Homework on Provenance - Questions

Blockchain and Bitcoin 101
#3108

1 - by tracking data transactions in real-time
2- A normal database is centralized meaning that it relies on a third party to track and compile transactions - It also lacks the transparency offered by a blockchain solution which provides public, readily available data
3- Digital provenance allows businesses to complete trustless, secure & safe, decentralized transactions. It is clearly more efficient for businesses allowing for better resource allocation.

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#3109

The Blockchain being a public ledger and transparent, allows to track all the transaction and verified them in real time.

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#3110

  1. How does blockchain enable digital provenance?
    Blockchain is a database where data can be added, but not removed. It enables to track back all transactions.

  2. Why doesn’t a normal database bring the same provenance?
    Because in a normal data base you can remove a transaction.

  3. Why is digital provenance such a great benefit to many businesses?
    They can trace financial transactions in real time, have real time auditing, etc. They don’t need to trust, they can verify.

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#3111

1- How does blockchain enable digital provenance?

-We can trace and track financial transactions and also we can perform a real time auditing.

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

Normal databases are depending on trust and requires external auditors that costs a lot of money.

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

  • No need to hire very expensive auditors.
  • It brings so much value and efficiency for the business.
  • It is trustless. “Don’t trust, verify”. :grinning:
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#3112
  1. How does blockchain enable digital provenance?

Blockahin enables provenance by being able to track all historical transactions. You can trace and know exactly where all transactions originated from and where they went.

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

other normal databses can’t do so because they cannot bring together the accounting ledger and the transaction ledger in 1 like blockchain can

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

They can easily verify where all transactions went in a very efficient manner without having to use 3rd party entities like KPMG, Deloitte, etc.

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#3113

  1. How does blockchain enable digital provenance?

    Blockchain allow financial transactions and processes to be trackable. It removes trust on the process and gives verification.

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

    A regular database has two layers on the process. For financial process for example, the accounting layer is separated from the transaction layer.

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

It brings faster and accurate data, real time auditing, replaces trust for verification and for that brings value on the process.

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#3114
  1. The public ledger used to track each transaction on the blockchain makes it so that each transaction is verified. This creates digital provenance because the history and source for each transaction is freely available on the ledger.
  2. Normal databases can be manipulated and require at least some degree of trust.
  3. Digital provenance offers businesses a way to verify the sources of their products and prevents the business and its customers from having to deal with any dishonesty or mystery in the production process of goods.
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#3115
  1. It provides the abiltiy to trace and real time audit with trustlessness and immutablity.
  2. Based on an expensive, delayed trust system, which is easy corruptable.
    3.It provides the ability to have a trustless real time audit with private and public access.
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#3116
  1. Blockchain is decentralized and transparent allowing all nodes or computers to see what is occurring at once. I is trustless as a result. Nothing but math sequences which are verifiable.
  2. A “normal” data bases are not decentralized or transparent by any means. So they can’t bring the same provenance. With blockchain you can add to it but you cannot take from it. That requirement is a blessing as you cannot disappear the truth of the use.
  3. Blockchain allows for less “fudging” making things “VERIFIABLE” which secures a trustless environment with far less work involved in tracing what you are wanting to verify. It is a public ledger!
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#3117
  1. Blockchain enables provenance because it is a ledger that can be added to but nothing can be removed. Therefore there is an unchanging chain of data that can include anything from it’s birth or beginning to its end. Therefore the story of any item or transaction is always transparent and accessible to anyone.
  2. A normal database can be damaged, lost, and edited. Data can be removed, or lost. The data can be locked and others can’t access it. It is not transparent. It is fragmented.
  3. Digital Provenance removes the need for trust in any exchange of goods, services, or assets. So any business that can verify the quality of their work and business will benefit and it increases the integrity of the businesses that serve the public. Which is SORELY NEEDED!!
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#3118

  1. it enables digital provenance by it being a public ledger, everything is set in stone and nothing cannot be removed just added to the blockchain.

  2. due to todays world a centralized database mean someone has access to add and remove data from the ledger database.

  3. it allows us to move forward in life, knowing everything can be tracked and liked to the need of your customers. it also makes room for more business to grow,

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#3119

1.Provenance is a beneficiary of blockchain for tracking something such as financial transactions and ingredients.Whereas, blockchain is the verification system that eliminates any biases or prejudices from the transaction.Blockchain with provenance puts together the accounting layer with the transaction layer.
2.The reason why normal database doesn’t bring the same provenance is because it bias and prejudice based on human beings agenda and motives.
3.Provenance will track and trace the origin of source thereby bringing transparency and authenticity to transaction by removing inherited bias and prejudices.

