Homework on Provenance - Questions

Blockchain and Bitcoin 101
#5764

Homework on Provenance - Questions

  1. How does blockchain enable digital provenance? Tracks transactions in real time

  2. Why doesn’t a normal database bring the same provenance? Blockchain allows for trustless transactions, whereas normal database has to be trusted.

  3. Why is digital provenance such a great benefit to many businesses? Blockchain ledgers would eliminate the fraud and mistakes made within normal database information input by 3rd party.

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#5765

1.All transactions are stored and archived. Database can be upgraded by adding only.

2.Because for example, for somebody can be ‘‘comfortable’’ like this. Other thing is: as many units involved in changes that’s many changes.

3.Becouse digital provenance provided the same informations for all and can’t be changed by corrupted audits.

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#5766

  1. Digital provenance requires records to be stored which will allow for audit trails to be conducted to access lineage to verify the trustworthiness and reliability of a transaction. Blockchain allows this as the ledger is accessible for auditing in real-time.

  2. Normal databases are not traditionally made accessible to the public and are centralised by design, which thus placed a heavy emphasis on trust on this central ledger.

  3. Digital provenance will allow for better transparency for tracking processes where trust can be removed and verification is enabled.

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#5767

  1. Blockchain once entered cannot be erased and is public so it enables digital provenance by being transparent and traceable.

  2. A normal database can be manipulated by its creator and the creator only shows the data that he wants seen. A normal database is built on trust.

  3. Because digital provenance is an unforgeable record businesses can be assured that what they receive has not been tampered with and that it lives up to their standards.

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#5768

  1. How does blockchain enable digital provenance?
    Blockchain technology enables us to create a public ledger that is immutable and transparent thus it also provides digital provenance as we can track the origin of any transaction done on the blockchain as the data is public.

  2. Why doesn’t a normal database bring the same provenance?
    The normal database is centralized and the data inside the normal database can be tampered with easily and there is a lot of Trust involved hence it cannot be used for provenance.

  3. Why is digital provenance such a great benefit to many businesses?
    Digital provenance helps us to create a Trustless system for any business model and make it more transparent, safe from external threats, and adds a possibility of real-time auditing.

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#5769
  1. It records all original transactions.
  2. A normal centralized database relies on trust where with the block chain provenance can be validated.
    3.It means that transaction auditing can be done real time.
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#5770
  1. It records all original transactions. These transactions can’t be erased or altered.
  2. A normal centralized database relies on trust where with the block chain provenance can be validated.
    3.It means that transaction auditing can be done real time.
#5771

Questions:
. Blockchain provides a lack of trust as there is no central entity controlling the system. Instead, a group of computers form a network containing the history of transactions and no data on transactions can be edited.
. There is a central entity which controls these other databases and people must rely on this entity.
. This allows for customers to track the origins of their products and it also allows for businesses to be reliant on a computer network so there is no need to trust human clients.

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#5772
  1. If blockchain is this digital stone that can only be added to and not taken from, then you have a significant trail of what is happening that cannot be changed, therefore, it allows for anyone to inspect and verify.
  2. A normal database can be both written to and erased from, so the data can change, whereas in blockchain, the data cannot be changed
  3. You can know exactly where money comes from and where it goes. However this also poses privacy concerns.
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#5773

  1. How does blockchain enable digital provenance?
    There is no central organisation / system in charge of building the trust around transactions, or contracts. NFTs (non-fungible tokens) are a good example of this; i.e. ownership or origin of image is non fungible as it’s basically a digital record in blockchain (correct me if this is not worded right :).

  2. Why doesn’t a normal database bring the same provenance?
    Databases can are quite secure, but the data can be modified by actors with or without permission.

  3. Why is digital provenance such a great benefit to many businesses?
    It removes the need to maintain and guard databases. Depending on the use case, the need to have personal data to establish trusted parties is also disrupted; by using dApps and blockchain users have more power to decide what level of information they give out. However, some regulations in for example gambling might require even dApps to have some form of KYC, but even then these companies would benefit for not having to put their trust in third party payment providers as currencies on blockchain would kind of do the job - with on-chain transactions visible for all. This digital provenance is also global breaking all the borders.

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#5774

Provence is to track auditing in real time, both accounting layer and transaction layer.

A normal database cannot bring the same as provenance because on blockchain
Entries are permanent and cannot be erased.

By removing trust businesses can can verify instead.

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#5775

  1. By connecting a network of computers each using their database to help the blockchain

  2. A single database is limited in possibilities for information, for example 1 computer database

  3. Works with smart contracts without intermediaries and much faster person-to-person transactions

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#5776
  1. Blockchain allows for real time tracing of transactions in a public ledger, and cannot be modified after being created. This creates a transparent account of transactions so that anyone can verify the information on the blockchain.
  2. Normal databases are centralized and controlled by a single entity. This provides zero transparency and accountability for the transactions taking place, and can be easily modified from within control of the database.
  3. This is great for businesses because it allows for a trustless and permissionless system that is open to the public to verify.
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#5777

  1. How does blockchain enable digital provenance?
    It keeps and immutable record of all movements in the public ledger, which means ad-hoc auditing in real time: anyone can check the data and it can’t be modified or erased.

  2. Why doesn’t a normal database bring the same provenance?
    It can be modified or altered, and it has to rely on others that may not keep a clean and up to date record. For this reason they need auditing, which Blockchain incorporates ad-hoc.

  3. Why is digital provenance such a great benefit to many businesses?
    It removes the necessity for placing blind trust in others (both for businesses and for customers). This way, customers (and businesses) can check businesses claims and real confidence can be established.

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#5778

  • Blocks are something where any data or transactions are engraved as not stored only. Hence developing a chain of such blocks hence by its fundamental structure of a blockchain always allow to track the provenance of an information or transaction.

  • Because a network of computers is involved to save the same information hence any data or information can not be duplicated, erased or corrupted as in case of the normal database.

  • Because digital provenance developed a trust less environment where every aspect of business is verified and not trusted. This kind of environment makes the business procedures swift, accurate, real time auditable and automated in most of the aspects.

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#5779
  1. By keeping an immutable and verified public ledger, we can track ownership in time.
  2. A normal database can be altered.
  3. It removes the need for trust
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#5780

  1. How does blockchain enable digital provenance?
    Blockchain allows you to track the origin of a product from its beginning using QR codes or sealed labels.Once the data is registred on the blockchain it cannot be edited or deleted.

  2. Why doesn’t a normal database bring the same provenance?
    Becouse a centralized database can be edited or deleted.So you need to trust that database.

  3. Why is digital provenance such a great benefit to many businesses?
    For the quality and for the originallity of that product and becouse they don’t have to trust no one.

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#5781

  1. Blockchain enables digital provenance by having all these connected networks with ledgers that will verify whatever the item your are tracking is really there.

  2. Because there is usually only one data base and it does not have the other network of ledgers to notify.

  3. It can keep track many aspects of their business in real time and it can save them time and money in the future by not having a physical person there to do the auditing.

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#5782

  1. Blockchain enables digital provenance through an open public ledger, where data can only be added and never removed. Since no one controls the entire network, there is no trust in anyone, thus the network is trestles

  2. A normal database is centralized, where a central authority can change the data, thus you have to trust the authority

  3. It enables the possibility of real time auditing, so the user can trust the data has not been changed or modified

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#5783
  1. By the fact that data can only be added and never modified/removed from the ledger. Because of that, it becomes a trustless system.
  2. Because data can be modified/removed there.
  3. Reduces administrative costs, increases efficiency of the processes
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