Homework on Provenance - Questions

[GIFT_L3C]

1. Accounts and transactions are instantly auditable on a permanent digital ledger.
2. Normal databases are not trustless. They require a third party entity to supply accurate data.
3. Digital provenance allows, instantaneous, independent, and inexpensive, shareable verification and reliability, for often mission critical business functions.

[Patrik_Forsberg]

[quote=“ivan, post:1, topic:8423”]

• How does blockchain enable digital provenance?
  By checking all transaction histories on the open ledger.
• Why doesn’t a normal database bring the same provenance?
  A normal database do not share the same information and is controlled by one party.
• Why is digital provenance such a great benefit to many businesses?
  [/quote] It removes trust and replaces it with facts.

[WheyCup]

1. How does blockchain enable digital provenance?
The chronology of custody/ownership (provenance) is kept record of in a decentralized, public ledger, where data cannot be removed.

2. Why doesn’t a normal database bring the same provenance?
A normal database is centralized.

3. Why is digital provenance such a great benefit to many businesses?
Verification, it is like tracking a package, but with more data available about the package as it is shipped. For example it will allow for verification that food/medicines/organ transplants are kept at a certain temperature, as required.

[bit_lazy]

1. Blockchain enables digital provenance through its architecture in which transactions can be added but not removed (immutability). The ledger that consists of blocks containing transactions are added in chronological order which makes it easy to trace certain data/coins back in time.

2. A normal database does not have the decentralized character of a public blockchain (trustless).
   A central party has authority over a normal database, giving them the possibility of changing the history of transactions.

3. Traditional business interactions rely much on trust between the businesses. Businesses can often times claim to have done something when they in reality have not. Blockchain technology makes trust unnecessary due to the possibility of verification.
   Don’t trust. Verify!

[KirkBradleyRose]

@ivan

Homework on Provenance - Questions

1. How does blockchain enable digital provenance?
2. Why doesn’t a normal database bring the same provenance?
3. Why is digital provenance such a great benefit to many businesses?

1. Blockchain enables provenance by being a decentralized database that can only be added to and nothing can be deleted. And nodes must agree before something like a transaction can be added.

2. A normal database is centralized and the data can be added, deleted, hacked, or manipulated for the gain of a few people, and the loss of many people.

3. Putting trust in anything these days is risky. Provenance takes the trust needed in a business from the corporation or the individual to math. And math doesn’t lie. 2+2 always equals 4.

[mandorlino]

How does blockchain enable digital provenance?
Blockhain enables digital provenance as its immutability and public access foster transparency and honesty. Also, it makes it easier to audit through automatization.

Why doesn’t a normal database bring the same provenance?
Normal databases, on the other hand, are centralized and therefore more susceptible to manipulation and opaqueness.

Why is digital provenance such a great benefit to many businesses?
There is an increasing demand for it. Also, it substitutes trust with verification.

[HeadTrauma911]

Provenance

1. How does blockchain enable digital provenance?
   Blockchain enables digital provenance by having a network of computers confirm a transaction with a public ledger. These transactions cannot be removed once added and all computers must agree to adding the transaction.
2. Why doesn’t a normal database bring the same provenance?
   A normal database doesnt bring the same provenance because the network is centralized by a
   single entity. This type of database can be manipulated, changed, or modified without any verification
3. Why is digital provenance such a great benefit to many businesses?
   Digital provenance is a great benefit to businesses because it creates a supply chain of complete
   transparency with transactions that can be 100% verified.

[Lawrence]

1. Via its public ledger. Each copy of the ledger audits and verifies every transaction on the blockchain. Information can only be added to the blockchain, not removed. This ensures that no information can be removed, altered or manipulated which provides a transparent, trustless audit of the network.

2. Because a normal database relies on a centralised system which is vulnerable to attack or manipulation, a public ledger eliminates this risk. A normal database is constrained to reliance on a centralised network of information, this lacks the transparency, verifiability and trustless nature of a blockchain.

3. Because is allows businesses and customers to verify as opposed to just trusting. The public nature of blockchain means that auditing of information, assets, property and processes (supply chains) can be done holistically.

[inahan]

How does blockchain enable digital provenance?
By using multiple immutable ledgers (with complete history), making the data trustless and decentralized.

Why doesn’t a normal database bring the same provenance?
Normal database cointains single record of truth that can be altered by central authority.
Also data doesn’t need to be time sequenced.

Why is digital provenance such a great benefit to many businesses?
It can be a great benefit because it can grant integrity of the database (creating a fake database entry is almost impossible).
Finance industry is great example where you can benefit from digital provenance.

