Homework on Provenance - Questions

Blockchain and Bitcoin 101
#6345

How does blockchain enable digital provenance?

Blockchain enables digital provenance because it exists as an immutable decentralized public ledger on multiple networks. This allows “Real Time” verification of both transaction and audit layers by providing a level of transparency creating
“Trust-less-ness.”

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

A normal data base doesn’t bring the same provenance because they are centralized, lack transparency and their data can be altered at any time so there must be a level of trust.

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

Digital provenance is a great benefit to business’ because it allows for tracking and auditing each transaction in Real-Time. The public ledger creates “Trust-less-ness” in transactions that are encrypted but visible and auditable in real-time helping to increasing efficiency.

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#6346
  1. Blockchain is a distributed (no central authority), public (visible to all intended audience) ledger where any of the previous transactions can not be modified or deleted as part of any malicious activity.
  2. The data in a normal DB can be modified or deleted unlike a blockchain where you can only add transactions and not modify or delete them. A normal DB is also generally controlled by a single authority that has the power to do anything they will with the data.
  3. Businesses can remove the need for “trust” in how they work with their partners and instead leverage the power of blockchain and digital provenance to verify transactions or audit anything on the blockchain, in real time.
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#6347
  1. Being a decentralized Ledger which records every input of data, Blockchain makes possible to track the trajectory of an item in discussion. One great use case that can be used as example is the use of Blockchain by Supply-Chain management.
  2. A regular database has fragility of be shutdown by a Irregular input or even attacked by Crackers, such situations would be harder to happen on a Blockchain since the technology behind it enable each node or computer part of the network to have its data and validate inputs on the chain which is also called consensus.
  3. Because it brings transparency, real time tracking and the trust less idea.
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#6348
  1. It makes all transactions visible
  2. In a normal database you can add and remove data, in the blockchain you can only ADD and not remove.
  3. It creates trustlessness and allows people to verify what the company says they are doing that they’re actually doing.
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#6349

  1. Blockchain records and verifies transactions in real time. The transactions (or data) that are posted and verified become permanent and cannot be altered once verification takes place. The data is publicly available to be viewed and, therefore, allows anyone to track and trace information on the Blockchain.

  2. A normal database can be altered and requires “trust” to be managed and maintained. Transactions posted on a normal database can be altered by adding and removing data. Blockchain technology does not allow information to be altered once it has been verified.

  3. Digital provenance is a great benefit to many businesses because it allows the business to source the origin of inputs or resources used in the production of goods. it also brings cost savings.

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#6350
  1. The blockchain is decentralized and uncontrolled by anyone. It cannot be changed or alter and technically all information on the blockchain is completely public, so it is undeniable. This makes tracking anything digitally easy and reliable, all events are recorded, all events cannot be altered or messed with by anybody.
  2. Normal databases are usually in the control of a person or entity. All events that are recorded can actually be altered and changed enabling the possibility for fraud to occur.
  3. It provides an undeniable honesty and transparency between businesses and consumers and also businesses and other businesses.
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#6351
  1. how does blockchain enable digital provenance?

The blockchain makes it possible to store the origin of transactions in a public and decentralized ledger that is transparent and tamper-proof.

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

A centralized database is usually operated and controlled by only one instance. There is a possibility that the data is incorrect, changed or deleted. In addition, with a centralized database there is the possibility of a technical defect and thus access is no longer possible.

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

Digital origin brings finances and transactions under one roof and facilitating an audit. Due to the transparency, the transactions can be considered tamper-proof and trustworthy what gives confidence to business partners and customers.

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#6352

  1. The permanency of an entry in the public ledger enables the tracking record to be true, always.

  2. In a normal database, an entry can be copied and applied to create fraudulent entries. An entry can be undone and erased in a normal database, also.

  3. To combine the accounting ability/layer and the transactional entry/layer to work together in real time, in tandem, has the potential to lower the cost of doing business, substantially.

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#6353
  1. How does blockchain enable digital provenance?

Blockchain allows us to keep track of a transaction (digital tracing) in ledgers which keeps going through a network of computers.
If anything is changed in a previous block, then the entire chain will be invalid.

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

Because a normal database = Centralized, here there is a risk of subject to human error, control and manipulation by e.g governments, banks and organisations.

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

Digital provenance is of utmost value to e.g businesses because the blockchain can track in real time, authenticity and production.
All this opens up for new and more business opportunities!

“Never trust, always verify”

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#6354

Provenance (from the [French] provenir , ‘to come from/forth’) is the chronology of the ownership, custody or location of a historical object.[1] The term was originally mostly used in relation to but is now used in similar senses in a wide range of fields, including [archaeology], [paleontology], archives, [manuscripts], printed books, the circular economy, and science and computing.

Provenance is conceptually comparable to the legal term chain of custody .

