Homework on Provenance - Questions

Blockchain and Bitcoin 101
#3190
  1. Through proof of work
  2. A normal database is not constantly verifying it’s work.
  3. It automatically keeps record of all financial transactions, Which ultimately will reduce costs!
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#3191
  1. How does blockchain enable digital provenance?
    By providing real time auditing and eliminating trust. Therefore one does not need to trust the label on a product but in fact can verify on the blockchain.
  2. Why doesn’t a normal database bring the same provenance?
    A normal database has to have a central manager, and this manager needs to be trusted. In a normal database entries can be removed or changed but in a blockchain once a transaction is added it can never be removed or modified.
  3. Why is digital provenance such a great benefit to many businesses?
    The biggest advantage is that it eliminates the need to trust some authority.
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#3192

!. The blockchain enables digital provenance by being trustless. It allows you to verify your transactions through the decentralized ledger which is multiple computers agreeing that the transaction has occurred.
2. A normal database doesn’t do this because it allows changes to occur. The blockchain however can only be added to so there is a clear trail of proof that a transaction has occurred that cant be modified. And then it uses multiple computers matching their ledgers to agree the transaction occurred.
3. Digital provenance is so important to the businesses because it allows them to track products, confirm deliveries, confirm financial transactions, etc. All in a permanent format “digital stone” that shows proof through the ledger that a transaction has happened.

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#3193

How does blockchain enable digital provenance?

By having its data being unmodifiable and corroborated by several decentralized networks

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

Because a normal database can be modified or erased, it does not offer the possibility of looking back reliably on its history.

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

Because digital provenance makes the data reliable from its origin. As a consecuence there is no need for a third-party auditor certification.

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#3194

  1. Blockchain enables digital provenance, by all transactions being open and trackable. No auditing or third party necessary.

  2. In a normal database, data can be manipulated or removed, so does not bring the same provenance.

  3. Digital provenance means that businesses will no longer have to trust or believe what a supplier or third party is telling them, they just gave to verify.

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#3195

It allows transactions to be verified in a transparent and trustless way and prevents data from being modified or deleted.

A normal database doesn’t allow for:

  • data that doesn’t change or can’t be deleted
  • decentralization
  • simple transparency of transactions to anyone

They don’t have to trust suppliers, manufacturers, distributors, etc. as to where the ordered goods, raw materials, etc. have come from. They can look at the transactions on the blockchain to get a full picture for themselves.

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#3196

  1. blockchain tracks all transactions and verifies them as they happen before they can be added to the blockchain, which allows anyone(if it is public) to follow the links of the blockchain back and see every transaction that took place in order to get to the current one.

  2. A normal database can be changed by any admin with access to it, allowing for things like data manipulation. Most databases are also not completely public for security reasons, meaning a lot of the information even if it is accurate can’t be viewed by everyone.

  3. Digital provenance allows businesses to show potential customers exactly what they would be getting from the business. Customers in turn will then be more confident in buying something if it meets the need or want they have. I could see this making advertising a whole lot easier for businesses because they don’t need so many ways to pull customers in, they can instead just show them exactly what they would be receiving.
    Businesses also could be more confident in materials they receive from suppliers allowing for more confidence in their finished product

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#3197

• How does blockchain enable digital provenance? Through public ledger
• Why doesn’t a normal database bring the same provenance? Because it is not public and decentralized so it can be manipulated
• Why is digital provenance such a great benefit to many businesses? Allows for individual transparency. You can be your own auditor.

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#3198

1. How does blockchain enable digital provenance?
As the blockchain decentralized system, and it is a network of computers (ledgers, nods), it allows verifying any entered data to this network. To change anything, you have to rewrite all data copies in all blocks, which is impossible.

Why doesn’t a normal database bring the same provenance?
The critical factor is decentralization. There is no monopoly or vertical policy, where all data is stored in one system or place.

Why is digital provenance such a great benefit to many businesses?
The digital provenance enables transparency naturally, as the records are saved permanently within all network participants. Any business relations or any human or even AI interactions can be build based on this technology.

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#3199

1 How does blockchain enable digital provenance?

Blockchain acts as a real time public ledger. Any data added cannot be changed, creating an immutable record of information.

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

Conventional databases can be corrupted/manipulated. Information is often private and not instantly available. Auditing conventional databases can be costly.

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

Because the blockchain is a public real time database of information that cannot be changed, essentially a trust less ledger. This in and of its self is valuable as it is a way to audit and verify information in a fast and cost effective way.

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#3200

1 - blockchain enable digital provenance working as a digital stone , data cant be deleted and can be publicly verified.

2 - data can be manipulated . Need of trust.

3 - businesses doing the right thing can prove they “due dilligence” to the public.

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#3201
  1. everything can be verified - accounting and transactions altogether.
  2. There’s a lot of “hands” involved in the process and information fall on the way.
  3. There’s no need to trust in any entity along the process bc we can verify everything which make it good for everybody.
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#3202

1:it is enabled by the fact that it cannot be manipulated because only data can be added but not removed. Also every transaction can be audited in real time.

