Homework on Provenance - Questions

Blockchain and Bitcoin 101
#5363
  1. How does blockchain enable digital provenance?

Blockchain is a public digital ledger that tracks all of the information of a transaction and communicates it onto multiple nodes involved in the blockchain. This removes “trust” from the picture by verifying the exact information of a transaction and copying unmodifiable versions of said transactions.

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

Ordinary databases typically used by companies are “old fashioned” and fall suspect to false modification and corruption and thus cannot be completely “transparent”.

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

The public ledger can preform “real time audits” as they happen by putting together the account information as well as the transaction information. This information is communicated openly on the blockchain for transparency.

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#5364
  1. Blockchain = public ledger = all transactions in database = 100% verified
  2. Normal database = centralized = very hard to verify, not as reliable
  3. No need to trust anyone, it’s 100% verifiable
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#5365

Q1 How does blockchain enable digital provenance?

The reason that blockchain enables digital provenance is because blockchain enables real time auditing. Blockchain integrates the auditing layer and transaction layer of a company. In other words all information is accessible and together (All ingredients are traceable). The blockchain stores all of this information in transactions which are accessible to anyone who wants to view it. Thus provenance is maintained

Q2 Why doesn’t a normal database bring the same provenance?

Recall that one of the key differences between a traditional database and blockchain is that traditional databases are not immutable. This means that the admins of person (entity) that controls the database can choose to remove certain information at any given time. This means that information can easily be altered and or fabricated which ultimately makes it less reliable and thus Provence is not maintained.

Q3 Why is digital provenance such a great benefit to many businesses?

There are many reasons why digital provenance is a great benefit to businesses. Firstly if a company is able to maintain Provence it automatically creates trust between that company and their clients. Fo example if a company that makes clothes is able to track every little detail down to where their materials come from and prove that there is no source of cheap labour it automatically creates a trust with their consumer because they know the product they are receiving is of good quality and produced in a fair manner.

Also digital provenance is a great benefit to companies because it removes the need for a third party to carry out audits which ultimately saves money, time and resources which then can be put to use in other areas that would benefit the company

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#5366

Because you can see all the transactions

#5367
  1. In a normal database an information can be changes, removed or added.
  2. Because it allows to get real picture without any need to rely on somebody.
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#5368

1.Blockchain is a decentralized database in which data/transactions can be entered but not removed thus enabling the public to verify the accuracy of financial transactions and allowing real time auditing of the information.
2. Info can be altered or removed from a normal database so there is a dependency on having to “trust” others.
3. Because it empowers the businesses to be able to “track” something and verify the info/transaction.

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#5369
  1. Since all transactions are completely recorded, cannot be edited, and cannot be deleted, all information related to the transaction is verifiable and traceable up to its point of origin.

  1. In a normal database, anyone who has the power to add-edit-delete data that can tamper with
    the traceability of a certain transaction.

  2. Digital provenance is beneficial to many businesses because real-time auditing and tracking can be an essential tool for day-to-day decision-making or strategic planning.

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#5370

  1. Every transaction is verified/audited in real time and the record is public for anyone to look at.

  2. A normal database can be manipulated to show what ever the centralized controller wants to show.

  3. It is trustless and verifiable, leaving no question what is in the product and where it came from.

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#5371

Blockchain enables digital provenance by tracking digital transactions, financial or otherwise, in real time. Also, combining accounting and transactions into one procedure makes this a much more efficient model than currently used. This makes it easier for anyone to verify or validate the transactions, keeping everyone involved, honest by default

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

Centralization creates a power vacuum for those that control the information. In fact, I would say centralization brings exactly the opposite of provenance. Look to any form of business or government and it is easy to see that with central control, corruption is inevitable

Why is digital provenance such a great benefit to many businesses?
With the creation of a trustless system, businesses can get down to making the real decisions that lead to profitability and streamlined systems from within. Not having to worry what suppliers or customers, are or are not screwing them over, leads to better insights into how they are actually running their business and what steps can be taken to better service their customer base and improve products and production.

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#5372
  1. How does blockchain enable digital provenance?

It can do this by showing all transactional history making everything transparent.

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

A normal database doesn’t have the information capacity or the verification processes to hold it as accountable.

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

There is trust and transparency that can’t be gained otherwise.

