Homework on Provenance - Questions

Blockchain and Bitcoin 101
#5142

How does blockchain enable digital provenance?

Blockchain works as a decentralized database which is verified by numerous members in the ledger network. Transactions have to be verified by the other ledgers.

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

In comparison to normal databases, Blockchain only allows “input”. Due to the mandatory verification of the other ledgers, manipulation by a single player is not possible.

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

The digital provenance leads to real time auditing. Accounting and financial layer are synchronised. This results in constant verificiation, where trust is no more needed. Suppy Chains can significantly benefit from the constant tracing and tracking of goods and ressources.

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#5143

  1. Blockchain enables digital provenance by serving as an immutable database on which data can only be added and not be removed, it is decentralized where additional transactions are verified by a network of computers who validate the possibility of these new transactions, ignoring false data input. As it concerns a public ledger, every transaction is traceable and can be followed from origin to destination creating a trustless environment.

  2. A normal database is controlled by a central authority who can possibly change data from the past; transactions could be removed or modified. Its provenance characteristic mostly relies on trust of its users where on a blockchain trust isn’t required because it concerns an immutable decentralized database.

  3. The benefits vary depending on the nature of the business but in general it allows businesses to be fully transparent with their customers creating high trustworthiness in the process. Additionally it allows for real-time auditing to take place which in itself leads to reduced costs and ease of operations.

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#5144
  1. How does blockchain enable digital provenance?
    It is a so called “digital stone”, where you are able to add data but cannot remove.
  2. Why doesn’t a normal database bring the same provenance?
    A normal database has several negatives: centralized, we need to have trust and make backups. It can be easily modified or deleted, however with blockchain, these negatives can be eliminated.
  3. Why is digital provenance such a great benefit to many businesses?
    As Ivan said it can put together the accounting and transaction layers for example.
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#5145
  1. Blockchain enables digital provenance but it enables tracking of goods or transactions digitally due to supply chains being interconnected.
  2. Normal databases do not bring the same provenance because all of the pieces have their own ledger.
  3. Digital provenance is a great benefit because it builds trust and opaqueness. Digital provenance also gets rid of unnecessary pieces and enables real-time auditing. In normal systems, you need to save receipts and have a less efficient process.
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#5146
  1. How does blockchain enable digital provenance?
    Do to functionality that blockchain has that you can add but not remove or erase data the provenance of any product, asset or service is guaranteed.
  2. Why doesn’t a normal database bring the same provenance?
    Because the normal databases are centralized, and therefore the information cannot be fully audited by outside intervenients.
  3. Why is digital provenance such a great benefit to many businesses?
    Ensures fully transparency in the entire process of the business.
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#5147

  1. blockchain enables digital provenance by working with a decentralized network of verification, where all interactions are saved in each node of the network. this means that every interaction in the network must be verified by the majority of the the network in order to be accepted.

  2. a normal database doesn´t bring the same kind of provenance, because it may only exist once and is therefor easier to manipulate.

  3. digital provenance provides a system for businesses where interactions, labels, origins don´t rely on the trust of one database but are verified by the network. this guarantees a higher form of quality and certification for products and services.

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#5148

  1. By being able to trace all the transactions on the public ledger, which is unhackable, for now.

  2. Because it is is backtrack editable.

  3. Removes “trust” factor between players and introduces trustless solution.

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#5149
  1. The blockchain enables provenance by capturing transaction data and accounting data (transfer of ownership and history of ownership) simultaneously.
  2. In a normal database transacting and accounting are separate functions and requires high trust to implement and maintain.
  3. Digital provenance allows for real-time auditing with little trust and strong verification.
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#5150

PROVENANCE

1. How does blockchain enable digital provenance?
Provenance allows transparent tracing in real-time, where consumers don’t trust, but verify all transactions. They utilize Blockchain’s technology, which is a network of computers called public ledgers to verify these transactions. Blockchain aka, digital stones, works by adding (not removing), data to the visible chain.

2. Why doesn’t a normal database bring the same provenance?
Normal computers are centralized, non-transparent and relies on trust rather than transparency and verification.

3. Why is digital provenance such a great benefit to many businesses?
Businesses can track/trace the supplies of their goods from purchase to delivery.

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#5151

  • How does blockchain enable digital provenance?
    A. Blockchain enables digital provenance by being a digital stone database where you can only add and not remove transactions. As the ledger is open anyone can view it and therefore be verified.

  • Why doesn’t a normal database bring the same provenance?
    A. A normal database allows you to add and remove transactions which can be manipulated.

  • Why is digital provenance such a great benefit to many businesses?
    A. It allows business audit i.e. to track their accounting layer and transactional layer all in real time.