[hnunez008]

1. Immutable, can’t be erased.

2. Centralized, companies can manipulate data.

3. Transparency, can be verified and trusted.

[KungFuKAR3N]

1. How does blockchain enable digital provenance?

ANSWER
Blockchains are designed to be immutable, so once it’s in the blockchain it cannot change. This makes digital transactions more efficient because you are able to track/audit something in real-time and remove trust.

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

ANSWER
There is a lot of trust involved in a normal database. You cannot trace/track back information because it can be altered or deleted.

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

ANSWER
Provenance allows businesses to verify information removing the trust factor. You can verify transactions. Eg. supply chain of food, transactions, where clothes come from, the original owner of a piece of artwork, etc. “Don’t trust - verify”

[Aiisnotbad]

1. BC being an immutable database, it could serve as a shared record list. This feature of the BC enables the tracking of things and their “provenance”.

2. A normal database would be able to track provenance informations(postal service do it everyday). The problem is that it could be modified by the administrator of the database, thus causing a trust issue. Also, the reliability of a centralized database is questionable, as a normal database must be maintained by some sort of organisation. With a BC, this maintenance load is distributed.

3. In one word : trust. With digital provenance and BC we can in a way decouple data storage from the data source/author/owner. That way, a business knows that provenance information given by a partner is technically trustable.

[deanb3]

• How does blockchain enable digital provenance?
  By making all interactions with the blockchain decentralized and duplicated on multiple machines.
• Why doesn’t a normal database bring the same provenance?
  A normal database is controlled by one company or entity that has access to that database.
• Why is digital provenance such a great benefit to many businesses?
  It removes the requirement to trust so much of what is told or given to the business by vendors or customers or other parties associated with the business. All can be verified if blockchains are involved.

[Bear_Sanity]

1. All transactions are visible on a public database that is copied to many machines, so anyone can verify that information is correct.

2. Normal databases are centralized and can be changed by whoever is in control of said database.

3. Business’ are able to track items they receive from their suppliers, so they know exactly what they’re getting and exactly where it came from

[m_tag8]

1. Blockchain is able to track all transactions and keep a record of them within the blockchain database.
2. A normal database does not bring the same provenance because you have to trust that the normal database can execute transactions and because a blockchain database can perform real-time auditing.
3. Digital provenance is a great benefit to businesses because of the blockchain’s ability to keep track of many details. For example, with a blockchain system, it will be more efficient to keep track of resources.

[Luke]

• How does blockchain enable digital provenance?
  The blockchain enables digital provenance by constructing a decentralized immutable ledger, where data can only be added and not removed.

• Why doesn’t a normal database bring the same provenance?
  Databases lack consensus and can be altered. The blockchain provides a nodal network, where the complete database of the entire network is contained within every node.

• Why is digital provenance such a great benefit to many businesses?
  The benefit lies in the fact that the transaction layer and the accounting layer become one and the same. Creating an efficient system that doesn’t require trust, making accounting and compliance redundant.

[danny13]

1. Blockchain enables digital provenance by tracking all transactions in real time.

2. A normal database doesn’t bring the same provenance because blockchain tracks and logs all transactions.

3 It is good because it makes every transaction verifiable and gives real time access to information.

[KJR]

1. Blockchain allows for verification of all provenance through its ability to audit all transactions in real time where information can only be added and not retrieved .
2. A normal database allows for for different rules. This provenance can be traced by the blockchain which has mutliple ledgers to verify all provenance.
3. It allows humans to track all steps of finance and other businesses to be fully transparent in all steps of the supply process.

[Damagin]

@ivan

Homework on Provenance - Questions

1. How does blockchain enable digital provenance?
2. Why doesn’t a normal database bring the same provenance?
3. Why is digital provenance such a great benefit to many businesses?

1. Blockchain enables digital provenance by eliminating the gap between transactions and auditing those transactions. It eliminates the need for trust.
2. A normal database the layers of transaction and verifying those transactions are separate and because the process requires trust .
3. The blockchain will create a public ledger scenario which would be trustless. Businesses could operate in a trustless space.

[Ivan_Zg]

1. How does blockchain enable digital provenance?
   Transactions data saved and stored on decentralized ledgers with “public” access.
2. Why doesn’t a normal database bring the same provenance?
   Because it is “centralized”, lacking transparency feature storage system. Meaning, data stored on “controlled” servers with possibility of manipulation or access denial.
3. Why is digital provenance such a great benefit to many businesses?
   It speeds up a verification process. But in order to remove “trust” from any transaction, I think human decision making must be removed as well. The “gut filling” might be on the way, despite the verification.