Ivan says blockchain will be useful for:
Auditing in real time. (Accounting context)
Blockchain combines accounting and transactions into one record.
Tracking ingredients in food (provenance of food), tracking clothes (no child labor).
Blockchain is trustless and transparent, unlike a normal database.

Benefit to businesses because “trustless and transparent” adds value. Don’t trust, verify!

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#6356
  1. Because blockchain provides a public, decentralized ledger.
  2. Because they are centralized and mutable.
    3.it allows them to bring the transparency to their supply chains.
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#6357
  1. Blockchain enables digital provenance by using a trust less public ledger that can be verified and doesn’t allow transactions to be erased.
  2. A normal data base doesn’t bring the same provenance because they are centralized which means data can be changed or deleted so there has to be a level of trust involved.
  3. Digital provenance is such a great benefit because it makes real-time auditing possible and accurate traceability of all products.
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#6358

  1. By being trustless, irreversible and immutable.

  2. Data can be erased and/or duplicated without any problems. It therefore is the difference of a distributed ledger.

  3. It makes all manual auditing obsolete because it is being done by the blockchain. Therefore businesses have more certainty and need fewer costly middlemen/services.

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#6359
  1. Blockchain enables digital provenance because anyone can verify snippets of information and trace the chain of transactions from beginning to end.
  2. Blockchains have two important properties that distinguish them from a normal database:
    a) Erasing past transactions is not permitted.
    b) No central authority (a Government, a country, a large company) has the power to determine what is written and what is not written. Anyone that pays the transaction cost can write in the blockchain.
  3. There are many use cases in which the auditablility/traceability of digital provenance is a benefit:
    a) finance - The use case normally has to do with the ability to audit financial transactions, make sure they are legitimate and not corrupted by an intermediate party, and have all financial numbers or parts thereof publicly available.
    b) supply chain -If you check for example OriginTrail’s website you will see many use cases in supply chain. For example, checking all the steps that happen before you get a T-Shirt in your nearby store. Where do the fabrics come from? Has there been any intermediate company involved in child explotation? Another example of supply chain management also supported in OriginTrail is trace the origin of food. As consumers are becoming more aware of social injustices and environmental problems or animal right abusers, they will more and more demand full provenance of the items they buy. Not having this information publicly and incorruptibly available in the blockchain can result in loss of business.
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#6360
  1. Blockchain enables digital provenance in that it acts as a digital ledger to track transactions.
  2. A normal database doesn’t bring the same provenance, because data can be duplicated. But on the blockchain, data cannot be duplicated nor removed.
  3. Digital provenance is a great benefit to businesses in that it can track whatever comes and goes to the company. There would be no way to fake transactions.
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#6361

  1. Blockchain tracks from the earliest transactions through a large decentralized community. Each member or computer of the community acts as a verifier for the transactions made. With so many computers verifying transaction data can be added to a public ledger. Data, however, cannot be taken off of the network.

  2. A normal database does not bring the same provenance as data can be deleted or lost. For example, an icloud account could be deleted from a server; on the other hand, data on a blockchain network cannot be lost as there are multiple people verifying each transaction of data.

  3. Digital provenance can be a great benefit to many businesses through the use of real-time auditing. The efficiency of data being tracked in real-time can reduce time and money spent on accountants and auditors.

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#6362
  1. The blockchain acts as a database, allowing for all transactions to be saved and available to see by the public.
  2. A normal database could be altered and may not be publicly available for observation.
  3. Digital provenance allows for transparency, which takes away the need to trust a business, as all the information is open to see. This also may create the potential for easy auditing.
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#6363
  1. Digital provenance is allowing to verify to a certain extent data which was imputed into blockchain.
    For example it is easily allow to audit financial transactions, owning rights, but it is harder to verify other things. But when information gets into blockchain it becomes easy tracible and trustless.
  2. Centralized database can be changed by the owner, it has more weak points then decentralized database.
  3. Businesses and clients dont have to rely on information from supplier but can verify history - origin of items on blockchain.
    For example : food, close, preciouses stones, auto parts, different components, building materials.
    Blockchain can minimize counterfeiting.
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#6364
  1. How does blockchain enable digital provenance?
    By having a public ledger that is verifiable by everyone
  2. Why doesn’t a normal database bring the same provenance?
    Often these are disclosed and also allow reading, writing, and editing
  3. Why is digital provenance such a great benefit to many businesses?
    We don’t need to rely on third parties in the chain of events to provide the correct data.
    Don’t trust, but verify.
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#6365

1.We can trace every transaction which must be validated and we can not remove anything from blockchain.
2. Normal database is centralized and owners can manipulate those data in blockchain is decentralized, we don’t need to trust data provided, blockchain verify it.
3. Most valuable thing for businesses is transparency.

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