Homework on Provenance - Questions

Blockchain and Bitcoin 101
#5905
  1. How does blockchain enable digital provenance?
    Since blockchains only record transactions and never update or delete transactions, the origin and transactions can be trusted.
  2. Why doesn’t a normal database bring the same provenance?
    Because the data can be changed in a normal database and cannot always be trusted.
  3. Why is digital provenance such a great benefit to many businesses?
    Transparency on the transactions, so the records are authentic
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#5906

  1. How does the blockchain enable digital provenance?
    Blockchain enables digital provenance by recording all data on a public network ledger that cannot be removed, changed or deleted.

  2. Why doesn’t a normal database bring the same provenance?
    A normal database can be manipulated, change or erased, which diminishes trust in the entity’s that control the data information.

  3. Why is digital provenance such a great benefit to many businesses?
    It gives the business verifying traceability on the products or services it supplies to their customers.

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#5907
  1. It allows data to be added but not removed
  2. Blockchain data requires verification by the network while normal databases can be manipulated by operators (centralized)
  3. The ability to increase efficiency with the financials being audited in real-time
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#5908

Blockchains enable digital provenance by being a distributed, immutable, and public ledger. They keep track of the ownership of assets, anything that has value. A blockchain is a network of distributed computers that maintains the ledger. So each node in the network has their own copy of the ledger. Since the ledger is immutable therefore you can’t change it; you can only append to it. The Bitcoin and the Ethereum blockchains are public blockchains that allows anyone to verify any transactions on them and create transactions on them. Unlike blockchains, normal databases are generally centralized so is no guarantee that a normal database will be immutable. Even if you can access the data in a database, there isn’t a way to tell if the data has been tamper with. That’s why normal database doesn’t provide the same provenance that blockchains do. Businesses need to be able to track assets such as money, supply chain, and etc. Businesses need to be able to get their books audited. That’s why businesses could benefit from digital provenance.

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#5909
  1. It makes it so things are visible and everything is transparent.
  2. Blockchain is decentralized while databases are centralized so they do not provide true provenance.
  3. Helps out a whole array of businesses and revolutionizes many ways of how we currently do things.
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#5910
  1. Through their digital stone system, recording all transactions and enabling us to track how each coin moves around
  2. because it does not provide a complete picture. With the decentralised network, you can track all transactions ever. While a normal database stops at some point, requiring trust.
  3. it removes trust from the equation. No more need for supplier trust, you can verify.
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#5911

  1. Provenance is provided via the nodes on the blockchain verifying transactions and providing verification for auditing purposes. This removes need for trust.

  2. Normal database is just one copy. Blockchain is multiple copies to provide proof

  3. Allows for auditing in financial transactions, food industry, clothing and other potential industries - verfication and proof

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#5912
  1. How does blockchain enable digital provenance?
  • uneditable real time public records on the internet.
  1. Why doesn’t a normal database bring the same provenance?
  • blockchain eliminates the problem of fake and delayed records that is not audited
  1. Why is digital provenance such a great benefit to many businesses?
  • It is public and real time
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#5913
  1. How does blockchain enable digital provenance?

It is transparent, public and immutable so anyone can see it in real time.

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

A normal database is private and usually owned by a central actor. It can be hidden, fudged, hacked or taken down. You have to trust the organization or individual that runs the database because you have no way of monitoring the data yourself.

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

It opens up the possibility of trustlessness and transparency provided that’s what a business really wants. Most honest businesses should have nothing to hide.

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#5914

1 By making it decentralized therefore we don’t have to trust anyone no government ,company can control the blockchain and change the data

2 because there is a central authority that can control it and it can be hacked easily and manipulated
3 because it can be tracked therefore accurate traceability products can be verified more trust involved ,real-time auditing

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#5915

  1. It provides a verifiable, chronological listing of all transactions. Being decentralized, fraud is eliminated and digital provenance is achieved.

  2. it can be manipulated, data changed, is centralized.

  3. Provides a higher level of certainty, can reduce transactional fees/middlemen, auditable.

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#5916
  1. By being decentralized and allowing real-time tracking & tracing of transactions. DONT TRUST!! VERIFY!!
  2. Normal databases are centralized and can be manipulated by different organizations.
  3. Digital provenance allows business to verify things on their own without having to trust the word of other organizations. It provides crystal clear transparency.
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#5917

Imagine going to a 5 star restaurant and being able to read the exact history of where your food is coming from. You could make your choice based off how fresh the food was at that moment in the kitchen. Wagyu killed earlier this AM and overnighted vs tuna frozen and stored for 2 weeks, I know what I’m ordering :grin:. Very cool, my mind is racing right now

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#5918
  1. You cannot remove any data from a blockchain but only add so this makes it traceable
  2. No , You can remove data from a regular database
  3. Provenance is a benefit because businesses dont have to trust but only verify and trace data - Vechain is doing that
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#5919

  1. With Blockchain, every transaction is kept on a public ledger that’s visible to anyone in the world. Transactions can only be added to this ledger, not removed, and it is constantly updated in real-time via coding. This minimizes human error and makes the need for trust non-existent.

  2. Normal databases are centralized therefore a layer of trust is required as we rely on this central authority to upkeep the ledger.

  3. With blockchain, a business can avoid lengthy audits or accounting work. Transactions on the blockchain are updated in real-time, saving a company time and money. Aside from tracing transactions, blockchain can also be used to trace things like items in a supply chain or ingredients for a product.

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#5920
  1. Because of immutability.
  2. Because most of them are centralized. Therefore the data can be changed. It is NOT trustless like blockchain.
  3. It’s simple and efficient
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#5921
  1. How does blockchain enable digital provenance? Users get a digital signature and transactions are authenticated and recorded on the blockchain. Blockchain allows tokens/coins to be traded between users.
  2. Why doesn’t a normal database bring the same provenance? A normal database can have human errors or be manipulated where provenance is based on verify not Trust.
  3. Why is digital provenance such a great benefit to many businesses?
    Businesses don’t need to trust. Everything is verified in a decentralized ledger this allows it to be audited and verified.
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#5922

  1. Blockchain is allowing digital provenance to track all the transaction in secure database. Transactions can only be added, but can not be removed from the database. Provenance is able to track and auditing in the real time.

  2. Normal database can be add or removed easily. It is controlled by people. Database can be lost and stolen easily. Not much verify for security. Not tracking in a real time manner.

  3. Digital provenance plays in important role to many businesses because it is providing real data tracking. Data can not be manipulated and it is also fast and secure.

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#5923

  1. How does blockchain enable digital provenance?
    Blockchain enables provenance by tracking data and being trustless.

  2. Why doesn’t a normal database bring the same provenance?
    Data cannot be altered or removed once tracked. Data is visible to everyone.

  3. Why is digital provenance such a great benefit to many businesses?
    Because you can verify the whole supply chain to improve processes and make those processes transparent towards the customer. This is also great to track charities as charities can now be trustless using provenance.

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#5924

The blockchain allows it because no data may be removed, therefore all data maintains integrity. A normal database can be manipulated because it is stored on a central location. Digital provenance is what allows for more efficient auditing and removes trust from institutions

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