Homework on Provenance - Questions

Blockchain and Bitcoin 101
#5624

How does blockchain enable digital provenance?

The blockchain functions as a Public Ledger where all transactions are available and open to the public. Anyone with Internet access can see and check transactions done on the blockchain

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

A normal database is centralized by an organization that can manipulate information or share only a portion of the total data included

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

Main reasons are:

Real time auditing: no more need of big and expensive auditing companies. Everything on the blockchain can be audited by anyone

Transparency: a store can track in real time the real ingredients of the food it’s selling; opposite to current process where you can only see what the supplier shows

Trustless: do not trust, verify! companies don’t need to trust anymore as they can validate the information received in real time

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#5625
  1. By keeping multiple copies of a public ledger, blockchain precludes an individual or group of individuals from falsifying any information that is stored on the blockchain.
  2. A normal database can be easily altered, and altered with false information, by a single individual, thus rendering the data untrustworthy.
  3. Digital provenance enables businesses to hold other business (e.g. suppliers, middlemen) to a standard of transparency.
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#5626
  1. Blockchain provides digital provenance by creating a source for a permanent, unchangeable database where transactions can be recorded.
  2. Normal databases lack the permanence of blockchain. They can be altered or deleted.
  3. Digital provenance removes “trust” as a component of transactions, allowing businesses to know the truth behind the products and services they consume, as well allowing them to provide verifiable facts to their customers
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#5627

Blockchain allows us to find provenance. It gives us a chance to see all trasactions therefore trust less.

With a database it can be manipulated parts could be erased. We have to trust in what a database says to be true.

It gives a chance to follow all purchases to make sure of quality and that they are authentic

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#5628

Because of the way bitcoin is set up, there are millions of ledgers that can verify account status and amounts . This is different from other databases because its set up in real time . Because of the ledger being able to track transactions , external audits essentially happen of the ledge ever transaction.

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#5629

1: A key property of blockchain is that one does only have the ability to add data to the chain, one does not have the ability to erase data from the chain. Also, the chain/ledger is public. All this enables digital provenance.

2: In a normal database, information from the past could easily be changed (by hacks for example). If you were to try that in a blockchain, you would have to be able to dominate the complete network with your false copy of the blockchain, which is almost impossible. Simply said: in blockchain, all the different information packages are connected to each other, a regular database does not have this property.

3: One of the most important services that businesses can deliver with their product is transparency in terms of how the product is made or where the product comes from. Most clients do check this information whenever they buy a product and they have to trust the company not to lie about it. With digital provenance, the client is guaranteed to receive the correct information. This can certainly be a driving factor for clients to buy this product.

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#5630

  • How does blockchain enable digital provenance?
    Through distributed ledger technology - everthing can be tracked and traced in real time.

  • Why doesn’t a normal database bring the same provenance?
    Because its much more based on trust instead of verification of transactions. In blockchain it’s all about getting rid of trust. This is the main advantage.

  • Why is digital provenance such a great benefit to many businesses?
    Its capable of removing trust and instead bringing in verification in real time. For example blockchain can directly connect the accounting layer with the transactional layer in real time. Everything becomes faster an much more reliable. This brings value and efficiency to many processes in businesses.

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#5631

  1. How does blockchain enable digital provenance?
    By making sure origin of details is public and ready for audits despite being read only

  2. Why doesn’t a normal database bring the same provenance?
    Because information on a database can be private and not readily auditable for inspection

  3. Why is digital provenance such a great benefit to many businesses?
    audits can be done on the fly without physical presence and all the resources required by standard audits

1 Like
#5632

  1. Enables provenance through the need to verify all transactions with no dependency or requirement of trust

  2. Normal databases do not require consensus among public ledgers / network of machines to verify if a transactions is true or not

  3. You no longer trust your suppliers as the integrity of the information is maintained. Automation of business audits becomes a reality.

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#5633

1 - New transactions are added to the previous forming the blockchain, these transactions are verified and accessible publicly, meaning full transparency. Once added, transactions cannot be removed.

2 - Normal databases are centralised, which means relying on some degree of trust. Normal databases allow for information to be edited/omitted.

