Homework on Provenance - Questions

Blockchain and Bitcoin 101
#6305

  1. How does blockchain enable digital provenance?
    Blockchain keeps all the records of previous input/ transactions and all of these are immutable.

  2. Why doesn’t a normal database bring the same provenance?
    Because normal database is centralized (under one party/ organization’s authority). We have to ‘trust’ these organizations that they do not falsify or tamper the data.

  3. Why is digital provenance such a great benefit to many businesses?
    It removes the ‘trust’ concept. We don’t need to depend on certain organization/ the other party, everything is available for public scrutiny and we can verify them ourselves.

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#6306
  1. Being a Public Ledger for anybody to verify any transaction on the network and being impossible to remove any but allowing anybody to add.
  2. They are private and opaque. Trust on them is needed.
  3. Easy for any participant to verify and don’t have to trust anybody about the business processes. Businesses can identify issues they might have with other parties. As it is public disclosure businesses, clients and customers tend to not cheat as they could easily be caught just by any part checking the operations’ transactions.
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#6307

1- it allows to track every transaction made over the past
2- traditional DB allows users or admins to alter , erase or delete any registry
3- it could be a great benefit to turn them into a trustless company

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#6308

How does blockchain enable digital provenance?
Blockchain enables digital provenance by keeping permanent records, that enables to track every transaction in real time, makes everything more efficient. You can put the accounting layer together with the transaction layer. information of the accounting/invoice will be visible in the transaction.
Why doesn’t a normal database bring the same Provenance?
a Normal database is centralized and is not transparent of his transaction/track records. So you have to have trust in a third party and that falls away with blockchain technology. Being able of tracing things with blockchain technology, removing trust of so many industries, Trustlesness is what we ant to achieve with blockchain.
Why is digital provenance such a great benefit to many business?
Digital Provinance is a great benefit because with the public ledger you are able to see where the ingredients come from, where the items has been, wiche part of the supply chain it has past, what the state was of the product in each time of the supply chain. Creates more value, is iffencience
Being able to track something ( where your clothes come from,…)

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#6309
  1. Blockchain produces an immutable digital record, where tracking and authenticating will be completely trustless.
  2. Normal databases are not immutable, they can be changed and altered at a keystroke. Therefore, a normal database would not have the same level of verification and authentication.
  3. So much time and money are spent on auditing the accounting and transactions that are required to run a business. Digital provenance disrupts the trust that is required today with a standard of verification that does not require the auditing aspect altogether.
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#6310

Continuing the discussion from Homework on Provenance - Questions:

1.By means of a de centralized trust less Ledger/Database, that combines the accounting layer and the transactions layer in one place.

2.It is not like the Runestone, a normal database can have data added in at any space and time without any ledger/network of computers to verify its authenticity.

3.It provides the business with Trust less tracking of accounting and supply chain

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#6311

  1. How does blockchain enable digital provenance?
    By storing transactions in a public decentralized ledger where the stored Transactions cannot be changed or deleted. The transactions are verified by millions of others and that gives Trust.
    History is saved as a chain so everybody can see what has happend in the past.

  2. Why doesn’t a normal database bring the same provenance?
    Transactions are stored in a central database that can be copied, deleted and changed. The trust lies with one or more parties.

  3. Why is digital provenance such a great benefit to many businesses?
    Efficiency in auditing. It adds the value of trust to the transactions.

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#6312

How does blockchain enable digital provenance?
Blockchain stores information in a public ledger. It is immutable and by being public the information can be tracked and audited.

Why doesn’t a normal database bring the same provenance?
A normal database can be updated. That means information can be inserted or deleted.

Why is digital provenance such a great benefit to many businesses?
It removes need to trust and can be verifiable, providing real time auditing.

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#6313

1 How does blockchain enable digital provenance?
Blockchain enables the tracking transactions, or changes of state of a ting, or exchange of a good between different parties and performs this in such a way that the record is inmutable,

2 Why doesn’t a normal database bring the same provenance?
A normal database is typically hosted by a single party, and therefore it potentially susceptible to manipulation or tampering, which is the reason by auditing companies and external regulators need to perform audits to companies owners of such databases. With blockchain, since the database or the ledger is hosted by a network of computers, the record is public and can be autiden with anyone with access to the ledger, hence the term distributed ledger.

3 Why is digital provenance such a great benefit to many businesses?
Provenance allows businesses to prove that they actual “walk the talk”. For example, in the
jewelry business, a company thanks to provenance can assure its customer that the diamonds it sells are “blood free”. Or a company that sells caviar from the Caspian Sea can guarantee that its products comes from Caspian Sea Sturgeon. Etc etc. When businesses register their processes digitally in a public ledger, that can prove to their customers and auditors that they perform their business legitimately, and that is important to them as it affects their reputation and perception of quality.

