Homework on Provenance - Questions

Blockchain and Bitcoin 101
#506

How does blockchain enable digital provenance?
It does this by being immutable and by being publicily available in order to check the validity.

Why doesn’t a normal database bring the same provenance?
Because it can be changed it invalidates the ability to be completely trustless. You have to trust that it was not changed or go through a process of validation.

Why is digital provenance such a great benefit to many businesses?
By being trustless it negates the need to manually verify or to trust the other party. This eliminates the time and cost of verification.

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#507

  1. Once you fill a block with data and its connected to the chain, the data cannot be changed

  2. The data you put in the blockchain cannot be altered

  3. The data is more reliable which creates trust which creates customer relationships which creates money

#508

  1. Blockchain enables digital provenance because it is a public ledger where you can only add transactions not remove them Transactions are all capable of being traced and tracked in real time. All the public information can be seen, you can verify that the supplier information is what was promised.

  2. The accounting and transactional information is separate and opaque. It cannot be audited in real time, and therefore is complex rather than efficient. There is a degree of unknown in transactions that has to be made up for by trust rather than trustless.

  3. You can combine the information in both the accounting layer and the transactional layer all together which are currently separate. You can track and verify where the supplier ingredients come from, where the items have been, which part of the supply chain they passed and what the state was at each point in the supply chain brings much value and efficiency to the processes and important to the company.

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#509

  1. The blockchain acts as a ledger which holds every transaction ever put into it so anyone who downloads the blockchain is able to view the origin of any transaction and add a level of efficiency our current system cannot offer

  2. “Normal databases” are not publicly accessible

  3. Well digital provenance isn’t a great benefit to people like Ernst & Young as you used in your example lol But as a whole it creates efficiency and transparency

#510
  1. All transactions are saved in the public ledger on the blockchain who is decentralised network of computers. Information in the ledger cant be change or deleted.

2.Normal database is easier to change so there have to be trust or you have to do the work to verify.

3.You can remove trust issues. Better transparacy to customers. Dont have to put as much work in to auditing/accounting and alot more benefit.

#511

Blockchain enables digital Provennce by tracing and storing all transactions, these cannot be removed.

A normal database can be edited by a person or company.

Its great because you can it is trustless, all information is verified and you can trace the origin of everything.

#512

Homework on Provenance - Questions

  1. Each transactions are simultaneous and completely decentralized stored on the blockchain.

  2. With a normal database it is possible to change data, but blockchain is a database where you can only add data but not remove, this means you can not cheat.

  3. All financial transactions are stored on the blockchain and this makes bookkeeping for businesses
    easier and reduce massively the cost for financial auditing.

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#514

  1. Blockchain is a public ledger. Each transaction is saved on the blockchain and therefore one can find every provenance of each transaction ever made. One can only add transactions but one cannot delete or change anything. Every transaction can be checked in real time so aswell for auditing.

  2. A normal database is centralised and can be lost due to all kinds of events. A normal database is also susceptible to fraud or hacking. Data can be deleted or modified. Older data may then be difficult to detect because of stored somewhere that cannot be found immediately.

  3. Digital provenance has a great advantage in tracking every step in a productionprocess from the very beginning of production to a finished product for the consumer. Now everything works on trust, and without really knowing what happend with the product. With digital provenance we can exclude trustlessness of third parties.

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#515

1.Blockchain enable digital provenance because -on blockchain every transaction is tracked and can’t be deleted .
2.Because normal database can be changed and deleted.
3.Digital provenance is great benefit to the businesses because they can truck every transaction on the blockchain- no deleting of data everithing is stored on the blockchain.

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#516

How does blockchain enable digital provenance?
Blockchain enables digital provinence by making all transactions Traceable and audit-able in real time time. Bringing the accounting and transaction layer together.

Why doesn’t a normal database bring the same provenance?
A normal database doesn’t bring the same level of provenance as its a centralised server and can be controlled, edited or have things removed. The blockchain can have things added but not removed.

Why is digital provenance such a great benefit to many businesses?
Digital provenannce will allow businesses to track a product or ingridients through the whole of a supply chain allowing them to be able to confirm the integrity of a product or ingredient at the point it past on the supply chain. Digital provinence takes away the need to trust that a third party has completed thier part as no changes can be made to the blockchain after the fact.
DONT TRUST VERIFY!!

