Homework on Provenance - Questions

Blockchain and Bitcoin 101
#4176

[quote=“ivan, post:1, topic:8423, full:true”]
Homework on Provenance - Questions

  1. How does blockchain enable digital provenance?

Provenance can track and audit in real time. In financial transactions, the accounting layer and transactional layer are baked in together simplifying process to make it more efficient. Cuts out confusion saves time and is reliable.
2. Why doesn’t a normal database bring the same provenance?
The reason it does not bring the same provenance is because right now, the accounting layer and transactional layer are completely separate in financial transactions with different information causing a prolonged less efficient process with different information.
3. Why is digital provenance such a great benefit to many businesses?
Mainly to create a trustless system so you know the life cycle of your product in supply chain. This goes for retail, logistics, automobile, agriculture and much more. Vechain is a good example as it is a great project and I believe is the Sole Public Blockchain Protocol of The APAC Provenance Council which is a Cross-Continental Food Supply Chain and Finance Consortium.

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#4177

1- as blockchains are considered as a public digital ledger, where the data on these ledgers can not be removed. so the customers can accurately track to verify certain claims of the product without any tamper.
2- normal database can’t not provide real time auditing compared to digital provenance built on blockchain

3- digital provenance built on blockchain will many advantages as follow; 1- real time auditing on provided data and provenance 2- Accurately tracking and verifying the claims of certain product without the need of trusting only on the product’s claim 3- helping the companies to prove their claims or the end user to disprove those claims made by the companies

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#4178

  1. How does blockchain enable digital provenance?
    It is a public database, accessible to all and transparent.

  2. Why doesn’t a normal database bring the same provenance?
    They are based on trust, they are not accessible, nor 100% transparent, and sabotage.

  3. Why is digital provenance such a great benefit to many businesses?
    Because they ensure traceability, in a transparent, shared and accessible way.

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#4179

I’m hoping this is what you guys are after.

  1. How does blockchain enable digital provenance?
    By electronically recording, and tracking in real time, all movement and transactions that provide immutable record of these movements and transations.

  2. Why doesn’t a normal database bring the same provenance?
    A normal database can be expensive and cannot audit in real time, and records can be manipulated as there is no way to “set them in stone”.

  3. Why is digital provenance such a great benefit to many businesses?
    Efficiency and transparency of all aspects of the tracking of all processes, products and transactions. All done in such a way that the possibility of manipulation is almost eliminated.

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#4180
  1. How does blockchain enable digital provenance?
    Because blockchain is a public database anyone can verify digital information and it can be audited in real-time. Everyone has access to view the data. Blockchain enables accounting and the transaction to be combined into one step that is trustless.
  2. Why doesn’t a normal database bring the same provenance?
    Because accounting is done separately from the transaction and it requires trust. It is not proven to be correct until it is audited. It’s way less efficient and has the trust factor con as well.
  3. Why is digital provenance such a great benefit to many businesses?
    It makes the tasks of accounting and auditing not required. It basically automates the process via software/code which saves companies money and time.
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#4181

  1. The blockchain enables digital provenance by keeping a record of all transactions and only allowing information to be added. No information can be deleted or removed from the blockchain. All data on the blockchain is validated/verified by other nodes on the network that reference their copy of the blockchain to see if a transaction is/can be legitimate or not.

  2. A normal database does not bring the same provenance because it allows central node or server to have control over the ledger/all data. This means data can be added or removed without the information having to first be verified by another node/server.

  3. Digital provenance is an important benefit to many businesses because it provides a trust-less network and/or supply chain because you can safely verify data instead. This means that you don’t have to rely on trust to to run a successful business.

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#4182
  1. How does blockchain enable digital provenance?
    Because blockchain is a public database which could be tracked , anyone can verify information in real time.
    2.Why doesn’t a normal database bring the same provenance?
    A normal database can be wrong , copied , manipulated and relies on trust ,cant achieve the same 100% provenance like the blockchain
  2. Why is digital provenance such a great benefit to many businesses?
    Because it gives you real time information on transaction and its trustless
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#4183
  1. How does blockchain enable digital provenance?

Digital provenance is achieved thru the use of blockchain technology. The ability of only adding data and data cannot be removed which is secured by networks of computer auditing in real time prevents any cheating or invalid transactions to occur. Hence the origin of the database is secured digitally.

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

Normal database does not use the blockchain architecture. All the data are centralized in a server and any inaccuracies of the data do not have a mechanism which would prevent the central to not be honest. The trust would have to be put on the central entity which is handling the database. As such accuracy of the data cannot be proven and reliance would weigh heavily on the trust that the central entity is honest.

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

Digital provenance would allow businesses to conduct their business much more efficiently and cut cost of auditing. Any business that requires a high level trust in their supply chain such as aviation would benefit greatly because they are susceptible to risk if the parts used is bogus.

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#4184
  1. How does blockchain enable digital provenance?

Blockchain enables digital provenance because it functions as a ledger, a database in wich every transaction and moves of a product are stored and accesible to the public. Plus, it is immutable, information can only be added and not removed; it functions as a locked history.

