Homework on Provenance - Questions

[Sharon]

1; How does blockchain enable digital provenance?
Blockchain is a real time database, or ledger, that only allows the addition of transactions, nothing can be removed. Transactions are verified by a network of independent computers. It is decentralised and immutable thus creating an accurate record of past transactions - financial or supply chain for example.

2. Why doesn’t a normal database bring the same provenance?
   A normal database is usually controlled by a centralised organisation or government who can collect, use and exploit the data for their own purposes. The data is alterable by anyone with access and unverifiable. Fraudulent transactions can be later added or deleted.

3. Why is digital provenance such a great benefit to many businesses?
   All transactions are recorded and verifiable, thus a business can track and use all transactions in accountancy, tracing of products, supply chain management etc. This can be done automatically and in real time thus efficiently and at low-cost. Current and future developments could include instant accounting, and real-time management of inventory and raw materials. It removes trust from the process thus creating transparency in supplier activity and reducing fraud, inefficiencies etc.

[Cero]

1. How does blockchain enable digital provenance?
   With storing origin data/information on the block. There is only possible adding information.
2. Why doesn’t a normal database bring the same provenance?
   Normal database does not provide trustless transparency. It is also centralized. someone can change datas to satisfy consumer for example.
3. Why is digital provenance such a great benefit to many businesses?
   It is solving trust problems, it is safe and traceable

[MohammedElissati]

1. Blockchain is a public ledger, meaning all financial transactions are public and real-time. There is no central authority and no need for a third party, such as PWC/Deloitte/… to audit transactions.

2. A normal database is based on trust that the supplier and the people who entered the information in the database are correct. In the crypto world, we say ‘Don’t trust, verify!’

3. Trustlessness is key here. One can rely on the blockchain for the transparency of real-time data. No need to involve a third party.

[K-in-Bath-UK]

1. Immutable and (on open ledgers) visible, verifiable data
2. databases owned by a central party, open to change, not generally open
3. enables supply chain auditing and due diligence checks without relying on 3rd parties

[Rmccoul]

1. How does blockchain enable digital provenance?
   Blockchain enables digital provenance by tracking the history of all transactions (having an origin trail) , also having a public ledger for all to see.

2. Why doesn’t a normal database bring same Provenance?
   A normal database is not decentralized, allows removal of transactions, and is not as secure.

3. Why is digital provenance such a great benefit to many businesses?
   Digital provenance is such a great benefit to many businesses because you can trace the history from origin to the end or final destination, knowing exactly what is in a product or where it has been; all transactions are verified, and it’s more efficient with real time auditing.

[Serpentacus]

1)

Blockchain is an immutable* data structure, “a digital stone”, in which you can add data, but cannot remove data: i.e. objects whose properties cannot be changed after its creation . In other words, it is a digital public ledger that is used to track all transactions. This tracking system is called digital provenance. It is utilized to verify and confirm the place where Bitcoin originally began and then record trace the ownership history of those coins to identify in real-time their current place in data network. That is to say, it is a completely decentralized system that does not require trust because it rather verifies the existence of coins in their current place through mathematical matchings.

2)

There is absolutely no record tracing system in traditional transactions to verify accounts. Prior to digital provenance, people had to resort to trust the third-party, and Trust is not 100% guaranteed confirmation . Unfortunately, due to the lack of provenance in centralized finance, transactions can be altered, modified, erased, or allocated elsewhere; thus, making impossible to trace them back. It’s like you depositing $100 into your bank account and while you trust Mr. PiggyBanks your money, he without your consent had already lend out $90 to another bank and left $10 in the reserves. In short, central authority have given themselves the freedom to manipulate the database to suit their own interests. In summary, this is a very opaque system.

3)

The great benefits of digital provenance is the fact that it is transparent and also prevents hacking, it eliminated the need for the middle man (i.e. central authority) in all transactions, no longer requires trust due to the fact that its verification process is entirely objective and based on solving mathematical equations, and this overall at a very minimal cost makes transactions way more efficient and faster than “normal” databases. Furthermore, this accurate tractability provides the ability to real-time auditing for customers, and also the completely verified assurance that the customer knows that the product they wish to acquire is what it said to be in quality and came from where it was said to come from. Last but not least, digital provenance also solved the accounting problem for every transactions by combining the two into one system; so it not only tracks transactions, it also refreshes the data in your account balance after each transaction. Meaning: if you sent your Bitcoins to your pal, then that money is no longer in your wallet and you cannot reserve it to get them back.

[ENRI_O]

1. Blockchain enables digital provenance by showing every transaction through a public ledger where nothing can be erased.
2. A normal database doesn’t bring the same provenance because it can easily be changed and relies on trust.
3. A digital provenance is such a great benefit to many businesses because it shows their customers what is in their products which gives the customers more trust in the business.

[rachel]

my first homework… i welcome advice as im so new to this!