3 - Businesses can use blockchain to ensure their products are from a genuine origin. Blockchains can provide real time auditing, combining accounting and transactional layers.

1 Like
#5634
  1. Blockchain enable digital provenance by allowing an entity to track all stages of each transactions.
  2. Normal database don’t have these capabilities due to each having their system run off of different platforms.
  3. Digital provenance is great benefit to many businesses because it will allow greater trust between smart contract. Anyone can verify the ledger by checking the blockchains of their transactions.
1 Like
#5635
  1. Since everything is open source, you can verify the origin of everything.
  2. Because Blockchain is open source but other databases are not.
  3. Because you remove trust from the equation. “Don’t trust Verify”
1 Like
#5636
  1. Because blockchain is decentralized, open and immutable. You can see all transactions but cannot change them, only add to them
  2. A normal database is centralized. The owner of the data can change it, or it can easily be hacked
  3. You no longer have to “trust” the company to be honest. You can verify the information instead. This allows traceability in countless markets (food, pharmaceuticals, data, etc.) This increases the value of the product/company in question
2 Likes
#5637

1.By allowing a real time auditing-tracking of all transactions.
2.Because it always depends on intermediaries that you must trust.
3.Because it replaces trust with self verification.

2 Likes
#5638

1 By being a public ledger, decentralized and immutable database.

2 A normal database is centralized so the entries could be changed by the owner of the database. The normal database can be corrupted and really cannot be trusted.

3 Don’t trust verify. Complete transparency, publicly viewable. It’s trustles. There is no central authority needed.

2 Likes
#5639

  1. by putting a copy of every transaction thats being made on all the ledgers/computers that are using the blockchain. on every computer is the same copy making is decentralized and transparant for everybody

  2. because a normal database is only using one computer or autority, therefore you have to trust that there is provenance and history shows “mistakes” can be made

  3. you can make sure to you customer and yourself that the data is safe and reliable.

1 Like
#5640
  1. How does blockchain enable digital provenance?

It removes TRUST between a supplier and a buyer. All information can be VERIFIED on the database. This is extremely exciting. In the fashion industry nowadays there is no way to verify if the fancy organic cotton t-shirt you have bought is really organic. Big high street brands like H&M advertise some lines as sustainable but most of the time they are trusting their suppliers that they are. They use the sustainable trend as new marketing leverage to sell more. There is no proof just trust at the moment. As you can imagine suppliers will use it to their advantage and lie to get better prices.

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

The normal database is centralized. This means that it can be changed by the person in charge of it. This brings manipulation to the table. It can not be trusted.

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

All manufacturing industries will benefit as it will be easy to verify where the raw materials originated from. What condition they were in etc. That way they will be able to prove to customers that their claims about the product are true. They will not be also misled by suppliers. I think Vechain is doing exactly that. I do not know the details only that they have partnered with many major manufacturing brands.

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#5641

Homework on Provenance - Questions

  1. How does blockchain enable digital provenance?
    -By providing a decentralized, local, and public ledger.

  2. Why doesn’t a normal database bring the same provenance?
    -Because “normal” databases are centralized and private.

  3. Why is digital provenance such a great benefit to many businesses?
    -It eliminates the need for trust by granting users access to verifiable methods.

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#5642

Slightly longer answer but hope it is OK.

1.0 Due to the public ledger each transaction or change (i.e. look at the supply chain and auditing example) needs to be verified by the whole computer network before being put on the blockchain. (= trustless)

2.0 The data can be easily manipulated due to not having the mentioned benefits of a blockchain.
2.1 Relies highly on Trust

3.0 Cost & Time Efficient
3.1 Has a wide range of usability i.e. from tracking and verifying data of all kind in real time which can be helpful to many industry verticals.

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#5643
  1. Through the many computer users or nodes in a network the history of ownership can be followed and checked by and agreed opon as a whole that something is true or not, or allowed or not.
  2. Since in a normal or a traditional database the owner can solely decide what can be added or removed. This one person or company can say what ever they want.
  3. This allows companies and the consumers to cross check who they do business with in a trustless manier. Bad companies are then no longer accepted or tolerated.
1 Like