Homework on Provenance - Questions

Blockchain and Bitcoin 101
#3511
  1. By providing a history of the entire transaction history since the blockchain’s inception.

2.Because a normal database is not owned publically by everyone like the blockchain and it can be modified at will. You can freely add and remove data from the database while from a blockchain you can’t remove anything.

  1. It removes the trust problem. It allows for everything to be tracked(ingredients in a product, materials from a clothing accessory) so that businesses don’t need to focus on that aspect anymore. The customer knows what he’s getting without the fear of being tricked. True value is allowed to develop this way as skepticism and fear greatly reduces.
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#3512

[quote=“ivan, post:1, topic:8423, full:true”]
Homework on Provenance - Questions

  1. How does blockchain enable digital provenance?

Blockchain is the collection of authenticated data in a public ledger. It’s that uses a large networked of computers to provide a consensus service to validate and confirm data exchange or transactions using certified cryptographical verification in a distributed and decentralized ways. Transactions in added to the chain of blocks that allows tracing, tracking of the historical transactions which is immutable and trustlessness.

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

In normal centralized database, transactions can be easily hacked, manipulated, human errors and subject to many points of failures leading traceability, trackability and lost of data or corruptions of information. The trust depends on limited ownerships and silos in nature of human’s verification. The centralized normal database cannot ensure transparency and can subject to unfairly manipulations or human errors, leading to more complex issues.

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

Accurate, effective and efficient real-time financial auditing. Records are kept into one layer making tracing and tracking of accounting and transactions easier and immutable. Since blockchain uses a chain of custody for information, origin and historical source of subsequent modifications that led to the current state can be authenticated and tracked trustlessly across multiple sources accurately and with transparency through a certified cryptographic verification across a distributed networked of computers.

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#3513

1 By using a digital ledger you can easily track all the information about a product (since all the info is publicly available) and simultaneously audit transactions (for tax purposes) thus making the whole process very transparent, trustlessness and efficient

2 The information in the normal database is mainly stored on one server, it is most likely private, can be censored therefore lack of trustlessness and ability of verification

3 Yet again you can easily access any information of your need going through blockchain, transactions are completely transparent (and faster than mail delivery), information is verifiable

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#3514

  1. How does blockchain enable digital provenance? Since all the information is stored on several decentralized public ledgers, which is decentralized and public any transaction and account balance can be traced back to the first genesis block.

  2. Why doesn’t a normal database bring the same provenance? A normal database does not have public ledger but rather has a central database, hence making it accessible to manipulation.

  3. Why is digital provenance such a great benefit to many businesses? Companies praising themselve with, for eg. clean or green production methods, dont have to rely on the trust of the people, since the whole manufacturing process could be comprehensible on the public ledger. Thus further expanding the brand and the trust of the costumer.

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#3515
  1. How does blockchain enable digital provenance?

as all the inner workings made decentralized therefor isnt dependent on trust but is trust less. in which case there isnt anyone that can control and manipulate the block chain data…

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

normal database is too dependent on the trust of everyone involved in the process and offer no real time tracking or can be easily manipulated by editing data !

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

anyone can easily check the available data in real time and verify that the entire process from transport to packing to ingredients to the freshness of the produce to the T and make sure thats exactly is what being used and where they are harvested from !

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#3516
  1. By keeping record of all transactions.
  2. The normal database can be edited. Also the blockchain data needs to be verified by all nodes in the network. In case of normal database this is not needed.
  3. It can optimise costs, speed up processes, verify the product quality.
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#3517

  1. A blockchain enables provenance by being a decentralized public ledger. The information in the blockchain can be added but not removed. Because the ledger is public, the transactions or processes can be recorded at each step.

  2. A normal database is not as functional because you have to trust the company with a normal database. This allows the company to lie about the process or sources of materials. A blockchain allows you to verify the information without needing to trust the company.

  3. The benefit to businesses is that customers can verify the quality of the products and be happy/satisfied. This also allows real time auditing and the accounting and transaction layers are put together.

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#3518
  1. the blockchain is immutable (you cannot delete from it). As such the transaction and the accounting can be combined on the same chain for ease of auditing. blockchain is an open ledger, all transactions can be traced on the chain.
  2. a normal database usually only contains one or the other (accounting or transactions), plus the database is changeable. IE. entries in the database can be deleted or modified. Further databases are subject to crashes as they are typically located in a central location (but hopefully backed up). whereas, a blockchain database is stored on multiple nodes, which ensure the security of the database.
  3. digital provenance is a trust-less system. It does not require trust in on person/org, only trust in the contents of the blockchain. it further allows for continual auditing of the chain.
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#3519

  1. Using an immutable, set in stone ledger, anyone is able to track from the origin and path of any asset.

  2. Databases are inherently are for the benefit of the holder. This means that they are not universal. The holder of the database is not only the controller of its setup and structure, they are also omnipotent in the actual data i.e can be lost, changed, manipulated…

  3. Understanding the quality of any asset is key to the validity and strength of any business. With long chains of information and asset transfer the degradation is akin to a game of Chinese whispers. Unless an “independent body” is managing and overseeing the transaction (which has its own risks and fallibility), everyone has to work on a system of trust. As much as we would like to believe in the trustworthiness of all humans and institutions, this historically is not the case.

