Homework on Provenance - Questions

Blockchain and Bitcoin 101
#6265
  1. How does blockchain enable digital Provenance?

Data injected in to Blockchain ledger is immutable in the sense that it can only be added and not updated. History of data from its inception to various stages of the data life cycle is maintained in all the nodes of the network. This helps in maintaining the audit trail of the data there by enabling digital provenance.
2.Why doesn’t a normal database bring the same provenance.

There is a trust on central authority who maintains the database and hence can be easily manipulated.

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

It puts the accounting layer / transactional layer together. It has real time auditing and hence removes the need for any 3rd party auditing (Saves a lot of time and cost associated with it too). Additionally since it maintains the history of data from inception in various nodes, it brings in transparency in tracking the source of data thru auditing.

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#6266

  1. Because is inmutable and public, you only have to verify what has been done in the ledger.

  2. Because in a normal database you can do modifications or remove data.

  3. Because they can do the trazability and audit where the things come from.

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#6267

  1. Because every single transaction is forever there. Immutable, permanent. You cannot remove it even if you tried, making it the most trustless enviroment possible when it comes to flow of information.

  2. A normal database is edited freely by its users, allowing them to add, remove and edit information. Therefore, it’s a trust enviroment.

  3. There are limited ways to manipulate information inside the blockchain. One cannot remove information, one cannot change information, one can just create information.

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#6268

How does blockchain enable digital provenance?

  1. Whilst combining the transaction and accounting layers they are also creating transparency in the system and when blockchain is used everything put into the database is unable to be removed so everything is permanent.

Why doesn’t a normal database bring the same provenance?
2. In a normal database where the transaction layers and accounting layers are separate, Fraud and mistakes are able to sneak into the accounting record. Also, past data can be removed as it does not have immutability, this isn’t possible on a blockchain.

Why is digital provenance such a great benefit to many businesses?
3. Product businesses will be able to track their supply chains better, even making them public on a blockchain. This transparency results in consumer confidence. Accounts can be audited faster and safer without any need
of a middleman, it is just done by the blockchain.

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#6269

  1. blockchain enables digital provenance because with blockchain being a public ledger, it allows for easy tracking of transactions activities that has happened on its machine.

  2. A normal database cannot bring the same provenance like a blockchain database because in most cases the normal/traditional database are not public, its also difficult searching through for transactions histories.

3… digital provenance would be of great benefit to many businesses because it would create more trust between the business and their customers because everything would be on the public domain.

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#6270

  1. It enables digital provenance with decentralized nodes verifying immutable transactions that will remain on the blockchain indefinitely.

  2. A normal database is centralized and mutable.

  3. It can enable transparency and integrity of the businesses and its products.

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#6271

Via a public ledger. All information is available in real time via a record(ledger).

Notmal database is easily corrupted. Slow systems, a lot of ‘middle men’ in between.

Trustless. Don’t need to trust but can verify. More cost effective, Organisations can move faster because information is available in real time.

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#6272

  1. As a blockchain is a ledger that items can be added to but never removed from, we can have confidence that the history it describes is an accurate one.

  2. A normal database is centralized - meaning someone has the privileged access necessary to edit entries. As such, the history can only be trusted in as far as the we can trust the parties capable of editing the database (either through their legitimate access or surreptitious means). Blockchains decentralize consensus and prevent any one party of altering an entry’s provenance.

  3. Digital provenance gives businesses the ability to (easily, cheaply) verify claims being made for themselves without placing trust in their counterparty or a third-party inspector.

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#6273

  1. Every transaction is publicly available making it easy to track. Impossible to manipulate and no need to rely on third parties thus creating a trustless system.

  2. Relies on third parties or an overseer of the database. Trust is needed to make sure all information is honest and accurate.

  3. It eliminates the need for a third party to oversee the database. Business can interact peer to peer on a trustless system that is completely transparent.

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#6274
  1. How does blockchain enable digital provenance?
    The block chain provides a hashing function on each transaction as well as hashes the previous transaction. This allows for tracking from one transaction to another. So if for example, a food company claimed to get certain quality products, one would be able to track back through the transactions of the food chain in order to verify the actual original suppliers.
  2. Why doesn’t a normal database bring the same provenance?
    A normal database system does not keep track of the suppliers and if it did, not in a similar way that is detached from any alteration on the supplier’s end. The information is public to everyone and unalterable (through the use of digital signing).
  3. Why is digital provenance such a great benefit to many businesses?
    Knowing that a business is actually supplying what they claim to be supplying is very important. Knowing that the origins of a particular raw material in their product is not actually what was claimed to be is important in assessing and also ensuring the quality of the products a business aims to build/release to the public.

:slight_smile:

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#6275

  1. Blockchain can provide real time auditing and you can trace every transaction. Because blockhain can be open public ledger.

  2. Mostly you cannot change information what you puted on blockchain and you need trust database administrator. Also blockchain dont verify if its data that was putted on blockchain is true state in real life.

  3. Trust with customers and business. Quick access to information.
    Speed of provenance.

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#6276

  1. The Blockchain enables digitals provenance because everything is saved in the blockchain database. If its there nobody and fake or delete it.

  2. A normal database doesn´t bring the same provenance because we have to trust a third party which is not always reliable.

  3. Digital provenance is such a great benefit because they can save a lot of many during a few processes. For example they might not need an accountant who double checks all the transaction. With that a lot of processes are getting automatized. Saves money and energy.

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#6277
  1. Audited in realtime.
  2. Normal database can be modify,delete but in blockchain, you can only add a data on it.
  3. customer can track their transaction process in realtime without any anomaly, and also the company can save a lot of money thru this way.
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#6278

  1. How does blockchain enable digital provenance?
    Every transaction is recorded and verified by all nodes on the network.

  2. Why doesn’t a normal database bring the same provenance?
    Normal database has “delete” feature, blockchain “database” only supports “add” function.

  3. Why is digital provenance such a great benefit to many businesses?
    Every transaction is recorded and verified, this is considered being audited so this makes the audit much simpler and cost effective.

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#6279

1 - through a trust less public ledger that is immutable.

2- Because database is owned by a central authority with the information stored on hardware or in cloud storage where they have complete control. Lot of opaqueness.

3 - because users can have confidence a suppliers information is correct. They don’t have to trust the biz. Just verify

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#6280

  1. With the capability of tracking all transactions.

  2. Classic database allow all CRUD operations.

  3. it is trust less :slight_smile:

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#6281

Homework on Provenance - Questions

  1. How does blockchain enable digital provenance?

Blockchain is a public ledger that everyone can see, and no one controls. Therefor anyone can track the origin of any transaction.

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

Because such database is centralized and not available to the public.

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

Now businesses will be able to audit in real time and avoid all the extra fees of hiring a 3rd party. It also provides a better relationship between consumers, for there is more trust.

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#6282

Homework on Provenance - Questions

  1. How does blockchain enable digital provenance?
    Transactions are not trust based, transactions are verification based.
  2. Why doesn’t a normal database bring the same provenance?
    A normal database does not allow the ability for the public to view/audit transactions in real time.
  3. Why is digital provenance such a great benefit to many businesses?
    Businesses can track exactly where ingredients come from and its business practices.
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#6283

I. It maintains a public ledger that everyone can see and verify data and transactions. This makes realtime audit possible

  1. I normal DB cannot offer provenance because it is not publicly accessible. it can only be audited when the owner make it available to auditor, and the public has to trust that the owner is honest.

  2. It a benefit because it take control away from a central authority and transfers it to the public. So the public can know for sure what goes into the production of good and services

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#6284

The block chain is an immutable transaction ledger. A database is not immutable.