Homework on Provenance - Questions

Blockchain and Bitcoin 101
#3572

  1. that all transactions can be viewed on the blockchain wich you can only add to and not remove information. also tracking merchandise and ingredients ect…(origin trail) where you can verify that you’re actually getting what you asked for whitout having to base it on trust

  2. a normal database is normaly owned by a company that is keeping the ledger or database wich they can change or manipulate or choose not to show you, wich will build on you having to trust them that this is what you ordered wich is sometimes not the case

  3. you can both verify that you are getting the product that you ordered and will be abel to verify supplyline of your product and some cases wich part of the supplyline it has already passed.

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#3573

  1. How does blockchain enable digital provenance?
    Accounting and Transactional data is not separated (both are present). It’s also immutable. No third party is required to be trusted. No (human) mistakes can be made.

  2. Why doesn’t a normal database bring the same provenance?
    Because a normal DB has a failing point: the centralized entity holding the data can be compromised: altering data, hacks. Data cannot be fully trusted due to this.

  3. Why is digital provenance such a great benefit to many businesses?
    No third party required to verify data, you can do it by yourself. It’s a trustless system, which cannot be tampered with.

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#3574

1 - blockchain ensures that each transaction is verified as it uses decentralised controls to prevent data tampering and, once a transaction is accepted, it can never be deleted. With this, the full history of a transaction can be traced to ensure the true origin of all the component parts is available and without dispute.
2 - A normal database can be changed and does not have the full history for all component parts for example it is easy within normal accounting / database to insert and explain a transaction or change the details held within the record - this cannot be done within blockchain
3 - digital province removes the need for trust within a business and can remove the need for independent audits to be carried out which are only done at a point in time and are subject to interpretation - with digital provenance, the verification can be constant

1 Like
#3575

Homework on Provenance - Questions

  1. How does blockchain enable digital provenance?
    Because blockchain is decentralized this causes information to only be able to be added and not removed from the chain.
  2. Why doesn’t a normal database bring the same provenance?
    Normal databases are centralized and can be manipulated or be hidden, there is a need for trust in these databases
  3. Why is digital provenance such a great benefit to many businesses?
    the ability to verify your supplier instead of trust cuts down the need for third parties
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#3576

Homework on Provenance - Questions

  1. How does blockchain enable digital provenance?
    As it is a decentralised system, no trust is neded. No central authority or government/third party can control and change the data in it

  2. Why doesn’t a normal database bring the same provenance?
    BEcause uintil now we use a central system that can control and manipulate it

  3. Why is digital provenance such a great benefit to many businesses?
    When you eliminate the issue of trust, transaction/communication does not become an issue and it goes beyond borders and challenges that we once face.

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#3577

  1. Blockchain is a public ledger. The blockchain system enables digital provenance because all entries are stored in the database. No one are able to erase or delete information that’s already been added. This makes anyone capable to trace earlier transitions.

  2. The system remember what actually happened and not what’s claimed therefor the information can’t be modified.
    In normal databases digital provenance is not possible. Entries and transitions can be changed and modified by owners of the database. A normal database is centralized with someone in charge who can remove or edit information.

  3. Digital provenance offers transparency to businesses with makes them verifiable by clients. Instead of trust you can now verify and therefor a trustless enviorment. This will make you’re own business more private and one intermediator will be erased.

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#3578
  1. Blockchain enables digital provenance because transactions are written in the Blockchain (can’t be deleted) . And because many people have the same copy of bitcoin’s Blockchain, the network is able to verify if the information is true, for example if someone has the money they want to transact or not.
    2.because a normal database is centralized, which means of someone hacks into that database they can steal money from you, or erase your private data.
  2. Because it combines accounting and transactions data in one place.
1 Like
#3579

Provenance - Questions

  1. How does blockchain enable digital provenance?
    Immutable digital upto date real time records
  2. Why doesn’t a normal database bring the same provenance?
    Can be changed, records erased/edited/added. Large DB would be expensive in manpower/energy and security to name a few.
  3. Why is digital provenance such a great benefit to many businesses?
    Can be public or private, is trustless, records never lost.
1 Like
#3580

  1. Nothing can be erased or changed from the blockchain and every transaction can be easily traced, so instead of trusting the supplier you can simply verify it.

  2. In other Databases owned or ruled by governments, companies, etc records can be changed or deleted, so again you have to trust that whoever manages it for the autenticity of the data.

  3. It simplifies a lot the way you keep track of every transaction by merging the accounting and transactional layers into one, making it auditable in real time and eliminates the risk of loosing, or duplicating data.

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#3581
  1. Information can’t be removed from the blockchain and it’s available for everyone to audit.
  2. It can be altered, and there’s a lot of trust involved.
  3. Immutable ledger allows tracing of assets and resources to their origin. Brands won’t need to build trust but rather act responsible. Individuals can prove their ownership of intangible assets without middle men and trust.
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#3582

  1. Data cannot be altered, erased or copied since the change would be recognized in real-time by the users of the blockchain.