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#3520

  1. How does blockchain enable digital provenance?
    By keeping a record of every transaction from the beginning allowing an easy way of tracking and tracing.

  2. Why doesn’t a normal database bring the same provenance?
    A normal database allows the function of removing where as the blockchain does not allow this.
    It has the functionality of only adding to the ledger once it’s verified.

  3. Why is digital provenance such a great benefit to many businesses?
    It becomes trust-less and removes the need of having people and firms auditing their transaction. As well as real-time auditing

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#3521

  • How does Block Chain enable digital provenance?
    With trustlessness and RT auditing.

  • Why doesn’t a normal database bring the same provenance?
    With a normal DB, you can add/delete and it is not always opaque.

  • Why is digital provenance such a great benefit to many businesses?
    It does not require trust, all the end user needs to do is verify what is written on the Public Ledge.

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#3522

How does blockchain enable digital provenance?
1-By allowing to track the provenance of a transaction.

Why doesn’t a normal database bring the same provenance?
2- There’s no centralized authority that can modify the data as in normal databases.

Why is digital provenance such a great benefit to many businesses?
3- You don’t have to trust but verify instead

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#3523
  1. How does blockchain enable digital provenance?

By creating an trusted, de-centralised audit trail and network where validated records can’t be removed or altered, only added to.

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

It often relies on many layers of trust that the data is valid and true. As traditional databases are centralised this creates risk as they have a single point of failure which makes them far more subject to errors or potential corruption and maniuplation.

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

Auditing and provenance is expensive so this will save businesses a huge amount of money and make them more agile and efficient. Transparency of supply chains and open, trusted and verifiable data records gives confidence to their customers, investors, partners, suppliers and staff.

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#3524

  1. Blockchain enables digital provenance by providing a constant, non-falsifiable ledger. If each step or move of an item is paired with a blockchain entry, it can’t be changed later on.

  2. A normal database can be altered after it is written. If someone keeping a database noticed impropriety and wanted to hide it, they could falsify the database if they had access to it’s only or core copy.

  3. Digital provenance is a benefit because companies can keep a closer eye on transactions of any sort, and not worry about them being falsified later on. If something is done improperly, it is recorded anyway, and easily verified at any time in the future.

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#3525

#1 Through a public ledger
#2 the account and transaction are not present
#3 b/c you can track ALL of the ingrediants

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#3526

  1. Every transaction can be tracked & audited in real time on the blockchain & because trust is not a requirement (due to an imitable ledger) & this is all that is needed to verify the authenticity of the transaction or time stamp or location of goods, etc.

  2. A normal data base can be changed & therefore requires trust of a centralised 3rd party to verify it’s authenticity. A blockchain does not require this & is a trust-less decentralised system.

  3. This will benefit companies in that they will no longer need trusted 3rd parties to verify & audit their practices & will give the added benefit of ensuring that their customers are able to trust in the product or service that they are being provide precisely because the blockchain has no vested interest or inclination to deceive them. The data & analytics will be open & freely available in one place & will drive efficiencies & innovation.

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#3527

1.Once a transaction is stored on the blockchain, it is like a digital stone in that it cannot be changed/erased/corrupted.
2. A normal database can be edited.
3. Digi provenance benefits businesses in that it is in real time, merges accounts and transactions, is more efficient, works automatically and trustlessly without a 3rd party involved.

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#3528

  1. How does blockchain enable digital provenance?
    As a transaction’s origin in recorded in the blockchain (public ledger) which is available for all to inspect and the blockchain (public ledger) cannot be changed every user can see the origin and subsequent transactions related to it we can thus achieve digital provenance.

  2. Why doesn’t a normal database bring the same provenance?
    Normal databases are controlled by someone, some company, some authority and are not public databases. So any changes made to the origin of the data cannot be verified. Hence there can be no provenance as we would have to trust the entity controlling the database that they have not made any changes to it.

  3. Why is digital provenance such a great benefit to many businesses?
    Digital provenance would allow businesses to function with each other in a “trustless” environment. There would we be no need for any third-party verification. The speed of transactions would increase.

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#3529

a normal database doesn’t bring the same provenance because it’s controlled by one entity wich can change data at any time. So you have to put your trust in it.

#3530

1- The digital provenance is provided by the computers across the network that can verify, track and store every transaction and, if confirmed, then is added to the blockchain and can’t be removed.

2- Normal database are centralized and can be controlled or manipulated.

3- Digital provenance remove trusts and improve the quality and transaparency for business transaction

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