Homework on Provenance - Questions

Blockchain and Bitcoin 101
#4237

  1. All transactions on the blockchain are publicly traceable. The database acts like a digital stone where transactions can be added but not removed .

  2. Normal database can be altered or edited.

  3. Thanks to the blockchain origin of things or history of transactions are transparent and therefore traceable. Trustlessness through transparency.

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#4238
  1. How does blockchain enable digital provenance?

Blockchain technology enables provenance through allowing making all information transparent. Blockchain technology fundamentally only allows for information to added to the ledger, and not be removed from the ledger.

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

Traditional legacy databases utilized today are centralized and controlled by a single entity or central authority. Legacy databases aren’t transparent to the end-user because the information isn’t public.

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

Digital provenance provides transparence, accountability, and verification. All good and services are able to verified on the blockchain. Consumers are able to verify transactions through digital provenance.

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#4239
  1. How does blockchain enable digital provenance?

Blockchain technology enables provenance by making transactions trackabale and traceable

Merging the accounting layer with the transactional layer

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

Traditional databases do not have the accounting information present in the transactional data

You can delete data in normal databases

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

It provides businesses with real time auditing, no need for an auditor to be physically present

No need to trust what suppliers are saying instead you can verify it via blockchain

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#4240

1- How does blockchain enable digital provenance?

Blockchain enables digital provenance because it is immutable, decentralised and there is no layer o trust with the blockchain, only verification. Immutable meaning that you can add things but not remove anything, therefore nothing can be edited. Decentralised in that no one entity controls it, but the verification are delegated away from any one entity and instead in a network. These 2 qualities make the blockchain trustless, eliminating any third party governance.

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

In a normal database, it is controlled by a central entity or organization, the blockchain is not governed by a central entity so it brings a different provenance. Whoever is in control of or editing that normal database, they can manipulate data or put in wrong numbers or characters. In the blockchain, it is immutable, you can add things but not remove anything. You can add and remove things with a normal database.

3)Why is digital provenance such a great benefit to many businesses?
Digital provenance is such a great benefit to many businesses because of the ability to do real-time auditing and verification. Suppliers and consumers can verify quantities or qualities of products real time, therefore decreasing time from hours/days to seconds. Real-time data is given on any supply chain to be seen from service provider, deliverer, receiver via the blockchain thanks to provenance. All involved in the handling of items can track the progress, eliminating middlemen and trusting anyone. You just need to verify where it is via the blockchain. Revolutionary!

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#4241

Will I get graded on my homework? I can see everyone else’s answers too, so what’s to stop me from copy pasting?

In my own words:

  1. How does blockchain enable digital provenance?
    As I understand it, provenance comes automatically from the fact that each transaction is a permanent public record. That means that transacting and auditing become identical.

  2. Why doesn’t a normal database bring the same provenance?
    Normal databases aren’t required to be public or permanent.

  3. Why is digital provenance such a great benefit to many businesses?
    It means that they will know the complete history of everything that enters their business. They don’t have to trust suppliers. It isn’t clear to me yet, however, how we can make sure that the digital transaction history is always matched perfectly by the physical transaction history.

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#4242

  1. Block chain enables digital provenance due to the fact that it is a “digital stone” and that which has gone before cannot be altered or changed… the information is validated and verified every step of the way by the system of computers, nodes I think, so nothing can be fudged or manipulated.

  2. A normal database has no checks and balances, you can alter anything you want along the way. There is no sureness of origin or the path any item in question has gone.

  3. Digital provenance ensures authenticity, truth and assurance. There are many benefits including genuiness, quality control, the journey and pathway of things, instant audits… really it seems endless the benefits that blockchain can bring to businesses and consumers.

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#4243

  1. You can trace transactions

  2. Normal database is corruptible and can’t put accounting and transactions together.

  3. Brings valve, efficiency, and verification

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#4244

  1. How does blockchain enable digital provenance?
    Because every transaction in the block chain is easily trackable and can be tracked from the very first transaction on that block to the latest one. Each transaction is guaranteed to be trusted because no one can alter any previous transactions on each block. All transactions on the block chain are made public and can be seen by anyone.

  2. Why doesn’t a normal database bring the same provenance?
    A normal database is controlled by a centralized entity which could alter anything it wanted at any given time, it is much more difficult to be able to track things that happen on centralized data bases and they don’t have to reveal any information if they don’t want to.

  3. Why is digital provenance such a great benefit to many businesses?
    Not only is it easier to track data but you know that every piece of data you gather from the block chain can be trusted and verified instead of having to put your trust in the hands of some middleman. Everything can be authenticated and provides the ability to track information and transactions in real time.

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#4245
  1. all transactions are stored on blockchain permanently and transparent to public
  2. data can be manipulated by owner
    single location vs worldwide nodes
  3. real time auditing and traceability,
    efficient verification via blockchain data
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#4246

The blockchain platform enables the storage of a chronology of events in a publicly verifiable ledger.

