Homework on Provenance - Questions

Blockchain and Bitcoin 101
#384

How does blockchain enable digital provenance?
Blockchain provides an immutable ledger of transactions, every transaction can be traced to it’s origin.

Why doesn’t a normal database bring the same provenance?
Because a normal database can be changed or tampered/manipulated. That is because someone is in charge of a centralized database.

Why is digital provenance such a great benefit to many businesses?
Because you don’t have to trust different parties, it’s trustless.
“Don’t Trust - Verify”

#385

Homework on Provenance - Questions

  1. How does blockchain enable digital provenance?

It does not allow any1 to delete or remove information from itself. Meaning no one can make a change in the blockchain without some1 noticing it and therefore approving the transaction made. If the transaction made on the blockchain is invalid or say fraud it will be ignored by every1 else on the ledger. ~ The viking stone

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

I guess for the same reason I described in the 1st question. A normal database can be edited by anyone and even if it is not editable, a normal database won’t be connected with every single user in a way that before information is added on that database, every single one of the users will be checking if the information You want to add to the blockchain is correct and true.

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

Key is audits. Digital provenance inhibits proof of transaction history in it self. Which means company’s do not need accountants who save and count every cheque of every purchase. Therefore tax problems cease to exist. And since every single transaction from the very beginning of blockhain is there to stay, company’s can follow through there past transactions so that analyst can make some conclusions and make plans for the future investments.

#386

1.By keeping the record on an imutable untinkerable ledger that is public.
2. becuase it is not really secure it can be corrupted.
3.Customers can see for themselves a quality and know it is genuine.

#387
  1. All transaction data is available in the complete chain of blocks. Recorded transactions cannot be changed.
  2. Normal database has access control which can lockout selected or all parties from one time to another. Operator or users with write permission can change recorded transaction data.
  3. Businesses can verify the transaction data instead of just trusting another party’s assurance that they are correct.
#388
  1. Blockchain enables digital provenance, by alleviating the need to trust someone, rather it provides a globally distributed network which allows the public to not have to trust anyone by verifying the transactions themselves.
  2. In a normal database the control of the data is centralized, this allows for verification to be difficult as that centralized entity can manipulate the data without having a decentralized network of nodes validating the transactions.
  3. Businesses can now rely on this provenance to track the progress of their integrated services and or products, such as validating their supply chains progress and quality as it provides real-time auditing benefits.
#389
  1. By making every transaction publicly verifiable and unchangeable on the blockchain.
  2. Because it is centralized and therefore much more susceptible to hacking and having information changed or removed.
  3. It can provide proof of authenticity and proof of source.
#390

  1. By providing database of all transaction

  2. In traditional database you can add and remove transactions

  3. Because Accounting and transactions are together which can eliminate Auditor function

#391

A blockchain ledger records each transaction and it can not be removed.

A normal database can have entries removed, edited, and can not be verified that they happened in real time.

With digital provenance, auditing happens in real time because the transactions on the ledger are verified by the network.

#392

  1. Block chain uses math and scientific methods to verify, in real time, every transaction enabling all users the ability to operate without needing to trust a centralised entity therefore greatly increasing provenance in the system.

  2. A traditional data base is usually compiled and stored by centralised entities, i.e. bank, government, corporation etc…hence they can become biased in their operating procedures to increase market share, public opinion, profits etc…therefore greatly effecting the level of providence in that system.

  3. Digital providence has myriad advantages including greater efficiencies, 100% verifiable input data, and reduced systemic corruption between businesses and the public.

:slight_smile:

#393
  1. How does blockchain enable digital provenance?

the data is set into blockchain, cannot be edited/removed, it is public and
accessible at any time

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

data can be edited/changed/removed, its not directly public and accessible
via 3rd parties

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

you know that data cannot be removed/changed/manipulated
therefore doesnt need to be trusted but verified instead

#394

  1. Blockchain enables digital provenance acting as publicaly open
    ledger which insures transparency, and easier auditing of the database.

  2. Normal databases are usually centralized, easy to modify,
    change the data, while you can’t remove the data from blockchain.

  3. It benefits business greatly in efficiency, in means of easier
    tracking of the whole supply chain.

#395

1.How does the block chain enable digital provenance?

By recording data (transactions) that can no longer be changed.

2.Why does a normal database not provide the same provenance?

Because you are controlled by a central unit, a normal database, a transaction can be removed or erased.

3.Why is digital provenance such a great advantage for many companies?

provides the possibility of real-time auditing and accurate tracability.

#396

  1. How does blockchain enable digital provenance?
    All data on the blockchain is recorded in real time and cannot be changed or removed. This data can be verified by anyone at any time.

  2. Why doesn’t a normal database bring the same provenance?
    A normal database is managed by a centralised organisation and can be modified or data can get lost .

  3. Why is digital provenance such a great benefit to many businesses?
    Because verification is possible in real-time and no trust is required.

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#397
  1. By allowing all transactions to be publicly tracked and verified.
  2. because a normal database doesn’t have the blockchain technology of verifying the transaction. And its not public.
  3. You can use it to make sure your products are legit. For example, food contains the correct ingredients.
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#398
  1. Blockchain enables digital provenance because it allows tracking and auditing every transaction in real time. Also, there is no need for trust in any authority, verification can be done instead.
  2. In a normal database data is removable and managed by a central authority, which is different from blockchain.
  3. Digital provenance is a great benefit for businesses, because it removes a need for auditing and is based on trust less verification and tracking of everything.
#399
  1. Because once its data is inpinputted on to the blockchain it can never be removed or changed creating trustless confirmations of data verifiable with math.
  2. Because it’s data can be changed after the fact Creating a system that is dependent upon the integrity of humans.
  3. It creates ways to confirm data at any time anywhere ensuring accuracy without depending on trust. Such as with audits and raw materials.
#400
  1. Blockchain allows the digital place of origin or earliest known history of an asset.It combines transaction and accounting to allow verification or audit-ability.
  2. Although a normal database can also be set to only do inserts and emulate transaction changes to a digital asset , its still fails due to the infrequent or no backups so in case of a database crash not all data can be recovered. It is typically centralised and typically provides a non public access to the digital asset
    3.It provides audit-ability and verification removing the previous trust requirement
#401

  1. How does blockchain enable digital provenance?
    By decentralising the stored data and make it “public” . So it can be traced, verified and all changes are visible /traceable. And you can’t remove data

  2. Why doesn’t a normal database bring the same provenance?
    Is centralised, does not need to e public in order to work. You need to trust the creators/owners and you can’t verify/trace the data .

  3. Why is digital provenance such a great benefit to many businesses?
    traceable (but maybe some businesses do not want that). t’s quick because the transaction layer and accounting layer are in one package. Realtime auditing.

#402
  1. How does blockchain enable digital provenance?
    It enables digital provenance by maintaining a public string of digital transactions, unable to be modified by sequence or amount, by an unalterable cryptographic code.
  2. Why doesn’t a normal database bring the same provenance?
    Because the order or amounts can be changed and still yield the same end results, or lead back to a erroneous genesis block.
  3. Why is digital provenance such a great benefit to many businesses?
    Because it is verified by a public ledger that is immutible and permanent which builds trust among the users.
#403

1 Blockchain is a public ledger were you can add data but you cannot remove data. provenance brings so much value in every transaction because you can track back every transaction and verify it.

2 in a normal database, data can be hacked, removed or lost and it’s based on trust because it’s not easy to track back a transaction to verify.

3 with digital provenance you can verify all transactions, no trust is needed