Homework on Provenance - Questions

Blockchain and Bitcoin 101
#3250

  1. Blockchain is a public digital. data base which nothing can be removed from. It functions as a decentralised public ledger that all transactions can be tracked and verified in real time.

  2. A normal data base is controlled by who owns the entity, and therefore can change, delete, and falsify data. There is little to no transparency to this model.

  3. It brings transparency, real time tracking and verifying, which therefore creates an environment where trust isnt necessary

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#3251

Homework on Provenance - Questions

  1. Blockchain enables digital provenance by tracking each state of a given item, for example, origins of ingredients or fabrication of an item. It is an immutable instant record.
  2. Why doesn’t a normal database bring the same provenance? Humans make errors, tracking depends on the human that is tracking.
  3. Why is digital provenance such a great benefit to many businesses? Trustless and verifiable. Criteria can be coded. If the criteria is not met, the contract will not be fulfilled.
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#3252

Blockchain enables digital provenance by keeping a record of all transactions on public display. Verification by other nodes prevents the ledger from being altered as would be possible on a centrally controlled database. Digital provenance benefits business by allowing real-time auditing and chain of custody authentication.

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#3253
  1. Unchangeable real time record of transactions that can be publicly verified.
  2. Words can’t manipulate public ledger.
  3. Consumers are willing to pay a premium for indisputable authenticity.
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#3254
  1. Blockchain enables digital provenance because of the distributed ledger system. I.e. as every step is engraved in the rock. Every data is kept in all the computer/server of the network.
  2. In a normal database one can substract informations which is not the case with the blockchain
    3.Digital provenance convey Trustlessness which is at the end 100% trust. Also blockchain can save a lot of paper work.
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#3255

Sorry @ivan, I am still very new to the techs and I have silly questions. If you allow me I will take an example to explain myself:
I am a Big Sandwich Industry (BSI) and I set up blockchain on my supply chain. I want to show to my customers that the ham I use is the best ham! So I buy the best ham and that will appear on my supply chain, but then I sneackily buy on the side a shitty ham which I finally put in my sandwiches. At the end I just re-sale the good ham to someone else off the blockchain.
This something I don’t understand, at the end even if there is a distributed ledger, you can still write bullshit on it, no?

#3256
  1. You enable digital provenance by being able to track every transaction in real-time without needing to be trusted.
  2. Normal database can be forge but blockchain is only writable and data can not be removed, and you can work faster by bringing together the auditor lair with the transaction lair
  3. You can track everything from where it came from without having to rely on trust.
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#3257

correction in answer number 2…In a centralized* (not decentralized) database there is huge possibility of corruption.

#3258
  1. Because blockchain is public and in real time there is no trust involved. Each transaction can be verified. And the data cannot be manipulated by users or central authority.
  2. A normal database is subject to an administrator(s) and as we see often, hackers. Users do not have the ability to verify so trust is involved.
  3. Ability for instant auditing. Company and customers can interact with confidence/assurance. Risk is reduced. Reporting can be more accurate, less subjective.
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#3259

totally agree. i figured at the second homework assignment to think it out before looking into other answers for confimation :slight_smile:

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#3260

Bitcoin traces digital funds and all coins on the blockchain can be traced throughout its entire lifetime. Physical goods are another story and there are projects that tackle this issue. One of them is OriginTrail. I suggest you contact them and learn by yourself how the eliminate this issues. :slight_smile:

3 Likes
#3261

Ohh, good of you to revisit your homework and double check. I didn’t notice that when reading your assignment.

2 Likes
#3262

Homework on Provenance - Questions

  1. How does blockchain enable digital provenance?
    its all about verifying where something came from to its earliest point. understanding the flow of money from start to finish in a trustless/verifiable way. the blockchain enables this by keeping a public ledger that is constantly verified by multiple unrelated parties and confirmed again by math.

  2. Why doesn’t a normal database bring the same provenance?
    because normal databases don’t allow for the same level of confirmation/verifiability/portability. the way each transaction in bolted on together allows for a few characters to mean a whole story of complex understanding and tracking

  3. Why is digital provenance such a great benefit to many businesses?
    digital provenance is a huge benefit because it allows transactions to be verified and confirmed simultaneously. blockchain puts together accounting and transactions at the same time

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#3263
  1. The blockchain is a public immutable ledger that records data which cannot be changed once created. It is centralized and verified by network of computers.
  2. It is because they are not “digital stone.” Normal database can be manipulated since they are centralized.
  3. Digital provenance is a great benefit because it creates transparency.
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#3264
  1. Blockchain shows the provenance of a transaction. Every transaction written on the network cannot be removed and that brings immutability. Blockchain being an open ledger, every transaction can be traced back.
  2. In a Normal database, the transactions can be removed or erased and the database can be lost, disapear.
  3. Because it is a new kind of real-time auditing, a new approach for supply chain and other improvements which will be developed as long as the adaption of this new way to conduct business.
2 Likes
#3265

  1. It enables a trustless supply chain tracking a product(s) from origin to delivery all on a ledger without loss of quality.

  2. A normal database is based on trust and human error.

  3. Business will benefit with less spoilage, better profit, less customer attrition, and ultimately a safer and better product.

2 Likes
#3266

1 A) A blockchain can be added to but nothing on it can be removed. Hence, it provides an ongoing ledger of all recorded items or events since it was originally started.

2 A) A normal database is centralized, meaning that it is controlled by some party. This entity can make changes, removing or adding, as they see fit. Moreover, the database is typically not public.

3 A) A blockchain allows the business to do a live, accurate audit of every item that was included in the blockchain. If, for example, a business included all of their financial transactions on a blockchain, those items could be checked at any time and would have an accuracy not currently possible on a normal ledger.

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#3267

  1. Blockchain Enables Digital provenance because of the decentralization of it. It is open source and everyone can run a node of the blockchain for the network to verify that the transaction is correct.

  2. Normal databases do not bring the same provenance because they can be duplicated, centralized and can be changed. It can also be hacked as it has a central point of control.

  3. Digital provenance is such a great benefit to many businesses because it allows for a more seamless experience of verifying where everything is coming from and where its going too. It can also benefit them to be transparent to customers as they have all the proof of where all their products are going on a digital provenance that can be altered and nothing can be removed.

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#3268
  1. It enables tracking from origin or source.
  2. Normal databases are not immutable.
  3. Provides an unchangeable record of ownership and provides unchangeable tracking for products.
2 Likes
#3269

Homework on Provenance - Questions

  1. How does blockchain enable digital provenance?
  • blockchain is like an old stone scripture. its a database that is tamper-evident. every transaction that is written on it could never be erased. All transactions and/or supply chain steps can be verified it’s origin.
  1. Why doesn’t a normal database bring the same provenance?
    A normal database is not decentralized. It can be manipulated, reversed, hacked, shut down, etc… it has a central point of vulnerability.
  2. Why is digital provenance such a great benefit to many businesses?
  • It discourages bad actors since any fraudulent actions become extremely evident, almost in real time (depending on block time / block mining difficulty) Like in BTC, for example, it can have the element of trustlessness; meaning it can make fraud or tampering extremely evident.
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