Homework on Provenance - Questions

Blockchain and Bitcoin 101
#3028
  1. How does blockchain enable digital provenance?

Blockchain enables digital provenance because it can keep track of anything ever entered in the database and is unable to delete any of it.

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

A normal database does not bring the same provenance because normal databases are easy to manipulate. You can change information while blockchain does not allow that.

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

Digital provenance is such a great benefit to many businesses because it allows companies to keep track of everything going on within their company with ease and precision.

2 Likes
#3029

  1. Everything is visible on the public ledger making it possible to verify the history of previous and current blocks and transaction hash.

  2. In a normal Database you can edit and remove previous entries, this requires that you use a database that is managed by a trusted and legitimate manager. With Blockchain you can not do this so that makes it a trustless form of digital provenance.

  3. Piggy backing on my previous answer, because Blockchain provides digital provenance on a public ledger that can not be changed or modified, this eliminates the need for a trusted middleman to manage the databases. Less middle men means less cost to the businesses that use blockchain.

1 Like
#3030

  1. Blockchain enables perfect audit trail because transactions can only be added, need to be validated first by all nodes in the network before being added, and finally is open & can be accessed by anyone who has access to a node.

  2. A normal database can be modified (insert,update,delete entries) and is typically centralized.

  3. Digital provenance enables transparency & trust in their transaction/transaction attributes. This can streamline many processes, whether internal / cross organization and potentially remove the need for time consuming, expensive audit processes.

2 Likes
#3031

1 Blockchain contains record of ownership, accounting, and transaction information. It can perform real time audits telling you things like where ingredients in your food have been or what part of the supply chain it has passed through.

  1. Too many different disconnected entities. Blockchain allows for a centralized place anyone can look in on.

  2. It can verify any part of any process instead of leaving it up to “trust”

1 Like
#3032
  1. Because you are able to verify all past transactions, blockchain allows you to look at where an object has been before getting to you.
  2. A normal database can be manipulated and leave things out. You have to trust whoever created and controls that database.
  3. Because it allows the customer to know everything about the product they are buying.
1 Like
#3033
  • How does blockchain enable digital provenance?

Blockchain enables digital provenance buy storing all transaction data and the accounting data together as one transaction in a public ledger where we can verify the transactions authenticity.

  • Why doesn’t a normal database bring the same provenance?
    Normal Databases store information about account balances and transaction data separately

  • Why is digital provenance such a great benefit to many businesses?
    Digital provenance is a great benefit because we can trace products through the supply chain, and remove trust the equation.

2 Likes
#3034

1- blockchain enable digital provenance by providing a decentralized and immutable database/infrastracture where all the transactions can be plublished and verified by everyone creating a trustless network of information

2- because normal databases are centralized and anyone can just change informations and datas creating a trust based network but not verified

3- because a business can track all the origins of what they purchase, and verify if the product is fine creating customers satisfaction

2 Likes
#3035

  1. How does blockchain enable digital provenance?
    Blockchain keeps a public, permanent verifiable record. Origin of product is therefore transparent.

  2. Why doesn’t a normal database bring the same provenance?
    Any record obtained must be trusted as accurate. Any gab in standard record keeping creates a schism on the history of said product. These records are usually closed, held by individuals or parties, i.e. not public.

  3. Why is digital provenance such a great benefit to many businesses?
    Digital provenance on the blockchain is open & verifiable. The ledger doesn’t require trust, as it is proven by open consensus. This method of record keeping is highly accurate, guaranteeing quality output. At the end of the day saves time/money, which enhancing product quality.

2 Likes
#3036

  1. Because the blockchain cannot be governed by people, it is controlled by a network of computers. Transactions can only be added but cannot be mutated which provides transparency for an individual to see the state of every record committed to the ledger as every state is traceable. Due to this we achieve digital provenance.

  2. Because a normal database is governed by people and can easily be manipulated by individuals and so we have to trust the data that is coming to us. Due to this we can’t trace the state of the database fully and so digital provenance can’t be achieved.

  3. Because it becomes easy to track and trace data. There’s also the benefit of interoperability, enabling businesses to integrate and aggregate data from multiple sources into their own systems since all of them use blockchain with ease. Saving time and money since their developers do not have to figure out what their clients are using to create data structures that require more technical skills. (Correct me if I’m wrong)

1 Like
#3037
  1. Through public ledger
  2. There is no detailed info about f.e. invoices in usual bank transactions
  3. Trustless/decentralized. Live auditing.
2 Likes
#3038

Removes trust from the equation. transactions or ledger entries cannot be altered. ability to in real time audit an organization

1 Like
#3039
  1. Blockchain enables provenance by recording transactions in a trustless way, and cannot be modified by a malintended person.
  2. A normal database can be manipulated due to its nature.
  3. Digital provenance makes business information reliable to its stakeholders.
1 Like
#3040
  1. Thanks to Public ledger, which stores history of all activities(transactions). Public ledger is shared on decentralized computer network
  2. Because “normal database” is centralized, so it can be manipulated by the owner
  3. Because it removes need of trust
2 Likes
#3041
  1. Blockchain enables digital provenance by tracing & auditing transactions in real-time.
  2. A normal database doesn’t bring the same provenance because you can delete data from it or modify it.
  3. Digital provenance is such a great benefit to many businesses because you are capable to trace products and are capable of removing trust.
1 Like
#3042

Through an immutable public ledger saved on every single node of the network.

A normal database does not need to be verified by all the other “copies” of the database, and it’s not public.

Because the blockchain is inherently trustless, verifiable traceability comes for free and this feature of the blockchain can create new business opportunities.

1 Like
#3043
  1. Blockchain enables digital provenance by its availability of a public ledger to verify transactions validity.
  2. A normal database can be manipulated because they are controlled by private firms with no public access.
  3. It is such a great benefit to many different business because it allows the capability to verify labels of all different products . Checking validity of supplement labels, to checking to see if a shirt was really made in Italy.
1 Like
#3044
  1. By making the currency “trust less”. It cuts out the middle man and authority sources that control money such as governments and banks, so everyone has asscess to it.
  2. Because a normal data base can be easily manipulated
  3. It makes tracking more of an efficient process. Also things such as auditing can be done in real time.
1 Like
#3045
  1. A crypto like Bitcoin is trustless because two parties can transact without a third party intermediary. Protocols replace third-party intermediary
  2. Bitcoin blockchain is immutable, a normal database can be changed . Nothing can be changed, making it a permanent record of all transactions. Stored on thousands of computers, spread across the globe.
  3. Removes the need for trust between parties
2 Likes
#3046

  1. By being a public decentralized ledger where all transactions are recorded and are immutable.

  2. Because a regular database can easily be modified.

  3. Because it allows to create trust between parties who do not know each other or who do not trust each other. Technology serves as a third party trustless layer. It also improves work flow, removing many burdensome tasks like manual auditing of paper trails.

1 Like
#3047

  1. Each node on the blockchain keeps track / has a copy of every transaction

  2. A normal database case be modified. Some data can be erased.

  3. It keeps track of transactions and removes the trust aspect.

1 Like