Homework on Provenance - Questions

Blockchain and Bitcoin 101
#3331
  • How does blockchain enable digital provenance? The distributed, immutable ledger of blockchain enables digital provenance.
  • Why doesn’t a normal database bring the same provenance? Normal databases can be tampered with.
  • Why is digital provenance such a great benefit to many businesses? It facilitates “trustlessness”.
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#3332

  1. Blockchain technology enables digital provenance through the decentralised public ledger which only allows addition of exchanges/transactions no removals or editing. These transactions/exchanges are only added once verified by multiple nodes/members of the network as a valid exchange. Once verified and added to the blockchain, the transactions are traceable from beginning to end.

  2. A normal database tends to be centralised on a single server and can be edited or manipulated by users with access to the server.

  3. Digital provenance is beneficial to many businesses as it can provide trust through verified accountability, ease of auditing, real time auditing and/or traceability to ensure ethical sourcing of funds or materials throughout supply chains.

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#3333
  1. Every transaction is recorded on the blockchain
  2. Not public
  3. Helps with thrust
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#3334

How does blockchain enable digital provenance?
Blockchain is kept on multiple ledgers and all have to agree. This allows it to be verifiable and does not require trust of a third party.

Why doesn’t a normal database bring the same provenance?
Normal database is typically only maintained by one party and it can be edited or manipulated.

Why is digital provenance such a great benefit to many businesses?
Digital provenance provides businesses with transparency to their consumers, maintains a ledger of their accounts, and provides for the ability to instantly audit their business.

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#3335
  1. By being open to anyone you can always track and trace the transactions in the blockchain.

2.Cause majority of databases are private and centralised.

  1. The fact that you can audit the transactions in real time will reduce costs and speed.
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#3336

  1. With Blockchain you can have all your Accounting and transactions in one place where all of that is available. Data provenance combined with blockchain are one way to make data more trustworthy, providing tramper-proof information about the origin and history of data records. A data provenance system tracks who has created, updated, deleted with the advent of blockchain the requirement of such trust in a central authority is eliminated.

  2. Because it can be removed, it is not transparent and it is not decentralized.

  3. Because your business will be able able to track everything (from suppliers, ingredients/ to end product). This verify and trace each stage of the process and procedure of the product making it accurate.

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#3337
  1. You can not erase things from blockchain therefor it provides true track, and noone can change that because there is no central authority. 2+2 is always 4. Same thing here. Real info in real time. So much time is saved using this techbology. And if I understand it correctly it is only a drop in the pool of benefits it gives us.
  2. Obviously humans can mess up the data without anyone ever knowing about it.
  3. It is trust less!!!
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#3338

  1. it can put the accounting layer together with the financial layer in one place. all financial transactions are traceable, realtime auditing. Its just A public ledger

  2. Because it can be removed

  3. Because you can track financial transactions or the origin of your products e.x. ingredienst of food, who and where are the clothes made.

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#3339
  1. It provides a roadmap to trace the supply chain of all goods/services that are sold, made, used, or consumed.
  2. Data from a normal database can be augmented, destroyed, or removed. The blockchain can only add data. It cannot erase data.
  3. It creates trustlessness in production, design, and value. Everything made, consumed, bought, or sold can be verified as to its process in manufacturing. Provenance provides truth in transactions.
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#3340

  1. Blockchain enables digital provenance by storing the ledgers on nodes on a network where each transaction is easily traced and cannot be altered.

  2. A normal database cannot bring the same provenance because it can be easily altered and is not necessarily accessible for everyone to see.

  3. Digital provenance is such a great benefit because businesses can track the exact history of something, where it’s been and who it came from. This also removes trust from the equation and allows for full transparency.

