Homework on Provenance - Questions

Blockchain and Bitcoin 101
#5804
  1. The blockchain enables digital provenance by using nodes in order to verify the transactions on the blockchain.
  2. A database is centralized which means it has to rely on trust from a company or central entity in order to verify transactions.
  3. Digital provenance doesn’t rely on trust from a third party. It verifies every transactions through nodes not through people.
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#5805
  • It provides public access to an entire transactional history which cannot be edited or deleted by a centralised entity.
  • It does not hold the same trustless qualities as it can easily be edited or manipulated by an institution or government for example.
  • It provides a higher level of transparency as all historic transactions are accessible and un-editable.
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#5806

  1. Block Chain allows for digital provenance by recording a series of hashs into a chain of information that is stored into a database that cannot be rewritten or deleted, only added to the chain of information. It removes the need for trust as the information is waiting to be verfied.

  2. Normal databases can’t provide the same level of provenance for the reason that all of them are no decentrilzed which allows organizations who own those databases free will to edit, remove, add false information at will. It doesnt remove the “trust” aspect because your dealing with a group of people rather a system designed to give forth equality and transparency.

  3. The great benefit digital provenance provides for businesses is the ability to always know where you money is going and where it is coming from. it allows for Security with full transparency. Whats done is done and cannot be changed only added onto the Blockchain.

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#5807
  1. Blockchain enables digital provenance by cementing data on a public ledger. The data is stored on a network of computers making it irreversible.
  2. A normal database doesn’t bring the same provenance because you’d have to take your suppliers word or whatever information they provide you with.
  3. Digital provenance is great for businesses because it’s transparent, trustless, and traceable in real time.
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#5808

  1. By using a decentralised network of computers to verify transactions, rather than relying on trust. These transaction records are permanent on the blockchain, therefore it is only possible to add records, not delete them.

  2. In a traditional database it is very difficult to verify the reliability of records. One party must trust that the other has provided the right information, which is not always the case. Traditional databases are also centralised, having a singular point of failure and thus more vulnerable to hacking.

  3. Combines the record of accounts and transactions into one database. Allows for real-time auditing, whilst choosing which aspects of data are publicly available to the relevant parties. This enables consumers, business partners to verify the claims of the company, eliminating bad actors.

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#5809

1 is the right answer

#5810

A1. Blockchain is a public open ledger decentralized and all transactions are recorded and traceable by anybody. These transactions are added, but cannot be removed at all. That’s the way in which blockchain enable digital provenance.

A2. On the contrary, a normal database is centralized and private and managed by a company/institution/person. Data can be altered, removed if necessary by the database manager. So it cannot bring the same provenance.

A3. Digital provenance provides trust to many businesses because transactions involved can be traceable and auditable in a tamper-proof way.

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#5811

I. It enable tracking from origin or source.
2. Normal databases are not immutable.
3. Provides an unchangeable record of ownership and provides unchangeable tracking for products.

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#5812
  1. by tracking every step of the supply chain.
  2. we have to trust the centralized information of the database, which can be modified or just be a lie, cause just one puts the information in the database.
  3. it’s transparent and verifiable and not just from one persona, but from diferente persons around the world in real time.
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#5813
  1. How does blockchain enable digital provenance?
    Provenance is created through the decentralized, open and immutable nature of blockchains.
  2. Why doesn’t a normal database bring the same provenance?
    Centralized which makes data highly suspect.
  3. Why is digital provenance such a great benefit to many businesses?
    Businesses will be better if they can have accurate and timely data that is immutable. It will give them the ability to increase quality and quantity of production and/or service.
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#5814

  1. By having an open public ledger of transactions in which both accounting and transactional layers are included per transaction. The transactions can only be added once verified but cannot be undone.

  2. The blockchain ledger/database is unique because both accounting and transactions exist together. It’s verified via a trustless network of computers. A centralized database is a solitary actor, the transaction record is opaque and so trust is needed.

  3. It benefits business because it provides a high degree of security that the transaction record is verified and accurate, doesn’t depend on trust, is a streamlined transactional record and can be publicly viewed, verified and traced.

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#5815
  1. How does blockchain enable digital provenance?

Blockchain enables digital provenance by creating an unlimited history of transactions from beginning to end. That verified itself before making each transaction and cannot be rewritten or tampered with. It can also be checked publicly.