As opposed to a traditional database the blockchain can not be retro-actively altered and is therefore more secure and reliable

For businesses this enables a better scope of auditing and confidence in supply chain authenticity.

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#4247

1 - Blockchain collects all information, such as financial transactions, and becomes a permanent record in the database. It is decentralized, immutable and can be verified.
2 - A normal database is centralized, can be tampered and manipulated.
3 - Digital provenance makes all transactions in businesses traceable and verifiable, eliminating trust between transaction participants, i.e. “trustlessness”.

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#4248
  1. blockchain allows the tracing of all transactions (immutable) Can’t be changed.
    2.I am assuming this question related to conventional auditing, which is a slow and expensive and subject to human error.
    3.It cannot be altered and records in real time
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#4249

  1. Blockchain enables provenance by making it possible to see every action and change on the ledger. The data cannot be removed so everything will always be transparent. The data can be verified mathematically so there is no ned for trust.

  2. Regular databases are maintained by big companies that cannot offer the same transparentness because they might have some agendas and want to hide some data. The public ledger can be seen by everyone and can be verified by anyone

  3. Because it eliminates the need for trust. All the data can be verified by math. It also eliminates the cost of auditing because it all can be done automatically.

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#4250
  1. Blockchain enables digital provenance by creating a system where by transactions cannot be falsified. This is enabled via an elaborate system of decentralised nodes, that all work in tandem to verify a single transaction.
  2. This is very different from a traditional database which is usually managed by one company/ government/ authority, and can therefore be manipulated without the knowledge of the wider public etc.
  3. Digital Provenance would be such a benefit to so many businesses as companies could be held accountable going forward, which would in turn level the business playing field, and mitigate current issues surrounding extortion, monopolies, corruption etc
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#4251

  1. Blockchain improves the transparency of different transactions as it allows provenance to track all transactions on the blockchain in real time without having any details being removed.

  2. A normal database will allow for adding and deleting but with provenance on the blockchain, this is not allowed. It can allow both accounting and transactional layers to be put on each other for real time tracking. This is not possible with other database as the layers are dealt with separately.

  3. Digital provenance is a great benefit to different businesses because it is not limited to a particular sector. It tracks and gives records of all supply chain that pass through the public ledger.

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#4252
  1. Blockchain enable digital provenance because all the transaction data can be found on the transaction block and is public so anyone can see them.
  2. Because the accounting and the transaction are separate therefore someone is needed to check all the data and determined if they are correct. Moreovere in a centralized database the information can be manipulated
  3. Because whit the blockchain tecnology and whit provenance the sistem is trustless therefore you can verify that all the information are correct and you don’t have to trust anyone.
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#4253
  1. How does blockchain enable digital provenance?

It is enabled by tracing financial transactions and accounting in realtime which are also audited simultaneously through a public ledger so the financial process is much more efficient.

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

Blockchain provenance put together the account + transactional ledger in one single transaction while the traditional DB will have them separate transactional for example (Bank Payment in one side and Invoicing registration on another platform or ERP software)

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

Companies will benefit in many ways, starting from time and cost efficient, in addition to that they are are able to track and verify items, ingredients, materials and quality sensitive information that will be available so it will generate transparency and trustlessness between businesses and consumers.

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#4254

1. How does blockchain enable digital provenance?
Once the original information are written on the Blockchain it is not simply possible to change them anymore. Through full transparency transactaion history everyone got insight into the origin and property of the information.
2. Why doesn’t a normal database bring the same provenance?
Traditional databases are centralized and untransparent storges of information. There is no proof for the reliability of the data. You just have to trust it.
3. Why is digital provenance such a great benefit to many businesses?
Companies can provide solid data to their customers and customers can rely on that data. The customers don’t have to turst the company, data proofs itself.

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#4255
  1. The blockchain is an open public ledger which allows auditing in real time.
  2. A normal database is controlled by a company or central authority and they could manipulate the data or even remove transaction. From the blockchain the transactions cannot be removed.
  3. In blockchain everyone can track the origin, location, status and quality and you can make real-time audits.
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#4256

Homework on Provenance Answers

  1. Blockchain enables digital provenance by tracking all data of a transaction during every step of it’s journey.

  2. A normal database does not bring the same provenance as blockchain, because blockchain cannot be altered where as a normal database can be altered and/or manipulated. Blockchain does not rely on trust. It is trustless. Data on blockchain is decentralized. It can only added and cannot be removed from the database. Blockchain also requires verification among the multiple copies of the entire blockchain across the multiple computers in a given network to confirm the blockchain information is correct. The slogan goes, “don’t trust, verify!”

  3. Digital provenance is a great benefit to businesses, because any and all data of a given transaction can be tracked and verified along it’s journey at every checkpoint using digital provenance. Food companies can track where the food has been, it’s ingredients, it’s condition and so forth. Digital provenance can also bring real time auditing for taxes into play since all transactions and all data is tracked and easily seen on the public ledger called the blockchain. The days of the IRS auditing 2 years in the past will be over. It can happen almost instantly on the blockchain.

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