Homework on Provenance - Questions

Blockchain and Bitcoin 101
#5885

Blockchain is trustless and has a public ledger where everybody can see and track the information. Blockchain is distributed and all the nodes (participants) has a copy of the information. There is no central entity and no censorship of information.

Normal database is controlled by the central entity which has a rights to keep the information secret from the public or manipulate it. Information is based on trust - which could be easily breached. Also regular databases are easier to hack.

Digital provenance provide transparency and trustless relations between different business parties. It provides a possibility to verify information and the origin of the products. Also by using digital provenance business can be more more sustainable and socially responsible because they can provide legitimate information about their products and their ingredients origins

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#5886

1 - Data in the blockchain can only be added and not removed. Also all the information int he ledger is public and can be tracked.

2 - Because contrary to blockchain a normal database is centralised and information in it can be edited.

3 - Blockchain removes the need for trust and brings the possibility to verify the data.

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#5887

Homework on Provenance - Questions

  1. How does blockchain enable digital provenance?
    By design, the consensus of blockchain is in the network of transparency, thus the truth (certain actions imbedded in time) is always verifiable.

  2. Why doesn’t a normal database bring the same provenance?
    Because humans are notorious for modifying the truth while the devil is sitting on one shoulder and they can temper with a database, because a typical database is based on the pyramidal, top down control where a corrupt head of a corporation can influence the truth. Versus blockchain, where the truth is always imbedded in the network.

  3. Why is digital provenance such a great benefit to many businesses?
    It saves resources, be it in the form of employees or hired services. It allows the strong from the start bases for strong business relationships, because the issues of trust are not even thought of as they are out in the open by design.

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#5888
  1. How does blockchain enable digital provenance?
    It is verifiable on the blockchain.
  2. Why doesn’t a normal database bring the same provenance?
    The database is centralized and can be manipulated.
  3. Why is digital provenance such a great benefit to many businesses?
    It provides transparancy and can be verified and auditet in real time, thereby creating more trust between two or more parties.
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#5889
  1. Blockchain enables Provenance by providing a data structure that can only be added to and not modified in any way “after the fact” such that it contains a complete and immutable record of the path that a given product or service goes through in the production or other process.

2.A normal database contains information that can be altered or modified by anyone with access to write to or change the data so that it is necessary to trust that noone has altered any of the data.

  1. Provenance therefore provides a “trustless” source of information that allows the tracking and monitoring of various transactions or processes.
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#5890

  1. Blockchain enables digital providence through immutability, or in other words the inability to edit a past transaction. The transactions are available on a public ledger that stakeholders can reference.

  2. A normal database has edit functionality which means that information can be updated or deleted.

  3. It provides real-time auditing which can incentivize ethical behavior and can save on auditing costs.

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#5891

  1. Blockchain provides the function of an immutable ledger that anybody can utilize for trustless accounting. this enables users to track exactly where transactions or things originate from.

  2. A normal database can be corrupted or tampered with by both internal and external individuals. Data deleted on normal databases can also have their existential history deleted as well, wiping out any proof of existences and transactions pertaining to that particular data.

  3. Digital provenance provides businesses a way to do business and interact with other business without worrying about the credibility of the digital asset since all transactions are publicly recorded and permanent on the blockchain.

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#5892

1.Through a network of validating nodes. The ledger is public and every transaction is added to a blockchain. The transactions are stored on all the network nodes.

2.Because a normal database is 1- Either centralized and found on one node, hence it could be easily
manipulated, or
2- Not public

3.Cause digital provenance provides trustlessness. The consumer does not have to trust the producer for the ingredients of a food for example. The trust is in the traceability that digital provenance provides. Happy customer, happy company!

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#5893
  1. leaves an unmutable record of all transactions.
  2. information on ‘normal’ databases can be changed, erased, manipulated, hacked, etc.
  3. it can become trust-less and rely less on people’s ‘trust’, more transparency for all parties involved.
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#5894

1. How does blockchain enable digital provenance? By being an immutable and public ledger which guarantees that transactions can be tracked on real time.
2. Why doesn’t a normal database bring the same provenance? Because it is not public and it usually belongs to a centralized party which can modify it and tamper with it.
3. Why is digital provenance such a great benefit to many businesses? Because it would save lots of money an time and it would guarantee where materials and/or resources come from. For example in an audit, once the audit conditions are programmed and deployed on the blockchain, there is no need for human auditors to go over all the paperwork and the accountability of a business, the blockchain would be able to automatically check if the audit is passed or not. It would also avoid bribes which would reinforce the credibility of such audits.

