Homework on Provenance - Questions

Blockchain and Bitcoin 101
#4478
  1. By being a ledger , it stores data forever that can be accessibly by anyone , anytime .
  2. Because normal database can only be one thing at the time, it can multiple layers of info, while blokchain can .
    3.Because you can audit other companies and their dealings easily . This can be applied in different use cases , you can check traceability of companies products easily .
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#4479

  1. How does blockchain enable digital provenance? Blockchain enables digital provenance by allowing real time audits which in turn greatly reduces the chance of dishonest transactions.

  2. Why doesn’t a normal database bring the same provenance? Normal databases do not have real time auditing capabilities and require a person to physically analyze the transactions allowing time for the transactions to be altered and greatly enhances the possibility of human error.

  3. Why is digital provenance such a great benefit to many businesses? Digital provenance would benefit many businesses by allowing them to see in full transparency where the products they use come from, where the money they spend goes to, track quality control problems, streamline internal/external auditing, and also builds investor and consumer trust by making the company fully transparent.

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#4480

  1. Blockchain enables digital provenance by combining the transactional and accounting layers and adding them onto the immutable “digital stone”. This makes real-time audits of financial and supply chain data possible.

  2. Normal databases don’t bring the same provenance because they can be too easily manipulated. Anyone with access can simply remove or modify records they don’t want others to see. This is not possible on the blockchain.

  3. Digital provenance is such a great benefit to many businesses because it enables real-time tracing and verification of transactions and supply chains, and it removes the need to trust anybody. You can verify any transaction yourself.

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#4481
  1. It is a public ledger, so everyone can see all the transactions and trace them.
  2. Normal database is centralised and is not for everyone to see.
  3. It removes trust from the equation and is more efficient.
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#4482

  • How does blockchain enable digital provenance?
    Because you can track every transaction that has been made in order to verify everything is clear and where it needs to be.

  • Why doesn’t a normal database bring the same provenance?
    Normal databases are centralized and exposed to be hacked or have any other issue that can corrupt it.

  • Why is digital provenance such a great benefit to many businesses?
    Because it gives transparency to the users, you can verify by yourself everything is ok and not just to trust a person or company.

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#4483
  1. How does blockchain enable digital provenance?
    It provides a public record that is permissionless and cannot be corrupted.
  2. Why doesn’t a normal database bring the same provenance?
    It is corruptable and relies on trust in one’s database and auditing. It is not transparent and
    efficient.
  3. Why is digital provenance such a great benefit to many businesses?
    It is easily verifiable through a public ledger, doesn’t rely on trust, and provides transparency throughout the cycle of the transaction.
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#4484 
How does blockchain enable digital provenance?

Blockchain enables provenance because of the public ledger. Everyone can see all the entries in it and where things are coming from

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

You can only add data and are not able to remove data from the Blockchain

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

The financial transaction can be track and audited in real-time, supply chains vendors can be audited and information can be verified,

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#4486
  1. How does blockchain enable digital provenance?

Blockchain enables digital provenance, because entries (data, information) are stored chronologically in the database. It is replicated over multiple nodes (= computers in the network) and the entries cannot be changed once accepted.

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

It is because a „normal“ database normally has an owner, which means that the entries are not immutable, they can be changed by the owner of the database. Moreover it is not as reliable as provenance, because the database access may be interrupted if it is a centralized oder distributed database.

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

The great benefit of provenance to businesses is that they do not have to trust or to rely on third parties (such as banks, governmental entities, companies like EY, PWC, Deloitte, KPMG) to audit and/or access records or transactions anymore. All data is available and visible in the blockchain. Due to this nature it creates a historical transparency which can also be used to fight corruption, tax evasion, governmental spending. It can also be used to improve supply chain operations: i.e. you are able to see the exact ingredients of food or all steps of production of your clothes, then all steps of transport/delivery, etc).

Regarding the track record within supply chain it is also of great value to businesses, their insurances, and customers in case some items will get lost or destroyed during transportation.

