Homework on Provenance - Questions

[Sri]

1. How does blockchain enable digital provenance?

By trackcing every transaction ever happened,and having the ability to instantly verify a new transaction gives Blockchain the magical power of knowing it all while dictating what is right and wrong.

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

Nothing is impossible and one may be able to build it into normal DB. But it isn’t going to be cheap or fast to do so. At the best, it may achieve the requirement thru implementing a Blockchain being part of the transactional process itself.

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

Imagine that one business doesn’t have to implicitly trust what someone says. Take an example of FICO Score. If a credit agency were to be tied to blockchain and give a score of X to an individual, one can easily verify and audit the full scope of the score without having to go thru reams of papers and what not.

[Milica]

Blockchain is like you said in the lecture “digital stone”, so whatever is written in it stays forever and there is no way to alter it, thanks to network of computers, where each node has a copy of blockchain. Also being public ledger, it is transparent and there is no need for “blind trust”, it is easily verifiable.

Normal database does not bring the same provenance as blockchain because it is centralized, its stored at one place and the trust is put on database admins, or whoever has access and ability to create, update and delete data.

Digital provenance is a great benefit for many businesses because grocery stores, car dealerships, pharmacies, to name few, can claim and believe in the product, but can not guarantee it. But blockchain can guarantee it. There is no need for trust in companies, because it can be easily verified.

[clbmaia]

1. Blockchain enables digital provenance by not allowing changes on records (immutable information). Also, data is decentralized in blockchain, which means everyone can have access to the data.

2. A normal database can be centralized, owned by an entity, and they control who can access the data. Also, someone with bad intentions can try to access and modify this data and succeed.

3. Some of the benefits of provenance are traceability of data in real-time, more people with access to the data, and no need to trust.

[Jua]

1: Blockchain is a digital ledger where every transaction is stored in multiple places at the same time. The ledger can only be added to and not erased. Transactions are verifiable and trustless.

2: A normal database can be tampered with intentionally or inadvertently, and is not self auditing. Blockchain transactions contain information that exist on separate layers in a normal database.

3: Digital provenance facilitates a trustless interaction between businesses and the entities they interact with. it also allows their customers to be able to verify their claims.

[darkweb72]

1. Blockchain enables provenance by removing the necessity of us trusting centralized third parties with governance of information. It enables information to pass securely from peer to peer, trust less, and openly distributed. This is especially important when it comes to the global monetary system, corporate supply chains and many other areas of life. The blockchain provides the ultimate accountability, security and equity on the ledger!

2. The reason traditional databases don’t work well, is because they
   1.Can be manipulated or hacked because they are usually on centralized database and only have one backup.
   2.There is less data stored on what happens between a and c which leaves us with an opaque understanding of what happened with B.
   3.Central banks by nature are not transparent and in a large way manipulative with their centralized power! You will find this will Be true in any industry that has centralized data collection! Data manipulation abounds this is why blockchain technology is so important! Thanks to Satoshi and his cypher punks I believe blockchain will revolutionize the world!

3. digital provenance is important to business because it helps them to 1.Understand and improve their supply chain
   2.Brings transparency to their customers as all will have access to the ledger!
   3.Makes their business more accountable which will in turn translate to higher profitability, solidifying their market share! The Company’s like Tesla that are innovative and forward thinking with blockchain now won’t be scrambling as hard for their piece pie in the future!

[grapefruitgrape]

Crypto Homework #1

1. How does blockchain enable digial provenance?

Blockchain enables provenance by connecting each piece of data to the data before it. Every piece of data is linked, creating one cohesive stream of data. The data is “chained” together in “blocks”.

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

Typically databases separate data and don’t keep track of each element before it.

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

Digital provenance removes trust, and in doing so creates a greater capacity for integrity. People can be more at ease knowing they can trace their transactions, ingredients in their food, and sources of other materials. Digital provenance can be used to trace tax dollars, which has the potential to reduce corruption within government, since the public would have more knowledge of how funds are being used.

[Chris_Banks]

1. Blockchain provides digital provenance by telling the truth. It does not allow information to be changed or manipulated, once data is accepted.
   2)A normal database does not have the same provenance because the data entered can be altered at any time by anyone for any number of nefarious reasons. i.e. “cooking the books”
   3)Digital provenance is a great benefit to businesses small and large. Being able to track materials and their origin alike will insure a trusted product for companies to sell to consumers. And the consumers will be able to hold companies accountable for using subpar materials by tracking the info on blockchain

[Loresmen]

1: Blockchain enables everyone to see where products are coming from, it forces transparency as the blockchain makes the transactions irremovable, so that every single things recorded is checked and verified

2: With a normal database you have to have trust in the people you are dealing with and everything has a centralized source. The blockchain removes all of these factors

3: The customers are capable of seeing where and what materials are inside of the products in which you are getting. So when a company buys materials for a product they can know exactly where it’s coming from and exactly who made it.

[loso]

1. Blockchain enables digital provenance as it allows for transactions and accounting become one as recorded on the blockchain. The blockchain is public and can only be added to. This creates a sense of financial clarity as all transactions are recorded and public.
2. A normal database does not provide the same provenance primarily because it is centralized. In the database being centralized there is no accounting for what can be added and removed. This is in contrast to a blockchain where things can only be added and records are openly accessible.
3. It is a great fit to many businesses as it creates trustlessness. Often times in business there must be trust between consumers and suppliers, often blind trust. Digital provenance removes the need for their to be trust as complete transaction history will be openly recorded allowing both parties to fully trace the true origins and processes in which transactions took place.