  2. Since Data can be erased / altered /copied easily without audit trail

  3. real-time auditing possible, trustless system, no intermediates needed

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#3583
  1. By creating an immutable decentralized public ledger (it can only be written to and nothing can be altered or deleted) that everyone with an internet connection can verify. Because of that there us no trust in a 3rd party needed. Only trust in code is needed…
  2. A normal database can be altered or deleted by its admins so it is neither immutable nor decentralized. One would need to trust the admins.
  3. Why is digital provenance such a great benefit to many businesses?
  4. Companies pay huge fees to consultancy and auditing firms essentially to build trust. They can save most of that money by using trust-less blockchain to tecnology.
1 Like
#3584

  1. Because any information entered can not be removed and since it is decentralized there can be no foul play.

  2. Because a normal database is centralized and therefore under someone’s control they can change it at will.

  3. Removes the need of traditional auditing and verifies the procedure from beginning to end without any mistakes.

1 Like
#3585

1. How does blockchain enable digital provenance?
Public blockchains such as Bitcoin are trustless due to their decentralized and immutable nature. This is not the case for all blockchains.
2. Why doesn’t a normal database bring the same provenance?
Normal databases are centralized and information may be manipulated unlike a blockchain which is composed of nodes and an immutable ledger.
3. Why is digital provenance such a great benefit to many businesses?
It enables business and their customers to verify (rather than trust) desires such as supply chain security and attributes.

2 Likes
#3586
  1. Blockchain technology records every transaction in it’s public database. The information in this database cannot be altered nor erased, only added onto. Therefore this will enable true digital provenance, as every transaction will be permanently recorded in it’s database and can be verified by the public.
  2. This true provenance enabled by blockchain technology can solve many problems that are caused by normal database. With the use of normal centralized databases, trust is involved. Consumers have to trust retailers that the ingredients of a product are what they claim, who in turn have to trust their suppliers that the ingredients are what they claim. With blockchain, this problem is moot. As all information and transactions are stored in this public ledger, there will be no more need to trust. You can verify it.
  3. Digital provenance will bring a lot of benefits to businesses, institutions and even states. Through blockchain technology that removes trust, there will not be a need to check the database, or receipts of their business. Which can easily be altered in a normal database. Another use case, this can be a great cure for corruption in many countries. As it eliminates the need to trust public servants, that they will truly distribute the tax money as it was meant to. With blockchain we can see exactly where our tax goes, and how it get’s distributed in a country.
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#3587

  1. Blockchain is a public ledger database network of connected nodes that are all verifying the content of the blockchain/database copy, using cryptography (hash function) to verify if the data to be added to the chain/database are real. Once data are confirmed and added to the database, cant be removed anymore. Because the ledger is public and decentralised, anyone at anytime can have a copy and check the content. Public nature of decentralisation combined with cryptography together guarantee the accuracy and provability of data. That way provenance is confirmed by all nodes which eliminates the “copy/paste” problem of internet 2 (before Bitcoin was invented).

  2. Normal database versus Blockchain is not even comparable. The decentralisation/cryptography concept of Blockchain removes the need of trust. Participates in the transactions can be 100% sure that the data are correct, without knowing or trusting each other. On the other hand a regular database heavily depends on trust. Every participant in regular database can compromise the data. Happening all the time in real World business. Auditing Agencies are an example of that lack of trust. In traditional economy we need some authorities/institutions that we trust, to tell us the truth about our business partners.

  3. It will change the way companies do business. In the old concept doing the transactions comes first and later companies do the bookkeeping or auditing. With blockchain doing transactions + bookkeeping + auditing is done at the same time. The data are verifiable and visible to anyone since inception (provenance), without the need of a trust to any company or institution. Generally speaking economy benefits by cutting costs and middlemen by reducing the need for accounting and auditing services. The data that we operate with are 100% correct and so the chance of a fraud based on blockchain data are pretty much down to zero as well.
    Examples, of how we can benefit by using blockchain to know the provenance, are: already mentioned financial/accounting data, production of organic food, following the ingredients in food products, following the origin of meat…IE Walmart with IBM is using blockchain to add transparency to the decentralised food supply ecosystem by digitising the food supply chain process.

1 Like
#3588

Homework on Provenance - Questions

  1. How does blockchain enable digital provenance?

Each transaction can be tracked in real time. There’s no need for local audits since these can be undertaken remotely/digitally. Also, there is full transparency because no transaction can be deleted from the blockchain and can be traced from any computer connected to the network.

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

In blockchain, the accounting layer and transactional layers are combined, whereas in the normal database they are separate. There’s lots of secrecy and lack of transparency due to this because supply chain processes cannot be traced as they can be traced in blockchain. As long as we’re dependent on normal databases, we need to trust that the information is accurate, whereas in blockchain we are no longer reliant on trust - we can verify the facts.

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

Businesses no longer need to be audited in their premises - instead the audits can be done in blockchain where all transactions and accounting processes are recorded.

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#3589

  1. Blockchain is able to track and verify all transactions without the need for a trusted third party.

  2. A normal database relies on some party to ensure provenance and that party cannot be guaranteed to be trustworthy.

  3. The great benefit is that every thing can be tracked automatically without the need for auditing etc.

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#3590
  1. Digital provenance is enabled by the blockchain’s data structure. Transactions (data) can only be added and not removed (traceability).Transactions are additionaly approved by a network of independent computers.
  2. In a centralized database data can be removed by an authority.
  3. It is a trust less system based on verifications.
1 Like
#3591

  1. How does blockchain enable digital provenance?
    Blockchain enables digital provenance as new blocks can only be added to the ‘public ledger’ and not changed. Nods verify each new block and any identified inconsistencies results in the proposed block being rejected.

  2. Why doesn’t a normal database bring the same provenance?
    A normal date base can be edited and thus relies on trust.

  3. Why is digital provenance such a great benefit to many businesses?
    It creates a trustless environment where all transactions can be openly audited.

1 Like