Homework on Provenance - Questions

[Mike1]

(1.)After creating a piece, the artist embeds a digital signature which demonstrates the authenticity and records that information on a blockchain. Many refer to this process as tokenization because it effectively creates a blockchain-backed token that you can trade between artists and collectors(2.) Blockchain enables digital provenance because all entries are stored chronologically in the database, replicated across multiple nodes, and cannot be altered once accepted. … A normal database does not have provenance because he entries are not immutable and could be changed by the owner of the database.(3.) Digital provenance is a great benefit to many businesses because they do not have to rely on third parties to audit or access records or transactions,all the data is available openly in the blockchain. This historical transparency can also fight corruption & tax evasion and improve supply chain operations.

[cryptonovice]

1. It enables provenance by being a public and permissionless ledger. Everyone can confirm the transactions that have taken place while every transaction cannot be erased.
2. A normal database doesn’t bring the same provenance because trust with a centralized database owner is necessary leading to a lack of transparency.
3. Digital provenance is a great benefit to many businesses because of the trustlessness and transparency it adds

[bezerkersatoshi]

1. By using a unique mathematical imprint which is shared on a global ledger network.

2. A normal database is easily impersonated hence can not suitable for provenance.

3. Automated decentralization providing efficiency and dependability.

[rpacho]

1. Because it can track transactions and it cannot be removed or changed; therefore, we can verify all transactions instead of trusting someone.
2. Normally databases are host on a centralized service and not decentralized. We need to trust the host and cannot be verified by individuals.
3. It can attract a lot of customers because they can verify the product that they want to buy.

[Lyazzat_Bekturganova]

1. Blockchain keeps all the transactions across distributed ledgers, meaning that each computer involving in the network keeps track of every transaction and its origins, without letting third parties intervene and change the data, so it allows to track its provenance.
2. Because the normal database does not contain public ledgers, it can be easily hacked, intervened, or removed by anyone.Central authority who owns the data storage can erase the data if wants to.
3. Because it saves time, resources and basically it is important to know the origin of your products - especially if you are a supply chain specialist - to avoid problems with expiration date of your products.

[FaronLee]

1. Blockchain leaves a data trail of every transaction that has taken place all along the way. This immediately becomes public knowledge, i.e, anyone can look at it and verify the record of what transactions have taken place.
2. A normal database has been created by some kind of centralized authority, i,e, it is a privately-generated and privately- kept record of transactions. Such records are not necessarily accessible at will by just anyone.
   They could also be falsified much more easily.
3. One major advantage, besides not having to ask to be trusted, is that data can be audited as soon as it is created, basically eliminating an arduous requirement from one’s running of a business.

[13zebras]

@ivan

Homework on Provenance - Questions

1. How does blockchain enable digital provenance?
2. Why doesn’t a normal database bring the same provenance?
3. Why is digital provenance such a great benefit to many businesses?

1. It is a ledger to which you can only add transactions and cannot remove previous ones. Hence “chain” in blockchain. Therefore, it is possible to track the entire sequence of transactions and know where any thing started and where it is today.
2. A normal database is not immutable, so items/transactions can be removed.
3. They no longer need to trust anyone, and instead they can verify everything. Since anything can be verified, in near real time, all business dealings are forced to be honest ones.

[LandLord]

1. It enable realtime auditing . We can verify the transaction right now

2. They can be manipulated by someone , an organization or a third party

3. It combines account and transaction together for an exemple

[bombinko]

1. How does blockchain enable digital provenance?

• Because blockchain transactions are immutable, we can store a state of object in specific time. By doing that we can trace back to the origin of that object.

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

• Normal database can only store current state of object, but not the previous ones.

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

• If there is something wrong with a product, the business owner can trace back to the last moment when to product wasn’t damaged yet and he can contact the entity which damaged the product.

[ChuckBraggUSA]

.1. The data on the blockchain can only be inputted and never can be removed.
2. Regular databases can ne changed, manipulated, removed and there is no verifiable methods. So Trust is an issue.
3. All transactions on blockchain are verified, documented and traced from the beginning to the end. Therefore removing and trust concerns.

[Masterplan]

@ivan

Homework on Provenance - Questions

1. How does blockchain enable digital provenance?
   Because of distributed database - ledger running on nodes where every node has a same copy of the blockchain and cannot be changed. Ledger/database is public so everyone can see all the past transactions on the internet.

