Homework on Provenance - Questions

[Andrija]

1. Blockchain enables immutable record of each data input and tracks each transaction in real time.
2. A normal database has entries that are not immutable and can be manipulated.
3. Businesses do not have to rely on third parties to audit or access records or transactions. It also brings transparency, real time tracking and a trustless eco system.

[DisenfranchisedSoul]

1. Being decentralized and verified by many sources, it cannot be changed and is available for external public audits. The whole chain can be traced.
2. A normal centralized database is subject to those that control or house that database. Things can be changed. Data also doesn’t necessarily have a chain that shows the continuation of the information.
3. A business needs to know the ‘rules’ to play by. It also allows faster auditing and transaction accountability.

[Sysmaster]

1. Immutable, Secure, Traceable, Transparent, Verifiable, No central authority
2. Not as secure, can be modified/hacked and is controlled by central authority. Usually has one to two points of failure
3. Decentralized, efficient, tracable, verifiable/auditable

[ShreyPanda]

Answers:

1. Provenance enables businesses to easily collate their data and to also verify key information. Blockchain technology enables digital provenance by means of a digital, decentralised, public ledger / database, whereby all transactions are recorded in real time. These databases are replicated across nodes all over the world, which constantly verify the transactions in the blockchain - once a transaction is accepted, it is immutable (unchangeable).
2. A normal database does not ensure provenance as it is centralised and is not immutable. This renders it unreliable as records can be edited / deleted and the database can crash. Blockchain on the other hand is decentralised. It runs independently, without centralised control- thus allowing for 24/7 access; and there is no single-point-of-failure. Transactions recorded in the blockchain cannot be edited / deleted as it supports add-only functionality.
3. Provenance is a benefit to businesses as it eliminates the need for a third party for auditing/ access to records and transactions. All transactions in the blockchain are recorded in real time; are verified by nodes and allows for historical transparency.

[DesireeC]

1 Through blockchain its not possible to edit information: you can add it but not delete it or manipulate. With a decentralized database its possible to have transparent transactions.

2 Because there are no public copies of other database, so its hard to verify if it has been manipulated/edited or not.

3 Its a way to verify transactions and avoid corruption. Its a safe way to check information.

[jokir]

1. Provides a public record of all transactions on the blockchain, which is traceable back thought the blockchain.

2. Normal databases generally not structured in a way to provide a history of transactions of all objects in the database.

3. It will allow real time auditing of all transactions by a given element on the blockchain. Transactional data can be traced as well as accounting information baked into the transaction (if so applicable).

[Gregrosz]

1. Blockchain enables digital provenance by storing it on a ledger. All information on the ledger is set in stone. Therefore, blockchain enables you to track, trace and verify the entire supply chain.

2. A normal database can be changed. As a result, you can change or modify the items.

3. Increased productivity, real time auditing, guaranteeing immutability.

[CryptoLex]

1.How is blockchain enable digital provenance?
it can track any transaction from point of origin and all throughout its history of any transaction.

2. why doesnt a normal database bring the same provenance ?
   a normal database is centralized so it has a greater chance of being hacked…

3. why is a digital provenance such a great benefit to many business?
   it can provide real time auditing and trace everything instead of using the human aspect of it .

[PeterVong]

1. Blockchain enables the usage of a digital signature along with real time auditing and tracing at the moment transactions occurs.
2. Databases rely on constant confirmation and trust from different departments to provide the correct data which can be difficult to determine if that data is actually true or false.
3. The benefit of digital provenance is based on constant real time auditing and tracing of financial and production data at the moment the manufacturing and/or the financial transaction took place. Through a digital signature that cannot be changed once on the blockchain, it creates an accurate ledger of data based not on trust between departments but on accurate accounts of productive work within the company as a whole.

[Andreas_Langes]

1. There are several use cases for the blockchain technology. In the crypto space, for example, offering decentralized financial products or also real time auditing. In other sectors like production, supply chains can be monitored in a trustless way.

2. Blockchains are decentralized, information can only be added and not removed, it guarantees transparency.

3. It removes the factor of insecurity and trust into the other party. Other benefits are reducing cost, reducing errors and increase transparency.

[voljumet]

1. Blockchain enables digital provenance by making the system trustless with a public ledger that anyone can become a part of.

2. Because it is a centralized, single point of failure, it is not public, it has to be trusted that it is true.

3. Blockchain brings together the transactional- and accounting-layer of a transaction and gives real-time auditing.

[Kae_Y]

• How does blockchain enable digital provenance?
  Because blockchain is decentralised no authority can manipulate the transaction. Provenace is run on Verification not trust.

• Why doesn’t a normal database bring the same provenance?
  Normal database can be manipulated or lose data if the database crashes then transactions are not so easy to trace.

• Why is digital provenance such a great benefit to many businesses?
  Because it brings true transparency to the transaction, real-time audition which results in faster transaction and efficiency.

[AJDAY]

1. It enables digital provenance by storing all entries chronology within the database which is replicated across multiple nodes and cannot be deleted .
2. A normal data base are not multiplied to other nodes, nor stored in a way that it cannot be altered or even deleted.

3.Digital provenance is of great benefit too many businesses because they don’t have to rely on third parties to audit or access records or transactions. All data is available openly/transparently in blockchain.

[Vytautas]

1. How does blockchain enable digital provenance?

Answer: blockchain enables digital provenance by computer network and verifying

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

Answer: because in normal data base you can enter data and delete data, however in blockchain you can only add data, but can not delete data.

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

Answer: because you can get trust, you can avoid middle chain for verifying, it will be verified automatically, for example paying invoices / transfers / auditing. In this case auditing is not necessary.

[Maevian]

1. All transactions can be traced
2. In a normal database you can delete stuff, in blockchain all transactions are permanent
3. It removes the need for expensive auditors as everything can be traced real-time.
   blockchain contains both the transaction and the accounting layer

[Ben17]

1. Blockchain enables digital provenance by providing a permanent record of all transactions.
2. Because unlike blockchain, a normal database isn’t always public, which means transactions can potentially be altered behind the scenes.
3. Because it promotes transparency and removes the need for trust in every transaction in which a business engages. This means that both the employees of the business and the public that utilize its services can verify that what is said to be happening is true and correct.

[Clark]

Homework on Provenance - Questions

1. How does blockchain enable digital provenance?
   Blockchain verifies every immutable step and transaction
2. Why doesn’t a normal database bring the same provenance?
   Data can be changed on a normal database.
3. Why is digital provenance such a great benefit to many businesses?
   It will optimize audit, track items within the supply chain, and identify the location of an item in real time.

[majorcranium]

1. through trustless transactions on the blockchain.
2. no because someone can edit a normal database.
3. it provides real time auditing and tracking specific items or components through a publicly accessible blockchain.

[Tigerbell]

1. How does blockchain enable digital provenance?
   Every step in a process or transaction can be checked in the public ledger.

2. Why doesn’t a normal database bring the same provenance?
   centralized databases are not public and therefore cannot be checked by the public for errors or omitted important details

3. Why is digital provenance such a great benefit to many businesses?
   The transparency allows companies to improve each other and check for truths.

[Kevin_Desbiens]

1 How does blockchain enable digital provenance?

By keeping tract of what comes in and what comes out.

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

They are very opaque, they don’t keep track of everything.

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

They can take out the trust out of the equation. They can verify everything digitally.