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#517 
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?

  1. A Blockchain records the source or origin of every transaction in a permanent record that cannot be deleted.

  2. A normal database does not have provenance because the data can be edited, changed or deleted and it is centralized.

  3. Digital provenance is a benefit because a product is able to be traced or tracked to its origins in a permanent transaction on the blockchain that is decentralized, trust less, and requires consensus.

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#518
  1. How does blockchain enable digital provenance?
    All data recorded are saved as transactions in blocks on the blockchain available for audit to everyone
  2. Why doesn’t a normal database bring the same provenance?
    It’s very difficult to get to know about if a normal database has been negatively manipulated in any way at any stage. The blockchain will change the whole outcome if any transaction somehow is getting manipulated after it has been saved in a block and by this it would be obvious to everybody
  3. Why is digital provenance such a great benefit to many businesses?
    No trust is needed by customers or partners. All participants can view all information saved on a blockchain and thereby get guarantee
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#519

  1. Digital provenance is enabled because blockchain is a decentralized public ledger, where no information can be removed.

  2. A normal database doesn’t have the above mentioned attributes. Therefore one has to trust that the data is valid.

  3. Digital provenance is a great benefit for companies, because it can remove the need of trust from the consumers in many ways .

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#520
  1. How does blockchain enable digital provenance?
  • Blockchain enables digital provenance because of it’s similar characteristics to a digital stone. By this, blockchain enables digit provenance since it allows a system to be built based on traceable and transparent transactions.
  1. Why doesn’t a normal database bring the same provenance?
  • A normal database does not bring the same provenance because normal databases do not carry every information about past transactions. Due to this, many will not know if the transaction is relevant, reliable, objective, accurate, or verifiable.
  1. Why is digital provenance such a great benefit to many businesses?
  • Digit provenance is a great benefit to many businesses because there is not way to cheat them and their system.
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#521

  1. Blockchain removes the middleman (centralized authority) and allows you or anyone to verify the digital provenance in a TRUSTLESS manner.

  2. A normal database needs verification in a centralized manner. It also cannot be audited in real time.

  3. Real time auditing which allows business owners and business customers to verify instantly on the blockchain. You can eliminate trust from the equation.

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#522
  1. By enabling a complete and immutable chain of custody to be recorded on a distributed network.
  2. Database records can be altered at any time by a central authority such as a database administrator.
  3. Because it provides a trustless technology that allows businesses to verify the entire supply chain of a product.
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#523

  1. Provenance enables the business to easily collate their data on an immutable ledger being blockchain, this data is open, allowing anyone to check its validity.

  2. Centralised databases are secured and centralised, data sets can easily be manipulated to reflect what the data owner wants auditors to see and anything they wish to hide or not disclose. Provenance within Blockchain is open, auditable, immutable (dependant on Blockchain type) and easily understandable from a supply chain perspective.

  3. Digital provenance benefits for businesses to Invest in Blockchain include tracking of raw materials and their origin, possible Cost-Savings, details for increased profits, reliability and build trust.

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#524
  1. How does blockchain enable digital provenance?

The blockchain is an immutable, decentralized, trustless database that is open to the public to verify whatever records, origins or history of ownerships that one wishes to check on.

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

A normal database is very centralized and is far from being immutable therefore not trustless, while at the same time not as public and open to scrutiny by just anyone.

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

During the past, the digital realm was a place where it was quite hard to bring over the properties of provenance due to the easy nature of making copies of everything online. Technology such as blockchain could help businesses a great deal by bringing over a trustless sense of true ownership to whatever value businesses would want to try to bring over or create in the digital space as well as provide an accountable transparent way for their customers to verify this value

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#525

  1. Blockchain enables digital provenance by not letting chain to broke, that meaning we can only add new block after everything is verified by current version of software(nodes) that is installed on computers and not remove or update old ones. By that “history” keeps unchangeable and only thing that can happen is split in future.

  2. Because we can update and delete things from traditional database without keeping history, it’s good to mention that we can keep history but in most of the cases that history can be changed during time. In blockchain it’s uncangable.

  3. Because it digitally keeps track of all records and it’s good proof for verifying all the steps in one process.

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#526

1: by adding data points in chronological order
2: data can be removed/ modified.
3: efficiency and transparency.

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