Homework on Provenance - Questions

[Santana]

How does blockchain enable digital provenance?
It uses blockchain to form a verifiable ledger of transaction that cannot be removed or altered. It can be easily audited in real time and cannot be lost if a single node or local network goes down because that ledger exists on a global network.

Why doesn’t a normal database bring the same provenance?
Centralized databases operate on system of trust that cannot be easily verifiable by the people in which it serves. Information can be changed, altered, or even lost if that database is lost in a closed network.

Why is digital provenance such a great benefit to many businesses?
Increase in efficiency, cuts costs, and also encourages honesty between all participants since all information is public. Transparency is key in order to achieve a trustless system.

[gkassaras]

• Lower Fraud Risks for Buyers
• No Risk of Inflation; Individuals Can Preserve Coins
• No Involvement of Any Third Party
• Opportunities Bitcoin opens in Several Business Verticals
• Asset for value storage
• Self hosted wallets

[AFOSHE1976]

1. How does blockchain enable digital provenance?
   Tracking financial financial transactions in real time. The financial process is more efficient.
2. Why doesn’t a normal database bring the same provenance?
   Because database is not connected, once is connected will be come tracked and will become trustly.
3. Why is digital provenance such a great benefit to many businesses?
   Varification for transactions and financials will be able to be track in just one place.

[Jbomb2020]

1. it enables it by instead of having to trust people, you are trusting a machine that gives you exact date and time things were sent from one party to another and cannot be played around with because with blockhchain you can only add to this system and not remove any steps in between, and it is made public for everyone to see so nothing can be hidden.
2. normal does not bring the save provenance because the audits are done by people and therefor many things can happen in between like for example someone could manipulate the system and change things around for people so they only see what they people would want. rather than the blockchain system where it is recorded automatically.
3. you no longer have to trust a person instead you have blockchain that automatically enters accounting layer and the transactional layer etc and anything that is recorded in the system is there forever for everyone to see including both parties of any transaction through the blockchain.
   also usually the accounting and transaction are separate so you have to do the work for both blockchain puts them both together for auditor to see.

[Jvbaez01]

1. How does blockchain enable digital provenance? blockchain keeps a digital record of all transaction data. No need to trust. the blockchain verifies data instead.

2. Why doesn’t a normal database bring the same provenance? because normal database keeps all transactions separate.

3. Why is digital provenance such a great benefit to many businesses? it saves time and money. all the data is already on the blockchain (which can not be altered )

[CryptoDad6TT]

1. Every transaction on blockchain is immutable. Therefore it can be verifiably traced in real-time, using math and science via the network of computers (aka ‘the Ledger’)

2. A normal database, even if it’s private, can be tampered with.

3. The trustless nature of block chain technology will encourage a spirit of meritocracy to the world goods and services and eliminate bad practice and fraud.

[henriku]

1. Being able to track transactions, real-time audit, via decentralized network of computers information written in the blockchain.
2. Normal database is mutable and centralized.
3. Removing the trust element from the equation. Elements and parties involved are clear and transparent.

[LamouchiM]

• Blockchain enable digital provenance by being open to the public, not allowing removal of data from it, and being all for verification and removing trust.

• Normal databases have central authorities controlling them, they can remove, add, and edit anything they want from the databases wherever they want. It is based on trust.

• It allows the verification of all information in the blockchain, and finding all the data in one place. The whole history is found intact and nothing has been removed from it.

[Furby]

1. All information is publicly available. It eliminates trusting businesses and allows you to verify it immediately instead.
2. Normal databases can be modified, deleted or corrupted. Having a public ledger distributed among a network of computers assures that the data remains constant and transparent.
3. Improves the efficiency of current processes such as financial audits, supply chain management, quality control and many other business functions that require trackability and transparency. You can build brand loyalty by showing your consumers, that you are transparent and not doing anything “under the table”.

