Homework on Provenance - Questions

Blockchain and Bitcoin 101
#6386
  1. How does blockchain enable digital provenance?

Blockchain enables digital provenance by creating permanent and unchangeable public records.

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

Traditional CRUD databases are subject to a single point of failure if not mirrored properly, a plethora of attack methodologies and broad attack surface, require maintenance and optimization, are subject to data anomalies, rely on relations and so much more. All of these qualities are the antithesis of provenance.

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

Digital provenance allows for an immediate audit trail. As Ivan mentioned, that feature alone has the potential to disrupt entire industries. From supply chain management to financial transactions, many businesses may find provenance beneficial. I happen to believe that once adapted on a large scale, the primary beneficiaries will be consumers. It seems to me that there are many industries that will push back on the very concept of digital provenance.

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#6387

  1. Blockchain enables digital provenance because it is a digital stone as said in the lectures that keeps track of all transactions, making it easier to track anything since it is a public ledger.

  2. Although a normal database may keep track of the same transactions, it is still has a lot of red tape that people have to move past to get the information they are looking for. Normal databases are still handled by a centralized authority who require authorization to access the information you want; and it is not as immutable as blockchain where no transactions can be deleted or edited so easily, making true provenance unlikely.

  3. Digital provenance would expedite so many interactions where they can remove the middleman from the equation. Rather than rely on auditors to come in to check on their physical receipts or have to keep tedious records of their own transactions, companies can store all of their transactions into the blockchain making it easier for everyone to access and verify.

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#6388
  1. How does blockchain enable digital provenance?

Blockchain technology helps establish that by allowing a public ledger that tracks all transactions without the possibility of modificiations once its on the blockchain it stays on the blockchain

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

It is centralized and has a high risk of error even with the best data auditors and human verifiers errors are still prominent and therefore makes trusting normal data a difficult task that requires further verifications

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

It helps businesses save costs and money why use Auditors and CPA’s to do hours and hours of work when there is a ledger displaying all records and that reduces the time variable promoting effectiveness in the process

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#6389

  1. How does blockchain enable digital provenance?
    due to the immutability of the ledger we can track any transaction that happened in the chain

  2. Why doesn’t a normal database bring the same provenance?
    It is not inmutable, the owner of the database can change or update values and we will lose previous states, even if those changes are tracked they can be changed by the administrator and we have to trust in the third party managing the database

  3. Why is digital provenance such a great benefit to many businesses?
    I was searching for words to explain my thoughts about it and I found the next quote on google, I think it resumes why: they do not have to rely on third parties to audit or access records or transactions

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#6390

  1. Blockchain enables digital provenace through trustlessness and decentralization of any asset where anyone anywhere can verify it without risk of non-transparency

  2. A normal database doesnt because it is basically controlled by an entity or government and we have to trust what they put on the said database, not what is.

  3. it is of great benefit to many businesses because their customers or clients stay satisfied knowing fully well there is full transparency in regards to their products or services. you know exactly what you get.

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#6391
  1. How does blockchain enable digital provenance?

With blockchain everything is transparent and traceable, since it is a digital stone where data can only be added and not removed. This means that it is very easy to control, check and verify everything.

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

I believe that the key to this is transparency. A blockchain database is immutable so everything can be verified. It is not possible to manipulate with the data, which could be the case in a normal database.

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

It is a more cost efficient and transparent system. Everything can be controlled and verified by the customers so that they are sure they receive the quality that they desire.

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#6392
  1. Blockchain transactions are stored on a public ledger so all transactions that were ever completed on the chain is easily traceable and cannot be changed.

2.A normal database doesnt provide the same provenance because they dont contain a consensus mechanism and all transactions are easily altered.

  1. Digital provenance is valuable because it removes the need to trust the history of any particular item and allows you to verify any relevant piece of its data using the blockchain (rather than a 3rd party entity)
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#6393
  1. How does blockchain enable digital provenance?
    A database that stores all transactions – can only add data can not deleted or removed – public ledger – network that verifies all transactions
  2. Why doesn’t a normal database bring the same provenance?
    A normal data base is centralized and room for error.
  3. Why is digital provenance such a great benefit to many businesses?
    Transparency, auditing, tracking
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#6394
  1. By having an immutable and verified public record.
  2. Items are removeable non transparent and not neccessarily verified.
  3. Eliminates the additional work and cost of 3rd party providers that have to be trusted to verify your ledgers.
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#6395

  1. How does Blockchain enable digital governance? - Blockchain enables digital governance by having its entire history recorded on itself and available to the masses with full transparency.

  2. Why doesn’t a normal database bring the same provenance? - Chances are that a normal database is not decentralised, resulting in certain privacy’s on the information stored. This ultimately means that no one except for a few people (within the business that owns said database) have access to the information within. This results in a lack of provenance and requires trust for any third party.

