Provenance HW: 1. Blockchain enables digi provenance by keeping track of and allowing for complete traceability, hence tranparency of all transactions conducted on that particular network. 2. A normal or traditional non-blockchain database files/transactions can be manipulated/falsified. 3. Businesses need to have accurate records of all transactions for quality assurance purposes as well as for maximazation of efficiencies.
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The Blockchain provides a public Ledger that cannot be changed and only added to the database(Stone). This allows you to track everything.
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A normal data base requires you to trust that the Data is good. That leaves you open to hacking.
3.Digital provenance provides a business with the ability track everything. Everything is verified. Trustless
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Blockchain is immutable making every transaction based on mathematical verification and not a trust-based system. Hence tracking of transactions is stored in every computer that has this digital ledger, making the verification process fool proof.
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Normal databases can be hacked, crashed and erased. Also normal databases are usually monitored and tracked by humans which are subject to error (trust-based). Once a database is on the blockchain, it’s impossible to cheat the verification process.
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Dig provenance is beneficial to many businesses because it gives easy traceability, helps with transaction verification and real-time audit. Not to mention, verification and not trust-based work. Perhaps also enhances or reduces the verification process to mere minutes.
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Homework on Provenance - Questions
- How does blockchain enable digital provenance?
1A: Blockchain enables digital provenance through being an immutable public ledger (database). This ledger is held on a network of computers in which data can be added to, but not deleted or changed. - Why doesn’t a normal database bring the same provenance?
2A: A normal database doesn’t bring the same level of provenance as data can be easily changed or deleted by multiple parties. Blockchain transactions have to be verified by a network of computers before adding new data that cannot be deleted of changed. - Why is digital provenance such a great benefit to many businesses?
3A. Digital provenance is a great benefit to many businesses in order to accurately record keep the moving of vast amounts of data or physical products accurately, ensuring there are no errors along the way (whether it be money, medical supplies or food ingredients coming from the correct farm).
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How does blockchain enable digital provenance?
Distributed databases that are replicated at every node which allow additions but no deletions provides a great means for transparency. This is the essence of a definition for provenance, “the history of ownership.” This is especially true if you expand on the idea of ownership as including changes to the object, transactions. -
Why doesn’t a normal database bring the same provenance?
From the initial conception of databases, we relied on a central authority. These databases advanced to include a mirroring so the loss of the main or central database would not result in a complete system failure. Normal databases do not go much beyond a central authority with a potential hot swap type backup via a mirror or copy of the original. Still, in this case, the transactions had to pass though a single, maybe dual pipe. Distributed databases, where each node that is within the system, have a copy of the database that are synchronized and immutable, beyond additions. This leads to the ability to claim provenance. This ability is nearly non-existent in a centralized database that could be offline if the site and backup site are down. Global distribution prevents this downtime/corruption as much as is possible on a planet. -
Why is digital provenance such a great benefit to many businesses?
There are many stories of the keeper of the keys to the kingdom being corrupt. One person or even a small group of people, when they hold all the keys,are able to obfuscate the data and any corruptible influence they may have over the data. In the previous case it may take a long time, sometime years, to discover the fraud or even unintentional errors. Digital provenance with the many points noted in our benefits of block chain answers allows the business to have confidence from real time verification in the validity of it’s processes and data. As Ivan noted “Don’t trust, verify.” This is an inherent part of digital provenance businesses engaged with such a data structure.
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- Bitcoin enables digital provenance by keeping track of all transactions publically and by not allowing for removal on the ledger. This way everything is stated along the way of the supply chain, plus no changes or cheats can be done.
2.A normal database does allow changes or removals, therefore in the name of “saving space” or “simplicity” one could erase or modify tracks at will.
3.A person or company looking to buy or transact with another can very easily check the authenticity of the other party’s claims, removing trust and reducing the costs and time associated with it. Also auto-tracking of transactions is always useful in case the need to check those arises.
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1.Because the Blokchain is a public ledger we are able to track transactions or the history of transactions. Transactions are auditable.
2.Its is centralised, it can be altered and you have to put a lot of trust into normal databases.
3.Businesses can access real time verified history of transactions. Its is trustless
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Homework on Provenance - Questions
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How does blockchain enable digital provenance?
Blockchain enables digital provenance as it provides real time transactions, it is trustless, it is decentralised and it can not be changed or tampered with. -
Why doesn’t a normal database bring the same provenance?
A normal data base is not decentralised
It can be changed, modified and tampered with by the owner or governing body or organisation
It is not trustless
It is typically not a public ledger open for all to view and verify -
Why is digital provenance such a great benefit to many businesses?
As it can be publicly viewed and verified
It can put a stop to counterfeit products as all products could be verified
It can follow the entire process providing additional knowledge and power to both the business and consumers
Items can not be manipulated, removed and removes fraud
Streamlines the processes
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1 How does blockchain enable digital provenance?
Through, permanent records and publicly shared information with decentralized ownership.
2 Why doesn’t a normal database bring the same provenance?
Centralized ownership of stored records that make it possible to change or delete previously stored records.
3 Why is digital provenance such a great benefit to many businesses?
It is a perfect way to prove that the business brand is true and legit. Thru prove the origin of all the parts and services that the company delivers as services to its customers.
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Homework on Provenance - Questions
- How does blockchain enable digital provenance?
–> it is enabled by storing all the gathered information of the different states at different points of time. All the information of the certain product is stored decentralized without possibility of interference. - Why doesn’t a normal database bring the same provenance?
