Homework on Provenance - Questions

Blockchain and Bitcoin 101
#5082
  1. By having a decentralised public ledger where each transaction (token, coin…) can be traced back in time. Anyone with the right setup can do this anytime.
  2. Databases are centralised, can be edited and don’t have cryptographic mechanisms to validate transactions.
  3. Don’t trust, Verify. Being able to make transactions transparent throughout an organisation is huge. Just think of political campaigns, charity donations, supply chains. It is like being able to track every single dollar at all times.
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#5083

How does blockchain enable digital provenance?

  • Blockchain technology data is copied and distributed on network of computer nodes around the internet. This makes the transactional data immutable as it can not be changed since multiple copies exist. The maths, hashing, enables a unique identity for all transactional data which can not be changed without re hashing and copying to all nodes. Hence any attempted fraud or hack would be picked up immediately. Also; the required data for the protocol e.g. OriginTrail is identified to provide a universally accepted standard to achieve the required level of detail (and data definition) for “opacity” of information needed by the use case. This methodology leads to TRUSTLESSNESS.

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

  • A normal (non distributed database) can be hacked, since the information is stored in just one place, data can be changed and with no evidence i.e. “audibility” without a prohibitive amount of effort being put forth. The integrity and TRUST in the stored transactional data is therefore a major issue, as is DB security. There maybe no hashing per se, but if there is, it can be recalculated. It’s not safe. Confidence is low.

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

  • There a many distributed applications in business e.g. Origintrail addresses a global supply chain. It could just as easily apply to automotive industry, Consumer good, Pharmaceutical … The fundamental requirements for Transactional and Audit-able data can be met through blockchain technology. The variety of possible Business Use Cases (projects) limited only to the imagination. The whole set of transactions and accounting (tracing) can be easily followed through the linked block chain and the unique hashes. This gives enormous confidence to project Business Owners et al, providing a guarantee of authenticity, ownership and provenance that are proven and can be met in the standard.

The whole thing is VERIFIABLE.

Regards GreggyB.

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#5084

  1. How does blockchain enable digital provenance?
    -on the blockchain you can track transactions in real time

  2. Why doesn’t a normal database bring the same provenance?
    -because the information is in different places

  3. Why is digital provenance such a great benefit to many businesses?
    -provenance is all about being able to track something. It is a trustless system

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#5085
  1. It provides an immutable ledger.
  2. A normal ledger can be altered, replaced, and lost.
  3. Because they have real time access to a verified ledger of data.
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#5086
  1. How does blockchain enable digital provenance?

Blockchain is basically a database that has a public ledger, which as the name already tells is public and everyone can look at the transactions, from where they come and to which addresse they are going to. Because of that blockchain is very transparent and there is no trust involved, like with lots of centralized algorithms, where you have to trust the supplychain, because you just can´t check. In blockchain you can just simply verify yourself by checking the logs.

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

Normal databases are centralized, which means there is always a middleman who controlls the informations and the information in the database is only available for officials, who have the authority to do so. Furthermore normal databases aren´t linked to other factors, like the supply chain and you just simply can´t check if the given information is correct, you have to trust. Never trust, VERIFY!

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

Ofcourse blockchain plays a huge role in cryptocurrencies, but it also has a usecase in different parts. Companies, could integrate blockchain and use it as their new database to avoid big struggles like for example the need of trust overall. As already mentioned you can just look at the transactions and verify everything through checking the public ledger.

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#5087
  1. Blockchain enables digital provenance because it it is a distributed ledger and there is no one point of failure, such as a database hosted on one server.
  2. A normal database can be edited.
  3. The great benefit to business is real time auditing.
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#5088

  1. Blockchain is a database that can only be added to but not removed from. The transactions that are processed on the blockchain are open to the public. Thus, digital provenance is enabled by blockchain by its availability to the public and its ability to keep the original code encrypted and unmodifiable.

  2. A normal database is able to be modified and changed, thus, a normal database would not be reliable for digital provenance.

  3. Digital provenance is a huge benefit for businesses because it removes the “trust” factor from transactions. Thus, making transactions more reliable to customers/consumers.

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#5089

1- How does blockchain enable digital provenance?
By storing digital information in the Blockchain about the product or a service, which demonstrates (proves) the authenticity of the records of a product (or a service) throughout its journey from the provider (supplier or producer) to the end customer/user. i.e. from the time of its inception to its consumption or use.
2- Why doesn’t a normal database bring the same provenance?
A normal database resides on one or a few computers or a network(s) and there is one copy of the database at any one time, which can be changed by anyone that have access to the database, while a copy of a Blockchain can reside on many nodes (computers, networks) and all copies have to be 100% identical; therefore it is impossible to change all the copies of the blockchain by a single user at once; hence it is more secure.
3- Why is digital provenance such a great benefit to many businesses?

• It provides transparency in product supply chains,
• Enables secure traceability of product from origin to end customer.
• Enables physical non-physical products and services to be certified by all supply chain parties.
• Provides auditable records and information of the journey behind products and services.
• Provides a certificate of authenticity of products and can prevent the selling of fake defected goods and services.
• Consequently, all companies and parties involved provide higher standard of product and services.
• Raises confidence between all parties throughout the supply chain.

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#5090

  1. How does blockchain enable digital provenance?
    It enables it with public access that is possible to audit and backtrack stored immutable data.

