Homework on Provenance - Questions

Blockchain and Bitcoin 101
#3733
  1. Having a Secure, Decentralized Public Ledger, that Everybody has access to.
  2. Controlled and editable from one entity.
  3. Having a financial ledger recorded from the beginning with easy access and cannot obscure.
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#3734

  1. How does blockchain enable digital provenance?
    By being a decentralized technology, Blockchain allows all transactions in the network ever made to be tracked and traced back without having an option to remove, manipulate or change the database; making it trust less.

  2. Why doesn’t a normal database bring the same provenance?
    A normal database doesn’t bring the security and transparency needed since it can be manipulated and hacked and in must cases it is not public at all.

  3. Why is digital provenance such a great benefit to many businesses?
    It is a great benefit because it gives to their customers the transparency that many businesses are not willing to give, joining a public network; therefore, they will have more opportunities to grow.
    Also when it comes to the processes of verification, production and supplies it will become more efficient, avoiding errors that can lead to losing money.

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#3735

  1. Blockchain enables digital provenance by recording data in a distributed ledger that cannot be removed, and publicly available which allows for records of transactions to be available for verification.

  2. A normal database is centralised which means that it is reliant on a central entity such as a particular supplier or a bank - requiring trust from these institutions to complete the transaction. Unlike blockchain, normal databases are at risk of being tampered with or lost - data on a blockchain is stored at many nodes who verify these transactions, creating a trustless ecosystem - DONT trust - verify.

  3. Businesses can track the origin of their products on a supply chain, such as the ingredients of a particular food item. It eliminates the element of trust from other businesses and entities - as transactions are verified on the blockchain. Business can ensure that the goods they receive are as specified (ie no counterfeit goods or inaccurate contents)

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#3736

1 by making it decentralized therefore less trust. because no one controls it…
2 because it can be manipulated
3

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#3737
  1. Every transaction is immutable and public and hence can be traced to the source. The open ledger is public and hence enables digital provenance.
  2. Normal DB is private and the host institution can change or erase a transaction, unlike BlockChain technology.
  3. The digital provenance verifies the supply chain and audit in real-time saving a lot of time and cost.
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#3738
  1. You can only add data on the blockchain, not remove it. Since all the transactions are recorded forever you can see where each item on the blockchain is originally from.
  2. A normal database doesn’t provide the same type of provenance because you can add and remove data from them. While on a blockchain, you can add data but not remove them.
  3. Digital provenance is a great benefit for businesses because it will facilitate the tracking of all the transactions which will make auditing and accounting easier and effective.
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#3739
  1. Through an open source network we can trace and track back everything
  2. It is not transparent and we can not see all the transactions, etc
  3. It removes trust, and we get to see things for how they actually are
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#3740

1. How does blockchain enable digital provenance?
Blockchain enables digital provenance via its immutable, decentralized, public ledger properties. The analogy you used for this in your lesson was the “Viking writing stones” which can be written on, but not erased.

2. Why doesn’t a normal database bring the same provenance?
A normal database is centralized, mutable, and usually not public. The centralized nature of these types of databases means that there needs to be a. Trust that the entity is operating the database properly and b. The database can be hacked, tampered with, or shut down by governments. Because these databases are mutable, it can be changed at any time by whoever has the keys to do so. Additionally, The fact that these databases are not public means that there is no way for someone to verify that the records are correct.

3. Why is digital provenance such a great benefit to many businesses?
Digital provenance allows many benefits to businesses including Real-time audits, trustless supply chain management, and improved efficiency (because they no longer need third-party auditors and middlemen to physically be there.)

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#3741

How does blockchain enable digital provenance?
It is an immutable ledger. This means anyone can view its history with 100% certainty that nothing has been changed after the fact. Therefore it is reliable and verifiable.

Why doesn’t a normal database bring the same provenance?
A normal database is mutable and therefore subject to change without a trail of history. However, an event driven application could have an immutable event-store. Though this would still not have the same level of reliability because it can still be tempered with.