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#5895

1- all the information can be stored in blockchain from the beginning and it is immutable

2- normal dbs can be updated

3- trusted, secure, immutable way of keeping track of information. Suitable for supply chain specifically.

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#5896

  1. everyone holds the same copy of the big ledger. nobody can tamper with it and everyone can see the transactions done.

  2. the database doesnt keep track of all the transactions, it just keeps track of your (internal transactions). thats kinda the big problem in all of this. every transaction needs to be checked and double checked.

  3. a company can’t let themselves look bigger than they really are. it allows for transparancy for everyone to see. also you dont have to ask 5 different people to verify a transaction, you can look them up in real time.

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#5897
  1. By permanently recording every transaction in real time and enabling you to verify it on the blockchain
  2. Information can only be added to the blockchain - not removed. Also there is no single governing body of the blockchain.
  3. It removes the need for trust, as everything is visible and accounted for on the blockchain. It could also remove the necessity of book keeping, accounting, and auditing by a governing body.
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#5898

  1. Blockchain being a data stone where you can add information and not delete or manipulate it, enables digital provenance. One can easily access data detailing the transaction date, time and possible purpose or information about the transaction without anyone applying for a special auditing. It creates that trustless service (provenance) which replaced trust.

  2. Normal Database cannot bring the same provenance because they are administered by individuals who might manipulate data in order to favor or undermine some useful information. but blockchain display accurate information as it is without fear or favor.

  3. Digital provenance is a great benefit to businesses or cooperations because it boosts the customers or partners trust on the information displayed, knowing that no one could possibly manipulate the data enables them to make the right decision on what to buy or participate on.
    example: if a farmer has the information of the day His chicken, fish or cow was hatched and when its killed, it will be easy for the customers to know how old is the chicken, fish or cow as the case maybe and buy as they wish to knowing that the information is accurate.

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#5899

  1. Blockchain enables digital provenance to show its database that uses tokenization to create a blockchain.

  2. The reason it’s not the same as provenance is that the database shows the same crypto but not the same as provenance not reliable as a normal database.

  3. The reason digital provenance is a great benefit is that they don’t depend on third parties that all the data is open to blockchain.

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#5900

  1. Blockchain enables digital provenance by providing a transparent immutable database that is open to the public. For example, this can really come in handy with food supply chains where it’s important to know the provenance of certain food products.

  2. Normal databases don’t provide the same provenance because they are centralised; which gives their owners back doors access to manipulate data.

  3. Digital provenance provides great benefits for businesses by providing real-time auditing and more transparent supply chains among many other benefits.

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#5901

  1. The way the blockchain is designed, means that all transaction are “cast in stone” and cannot be deleted or adjusted. Since the blockchain is also decentralized, it cannot be hacked or controlled and it also measn that the transactions have a verified audit trail which can absolutely trusted.

  2. A normal database can be manipulated with entries changed or deleted and it vulnerable to hacking. It is also centrally controlled which means the trust levels are far lower.

  3. Digital provenance provides for trust, which in turn allows for trade with 3rd parties who you do not need to trust. Furthermore the transactions themselves are not only evidence of the values presented but how those values came about in terms of their history, timing and audit trail.

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#5902

  1. Blockchain provides a public ledger that is a database that registers every historical transaction involving the asset all the way back to its minting.

  2. A normal database does not provide the same provenance because there is centralization of the information in the hands of whoever controls the database. The person or institution that controls it is able to tamper data and transactions.

  3. Trust is a big bottleneck when it comes to a wide class of transactions. Digital provenance helps solving a lot of these these trust issues enabling new modalities of business and transactions to be economically viable.

1 Like
#5903

Homework on Provenance - Questions

  1. How does blockchain enable digital provenance?

Blockchain is like a Viking stone. It is a public ledger that can only be added to, not erased or changed.

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

Unlike the blockchain which is decentralized among several different copies of the same ledger, a normal database can be altered by a central entity.

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

It moves from a trust based system to a “trustless” system and makes history verifiable.

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#5904

  1. Block chain enables digital provenance as it can be used in real time making the financial process of auditing much more efficient and verifiable. Every transaction can be tracked.

  2. A normal database can be subject to change, errors etc. Transactions modified, removed, edited, added.

  3. Digital provenance means you don’t have to transact or trade based on trust. You can just verify the details on the blockchain in real time.

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