Homework on Provenance - Questions

Blockchain and Bitcoin 101
#4620

Homework on Provenance – Questions

  1. How does blockchain enable digital provenance?

In case of one transaction of i.e. BTC it will be written into the blockchain and can´t be changed at all once it is verified by the network. This enables the option to track every action of the parcitipants and removes the need of centralized Verifiers.

How ever it doesn´t remove trust in my opinion it only shifts the trust from centralized organisations to the decentralized blockchain.

In case of ingredients it would be possible to track them aswell if there is a way to link this physical item to datapoint that can be verified by the blockchain. So how can i connect my apple to the blockchain?

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

In normal databases i can add, remove and manipulate data like i need to. On the blockchain i am only able to write data to i can´t remove data or manipulate verified data.

  1. Why is digital provenance such a great benefit to many businesses? Buisnesses will have a more easy and convinient way to account all their financial actions. Every needed information is stored in one place and easy to verify by auditors or accountans.

In case of physical items bound to the blockchain buisnesses can verify the provanance of their goods as long there is no manipulation to the link.

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#4621
  1. How does blockchain enable digital provenance?

Transparency of information and cross checked data provides results that are verifiable and without influence or control by one party.

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

Normal databases are typically input by one party with full control of access as well as any changes to any data.

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

Enables transparency and verification of data in order to make decisions based on objective information and track supply chain information from original receipt to final export.

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#4622

1. How does blockchain enable digital provenance?

Because the data inside each block is traceable to the genesis and impossible to edit. That verifies the provenance.

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

Normal database can be edited and the information in it can change. That makes the provenance doubtful.

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

Many industries and businesses rely on supply chains which can be handled by many suppliers and knowing exactly without margin of error the provenance of raw materials for example is key to the stability and growth of the business. Another benefit is the trust this industries can offer to there clients, showing where did the product/good came from giving transparency to the business which later will result in more trust. Also numbers can be more specific, because in each step all transactions can be displayed.

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#4623

Blockchain’s ledger keeps every transaction record ever made in the system. It’s public so re-searchable in the future.

Because a normal database is centralized, not safe from external actions. One good hacker would be enough to change the records, so it’s not trustful.

Because processing past transactions in this way is easier and cost-effective.

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#4624

1. How does blockchain enable digital provenance?

As Ivan said, blockchain provides provenance in public. Anyone may track any of transaction and know what exactly happened, without able to edited it.

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

Normal databases is editable. You can not be trust information that someone gives to you. There is no way(or pretty hard) to check it immediately.

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

Digital provenace is a new way for business, because anyone can check what are you exactly using, how are you making your thing, it is easy to analyze and make decisions for many produtcs. Such as ingredients of burger or type of materials for cars.

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#4625
  1. How does blockchain enable digital provenance? Because it is a public ledger and all data are traceable for anyone.
  2. Why doesn’t a normal database bring the same provenance? Because you need somebody who owns that date, has access to it and has the possibility to manipulate it any time.
  3. Why is digital provenance such a great benefit to many businesses? Because it establishes a trustless environment in the land of strangers.
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#4626
  1. How does blockchain enable digital provenance?

Blockchain is a transparent system. By keeping the chronological order of operations/transactions, being append-only and decentralised(no possibility for data to be lost), it allows everyone to check the validity of the information.

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

The normal database is non-transparent and centralised. There is a risk of info to be altered/deleted etc.

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

Digital provenance is a great tool, allowing everyone to claim and verify the info about the product/service (origin, owner, creator etc.) It is actual for the music contracts, real estate, patents, food, cosmetics and clothing industries etc.

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#4627

  1. Provenance is enable by the property that you can only add to the “database” not remove and that it is not centralized so there is no one single entity that has to be “Trusted”.

  2. Normal databases are centralized and can be modified by people with enough permissions so people have to “trust” the owner of the database, and even if it was like public, there always is a person in charge and will be able to remove things.

