movements inside the blockchain (where you can only put in and not take out)
Because in normal DB you can delete data or hack it, and furthermore blockchain is a spreaded DB where all the nodes verify the transaction comparing with their local data
Because you don’t need to trust anyone, you just need to verify a mathematical process and know if that item or transaction or whatever respond to your needs or to what company/people declare
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How does blockchain enable digital provenance?
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Why doesn’t a normal database bring the same provenance?
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Why is digital provenance such a great benefit to many businesses?
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By being an online database
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Because you can amend the records
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You remove middle-men to assure the products you are buying are trustable and bring trust to your own customers to verify where your products are coming from
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Blockchain is a database of transactions on a network of computers. Information in the Blockchain cannot be removed. Digital Provenance through being able to keep track of all information in the database in a trust-less way
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A normal database can be tampered with as it is controlled by a central authority.
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Because a business can transact in a trustless manner, able to keep track of all data knowing it cannot be altered. They are able to keep track of where all the goods they supply have come from. This counts for their customers too. Transparency!