  2. Why doesn’t a normal database bring the same provenance?
    Databases are usually centralized and easily controlled, data can be overwritten by authority or one counterparty.

  3. Why is digital provenance such a great benefit to many businesses?
    Allows to check and track down stored data at any point of time, removes middle man, allows to create trust between counterparties.

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#5091

  1. By having a public ledger where all data/transactions are traceable and cannot be edited/removed.

  2. Because a normal database would probably be centralised (owned/controlled by someone or group) and would be editable.

  3. All transactional details are stored, cannot be edited and are publicly visible, therefore, colleagues/clients/customers, etc. do not have to rely on trusting what the business says, when everything can be verified.

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#5092
  1. How does blockchain enable digital provenance?
  • Blockchain enables access to an open and verifiably immutable transaction ledger.
  1. Why doesn’t a normal database bring the same provenance?
  • a centralized database can be too easily manipulated.
  1. Why is digital provenance such a great benefit to many businesses?
  • Digital provenance is useful for real time auditing and for transactions and for supply chain verification, for all verifiable financial contracts and commerce, like insurance, lending, borrowing, interest bearing accounts, securitization, derivatives trading, etc, etc.
1 Like
#5093

Homework on Provenance - Questions

  1. How does blockchain enable digital provenance? By being immutable, transparent, accessable and distributed to all operating nodes.
  2. Why doesn’t a normal database bring the same provenance? A normal database can be manipulated by the administrator, is not generally distributed, and not easily accessible by all.
  3. Why is digital provenance such a great benefit to many businesses? transparency in logistics and supply chain and makes audits obsolete for the most part
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#5094

Blockchain enables digital provenance by storing data that cannot be changed. This makes any process verifiable. It enables digital provenance with transparency. For example carton that is claimed to be made with FSC certified wood can be audited at any moment by anyone just by ‘‘following the money’’.

‘‘Normal database’’ is supposed to have the same provenance. Meaning it should be traceable and verifiable. It is obviously not transparent to the public and is largely carried on the shoulders of trust. It is traceable only to a certain extent (company that buys wood has to rely on paperwork provided by the seller and the end consumer has to rely on the FSC sticker on the packaging to trust that product was produced from ethical material).

Digital provenance can largely benefit businesses in their partnerships with other companies (manufacturers, suppliers etc) as it will take trust out of equasion. It can also help with self-auditing, with keeping an eye on money flow and minimizing risk of fraud by associates for example.

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#5095
  1. It allows for accounting and auditing (tracing) to be accomplished in real time.
  2. They can be edited. Trust must be established. With provenance, an audit is “trustless”.
  3. The availablity of real time audit. Trustless and faster audits can be performed.
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#5096
  1. How does blockchain enable digital provenance? Data posted to a blockchain is encrypted and immutable. Therefore hacking or changing the data is nearly impossible without detection.
  2. Why doesn’t a normal database bring the same provenance? Normal databases are centralized and data are often posted after-the-fact (not real time). This can increase the chances of entities falsifying entries in the database.
  3. Why is digital provenance such a great benefit to many businesses? It provides a source of truth that can be verified at each stage of a business process. More importantly provenance eliminates the need and expense of costly audits.
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#5097

  1. If you think of each block in the chain as a digital stone where data can only be added and not removed you can go all the way back to the first stone in order to verify the origin, thus giving the data provenance in that it is able to be traced back to its origin.

  2. A normal database is centralised, while each participant on a blockchain has a secure copy and record of change and each user can see the provenance of the data. If there is an inconsistency, blockchain technology will correct the information because the data is verified between all users on the blockchain, thus making it trust-less and automatically verified. A centralised data base could contain a false entry which is not verified and immediately corrected, like in a blockchain and, therefore the provenance is not the same as on a block chain.

  3. Because the data becomes trustworthy, as it is being verified at every point on the block chain.

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#5098
  1. By enabling the tracking of goods and services in a way that cannot be changed or tampered with once data is added it cannot be removed.
  2. Normal database does not bring the same provenance because the data could be altered or changed at any point in the chain.
  3. It allows for real time auditing and the ability to track where a product has been and what materials or ingredients are in it.
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#5099
  • How does blockchain enable digital provenance?
  • It enables digital provenance by taking a network of computers and distributing a ledger among them all. Not only that but the ledger then verifies all transactions against itself. Transactions cant be removed and can always be traced back to a source.
  • Why doesn’t a normal database bring the same provenance?
  • In a normal database a ledger is help by a central authority and is not made public, because of this you can erase or remove transactions as you please.Not only that but the ledger is not verified mathematically, but rather has to be taken at face value and then audited for accuracy.
  • Why is digital provenance such a great benefit to many businesses?
  • Provenance is a great benefit to many businesses because it allows for verifiable transparency. You dont have to blindly trust a company, but you can verify that what they say and do is true. Everything from supply chain, to financial records becomes more efficient and transparent through blockchain.
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#5100
  1. There is no trust, but only verification
    You can only add data, not remove it (like writing in stone)
    you have a public ledger, tracking all transactions
    and a network of computers (nods I believe) that have to verify each transaction
  2. Because in normal database things can be removed or copied
  3. 100% trust removed to verification
    100% tracking of all transactions
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#5101

It is decentralized thats why trust less. The data cannot be changed in Blockchain

Any authority can control it

Customers do not have to trust, everything is verified.

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