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#3121

Q: How does blockchain enable digital provenance?
A: By being a public, decentralised, immutable and transparent ledger.

Q: Why doesn’t a normal database bring the same provenance?
A: Because a traditional database works on a centralised model where a central authority can mutate and manipulate the data thus not providing transparency or inducing trust.

Q: Why is digital provenance such a great benefit to many businesses?
A: Because it provides a trust-less model in which it is simple for anybody to easily verify/audit transactions/data (transparent) thus building a competitive advantage.

Let me know if I missed anything or can improve my answers :slight_smile:

Thanks,
A

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#3122

  1. Blockchain enables digital provenance by creating a permanent digital (immutable) record of each transaction in real time, which can be publicly accessed and tracked at any point moving forward.

  2. In traditional databases, those authority figures or trusted parties with access to the information can edit or manipulate it, therefore requiring a degree of trust. Also, the fact that a traditional database is stored on a central server or limited group of servers, means that it can be open to malicious attack or accidental loss/damage (e.g. through hardware malfunction, loss of power, fire, flood etc.). Therefore, there is no guarantee of immutability, such as exists in a large, decentralized network.

  3. Digital provenance can benefit many different types of business by bringing increased integrity to their products in many different forms. Some these include: Tracking the sources and qualities of all ingredients used to produce food, medicines or beverages; or tracking the exact origins of all the materials and labour used to manufacture clothing, electronics or vehicles for example. Perhaps the most universal business use case, is that it provides the ability to carry out real time auditing on the fly, drastically reducing the costs and logistic requirements involved in traditional financial auditing.

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#3124
  1. Blockchain allows digital provenance to take place around the globe because the consumer is able to verify everything. Also, Blockchain data cannot be changed, it is “set in stone”.
  2. A normal database does not bring the same provenance because data and transactions can be erased, lost or modified without the consumers ability to verify.
  3. Digital provenance for business helps remove the trust factor (ingredients in a product), this also allows the consumer to verify the legitimacy of a product. It also allows for real-time auditing.
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#3125
  1. How does blockchain enable digital provenance?

Since it cannot be altered only added to, the blockchain shows a clear (often public) record of the lifetime or path of an item or asset. For example you could trace authentic ingredients from their origin on the suppliers farm all the way to the final meal.

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

Because it is not transparent thus you have to trust it instead of being able to immediately verify it like you can on a Blockchain.

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

They can operate in a trustless environment and immediately verify transactions which has the potential to vastly increase efficiency.

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#3126

  1. Every transaction is written on the blockchain and cannot be removed (immutability). Blockchain helps digital provenance by keeping transparent records of the transactions. Therefore it’s a trustless method in which no central authority or government can control the blockchain and/or change the data on it.

  2. In a normal database, a transaction can be removed or erased. A normal data base is owned by a central authority with the information stored on hardware or in cloud storage where the owner has or can assign administrators who determine access controls. For this to work, you need trust.

  3. Digital provenance is a great benefit to a business as users can have confidence a supplier’s information is correct because it is stored on a public ledger of the supply chain to the end user with the ability to provide data on all transactions. Using RFID can further benefit this by providing digital identification for individual products, making it possible to spot the counterfeit items from the original ones.

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#3127
  1. How does blockchain enable digital provenance?

A: By creating a system in which you instill trustlessness

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

A: other systems rely on human interaction which must be verified by other humans

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

A: By taking away the aspect of trust customers know first hand verified and reliable information.

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#3128

Homework on Provenance – Answers to questions

  1. How does blockchain enable digital provenance?

Blockchain uses public ledgers where all information are stored as copies in a decentralized way. Added information can not be modified after being added to the chain.

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

A normal database can be manipulated. They rely on trust ( e.g. Database of bank accounts where we need to trust the bank that data will not be manipulated.

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

Because the originality of a product or the origin and, if applicable, the manufacturing conditions of the product or even of the starting materials of such a product can be proven beyond doubt.

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#3129

  1. By storing all information publicly on the ledger that can’t be deleted or manipulated.

  2. Because they can’t confirm that the information is 100% true. It could be manipulated or hacked and is not as trusted as a blockchain.

  3. Because they don’t have to trust in other businesses or partnerships data being true or false. They could trace everything on the blockchain knowing that the data have not been corrupted or manipulated at any point. Customers too will be able to trust the products and the businesses as they can verify the data themselves.

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