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#5373
  1. How does blockchain enable digital provenance?
  • Through a transparent system that operates independent of any organization or human input. The blockchain is trustless and recorded publicly for all to see.
  1. Why doesn’t a normal database bring the same provenance?
  • Because, without blockchain technology, a database is centrally controlled and can be manipulated.
  1. Why is digital provenance such a great benefit to many businesses?
  • Because it takes the guesswork and trust out of the system and removes the need for independent verifiers or accountants
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#5374
  1. Blockchain enables digital provenance because it is a database where you can only add and not remove things. This results in everything being tracable and therefore enabling digital provenance.
  2. A normal database does not bring the same provenance because you have the ability to remove data. For example in a bank it is a possibility to delete a transaction after it has gone through. The money that got transferred will be removed from the system and are no longer tracable. Therefore, not bringing the same provenance
  3. Digital provenance is a great benefit to many businesses because they can track all the changes they have made. the Business can use this information to enhance customer expirience. Provenance builds a huge trust from customer to business, but also from one business to another business.
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#5375

HOMEWORK:

How does blockchain enable digital provenance?

blockchain creates digital provenance by providing instant on chain recording protocols that create transparency and accurate tracking. All transactions are instantly held in digital format, creating a story of an item or process that is shared by all systems of the blockchain thus creating provenance. provenance is enabled by proof in transactions or chronological history of digital contracts expressed by change of ownership or location.

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

normal databases do not bring the same level of provenance due to latency of record keeping or lack of entirely. Regular databases are simply centralized and not shared and create less value in truth of said transactions due to ability to change digital information without verification.

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

Digital blockchain Provenance is such a benefit because it creates accuracy of record keeping in real time allowing all to view and know current data in any given system of exchange process. Data being held in more places strengthens security of data.

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#5376
  1. After creating a piece, there"s an signature digital embedded which stands for authenticity and information is recorded on Blockchain.

2.Normal database don’t have to be updated with the right informations those can’t be verified. that due to Blockchain’s POS,POV can’t really happend.

3.Can improve customer’s(buyer’s) trust that the farmer has really received Financial evaluation for the product that he produced(made) as well as being aware if the product is truly organic. By those trusted informations is increasing customers satisfaction and driving up sales rate.

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#5377

  1. Provenance traces financial transactions within the blockchain as an open accounting ledger

  2. A conventional database has layers of accounting and transactions that must be audited independently while Digital provenance has them all together in a transparent ledger easy to audit everything and anything in real time.

  3. Digital Provenance is capable of tracing anything in a variety of industries it could be utilized for all sorts of things such money transactions, the origin of merchandise, ingredients in foods and for different types of supply chains allowing there to be a trustless public ledger.

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#5378

  1. Information on the blockchain cannot be deleted, only added. The Blockchain enables you to track things. So with the information added you can trace all added information at any time. This added information cannot be altered. You will be able to see the origin of information.

  2. A normal database, can and is being changed or altered all the time. A normal database relies on trust, the blockchain relies on verification.

  3. With digital provenance the way our economy runs may change. Todays products, with their long chain of production steps through different countries and places, the customer cannot keep track of where a product is coming from, or where individual parts are coming from. Therefore it is difficult for the customer to compare products, also in terms of work conditions, or the environmental effect of certain ingredients. With digital provenance, power is given to the end consumer through knowledge based on verification, rather than trust which has been disappointed so often. Digital provenance is knowledge through verified information.

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#5379

1,The blockchain is decentralized, immutable and is therefore trustless as it allows for prominence to its users.

2, Its decentralized nature removes the need for a trusted third party.

3,It allows businesses to track where things with transparency, and check that its accurate.

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#5380

  1. How does blockchain enable digital provenance?
    By keeping an public ledger of immutable data

  2. Why doesn’t a normal database bring the same provenance?
    Traditional databases are centralized meaning that data can be modified, by the central authority or compromised therefore having to trust the party without the ability to verify the information.

  3. Why is digital provenance such a great benefit to many businesses?
    Real time auditing, track and timestamped record of transactions or products reducing cost.

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#5381

  1. How does blockchain enable digital provenance? It lets data be stored from its place of origin and allows the parties interested see in real time whats going on, this is being protected by nodes or a network that cannot change the data at will.

  2. Why doesn’t a normal database bring the same provenance? It doesnt because there are a fixed amount of people “feeding” the database, anyone with permission can manipulate this information and it can be hacked.

  3. Why is digital provenance such a great benefit to many businesses? It provides formal real time verification and trusting the business provider, here they can track and show with a proven method that A, B, C came from the places it says.

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#5382

  1. Blockchain enables digital provenance because all entries are stored chronologically, replicate across multiple nodes and can’t be altered once the entry has been accepted.

  2. A normal database does not have provenance because the entries can be changed by the owner of the database. Normal databases can also become corrupt or access could be disrupted if centralized/distributed.

  3. Digital provenance is a great benefit to many businesses because it brings transparency, real time tracking, and the ability to have all data available openly in the blockchain.

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