[CryptoTribe]

1. All transactions are audited and tracked on the ledger.

2. A normal database is centralized, which can be abused by those thats not honest.

   3.All transitions are verified.

[PapaCoins]

1. How does blockchain enable digital provenance?
   Data can be stored in a blockchain without the ability to be removed. This enables traceability of data in a trustless way.

2. Why doesn’t a normal database bring the same provenance?
   A normal database can be deleted and modified without transparency. It makes it hard to trust.

3. Why is digital provenance such a great benefit to many businesses?
   It allows real-time audit of Transactions and traceability. The data can never be removed or modified.

[Vikthor]

@ivan

Homework on Provenance - Questions

1. How does blockchain enable digital provenance?
   Because the Datas in the Database were secured over an hashing process.
   So nobody can change the entries afterwards.
   And everybody check everybody.

2. Why doesn’t a normal database bring the same provenance?
   Because a normal databse belongs to somebody. And this person can change entrys every time. Because you can not easylie find out in a normal database if somebody changed something.

3. Why is digital provenance such a great benefit to many businesses?
   Because with that you don´t need to trust somebody. The System is not simple to cheat. An that means you can brin a lot of processes to Web. You can save a lot of cost and you can simplify all processes.

Homework on Provenance - Questions

1. How does blockchain enable digital provenance?
   Because the Datas in the Database were secured over an hashing process.
   So nobody can change the entries afterwards.
   And everybody check everybody.

2. Why doesn’t a normal database bring the same provenance?
   Because a normal databse belongs to somebody. And this person can change entrys every time. Because you can not easylie find out in a normal database if somebody changed something.

3. Why is digital provenance such a great benefit to many businesses?
   Because with that you don´t need to trust somebody. The System is not simple to cheat. An that means you can brin a lot of processes to Web. You can save a lot of cost and you can simplify all processes.

[Henke]

How does it enable provenance?
-The chain of information is unbroken and accessible at all times all the way from the start. Can not be tampered with.
The difference between a normal database and blockchain …
-Same reason really, a centralized system Is much more vulnerable to manipulation from a party, tracking is more difficult.
Why is dig. provenance such a benefit to business?

• Great for sales, being able to show customers the supply chain, Easy for companies to put pressure on providers. Saves time obviously. Easier being able to find responsibility…and solutions, when things go wrong.

[NicPlankton]

1. By tracking each transaction in a public ledger, auditable in real time.
2. Normal database is centralized, this generates a need for trust. While digital provenance is descentralized and trustless with public ledgers.
3. Cause you are capable of tracing origins of the things that used to require trust. This creates a huge transparency.

[Jared_Vizzi]

1. How does blockchain enable digital provenance?
   It creates a public ledger for tracking and verifying the origin of every transaction.
2. Why doesn’t a normal database bring the same provenance?
   Normal databases can be hacked and altered. They are based on trusting another party to provide accurate data.
3. Why is digital provenance such a great benefit to many businesses?
   It provides transparency for understanding the origin of goods.

[Scorpius]

1. How does blockchain enable digital provenance? Blockchain enables this by having a ledger of transactions that cannot be changed and can be tracked.

2. Why doesn’t a normal database bring the same provenance? typical databases can be changed and they are at risk of being deleted/destroyed whereas blockchain has built in redundancy.

3. Why is digital provenance such a great benefit to many businesses? verifiable trust can be achieved.

[grueman1]

1. By being a public ledger, the data is immutable. One can only add to the data and not subtract or delete.

2. Because in a regular database, data can be removed or manipulated by a central authority.

3. Because it removes the “trust” factor for transactions. The saying “Don’t Trust, Verify” applies here. Data is verified by multiple sources (nodes) to be accurate.

[jelly]

1. By securing transactions on the chain with each block added a secure public ledger of transactional history creates provenance on the entirety of the blockchain.

2. Normal database transactions do not include the accounting record with the transaction, creating the need for provenance through accounting.

3. The cost of accounting would decrease from the creation of provenance on the block chain. This also would allow for much quicker and efficient audits both of which reduce costs.

[Urs]

1. How does blockchain enable digital provenance?
   By writing all transaction into an ledger, not allowing changes, just additions
2. Why doesn’t a normal database bring the same provenance?
   A normal database can change and remove data
3. Why is digital provenance such a great benefit to many businesses?
   It allows trustless transactions.

[Douglas]

Homework on Provenance - Questions

1. How does blockchain enable digital provenance?
2. Why doesn’t a normal database bring the same provenance?
3. Why is digital provenance such a great benefit to many businesses?

1: Blockchain is a database where things can be added but not removed or altered so someone can verify the history of all the transactions in the database.

2: Prior data can be altered in a normal database by anyone with the authority to do so.

3: Digital provenance is a huge benefit to the business world because helps to reduce fraud by allowing transactions or a products history to be verified rather than having to take some ones trust that everything is correct. It also allows for constant up to date auditing of finances or stock. It could be used for verifying where and what ingredients or parts have been used in a product.