[MBF-Lifestyle]

1:Blockchain enables digital provenance by being a ledger source of info that cannot be tampered with, so that the info in the blockchain ledger is verified

2:Normal databases are not as secured on multiple databases, therefore more hackable and manipulatable.

3:Digital provenance is of great benefit since it assures a businesses clients that the data is safe and sound meaning true

[MaxiRindle]

1. Been an open and decentralized ledger where any input can´t be erased or modified. That allows to track all the way back
   2.Because just ONE -person, company, organization- has the power to control (erase, modify, corrupt) this ledger.
2. Because you don´t need to trust. Just verify!

[markuz]

1. The block chain makes the ledger/data base function like a digital stone where you can add info but you can not delete and manipulate
2. A normal database is can be manipulated and susceptible to hacks and human errors.
3. Its is a great fit to any business because it provides accuracy and trustworthiness to the public and the consumer. It may also reduce manpower labor.

[AKotell]

Q1: How does blockchain enable digital provenance?

A: Blockchain enables digital provenance by allowing for each transaction to be tracked and audited in realtime.

Q2: Why doesn’t a normal database bring the same provenance?

A: A normal database cannot bring the same level of provenance as blockchain due to the auditing process and the accounting processes of a normal database not being conducted in unison, and in realtime. These processes are carried out separately, and long after the event/s have passed.

Q3: Why is digital provenance such a great benefit to many businesses?

A: Digital provenance is of such great benefit to many businesses because by having provenance in financial transactions one is able to make all financial processes so much more efficient.

[duckisays]

1. The blockchain enables digital provenance because all transactions are public on the network.

2. A normal database only tracks what is, not the pathway to get to the current point.

3. Businesses deal in trust. They have to accept the word of suppliers as true. With digital provenance a business can verify everything.

[JimKitzmiller]

1. How does blockchain enable digital provenance?

Blockchain records each step of a flow and the state of the items in each step. (How? Don’t you have to trust the person who is entering the data?)

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

You can make changes to a normal database.

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

You can record each step of a flow and know that the data remains the same over time.

[BKRtrader]

1. Blockchain can not be erased, once it goes into the block there is no deleting it, which then mean you can then verify what has happened or gone on.

2. Data bases can be changed, also there is a governance of money

3. There data cannot be changed is a human wanted to make themselves look good.

[sergeyb]

1. Record/transaction/action is permanents and is added but cannot be removed. Happening in real time

2. Centralized control allows for corruption, alteration, secrecy from users

3. Allows for trustless conduct. Accessible to anyone.

[Mihir23]

1. Blockchain technology reduces trust and verifies the key information which is stored on an immutable ledger. Additionally, since there is no authority to control or manipulate the data, it allows digital provenance.

2. A normal database is generally controlled by a company, organization or government. Having control over a database can reduce transparency between the user and authority because the user has no control over their data. Additionally, the authority has the ability to change or exploit the user’s data, allowing corruption to take place.

3. Consumers will be able to verify various information about products such as:

• what manufacturing materials were used,
• where did the materials come from,
• determine the quality of the product

[Dragotaa]

1. How does blockchain enable digital provenance?
   All transactions are like carved in stone, can’t be erased. There is a public ledger. It is verifiable
2. Why doesn’t a normal database bring the same provenance?
   A normal database exists on a public or private network, centralised. If the database is erased, data can’t be recovered.
   With blockchain this can’t happen.
3. Why is digital provenance such a great benefit to many businesses?
   Provenance provides auditing facilitation at any point in time due to transaction traceability.

[rajachemali]

1- Everything is permenently documented from the origin of any action taken up until the present moment, and the information cannot be manipulated/edited.

2- Because the blockchain infrastructure isn’t present in a normal database. So you need to see/do your research if you can trust or not.

3- Because it allows transparency and trsustlessness, and it avoids outsourcing firms to audit the business, and it also avoid complications and errors and dishonesties.