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#3341
  1. by assuring incorruptible traceability of all actions and data
  2. because most “normal” databases can be amended or even deleted
  3. digital provenance is a great benefit for most busineses enabling a fast verificable traceability. Remember the “mad cows desasease”
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#3342

1. How does blockchain enable digital provenance?
The fact that every transaction-information gets stored on the public Blockchain makes it possible for everybody to verify the provenance. Furthermore, the Information Blocks on the Blockchain can’t be changed afterwards. (Information can only be added; immutable -> Transparency)

2. Why doesn’t a normal database bring the same provenance?
Because it is not based on a technological base, but on a trust base towards every part of the supply chain Process. A normal database ist centralized therefore represents a closed Silo of Information, public Blockchain destructs these Silos and makes Informational flow open and easier for later interoperability (-> global standards). (Example: Real Time Audits)

3. Why is digital provenance such a great benefit to many businesses?
Provenance holds potential to make the supply chain much more efficient. Furthermore, it creates a higher value for the customer, since transparency is always asked. (Better Customer Relation (More benefits for customer))

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#3343

  1. Blockchain provides an open, not erasable, database where every transaction is tracable, from the origin to every destination.

  2. Because a normal database has always an admin, with powers to erase certain transactions or add/take from specific numbers. It maybe centralized and could be affected by hackers or energy failure.

  3. It helps businesses to link transactions to accounting and you dont need to build trust with you businesspartners.

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#3344

1- By recording information in a decentralized manor . By using a public blockchain that is immutable and trustless. It is recorded and time stamped and sealed into the blockchain.
2- A normal data based is private/owned. It can be tampered with and changed. There has to be a trusted third party to secure the data.
3- It is beneficial in that it can record transactions and the accounting. You don’t have to pay a third party to store your data. It is recorded and can be traced back at any time. It should be more secure than a third party server if the code is correct.

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#3345
  1. Blockchain allows you to track the history of a transaction. Every transaction is written on the blockchain and cannot be removed, only added to.
  2. In a normal database the information can be altered. It can even be deleted.
  3. Because it allows for faster audits and information that cannot be altered later.
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#3346

  1. Blockchain enables digital provenance by being completely trustless. Unlike other databases, No information can ever be removed from the blockchain.

  2. A normal database can be tampered with, can be edited, can have information not only added but also taken away. In other words normal databases don’t bring the same provenance because they are often controlled by a central authority which in turn means they are not trustless or immutable, the information on said databases doesn’t have the same reliability.

3)Digital provenance is a great benefit to businesses for a few vital reasons.
*Due to it’s trustless nature, it provides complete transparency.This is invaluable for any business.
*It provides complete traceability of the product or service provided. This is great for consumer satisfaction.

  • It can be very cost efficient for many businesses. With the possibility of real-time auditing as well as real time verification this often eliminates the need for “a middle man” and can save many businesses a lot of money.
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#3347

Homework on Provenance - Questions

  1. How does blockchain enable digital provenance?
    Blockchain is a public ledger , that le us traced and tracked everysingle transaction and themost importat can not be hacked

  2. Why doesn’t a normal database bring the same provenance?
    the situation with normal Database is the trust,ther are to many things in the process that we dont know an only have to trust , also there is a third party in this centralization and with blockchain no third party need it

  3. Why is digital provenance such a great benefit to many businesses?
    I can not even list the huge benefit but due the transparency of this blockchain we can eliminate the “trust” for the “verify”, we can eliminate a lot of high cost process that in a normal bussiness are required ( third party)and all this process is about trustless ,blockchain makes more efficent every single step. :grinning:

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#3348

  1. Once information is stored on the blockchain it cannot be altered and it can be reviewed by anyone because it is publicly available.

  2. Normal databases are usually controlled by a central authority which sometimes has a financial incentive to manipulate the data. Furthermore, normal databases can easily be hacked because of security issues.

  3. Digital provenance enables businesses/customers to verify the quality and the origin of the product without having to blindly trust their business partners.

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#3349

1.blockchain is a public ledger . so all transactions can be traced and tracked in real time
2. a normal data base can be hacked and erased audited. This database is also based on trust. therefore not opaque
3.That way we know what we are actually getting , you are able to track all your ingredients . this is not based on trust, but is verified.

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#3350
  • 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. Every entry recorded is verified, uneditable and traceable.

  2. Centralised, Mistakes can be made such as duplication, deletions and data entry.

  3. Trustless being my main point, time and cost saved re research and record keeping.

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