–> a normal database is usually centralized and thus can be modified or removed by the owner of the database - Why is digital provenance such a great benefit to many businesses?
–> it replaces trust with verification. The less possibility of interference, the more accuracy the data have. So less manual auditioning and reliability on external factors is necessary.
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Provenance - Homework
- How does blockchain enable digital provenance?
- Create a Ledger by declaring a transactional “frame of reference” (transaction ID and order) and establishing an initial value or transaction (seed) within it.
- By declaring all future transactions are modifications or additions to this seed.
- Declaring all valid subsequent transactions are linked serially back to the establishment (seed) transaction.
- Some mechanism to continuously ensure the ledger is uncorrupted… a form of “proof” it is valid, for example:
— By compiling, publishing and exposing the ledger, such that distributed copies of it can be compared, with a boolean result of that comparison announced by the node that compared it (a resultant validation or rejection).
— By declaring a ledger validation agreement amongst a majority (declared upon seed creation, e.g. >50%, =>2/3, etc.) of comparing nodes to be THE correct ledger of transactions.
- Why doesn’t a normal database bring the same provenance?
- What is “normal”?
- a normal database is not specifically immutable, nor is it necessarily restricted to an immutable sequential transactional history.
- Why is digital provenance such a great benefit to many businesses?
- An immutable and parsable transactional history provides a full and authentic audit trail.
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The blockchain functions like a database where transactions can only be added and not deleted. That way we always have the entire history of transactions. Additionally, the blockchain is distributed through a network which means that whenever there is a node with a differing transaction history, we know something is wrong and can exclude that node.
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A normal database is mutable, meaning it’s always possible to change its contents and is thus easily falsifiable - you rely entirely on trusting the people managing the database. A traditional database is also a single point of failure. If you remove the hardware containing the database all data is lost.
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Digital provenance removes the need for purely trust-based interactions and third-party interference. Anything on the blockchain can be immediately audited and traced.
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How does blockchain enable digital provenance?
Blockchain enable digital provenance by being able to trace all data input related to an item. We can track and confirm all stages an items has pass on a supply chain. It is trustless. -
Why doesn’t a normal database bring the same provenance?
Because its centralised, it can be changed or edit, its not able to track the data in a trustfull manner. -
Why is digital provenance such a great benefit to many businesses?
Because it can track the data, improve quality control, audit and item on the blockchain offering reliable and excellent product to the consumer and the company.
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1: Blockchain enables digital provenance by tracking data as a ledger. Data can’t be removed or alterated and is a public ledger. Like a digital Stone.
2: Because normal data base is centralized. The infomation can be alterated or hacked.
- Provides security, removes need for trust and have a hugh benefits at tracking all.
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By being able only to add data and not remove (immutability), in this way no data from the transactions can be lost and its public for everyone, so you can track the state of the transaction on any part of the supply chain.
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Because it depends on trust and not objective non-deletable public information. The data is held by third parties, such as banks and governments, information is not easy to access and its not public.
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Because they would spend less on auditing and accounting, since digital provenance includes the information already.
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How does blockchain enable digital provenance?
By using the public ledger and real time auditing to provide a system that does not require trust, and instead uses math to verify data. -
Why doesn’t a normal database bring the same provenance?
Separation between the accounting and transaction layers ensures enough friction and doubt that it can never bring the same provenance that blockchains immutable public ledger provides. -
Why is digital provenance such a great benefit to many businesses?
Verifies the chain of custody, condition and entire tracking of supply chains!
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- If true data is entered into a blockchain then it is placed onto a public ledger that is irrefutable, immutable and verifiable by anyone who so wishes to do so. Thus enabling digital provenance.
- A normal database is typically controlled by an “owner” who may only allow access by a select few to prevent data corruption. The data may be “adjusted” at will which may go undetected due to lack of auditing. So basically it is refutable, mutable and possibly unverifiable reducing its provenance.
- Digital provenance can combine the transaction and its associated accounting reducing errors and costs. Also it may be easier to verify the inputs to the business from suppliers and outputs from the business to the customer creating a transparent chain of custody increasing product or service value.
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As blockchain is immutable, it provides a full ledger of transactions dating back to their origin (provenance). This ledger is stored in the network and can be publicly accessed to verify the authenticity of an audit.
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In a normal database, data can be lost if the database is compromised (centralized). whereas in a blockchain, the transaction ledger provides a historical trail stored in, and authenticated by the network at large (decentralized)
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digital provenance provides an accurate and complete audit of transaction history that can be accessed in real-time, without the help of a third party to synthesize the data.
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This allows no one organization or political party to control this currency. Wen a transaction is written on the digital stone, it can be verified and traced. This allows for transparency with all movement in the blockchain.
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A normal database can more easily be contaminated and hacked. This is more difficult in the blockchain sequence.
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Digital provenance is a great advantage with business usage because all transactions and movement of currency can be verified and traced. This increases trust from a customer perspective and increased proficiency and efficiency for the company.
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How does blockchain enable digital provenance?
Blockchain works off of a ledger and enables real time auditing of any type of digital transactions -
Why doesn’t a normal database bring the same provenance?
Normal databases are based on trust however with blockchain ledgers, they are trustless because all of the information is available on the blockchain ledger -
Why is digital provenance such a great benefit to many businesses?
Current accounting practices are based on audits which take a long time, however with digital provenance you can provide real time audits. Also, digital provenance extends outside of cryptocurrency as well and can be used to trace your “ingredients” and you can verify yourself what is being supplied or from where it is being supplied
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