1. blockchain enables digital provenance by securing encrypted transaction information,(layers of data) on servers/ledgers, the data cannot be destroyed or changed and is traceable, all points of transactions can be verified by a network of computers, making it transparent and trust less

2. traditional databases do not use blockchain technology and rely only a closed/central control source, or few key users. data and information can easily be manipulated, or deleted, making it hard to trace and verify through transaction history

3. digital provenance will benefit many businesses as blockchain enables transparency and immutability, allowing for real time auditing, making working life safer, faster and easier. being able to trace back information on supply chains, or confirm the years financial figures match up removes having to trust, and will also help create more ethical responsible practice.

[andrequintino]

1. How does blockchain enable digital provenance?

Blockchain is a digital public ledger where you can see and track every transaction. But the amazing thing of blockchain is that you can use this technology not just for tracking currency transactions, but for everything else you want.

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

Normal database doesn’t bring the same provenance because is not automatic and is not immutable. With blockchain technology you can be confidante that the database is correct.

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

Because you don’t depend anymore on human trust. You just depend on a decentralized network in that everyone works and ensure that everything is correct and not wrong changed.

[msadler]

1. How does blockchain enable digital provenance? It enable digital provenance by keeping a record of all transactions
2. Why doesn’t a normal database bring the same provenance? Because you have to “trust”. There isn’t visibility to all transaction history
3. Why is digital provenance such a great benefit to many businesses? It gives customers of the business visibility into their products. It provides complete transparency

[Sedna]

1. How does blockchain enable digital provenance?
   It enables provenance by only allowing to add data to the blockchain and being traceable and transparent. No need for trust, only verification by multiple nodes.

2. Why doesn’t a normal database bring the same provenance?
   Because it involves trust and not verification. It is opaque and can be easily manipulated.

3. Why is digital provenance such a great benefit to many businesses?
   It provides transparency to the products. Everything can be traced and everything is recorded in the blockchain making it impossible to erase, change or duplicate.
   It also removes the need for middle men, saving a lot of time in the process.

[pronn]

1. Because it supplies a cryptographically secured audit trail. And transactions to the chain are immutable.
2. A normal database is not immutable and can be manipulated.
3. It removes the necessity of trust between involved parties. Instead transactions can be verified.

[ursinade]

1. the blockchain is essentially a decentralised, public database where all transactions are recorded but cannot be altered or deleted, thus everything is traceable and transparent.

2. a normal database is not immutable, also it is administered by a central authority who could possibly tamper with the data

3. because they do not have to rely on the word of others anymore, or in other words, they do not have to trust, they can verify

[mehtsrai]

1. Blockchain is a database a public ledger where you can add transactions which are unable to be changed. Blockchain allows for transactions to be tracked/traced in real time – tracked and logged onto the public ledger.
2. Other databases can’t be verified - they are open to changes whereas blockchain is not, they are not decentralised.
3. Trace all transactions in real time, this will save money and time. You won’t require a lengthy audit for example – blockchain allows you to put together the accounting and transaction layer in one transaction on blockchain.

[TheEcoDog]

1. How does blockchain enable digital provenance?
By having a distributed/decentralised public ledger on the blockchain, there are multiple miners that can confirm a transactions authenticity, and everyone can view this, providing true transparency.

2. Why doesn’t a normal database bring the same provenance?
Because it can be manipulated, e.g. data can be removed

3. Why is digital provenance such a great benefit to many businesses?
Real-time audit at the transactional level, with full transparency resulting in trustless transacting, fewer counterparties and reduced costs.

[ohsalmeron]

1- By validating each transaction we can know where everything comes from
2- A normal database might not have enough information and same level of transparency as it is required in a blockchain
3- Transparency, leaving no room for dishonesty

[Andres83]

1. How does blockchain enable digital provenance?
   By being a public system that records all transactions in to a inmutable database thats shared and confirmed by a decentralized net of computers that verifys every track
2. Why doesn’t a normal database bring the same provenance?
   Because normal database are simple not public traceable and you have to rely on what the owners of that database are telling you is true.
3. Why is digital provenance such a great benefit to many businesses?
   Blockchain technology fixes the gap between acountable data and transaction data providing a system that allows both data in to a 1 same automatic system gaining steed and acuracy

[BRYNCHICO]

1. How does blockchain enable digital provenance?
   Blockchain enables digital provenance because every single transaction can be traced to it’s very origin.

2. Why doesn’t a normal database bring the same provenance?
   A normal database is mutable. There is little to no security keeping bad actors from changing the transaction to fit their agenda and requires way too much trust between parties without actually being able to verify true authenticity.

3. Why is digital provenance such a great benefit to many businesses?
   Businesses will now be able to verify that the product they are receiving or selling has a traceable origin that can be verified as true without the need to trust that someone hasn’t changed anything to their pleasing.

[R_G]

1. By means of distibuted ledger
2. Because the data on it can be manipulated
3. Because it is trustless

[Divesh]

1. How does blockchain enable digital provenance?

Since the blockchain is immutable, anything recorded on it will be traceable for verification.

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

A normal database is not trustless. The creator of the database can always change and manipulate the data, which means you cannot trust nor verify the information in the database.

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

Digital Provenance allows companies to be as transparent as possible by being able to trace, track, and verify everything about the product they’re selling; this then allows their customers to trust them as well.