  3. Why is digital provenance such a great benefit to many businesses? - It’s great for many businesses due to mainly one thing; Transparency. The transparency (in which the digital provenance that blockchain supplies) improves trust and accountability while also protecting data.

Looking forward to one day soon scanning my groceries and seeing where everything was grown, manufactured, etc.

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#6396
  1. How does blockchain enable digital provenance?

The blockchain is an immutable register of transacctions and you can see the provenance of all transactions without possibility of modifications.

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

Because a normal database possibly is not public and could be modificated because is not a digital stone.

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

Because you can track for example the precedence of the ingredients of the food or you can see the precedence of your clothes.

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#6397

Q1. How does blockchain enable digital provenance?
A. Blockchain is a public ledger that allows transactions - and therefore provenance - to be tracked in real time.

Q2. Why doesn’t a normal database bring the same provenance?
A. Other databases do not have blockchain’s advantages of accessibility, transparency and open verification.

Q3. Why is digital provenance such a great benefit to many businesses?
A. The decentralised network of computers called blockchain has many use cases, including in financial services (real-time auditing) and food production (tracking and verification of ingredients). The removal of the necessity of trust increases efficiency in business relations.

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#6398
  1. It enables digital provenance due to its inability to be changed or controlled by governments
  2. A normal database can be changed and controlled which is why it doesn’t offer the same provenance that blockchain does. It also requires a lot of trust from central authorities and governments while blockchain does not.
  3. It can be of great benefit because not only will it be safer but it’ll provide more trust as now people can verify what they’re getting and see the legitimacy for it.
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#6399
  1. Open publicledger,cannot be removed(immutability) and every transaction can traced back.
  2. because it is centralized any one can change it is mutable.
    3.Real time aduting,we can trace everything, accounting & transaction in one place.
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#6400

  1. Blockchain enables digital provenance by creating a public ledger that documents all accounting and transactions of Bitcoin. One can verify where Bitcoin came from and to where it is going if it is a valid transaction.

  2. Normal databases have a middleman that trust is granted too. This trust could be broken and therefore the database is invalid. With blockchain, trust is taken out of the equation and based on a system in which all parts have to agree that the transaction made sense.

  3. Digital provenance is a great benefit to many businesses because they can show customers concrete proof of exactly where everything in their products came from. They can verify that the things they claim about where their ingredients or parts came from are true.

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#6401

  1. Everything is recorded in the public ledger and therefore the origin is known to everyone

  2. Because a normal database is centralized and cannot be verified without an audit.

  3. It is quick and is “trust less” and allows a business to verify the origin and validity of all transactions.

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#6402

Homework on Provenance - Questions

  1. How does blockchain enable digital provenance?
    Blockchain enables digital provenance by validating each transaction through the network. This ensures that we have full transparency of supply chains, financial transactions, and proof of ownership.

  2. Why doesn’t a normal database bring the same provenance?
    A traditional database is run and controlled by a third party who we trust to keep accurate record. With a third party involved, there is room for discrepancies, fraud, and inefficiencies.

  3. Why is digital provenance such a great benefit to many businesses?
    I think every business can benefit from digital provenance in a way that could streamline efficiency in computing data and overall possibly removing a lot of steps taken in accounting and day to day transactions by recording them automatically. From what I understand after this lesson, it almost seems like taxes and things of that nature could be very automated in the future with blockchain.

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#6403

1 - by only enabling addition of data which is agreed upon various independent nodes
2 - because there you have to trust one centralized entity
3 - you don’t have to trust, only verify. easier accounting, taxing, seeing through your financials etc

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#6404
  1. How does blockchain enable digital provenance?
    as you can only write and you can you not update and delete as then you get more complete tranasaction you can trust.
  2. Why doesn’t a normal database bring the same provenance?
    Because a normal database you can read and write and delete and update.
  3. Why is digital provenance such a great benefit to many businesses?
    As you know the information has not been modified and change as it write only and can not be modified by anyone else.
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#6405

Homework on Provenance - Questions

  1. How does blockchain enable digital provenance?
    Blockchain enables digital provenance because it shows the entire history of an entity in order and can not be changed or altered.

  2. Why doesn’t a normal database bring the same provenance?
    Normal databases have the ability to be altered, duplicated, lost, etc. Some may not have the full information on where a previous entry came from or a full list of all transactions and their full origins.

  3. Why is digital provenance such a great benefit to many businesses?
    It takes out the need for a third-party org. To audit or prove that a transaction happened because the ledger has the entire history and records of transactions that happened for a specific project, item, coin, etc. Therefore a business can search the public ledger themselves. Also, since it can’t be altered you not only can trust the chain but also verify transactions in real-time.

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