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#5152
  1. By a decentralized network with immutable public information.
  2. Because centralized databases are not immutable nor fully transparent, so trust is required.
  3. Improves the reliability and transparency of supply chain.
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#5153

1. How does blockchain enable digital provenance?

The blockchain enables digital provenance using a immutable trustless series of networked nodes that have the sole purpose of confirming every event and all information added to it forever. Due to the constant reverification of this data in every future event added to the blockchain it becomes even more immutable. With it being virtually impossible with current technology to alter all nodes before other nodes cancel the incorrect data point it generates a version of provenance unattainable in the past.

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

As a traditional database is a stand alone block of information it is easily altered from a single entry point and has little to no forms of verification occurring. Other than perhaps a remote backup of the data. Which could be altered as easily as the original. Also these databases must be hidden and protected as they are not constantly reverified the way a blockchain is. This making them antiquated as well as vulnerable to error, fraud and degradation.

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

It removes the percentile of human error that comes with constant auditing and verification of databases. As well creates a public always accessible chain of custody that is unquestionable. A greater speed and efficiency is also able to be reached due to the trustless nature of the blockchain. From supply chain to database management it offers the best version of provenance ever created for accountability and verification.

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#5154
  1. How does blockchain enable digital provenance?
    By providing an independent, immutable record, where every transaction is verified on a distributed ledger.
  2. Why doesn’t a normal database bring the same provenance?
    Normal databases are controlled by some form of a central authority that may manipulate the data.
  3. Why is digital provenance such a great benefit to many businesses?
    It removes the variable of trust and can also speed up verification processes and also reduce costs since there is no need to pay for 3rd party services.
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#5155

  1. How does blockchain enable digital provenance? BY BEING TRANSPARENT. IN BITCOIN CASE OTHERS CAN SEE THE TRANSACTION AND ITS RECORDED ON THE “LEDGER”

  2. Why doesn’t a normal database bring the same provenance? BECAUSE YOU HAVE TO TRUST THAT THE CENTRAL ENITIY DOES NOT USE THE DATABASE IN A MALICIOUS WAY.

  3. Why is digital provenance such a great benefit to many businesses? FOR CURRENCY TYPE OF TRANSACTION, IT IS BENEFITAL THAT THE BUYER AND SELLER CAN TRADE WITHOUT RELAYING ON A CENTRAL “BANK” (E.G. CREDIT CARDS WILL USE MASTERCARD)

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#5156

  1. Blockchain is a database composed of a network of computers wherein data is publicly accessible. This allows anyone to track anything within the database which allows for the use of provenance.

  2. A normal database does not bring the same provenance because the transaction and accounting parts are not on the same page. Also, it takes time to audit the transaction and only licensed auditors can do that, not everyone.

  3. Digital provenance allows a trustless economy or environment wherein you can verify every transaction and avoid getting scammed.

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#5157

1.blockchain enables digital provenance by it being an immutable public ledger that could be verified and tracked.

2.normal database is centralized to a primary location where as blockchain everyone has a copy of the database so it can be verified and tracked.

  1. Digital provenance builds trust amongst its users/customers and be able to track quality and be more accountable.
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#5158

  1. How does blockchain enable digital provenance?
    Through it being an open database of all transactions made.

  2. Why doesn’t a normal database bring the same provenance?
    It can be manipulated and corruptable.

  3. Why is digital provenance such a great benefit to many businesses?
    It’s faster, reliable and removes additional manual work between accounting and transactions.

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#5159

  1. How does blockchain enable digital provenance? | Blockchain enables digital provenance by allowing all transactions to be traced back to where they originated, as well as the fact that all users of the blockchain can simply copy the blockchain onto their device, allowing for everyone to see everything.

  2. Why doesn’t a normal database bring the same provenance? | In a normal database where everything is controlled by a single entity, all information is not traceable, as well as the fact that not everyone gets to see what’s going on.

  3. Why is digital provenance such a great benefit to many businesses? | Because with everything being traceable, businesses can track their entire supply chain, beginning to end.

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#5160

  1. By offering data in a decentralized way and in real time on the blockchain. It is a trustless system

  2. It can not provide multiple information layers in one transaction. The data is not trustless, it can be easily manipulated. It is slower.

  3. It provides a trustless system where data only needs to be verified. Tampering with and manipulating processes in the supplychain become a thing of the past.

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#5161
  1. How does blockchain enable digital provenance?
  • Blockchain enables digital provenance via its lack of a data removal tool. Thus, all records from the most recent all the way back to the very first exist and are accessible. This allows a user to see every single change a block in the blockchain has ever undergone.
  1. Why doesn’t a normal database bring the same provenance?
  • Normal databases have data removal tool, mostly to allow for error correcting or dated data removal, but the same tools can be used to hide previous issues or data.
  1. Why is digital provenance such a great benefit to many businesses?
  • It removes the entire Company-Consumer trust relationship and allows businesses to show their merit with nothing but their product.
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