2. Why doesn’t a normal database bring the same provenance?
   Because of centralization inside the company - like a bank or other company - where the verification of the transaction/shared info is verified by people and in a certain way can be modified/deleted/erased.

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

Transparency and audit

[lior_barkai]

1. How does blockchain enable digital provenance?
   Blockchain keeping permanent records and improving transparency. the records are immutable .
2. Why doesn’t a normal database bring the same provenance?
   databases are owned by an entity, company can change the data, and you can’t even know.
3. Why is digital provenance such a great benefit to many businesses?
   its encourages verifiable trust by allowing others independent or direct access to full ledger or data.
   it’s reduces traceability time from days to few seconds.
   real-time auditing and accurate trackability

[youngruz]

1. The Blockchain enables provenance by making sure that transactions are shared among all the different nodes of the network. This allows tracking of any and every transaction in real time.
2. A normal database is centralized, that is it is on a central entity so it may need auditing later to prove if each of the transactions made before are accountable.
3. Digital Provenance is trustless so we do not have to be at the mercy of someone based on the belief or trust that they will do or not do something. Everything can be verified before approving a transaction.

[saintsMike]

How does blockchain enable digital Provenance? A: Real-time traceing, blocks are unchangable, blocks are validated, blocks are encrypted, they are secure.
Why doesn’t a normal DB bring the same provenance? -A: It vertually has none of the blockchain characteristics. - DB can be changed, no traceing, no multi-validation, (anyone with access can corrupt the DB, non-distributed, non-secure, single point of failure.
Why is digital provenance such a great benefit to many businesses? A: for accounting businesses blockchains are transparent, provide real-time tracing, data is secure, can combine transactions with other accounting transactions, mulitple validation,

[sachinthakkar]

1 How does Blockchain enable digit provenance? Everything is recorded on the blockchain. Nothing can be modified or deleted. As a result, we have a full history / ledger of information. It is immutable. As a result we have a full audit and this can be done in real time.

2 Normal databases can be changed - We can delete and modify data. Or DBA’s can. This is not possible with blockchain. Hence normal database do not bring the same level of provenance.

3 By having digital provenance we do not have to “trust” the other party. Everything is transparent. Even encrypted blockchain. The blockchain takes the trust element away.

[Davelopa]

@ivan

1. How does blockchain enable digital provenance?

Blockchain technology enables digital provenance by making trustless, permissionless and real-time-audited transactions possible.

Blockchains can work as a distributed ledger where previous data (blocks) cannot be altered or removed and transactions are trackable and can be verified.

@ivan

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

Normal databases cannot provide same kind of immutability, trust and/or enhanced over-all safety the way blockchains can.

Normal databases are usually centralized which brings few obvious and possible downsides when being compared against blockchains. For example, user of normal database will need to trust the service provider for not being fraudulant and for providing the kind of service that is said to be provided. Also centralized entities are more prone to security breaches and other issues that can cause service down-time, weaken security and bad user experience compaired to decentralized blockchains.

@ivan

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

Digital provenance brings value to businesses of any size.

Digital provenance can bring completely new products into an existing catalogue, make new functions possible and bring added efficiency, security, quality, speed and transparency. All the above is possible through trustless and permissionless environment blockchain provides.

[DavidZimbric]

Due to the way the blockchain is setup through a series of nodes with each having their own ledger, it makes it impossible to add a fake transaction to the blockchain or cheat the system in any form of way. therefore it is a trustless form of digital finance that is known as DeFi with many other benefits to it that the traditional system does not have because it relies on trust, where with the blockchain you just verify.

[afzaud00]

1. How does blockchain enable digital provenance?
   Ans: Through transparency as we learnt that blockchain is a public ledger where information can be only added and not removed.

2. Why doesn’t a normal database bring the same provenance?
   Ans: Because normal database is controlled by certain bodies, however this is not the case in blockchain. it is a decentralized system.

3. Why is digital provenance such a great benefit to many businesses?
   Ans: Because it is verifiable (real-time), not only depends on trust and cannot be manipulated or edited.

[jsilver]

1. Blockchain allows one to have full transparency of all transactions from inception to current state by managing an append only distributed ledger.
2. A normal database is typically controlled by a central party, can be amended, and hence requires a level of counterparty trust not required for blockchain.
3. This allows businesses to interact in a trustless manner (peer-to-peer) without the reliance on a third party.

[Nboland]

1. by being able to track The origin of financial transactions, custodianship, and flow of digital money and supply chains.

2. it’s not a public database that everyone can access.

3. it illiminates the need for trust