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

Because blockchain is decentralised, it operates by itself; a network of computers that automatically verify each new information according to the history of the product it concerns. A normal database, which isnt decentralised, might be mutable by the entity that operates the database, so even though the information might be accesible and verifyable, it demands trust towards the entity that stores and validates the information.

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

Digital provenance operates by itself, and being decentralised, makes it trustless. It makes transactions between peers much faster which enables many businesses to operate worldwide withoud a third party needed and with much less effort and time. It gives buisinesses the opportunity to connect and work together making the creation of a product much more efficient and accesible.

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#4185
    1. How does blockchain enable digital provenance?
    • Data is being tracked, traced and stored by all the nodes who take part in the verification process.
    1. Why doesn’t a normal database bring the same provenance?
    • Data that is being stored in the blockchain cannot be removed and its decentralized.
    1. Why is digital provenance such a great benefit to many businesses?
    • Businesses do not need human trust to intervenes in the exchange of data, but algorithms, they rely on the blockchain and the verification of the data is provided by distributed networks.
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#4186
  1. It’s a public, transparent and immutable, that allows for tracking transactions in rea time.
  2. Normal databases don’t usually guarantee immutability and it can’t be tracked in real time because they are not public and transparent.
  3. Because it enables digital business auditing, it can get the accounting layer together with the transactional layer.
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#4187
  1. How does blockchain enable digital provenance?
  • The blockchain is like a digital stone. You can add transactions/data to it and once recorded, they cannot be removed from the blockchain. All transactions occurred in the blockchain can be tracked by anyone in real time.
  1. Why doesn’t a normal database bring the same provenance?
  • A normal database has an entity that controls all the data. Information can easily be removed/modified by them.
  1. Why is digital provenance such a great benefit to many businesses?
  • Digital provenance provides real time auditing, hence increasing efficiency. It also creates a trustless system where everything is transparent.
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#4188

Blockchain enables providence as the entire history and tracking is held within multiple nodes held in distributed ledgers, as is it only possible to add information to the BC and there for it’s entire transactional history is always there.

Normal databases do not provide this as it’s held centrally and sales/revenue/accounting etc all need to be compiled and audited, they also rarely match completely and are open to fraud and ‘cooking the books’.

It will save significant time, effort, energy and resource from accounting firms digging through books and files to verify. It’s also possible to prove the origin (add only) and exactly where a product has been made and passed through form start to finish which means everything is verified and does not rely on trust anymore.

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#4189

  1. It does it by making all transactions public and traceable therefore providing a lot of transparency to all transactions. It is decentralized technology, so 1 person/organisation controls it.

  2. A normal database is controlled centrally by a government, organisation or a person. They are not obliged to share all information on the database, consumers ‘trust’ these databases that they are providing clear and transparent information.

  3. Business will be able to provide a better experience/product to their consumers/customers because they will be able to stand by their supply chains… aka knowing that a jumper wasn’t made by a child. It will make things cheaper (maybe) because companies won’t have to pay out large sums to big auditing firms. It will will transactions quicker.

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#4190
  1. Blockchain maintains provenance through it’s ability to publicly list all transactions on the blockchain for origin to completion.
  2. Databases cannot bring the same provenance because they are able to be muted, edited, and changed where as the blocks on the chain cannot.
  3. Businesses can benefit from digital provenance because it eliminates the need for trust and allows verification of unchangeable, immutable data/transactions.
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#4191
  1. The origin of the transaction can be verified by anybody through the ledger
  2. because a regular database can be altered
  3. it makes sure they dont have to thrust anybody on their weird but the can verify it.
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#4192

1.Tracking transactions in real time,every transaction is stored and saved on blockchain.

2.Data from regular database can be removed(corruption)in blockchain all transactions are traceable.

3.They dont need to trust somebody,everything is stored on blockchain,and transactions is traceable,this is why is ideal(no corruption).

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#4193
  1. by tracking all currency and functionality movements on a public ledger in the form of blocks verified by multiple independent nodes
  2. a normal database is private, local and fragmented and requires trust and auditing in order to verify the fragmented pieces
  3. provenance removes the need for trust and shifts the focus directly to verification
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#4194

  1. Blockchain enables digital provenance simply because data can only be added to the “digital stone” or ledger rather than being manipulated by a central power such as government or maybe even a company if we are talking about a smaller scale product such as food.

  2. Normal databases can be manipulated to benefit one side or both sides of a transaction or data section. Therefore making distrust a strong possibly.

  3. Digital provenance is great for businesses in that it always trust to be a thing of the past. It allows for transparency to both the consumers of the business as well as the accounting department of a business. This may also save time and money for businesses on the accounting side and make audits a much less stressful event.

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#4195
  1. How does blockchain enable digital provenance?

Provenance can track and audit in real-time. In financial transactions, the accounting layer and transactional layer are combined in code/transaction hash simplifying the process and information.

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

In the current systems outside of Blockchain technology, the accounting layer and transactional layer are completely separate in transactions with different information and different operating systems causing a lag in transaction time and inefficiency.

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

Instead of basing transactions on trust, all transactions are verified. To create a trustless system you have to be able to track the product or service in the supply chain. Vechain is an example of a chain supply protocol.

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