Homework on Provenance - Questions

Blockchain and Bitcoin 101
#5162

[quote=“ivan, post:1, topic:8423, full:true”]
Homework on Provenance - Questions

  1. How does blockchain enable digital provenance?
    Blockchain (bc) technology can be used to track any kind of transaction that is stored in the blockchain, such as:
    a) financial transactions: it enables auditing in real time at any place in the world whereever you may have access to the chain. bc increases the efficiency of financial as it combines both accounting information & transaction information
    b) supply chain transactions, e.g. ingrdient in food or in any industrial manufactuting (e.g. cothes)
  2. Why doesn’t a normal database bring the same provenance?
    Normal DB = centralised data vs. blckchain = decentralised data. Concerning the data in the normal DB you have to trust the (single or few) person(s) who control(s) the DB for both current and also historical data. The data stored in blockchain is inherently proved by the network and unchangeable so that no trust is needed.
  3. Why is digital provenance such a great benefit to many businesses?
    It’s trustless, you are not depending on a bank or a supplier, or sub-sub-…supplier. No third party needed, it provides first hand information in real time, anytime, anywhere
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#5163

  1. Blockchain enables digital provenance by being stable and unalterable. Blockchain is a “public ledger” where anyone can trace, track, and confirm all transactions made.

  2. The average and most common database that the public currently uses is centralized, which makes it prone to manipulation

  3. The structure is no longer dependent on trust. Businesses will then have transparency, where you can verify and prove the entirety of a transaction

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#5164
  1. How does blockchain enable digital provenance?
    All transactions are listed on the public ledger… all the data you need to track, confirm, or account for something are available to everyone.
  2. Why doesn’t a normal database bring the same provenance?
    Normal databases are centralized which allows for corruption… i.e. manipulating data.
  3. Why is digital provenance such a great benefit to many businesses?
    Digital provenance is a great benefit to many businesses because it provides transparency, the accounting and financial pieces are both on the blockchain, and it removes possibility of corruption.
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#5165

  1. Everything is Trustless, Nothing is Private. You can’t erase data, only add. Accounts and transactions are together so it is easier to track.

  2. In a normal database there is a lot of trust involved you cannot track an item to its origin point, it is a very opaque database.

  3. Digital provenance is better cause you don’t need to trust the person.

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#5166

  1. How does blockchain enable digital provenance?
    You can trace all the transactions that ever happened on the blockchain, and therefore it’s easy to verify everything instead of trusting a third party.

  2. Why doesn’t a normal database bring the same provenance?
    Data in normal database can be changed or deleted, while data on blockchain are there “forever” and every user of a blockchain has a copy. So it can’t be manipulated.

  3. Why is digital provenance such a great benefit to many businesses?
    Business can easily verify provenance of every transaction on blockchain and avoid potential fraud, or incorrect information. It’s easy to audit everything.

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#5167
  1. How does blockchain enable digital provenance?
    Incorruptible and unchangeable real time record, anyone can see. Decentralization prevents a central authority from data theft or editing.
  2. Why doesn’t a normal database bring the same provenance?
    With regular databases, extremely easy to lie + very trust based. No one can corrupt data with digital provenance, and you can see where everything comes from.
  3. Why is digital provenance such a great benefit to many businesses?
    Trustless system. You can see if someone is lying.
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#5168

  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?

  4. Track and Trace. An immutable ledger of transactions that cant be altered and can be tracked back to origin.

  5. A normal database can be changed and manipulated.

  6. For the transparency. Efficiency. Trustless Environment .

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#5169

  1. By making it decentralized and binding all the data on the blockchain its now a trustless system. the
    provenence is always providet.

  2. because there is lot o trust needed in real banking system. its manipulable.

  3. you can real time audit ever transaction.

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#5170

  1. How does blockchain enable digital provenance?
    It enables digital provenance as it is a trustless public ledger managed by multiple decentralised nodes where information can only be added and not removed

  2. Why doesn’t a normal database bring the same provenance?
    Normal databases are usually centralised in nature meaning they can be changed or hacked easier

  3. Why is digital provenance such a great benefit to many businesses?
    Allows business to track where their supplies are coming from

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#5171
  1. How does blockchain enable digital provenance?

Blockchain enables digital provenience by creating a trust-less decentralized network. A digital “stone” or public ledger that you can add to but not remove transactions

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

Data can never be lost on the Blockchain. Normal database has transactions and accounting layers separate vs blockchain is all on one layer. Trust vs blockchain can verify.