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

A normal database has a problem that we’ve been having through all history. The human error. From corruption to genuine errors, it simply isn’t error-proof. You also need to trust the database owner. IT can also be tampered with or lost. It’s also quite time-consuming.

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

It cannot tampered with, it can be viewed and reviewed in real-time. It’s cheaper and more reliable. It’s also a public ledger from beginning to end.

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#5816
  1. It provides a decentralized network in which you don’t need to trust any authority for certain transactions.
  2. Because it is centralized meaning there’s a third-party/authority and trust between the customer and that third party to complete a transaction.
    3)Not only is it beneficial to businesses, but to anyone who wants to know what items they’re purchasing. Digital provenance cancels out the trust and replaces it with verification, and mathematical and scientific authenticity. Plus you can track anything you might buy and check its quality and origins!

(don’t judge my answers I’m still trying to learn haha)

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#5817

  1. Blockchain is like a stone database. We can add newinformation but we can’t delete any previous information. In other word, it is immutable. It is a public ledger with real-time auditing.

  2. Normal database is centralized, controlled by a single party. He can add new information or delete information as and when he wants. It does not provide real-time auditing. The auditing and transaction may be different as well.

3.You can trace the supply chain from ingredients all the way to consumers. You don’t have to trust the data. You just have to verify them.

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#5818

1: Because all transactions are recorded in the blockchain as well as accounted for via the blockchain algorithm. All historical Tx are permanently, immutably stored in the blockchain/network of computers and the information cannot be removed or tampered with.
2: Because it is not secure and not immutable.
3: Blockchain generates immense opportunities for cost savings in the areas of GMP and anything that is related to the quality and regulatory business processes. Furthermore is more secure and efficient than current ledger and accounting processes. It allows companies to give full transparency to their customers in relation to the origin of the products (which is competitive advantage and generates trust).

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#5819
  • How does blockchain enable digital provenance?
    All transactions are immutable and recorded in a public database, the blockchain, that can we verified by anyone. Any transaction can be traced through the blockchain.
  • Why doesn’t a normal database bring the same provenance?
    Because a normal database can be hacked/altered and is not public.
  • Why is digital provenance such a great benefit to many businesses?
    You don’t need to trust information from a vendor or supplier you can directly verify their claims through the blockchain.
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#5820

  1. How does blockchain enable digital provenance?
    Trace financial transaction using a network of computers

  2. Why doesn’t a normal database bring the same provenance?
    Anormal database is centralised, it can be hacked and the information perishes.

  3. Why is digital provenance such a great benefit to many businesses?
    with digital provenance businesses are being able to to track all the steps of transactions.

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#5821
  1. Blockchain enables real-time, trustless verification/auditing of the chain of ownership of a valued asset. Blockchain allows one to combine the accounting layer and the auditing layer in one system.
  2. Transactions in a provenance database could be altered or deleted, whereas blockchain is like a digital stone where transactions can only be added. Blockchain also allows transactions to be traced and tracked in a very transparent manner on a public ledger.
  3. Digital provenance gives huge benefits to supply chain management in the form of verifiable source control, tracing, tracking, and quality assurance of raw materials, intermediate materials, and products and services at every step in the supply chain. Hence, digital provenance gives businesses greater control over the sustainability, quality, reliability and performance of their products and services.
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#5822

  1. How does blockchain enable digital provenance?
    All transaction ever completed on a certain blockchain are stored in the Public Ledger of this blockchain which is open and everyone can see what transactions a certain public address has done since it was created.

  2. Why doesn’t a normal database bring the same provenance?
    The database of a Bitcoin blockchain for example could theoretically be edited with an enormously huge amount of electrical energy needed to rewrite all transactions after the edition, which makes it practically impossible. This makes the provenance principle of the Bitcoin Blockchain completely accurate and verifiable from scratch.

  3. Why is digital provenance such a great benefit to many businesses?
    The digital provenance takes advantage of the permissionlessness of the Blockchain technology that enables it to run two or more layers of processes in a business that interact with each other without the need of a third party verification.

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#5823
  1. On my understanding, blockchain enable digital provenance by the process of verification, what the entire network of computers do.
  2. Because in a normal database the data can be removed or modified, but in case of the blockchain you only can add data.
  3. Because anyone can verify and trace the data he want.
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