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#6314

  1. Blockchain enables digital provenance by way of its unique characteristic of operating as a transaction layer and an accounting layer that is validated by a consensus mechanism. It is this consensus mechanism that validates all nodes operating the system in a trustless network, which creates real time auditing.

  2. A normal database doesn’t bring the same provenance as a blockchain database because there is no consensus mechanism that validates all levels of the supply chain through node operators

  3. Digital Provenance is a great benefit to many businesses because it allows for real time auditing of all their goods and services. It can break down supply chain issues and track the quality of a product through all stages of development. It can also help businesses save loads of money by following real time supply chain issues and finding out where they can cut down cost and not incur any losses without knowing the exact point of failure.

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#6315
  1. You can trace transactions and all the history of all the components in real time on the blockchain, in a trustless way because everything is recorded.
  2. Because with blockchain technology you cannot delete records, only add, every computer of the network has the copy of the blockchain and can validate transactions, so the database cannot be manipulated and is not centralized unlike a normal database.
  3. Because it brings transparency; currently there is a lot of trust involved and opaqueness, but by having a public ledger where we can track where everything has been, you can actually guarantee and bring value to your customers, plus it adds efficiency.
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#6316
  1. How does blockchain enable digital provenance?

Data can not be removed or changed once it is written to the blockchain.

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

Because someone, usually the administrator, can make changes or correct errors.

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

It should prevent fraud.

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#6317

  1. How does blockchain enable digital provenance?
    By using its nature that’s immutable; all actions or datas are recorded into the chain as blocks (hence the name). Once data is recorded, it can never be deleted or manipulated in any way. You can only add into the blockchain (new blocks), but can never remove anything.

  2. Why doesn’t a normal database bring the same provenance?
    A normal database is mutable, meaning we can temper with it. It can be copied, edited, deleted, and manipulated in certain ways to work in our favours.

  3. Why is digital provenance such a great benefit to many businesses?
    Digital provenance offer complete transparency, it removes the need of trust (trustless).

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#6318

Answers on Provenance homework :

  1. Blockchain provides by design an audit trail which can be checked by anybody (public ledger), and transactions cannot be erased nor modified.

  2. normal databases at a company level or a bank can only provide info to authorized users and within what the company/bank can control, within their scope of work. Besides, not all databases are designed to leave an audit trail, i.e. making it impossible for users to delete or modify past items.

  3. Digital provenance on a public ledger could give a business, its suppliers or clients the possibility to verify past transactions at any time.

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#6319

  1. Blockchain allows real time auditing of transactions

  2. Data in a normal database is not publicly accessible so not everyone can verify transactions and that data can be changed in one single location

  3. It can allow easy tracking and verifying of information and it is a trustless process so you can verify information instead of just trusting the source

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#6320

How does blockchain enable digital provenance?
Blockchain enables digital provenance through a trust less public ledger that is immutable in that information can only be added by the supply chain.

Why doesn’t a normal database bring the same provenance?
A normal data base is owned by a central authority with the information stored on hardware or in cloud storage where the owner has or can assign administrators who determine access controls. This requires trust. Administrators can amend or remove data this can become a problem if multiple silos are providing data to a central network as disparity and corrupted data can compound any consequences to outcomes arising from the information extracted by users, this is especially critical if an organisation assumes liability for the information they provide to end users or need to investigate a supply chain issue. Rubbish in rubbish out.

Why is digital provenance such a great benefit to many businesses?
Digital provenance is a great benefit to a business as users can have confidence a suppliers information is correct as a ledger can be created from the seed of the supply chain to end user with the ability to provide data in granular detail. The use off RFID can further reinforce this by providing a digital passport for individual products enabling the identification of authentic or counterfeit items.

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#6321
  1. Though a digitally recorded history of immutable transactions on a block chain.
  2. Because it data can be changed or deleted in a normal database.
  3. No trust is required to verify transaction history of just about anything that can be recorded on a digital ledger.
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#6322

  1. Because every transaction gets stored on a ledger and verified by a network via the Blockchain, it makes it easy for the accounting layer and transactional layer to be put together seemingly and efficiently.

  2. It is not as automated, verified or as quick/efficient as the network on the bolckchain.

  3. Because it accurately tracks and verifies data or transactions without the human error or time as a risk.

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#6323
  1. Makes it possible for everyone to verify the history of something
  2. Normal databases have records that can be deleted or overwritten
  3. Allows for business to be conducted in a manner that requires neither trust nor the involvement of a third party
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#6324

1, by being immutable and decentralized
2.because it is highly mutable, can be easily manipulated, forged, duplicated, etc.
3. it cuts out a need for a trust and human error, dumps down a shadiness of business & any governance, chokes corruption, brings more transparency, tax clarity, promised quality of product(s) ordered, etc., but unfortunately most of “big businesses” and politicians actually hate that from obvious reasons, hence such a struggle of blockchain adoption:P

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