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

All transactions can be traced and audited real time. Improve accounting and productivity among other benefits

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#5172

Homework- Provenance

  1. Near instantaneous data up that cannot be removed.
  2. Centralized database results in 3rd party intervention. Heavily reliant on trust. Lacks Transparency.
  3. Business simply requires verification. Transparency.
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#5173

  1. Blockchain is a database of digital “stones” where you can only add things but you cannot remove them. This means that all the information (transactions) are stored in chronological manner and cannot be altered which means that it is 100% accurate.

  2. Because blockchain is a decentralized network. It`s a network of computers all over the world. In case of normal database we have a centralized entity who has a control over this database which means it has the power to manipulate the data.

  3. Digital provenance gives a lot of benefits to businesses such as storage of information, traceability, trustless environment etc… Because of digital provenance certain operations inside the business or company can be done automatically and with zero mistakes. This can also lead to a much better service for their customers.

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#5174
  1. Because it is the blockchain, you can’t change what is on the blockchain once it is verified by the validators or the other blocks if it is proof of work, So it makes a transparent system of record-keeping available to anyone.
  2. Because it is not decentralized it is centralized meaning that someone physically has to audit and keep a record of the transactions and if it is with commodities and in form of a supply chain you just have to trust the suppliers are giving you what they say they are giving you.
  3. Because you take away the need of a middle man so easier direct access utilizing the blockchain technology.
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#5175
  1. It is decentralised and checked by other autonomous parties simultaneously. Tranations and accounting appear all in the one place which eliminates the need for physical auditing and “specialists”. Anyone with a computer can verify the information. It’s based on scientific and mathematical principles.

2 Someone is “in charge” of it and could pervert the info in some way. Experts checking the info may still be open to persuasion/bribing etc. It’s not able to be conveniently checked at any stage.

  1. Removes the need for “experts”. eg art provenance is largely down to the say so of experts and so many of them have got it wrong. For new and emerging artworks this wouldn’t be a problem if they were on blockchain presumably. Basically it’s trestles and verifiable.
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#5176

  1. How does blockchain enable digital provenance?
    Blockchain allows digital provenance by keeping an open ledger of immutable data. This is verified by the whole network to provide factual digital provenance.

  2. Why doesn’t a normal database bring the same provenance?
    Because it is centralized, not immutable and tracing is usually not 100% possible.

  3. Why is digital provenance such a great benefit to many businesses?
    Because they get a guarantee where i.e. their products or ingredients come from. Trust is replaced by transparency.

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#5177

Homework on Provenance

How does blockchain enable digital provenance?

  1. You cannot remove data from a blockchain so this makes things traceable (immutabile]

Why doesn’t a normal database bring the same provenance?
2. You can remove data from a regular database

Why is digital provenance such a great benefit to many businesses?
3. Provenance is a benefit because businesses don’t have to trust, they can verify and trace data

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#5178
  1. How does blockchain enable digital provenance?
    By storing the data without allowing its removal.
  2. Why doesn’t a normal database bring the same provenance? Because you can remove data from it. They can be manipulated by the entity at charge.
  3. Why is digital provenance such a great benefit to many businesses? Because you do not need auditing, you do not need a trustable party, you can verify and trace needed transactions.
  4. How does blockchain enable digital provenance?
    By storing the data without allowing its removal.
  5. Why doesn’t a normal database bring the same provenance? Because you can remove data from it. They can be manipulated by the entity in charge.
  6. Why is digital provenance such a great benefit to many businesses? Because you do not need auditing, you do not need a trustable party, you can verify and trace needed transactions.
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#5179

  1. digital real time record

  2. corruptable / expensive/ delayed

  3. trustless / fast/ private and public access

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#5180

  1. How does blockchain enable digital provenance?
    It’s enabled by a decentralized trustless chain of data that is accessable for everyone. And verified by all the ledgers in the blockchain. All written data cannot be tampered with in any way, its written like a runestone where you can write, but not edit or delete.

  2. Why doesn’t a normal database bring the same provenance?
    Because it is centralized, meaning there is a 3rd party that you have to trust. Therefor it is impossible to know if the data is corrupted or tampered with in any way. Also the collection of data is in one place.

  3. Why is digital provenance such a benefit for a lot of businesses?
    Because all data can be easy accessed by an auditor remotely, also all data can be tracked on chain.
    So for example if a business is selling eco friendly or fair trade coffee, it can be traced all the way back to the farmer who produced the coffee. To know that what is in the coffee bag is in fact what you are buying. Giving more trust for the consumer of the product witch will give more value to the company trough autenticity.

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#5181
  1. Because Blockchain is a network of decentralized computer that you can only add to.
    2.Because it is not on a network and can be changed.
  2. Because all transactions can be verified and have real time auditing.
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