2:because it can be easily manipulated in many ways(duplication, authority rewriting)also only single components in chains of goods can be viewed rather than the whole process.
It takes time/money to audit single transactions. They cannot be viewed in real time.

3:it removes the trust factor, which brings a ton of benefits like removing opaque in supply chains or removeing parts of auditing since this is being done by the blockchain itself. Businesses also save time/money due to the possibility of real time auditing.

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#3203
  1. By being decentralized and using cryptography the blockchain is started then perpetuated. Anyone can view any blocks once they are attached to the chain. Once finalized, they cannot be altered.
  2. Normal databases are completely different. They exist in only one incarnation, which can be altered at any time. Access may or may not be public. The server must also be trusted by the users of the database. Lots of reasons why they cannot fulfill the same use-cases.
  3. An immutable public record that nobody can alter has many use-cases!!
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#3204

How does blockchain enable digital provenance?
Why doesn’t a normal database bring the same provenance?
Why is digital provenance such a great benefit to many businesses?

  1. By creating an immutable record of transactions on a ledger which is public but crypted. Selected “authorities” can decrypt the information using the key from their selectors. The Blockchain enables to create a trustless environment that takes away the need of Trust automatically and turns it opsolete.

  2. Normal databases are centralized and controlled by a few. A LOT of trust is “needed” to justify this procedure. A normal database is very easy to manipulate (Wirecard).

  3. By having digital provenance in future there is no guy in the office needed going through receipts and take a look at accountings. Another point is also, that according to some surveys, up to 30 percent of manufactures have no clue about where there ingredients come from. Except the information they get from their suppliers. Trust is still a huge part of the industry.

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#3205

1. How does blockchain enable digital provenance?

Blockchain enables digital provenance by being a digital public ledger where transactions can only be added and also traced or audited in real time. Blockchain eliminates the need for trust with people and physical institutions such as banks and auditors replacing trust with verification using scientific method, logic and code.

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

There is a high level of opacity when discussing characteristics of normal databases. Normal databases can not bring the same provenance because they can easily be manipulated by any user. Normal databases can be deleted, duplicated, rewritten or erased.

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

Digital provenance is a great benefit to many businesses because it offers transparency to its customers and suppliers. Customers would know exactly what to expect such as what they are paying for and where it’s coming from. This would eliminate doubt and boost confidence in the customer and create value in such company all the up the supply chain. A 100% “trustless” system.

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#3206

  1. How does blockchain enable digital provenance?
    You can track everything that is on the blockchain from Its beginning to the final product.

  2. Why doesn’t a normal database bring the same provenance?
    Because you can delete things. You can´t delete the Blockchain, you can only add things.

  3. Why is digital provenance such a great benefit to many businesses?
    You can really know where does anything comes from. Also, you can verify instead of trust.

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#3207
  1. By providing complete transparency in an immutable public record.
  2. In a normal database the information is under the control of select entities, it is subject to change, and basis for the information is not indelibly tied to the source, therefore it is not “trustless”.
  3. Digital Provenance will solve many of the business concerns that now require massive human labor. The sources of everything money now touches from ingredients and labor, to vendors and financing partners will be in effect be within the public domain. For many business this will initially impact as a major breech in privacy. It will transform the marketing and public relations functions of every major industry.
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#3208
  1. Blockchain enables digital providence providing a historical record of all input data. The data in the blockchain cannot be changed without the consensus of 50% of many decentralized nodes.
  2. A normal database doesn’t bring the same provenance because the information is centralized by one sole party. It can be modified, deleted, or hacked at any moment in time. We have to trust in one centralized authority managing the data. This is not reliable.
  3. Digital provenance is such a great benefit to many businesses because it guarantees the reliability of the historical data of their supply chains and makes them more efficient in time, cost, and quality. Their customers will benefit by knowing exactly that the information the product, brand, or company claims about the product is actually verifiable on a trustless blockchain.
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#3209
  1. How does blockchain enable digital provenance?
    The blockchain keeps an immutable ledger which records every single transaction. Because the Bitcoin network is verified by miners that each have stake in keeping the ledger honest, they all majority verify transaction to keep the ledger of transactions accurate and honest. Dishonest actors who try to manipulate or cheat the ledger will get rejected by the majority of miners that verify the ledger. This security feature keeps Bitcoin immutable and unchangeable, and we call that phenomena “digital provenance”.
  2. Why doesn’t a normal database bring the same provenance? A normal database is centralized and can be manipulated by any person who has the security clearance to do it. A normal data base also doesn’t have a cryptographic security system for its users and exchange of funds, which makes it easier to hack. A normal data base probably won’t use a blockchain ledger to store its transaction history, so they don’t have that trust machine aspect of BTC.
  3. Why is digital provenance such a great benefit to many businesses? It brings trust and confidence in those who use it. The data stored with digital provenance can be trusted because it can be verified by anyone. That is a valuable property to have!
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