  3. They can track everything to ensure the quality of the products they receive, sell, re-sell…

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#4628

  1. Real time record. Not able to delete the record which has been added.

  2. Able to delete the database. Expensive.

  3. Trustless and able to perform real time audit.

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#4629
  1. Transactions can only be added, not removed from the blockchain, meaning data cannot be manipulated.
  2. Normal databases are centralised and those that control it can manipulate the data entries
  3. Companies can build customer trust by verifying the quality of the products through accurate traceability.
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#4630

  1. All information about transactions that happen in blockchain are stored in ledgers that are distributed around the network. Every new transaction is verified by the data stored in ledgers. The copies of ledgers around the network have to match each other, and the transaction data has to match with the existing data in ledgers.

  2. Normal databases are built on trust: they can’t compare or verify stored data in such way that is possible in a network of computers of a blockchain, where all the ledgers have to match.

  3. Businesses don’t have to rely on trust anymore, because actions and transactions for example throughout a supply chain idealistically become transparent and can be tracked and verified in real time.

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#4631

  1. How does blockchain enable digital provenance? - Allows people/businesses to track all financial transactions in real time through auditing

  2. Why doesn’t a normal database bring the same provenance? - A normal database doesn’t have blockchain technology to verify in real time

  3. Why is digital provenance such a great benefit to many businesses? - Allows for financial processes to become more proficient and able to verify transactions and remove trust using math & data

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#4632
  1. Blockchain is a historical record of information. it tracks changes to data, it keeps a ledger of origin to destination of data and who makes changes to it over time.
  2. A normal database can be altered by anyone with access without keeping track of changes made. It has no inherent history.
  3. It offers verifiable data without relying on trust. The information is secure, transparent and accurate which is beneficial for customers and businesses
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#4633
  1. How does blockchain enable digital provenance?
    It’s public - anyone can see it. It cannot be manipulated, it an only be added to, not removed.
  2. Why doesn’t a normal database bring the same provenance?
    It can be governed or changed without any record of it changing.
  3. Why is digital provenance such a great benefit to many businesses?
    It removes the need for trust in others. You can verify things yourself.
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#4634

1… Blockchain enable digital provenance hrough a unique code there is written in on various computers or points. This code cannot be deleted or changed.

  1. A normal database is centralized. The people that have access to it can not only add data, but also change or delete data. Because of this a normal database doesn´t bring the same provenance as blockchain.

  2. Blockchain is more trasparent compared to other types of databases. However, it is still possible to restrict access to some data for a specific group. Blockchain is more secure because the same data are allocated at several decentralized computers and the data cannot be changed or deleted, and this also provides absolute provenance.

There is also an element of Increased efficiency and speed and reduced costs.

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#4636
  1. Blockchain is an immutable ledger of all transactions. it uses a public ledger of all transactions that need to be accepted across the board.
  2. Normal database can be corrupted or changed. It doesn’t keep track of the history of the data in itself. information can be changed without everyone agreeing with it.
  3. It allows for easy fiantial or business information to be tracked and simplifies the audit of the company. It also validates all transactions and publically shows them.
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#4637

  1. By always being available, having a add only database which is decentralized, that saves all transactions.

  2. You can manipulate the data, it is not decentralized.

  3. Makes accounting cheaper and easier. Can merge all transaction information.

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#4638
  1. It does this by not being able to remove data, only ad.
  2. In a normal database you will be able to remove data.
  3. You can track all the transactions back to the first entry in the blockchain. This way businesses don’t have to rely on trust. Instate they can now verify.
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#4639

Homework - Provenance
How does blockchain enable digital provenance?
•Blockchain enables digital provence by being able to keep a ledger of all transactions within a database that is open for the public to see.

Why doesn’t a normal database bring the same provenance?
•A normal database doesn’t bring the same provence because it doesn’t allow you to combine the accounting and transactions all merged together. Therefore, making it less efficient.

Why is digital provenance such a great benefit to many businesses?
•Digital provence benefits businesses because it can make every part of the product transparent. It operates as a trustless entity when each transaction is able to be verified from beginning to end.

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#4640

  1. How does blockchain enable digital provenance?
    Because blockchain is a decentralized public ledger which can only be added to, and not deleted, which allows transactions to be tracked and verified.

  2. Why doesn’t a normal database bring the same provenance?
    A normal database is centralized, which can be manipulated by the owner and is based upon trust.

  3. Why is digital provenance such a great benefit to many businesses?
    Digital provenance removes the element of trust, by enabling anyone to verify the transactions on the public ledger. Additionally, this removes the need for an external auditor, and combines both accounting and transactional layers.

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