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#4487

Homework on Provenance - Questions

  1. How does blockchain enable digital provenance?
    Bitcoin enables digital provenance by tracking and tracing financial transactions in real time. By combining the accounting layer with the transaction, it omits the need for trust and verifies all history and transactions on multiple systems.
  2. Why doesn’t a normal database bring the same provenance?
    A normal database fails to provide provenance because it is controlled by a single organization. This centralized database can be hacked, manipulated, or even crash. Information can also be removed from a centralized database where in blockchain, information may only be added.
  3. Why is digital provenance such a great benefit to many businesses?
    Digital provenance allows a business to verify and track information and products in real time. Audits may be done digitally rather than manually and all of the information is public and transparent gaining the customers trust and self-empowerment.
1 Like
#4488
  1. How does blockchain enable digital provenance? real time record, trustless transactions.
  2. Why doesn’t a normal database bring the same provenance? delayed-must track-expensive to manage - opaque
  3. Why is digital provenance such a great benefit to many businesses? public access-trustless-private- accessible and auditable.
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#4489

  1. Blockchain technologies store all past transactions and are immutable, preventing the ability to remove transactions from the “ledger”. This enables anybody to verify transactions.

  2. A normal database is not Decentralized. It is controlled by a single entity requiring trust that the host will not alter/ manipulate the information that is held within it.

  3. Digital Provenance allows the ability for real time auditing, preventing the need for anyone to take the companies time or resources to perform an audit. This allows for increased efficiency.

1 Like
#4490
  1. How does blockchain enable digital provenance?

Blockchain is like a digital stone. Data can be added on and can’t be taken off thus everything can be traced from beginning to end.

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

It’s based on trust. There may be human error, manipulation so makes it harder to trace everything.

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

Real time auditing, every single transactions transparent so if problem occurs it can be traced back to the source.

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#4491

1.) with different computers looking at the same certain subjects in a blockchain where you can only add and not subtract data, you are able to verify and track digitally which is what provenance is.
2.) databases can always be edited and sometimes not a lot of people have access to a normal database
3.) businesses will be able to help keep track of the clients and accounts easier which will make the business run smoother.

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#4492
  1. How does blockchain enable digital provenance? Blockchain technology enables trustless business protocol-based transactions.
  2. Why doesn’t a normal database bring the same provenance? Normal databases do not have the value added proof of stake nor validations like that of blockchain technologies.
  3. Why is digital provenance such a great benefit to many businesses? Digital provenance is such a great benefit to many businesses because, it is transparent and publicly accessible. Moreover, it is decentralized.
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#4493
  1. By keeping track of past ownership. Verifiably without centralization.
  2. A normal database does not bring the same benefits because it can be manipulated because it is uses a high trust factor.
  3. It would allow them to remove the trust factor & only verify.
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#4494
  1. Yes, don’t trust - verify. It brings the transactions and accounting together in real time.
  2. In normal data bases data can be added and removed. On the Blockchain data can be added but NOT removed
  3. It eliminated third party verification by providing real time auditing/accounting, thus reducing costs.
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#4495

  1. Blockchain enables digital provenance by simply putting all the information about the product public, information that cannot be removed or changed by anyone and if someone tries to change it on a blockchain the decentralised network will prove them wrong. You can only add information to the blockchain, you cannot remove nor change the information.

  2. Because its a centralised database, where you have to trust a third party to authentication of the product, the information its hidden from the public you can’t check nor verify it, the only thing you can do is ask and trust their words.

  3. Digital Provenance is a great benefit to many business cause allows people to verify and real-time auditing every tansaction there was made.

1 Like
#4496

Homework on Provenance - Questions

  1. How does blockchain enable digital provenance?
    Blockchain technology enables users to use public versions of it. All data is immutable (technically close to impossible to hack) to tempering. When using public blockchains, everyone can see all the transactions in the past, and real time. This would be like to have a live API connection to ECB ledger database which is like never gonna happen.

  2. Why doesn’t a normal database bring the same provenance?
    Legacy (currently in use) database techniques have a handful of vulnerabilities (like SQL injection) and they are managed by people and not code. Code is better in this case.

  3. Why is digital provenance such a great benefit to many businesses?
    Cost savings is one big advantage and much better automation capabilities as well.

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#4497
  1. By having a network of computers all of them verifying the same information in the block chain such that it is not possible to introduce a change of state if that is not supported by all.
  2. Normal database cannot bring about the same provenance as it completely relies upon Trust that the data has not been changed.
  3. It is possible to have a system that is trustless and yet verifiable to be completely correct by anyone. This enables for the first time to have efficiency and transparency without relying on trust.
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#4498 
How does blockchain enable digital provenance?

Blockchain enables provenance because of the public ledger. Everyone can see all the entries in it and where things are coming from
Why doesn’t a normal database bring the same provenance?
You can only add data and are not able to remove data from the Blockchain
Why is digital provenance such a great benefit to many businesses?
The financial transaction can be track and audited in real-time, supply chains vendors can be audited and information can be verified,

1 Like