Why is digital provenance such a great benefit to many businesses?
It makes it possible to do automated auditing or analysing data without the need to go through all kinds of official documents for verification.

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#3742

I don’t understand where I’m supposed to post my answers. So I can only do it here
I see so many possible use cases for blockchain technology. Evidently, there are so many aspects of present day life in general, that a whole big industry of “alternative media” has been created, nurtured on the total lack f trust we have developed, whether we talk about the food we are sold, the stories we are told about world events, the people who are supposedly our upright leaders. In fact, I would say there are very few aspects where trust seems to be trustworthy. If all actions and transactions were verifiable, trust would return

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#3743

  1. Digital provenance is enabled by blockchain because blockchain realtime auditing technology that records information. It can also be thought of as a database where information can be added, but not taken away. On top of that, it is also a traceable “public ledger”, meaning that we all have access to the transactions being made on the block.

  2. In a normal database, information could be added but not verified by other nodes. A normal database might also not be public.

  3. Digital provenance could ensure brand integrity by publicly recording their supply chain ecosystem. Organizations can also be self-auditing in realtime due to the nature of blockchain being able to merge the accounting and transactional layers of a business and rendering it accessible.

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#3744

Each homework has its own thread here in the forum where to post your answers, the link to the thread is in the academy description of the assignment. :slight_smile:

#3745

There’s no need to audit. It makes recording transactions and receipts much easier and less work.

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#3746

  • How does blockchain enable digital provenance?
    By allowing suppliers for example, to document where every single product came from and what it’s made of without having to rely on trust of an auditor or someone else. In this way things are verified and not reliant on trust.

  • Why doesn’t a normal database bring the same provenance?
    Because it’s based on someone auditing it and therefore based on trusting someone to not be misrepresenting data.

  • Why is digital provenance such a great benefit to many businesses?
    Because it eliminates the need for relying on trusting auditors or another entity and instead relies on digital verification.

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#3747
  1. How does blockchain enable digital provenance?
    Blockchain enables digital provenance by capturing the transaction and the details in a single block.
  2. Why doesn’t a normal database bring the same provenance?
    A normal database is does not combine the transaction with the details.
  3. Why is digital provenance such a great benefit to many businesses?
    For tracing of a transaction and to provide proof that everyone can see.
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#3748

The question are at the top of the thread, you just reply to them. That’s how I did it at least.

#3749

  1. Blockchain enables digital provenance due to when stuff is added to the blockchain it cannot be removed. You also have validators that make this possible in the network of that blockchain.

  2. A normal database you can remove stuff

  3. It basically gives you the Trust that is needed and on the blockchain there are several validators making it not possible to cheat. it proves the origin of where it came from

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#3750

Homework on Provenance - Questions

1. How does blockchain enable digital provenance?
-Blockchain guarantees the record of each new transaction on the public ledger without possibility of abridgement (ideally). Thus if all transactions involved in a process such as all transactions from a bank account or from tax monies are recorded on a blockchain, the source or object of inflows and outflows respectively must be clearly identified.
2. Why doesn’t a normal database bring the same provenance?
A normal database is centralised and there is no public ledger that is transparently verified by many nodes.
3. Why is digital provenance such a great benefit to many businesses?
It eliminates the problem of needing to trust that a third party will act honestly in provision of sometimes mission-critical services and provides recourse via a data trail if any inappropriate actions are performed.

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#3751

  1. Guaranteed source of truth. Entries can only be added to the blockchain not removed. Blockchain tracks all transactions and allows for “Trustlessness”

  2. Entries can be subtracted from a DB. DB can be corrupted

  3. Does not require special agreements or contracts between parties in order to transact. Allows for trustless transactions

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#3752
  1. How does blockchain enable digital provenance? It is basically a public ledger that allows all parties to see what is happening. It is also decentralized and requires agreement before any transactions are approved.
  2. Why doesn’t a normal database bring the same provenance? A normal database you are allowed to delete information on blockchain you can only write to the ledger.
  3. Why is digital provenance such a great benefit to many businesses? It creates transparency and also less of a burden for the business since you don’t need trust just verification.
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