Homework on Provenance - Questions

Blockchain and Bitcoin 101
#4115

  1. trough its immutability

  2. data is editable

  3. Trac and trace, remove trust, live auditing

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#4116
  1. through its immutability
  2. because it relies too much on trust
  3. because it shows everything you need to know about the product e.g where it came from, the different countries it has travelled threw.
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#4117
  1. How does blockchain enable digital provenance?
    Dont trust - verify. Without the need to trust the manufacturer of your food you can verify the provenance of all ingredients in the blockchain. Without blockchain the provenance is very opaque. It is decentralized, you can only add, not remove (no way to alter data).
  2. Why doesn’t a normal database bring the same provenance?
    Because you need to trust them, that the data is correct/was not altered. Blockchain removes trust, inserts verification possibilities. Normal databases are centralized and can be controlled by authorities - blockchain is decentralized, therefore not controlled by anyone specific.
  3. Why is digital provenance such a great benefit to many businesses?
    It provides complete transparency to all involved parties. You can verify if your supplier “tells the truth” (about the provenance of his ingredients). This can boost customer satisfaction, because you can be certain, that this ingredient and this ingredient comes f.e. not from a factory which uses child-labour.
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#4118
  1. How does blockchain enable digital provenance?
  • Because the ledger records every transaction on multiple nodes. It acts as both a record of accountability and transactions. So it can track to the origin of any particular quantifiable object to its origin.
  1. Why doesn’t a normal database bring the same provenance?
  • Mostly because databases are typically centralized and can be manipulated by whoever is in rightful ownership. Not just anyone can access the database to confirm its validity.
  1. Why is digital provenance such a great benefit to many businesses?
  • More efficient and gives more validity to what they are doing. Understand thier data more correctly and accurately. As well as have minimal overhead by accounting departments and audits.
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#4119

create a trust in transction

#4120

  1. Because blockchain is decentralized and open/public ledger and every transaction is recorded for good and visible by everyone without the possibility to change it once its done.

  2. Normal database can be changed, erased or if its centralised it can be easily influenced by the governing body.

  3. Digital provenance allow us to remove trust from the equation

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#4121

Written in stone cannot be altered

#4122

Not as trustworthy due diil

#4123

Not as trustworthy can be doctored always check them out

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#4124

  1. Blockchain technology records the history of every transaction through a trustless public ledger. This information can only ever be added too, never erased.

  2. A “normal” database isn’t decentralised liked the blockchain and is controlled and maintained by a centralised authority. This means that information can potentially be removed or erased much easier through a hack or a crash.

  3. A major slogan in the blockchain community is “Don’t trust, verify!”. The digital provenance that the blockchain provides takes trust out of the equation and verifies the truth of all the previous information in the ledger.

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#4125

  1. Blockchain enables digital provenance by continously verifying transactions in a trustless manner. It will eventually make it unnecessary for manual audits.

  2. A normal database does not bring the same provenance because it is not able to connect with other computers to continually verify transactions. It is not built for that purpose.

  3. It is a great benefit because in the long run, it can end up being cost effective. It ensures that things are done correctly and it also removes the chances of human error.

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#4126

  1. With blockchain data that in once put into the network, can never be destroyed or tempered with. And with a public ledger everybody can check it themselves, they don’t need to turst somebody. Blockchain is trustless.

  2. In a normal database, data can be manipulated, without leaving a trace (if done correctly). Database itself does only store data, but it doesn’t provide any trust. Also databases can be redundant, in a blockchain all the data is store in one place (virtually) and it secured by being stored decentralized.

  3. Processes can be traced easier. If you combine your business with blockchain and smart contracts, a lot of money can be saved (less cost on employees)

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#4127
  1. The blockchain is an open/ public ledger where one can only “add” a transaction and every transaction can be tracked and traced.
  2. Because it is centralized, can be edited and so is based on trust not verification.
  3. Because it is open/ public, verified, has real time auditing and is set in stone which can also lower costs and save valuable time for businesses.
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#4129

Hi everybody i’m back in school after 20+ years. Here’s my first homework :slight_smile:
Any correction or advice welcome.

  1. By documenting all steps in a process on the blockchain, which can’t be deleted or edited

  2. Because it would not be trustless

  3. It can save money/work due to efficiency. However, an even larger benefit probably is that everybody (clients, shareholders, employees, authorities, etc) can trust the system (because it is trustless)

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#4130

  1. Why is digital provenance such a great benefit to many businesses? Because the data cannot be modified after it is created, making it an ‘Immutable Object’.

  2. Why doesn’t a normal database bring the same provenance? You can amend and remove data which can cause corruptible data which in turn can be expensive and cause delays.

  3. Why is digital provenance such a great benefit to many businesses? Because it shows full transparency to their product in a trust less way.

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#4131
  • How does blockchain enable digital provenance?

It’s immutable digital real time record!

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

It is corruptable, expensive and often delayed

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

It is trustless, fast fast fast… with private and public access

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#4132

1 blockchain allows you to trace back as far back as possible allowing real time auditing and no fruadulent changes because its on a public ledger and not centralised
2 because its centralized (bent) can be manipulated to suit if database is lost its gone for good blockchain this wouldn’t happen its written in stone basically
3 real time auditing saving time and money no trust needed just verification making the financial process far more efficient

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#4133

1- Digital provenance is enable when a transaction is added to the blockchain and approved by a network of computers that confirme and verify the trustworthy of that transaction. Then is added to a public ledger where everyone can see.

2- Normal database have a problem that you have to trust the third party (people) to verify that every transaction is true and correct. That doesn’t happen in the blockchain because is all done by code

3- For many businesses and consumers is a great improvement because you don’t need to trust, it can be verified that the product that was order is accordingly with all the specifications

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#4134

  1. Blockchain enables digital provenance by storing all transactions on a network and making them public for all to see. The data on a Blockchain is ‘one-way’. data can be added however it cannot be removed.

  2. A normal database does not bring the same provenance as they are often private and controlled by a middleman/Company. As a result the average person cannot view all transactions and has no control over verification.

  3. Digital provenance is a great benefit to businesses as it can provide real time auditing therefore reducing the time/money spent on looking after company accounts and employing an accountant etc.

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#4135
  1. How does blockchain enable digital provenance?
    By being a descentralised and public ledger, all transactions are recorded in the Blockchain. So digital provenance is guaranteed since the origin of for example Raw materials, food ingredients can be trace to their very beggining.
  2. Why doesn’t a normal database bring the same provenance?
    Normal databases are centralized and private, the information belong to one partie which are the responsible to add or remove information. Audit also happens in a private way on the contrary the blockchain is public and anyone can check the ionformation that has been added
  3. Why is digital provenance such a great benefit to many businesses?
    Because it adds transparency and the possibility to verify or self audit every single transaction there is not such a thing as trust. Businesses can benefit by being able to verify all transactions within accounting departments, or it could be possible to trace the origin of Raw materials in the fashion industry or ingredient in the food industry
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