Homework on Provenance - Questions

Blockchain and Bitcoin 101
#6406

Homework on Provenance - Questions

  1. How does blockchain enable digital provenance?
    It allows a trustless method to verify what’s making up something all together end to end to track its origin with no ability for intervention to modify or cheat the system.

  2. Why doesn’t a normal database bring the same provenance? A normal database allows deletion or modification of records thus changing the state of information. Blockchain is additive.

  3. Why is digital provenance such a great benefit to many businesses? It allows them to cut down on auditing or verifying information spending time having to go through records as its all on the blockchain verifiable for what is or is not in real time.

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#6407
  1. Blockchain enables digital provenance to track each transaction that business performs. Business can easily track, find or verify their important data because it is open source. Trust-lessness is achieved.
  2. Normal database needs a middleman that business puts trust in that all important information are recorded and presented correctly.
  3. Businesses can decrease internal/external audit pocedures. It can be widely used in supply chain management to verify the history of ownership. Human error is eliminated.
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#6408

  1. Blockchain enables digital provenance by tracking transactions and making it trustless where, we do not need any external auditors to verify your transactions.

  2. The normal database can be edited and readjusted as we deem fit and does not give detailed information about what transactions take place.

  3. Digital provenance can help businesses eliminate the need for auditing firms and still provide tracking of details and transactions. It also increases customer satisfaction as they can verify the quality and details about their goods.

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#6409

1.It provide a live auditing in real time of transactions wether they be financial or any other means

  1. a normal database does not bring the same provenance because it is centrally owned or governed by someone and that person can alter the information inputed into the database

  2. it can be used in so many applications for example coffee maufacturers , supply chain businesses , manufacturing businesses. it takes the “Trust” out of the equation of the transaction and replaces it with Verify

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#6410

  1. Blockchain enables digital provenance by being a ledger that is immutable and fully transparent.

  2. Normal databases are mainly centralized and run through many intermediaries creating an environment where the benefits for digital provenance for those individuals are few.

  3. Digital provenance creates transparency and brings ownership back to the individual.

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#6411
  1. How does blockchain enable digital provenance?

Blockchain enable digital provenance by being an open database which data is (near) impossible to corrupt. This means the data stored can be verified and traced back to its origins by anyone (provenance).

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

Normal databases are closed and the data in it can be changed my malicious actors. It has a trust component that blockchain doesn’t have: it’s public, trustless and secure.

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

Thanks to blockchain they don’t have to trust suppliers when it comes to, for example, ingredients in food. They can simply rely on the blockchain to make sure their food contains all and only the ingredients that they need to be in there.

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#6412

  1. By doing on audit on the ledger and see which transactions occur between specific addresses and therefore, knowing who is behind each of them, understand all transactions that occur and therefore the provenance of the funds, where they initially come from.

  2. Because, it’s centralized. So only 1 or a few person (=IPs) own the server hosting the “raw data” and therefore can easily change it if they wanted to. With a ledger like the one used for Bitcoin, each computer that stores the ledger has a proof of the history and therefore provenance can be figured out. If one computer tries to change his history (aka fake the provenance), it will be spotted directly by comparing to the other computers’ ledger.

  3. Because it avoids to have to trust our suppliers. If all provenance’s info are digital and on a ledger, we can always make audit and verify the info rather than having to trust. So you can’t fake it anymore. It’s all trackable…nearly more centralized somehow…in a way that it’s much easier to get data about anything or anyone with the right tools than it was before such a technology.

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#6413

Blockchain enables digital provenance by keeping track of all actions and transactions within a system from its origin, while auditing in real-time, to make the information in the blockchain as accurate and efficient as possible.

A normal database won’t bring the same provenance because every entity within that database has to trust other entities’ data in order for a final output to be produced. Blockchain is a trustless system, which makes transactions and real-time auditing between entities more accurate.

It is a great benefit because it brings transparency to the public. With that comes more impactful feedback for the business to grow more effeciently.

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#6414

  1. How does blockchain enable digital provenance?
    It does so by providing a public ledger that can be verified by other computers that are
    connected to the blockchain,

  2. Why doesn’t a normal database bring the same provenance?
    It does not because it it is not publicly visible and cannot be verified
    by other computers on the block chain. There are not blocs created
    which have to be verified in order to approve transactions.

  3. Why is digital provenance such a great benefit to many businesses?
    It can easily trace the origin of things or transactions. Every transaction can be seen in what is close to real time, by the second or minute which is real time auditing. By doing this a lot of expenses and middle men are eliminated.

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#6415
    • By acting as a trustless ledger, containing different types of information in layers. This information can be accessed by the public or for auditing.
    • Because unlike a normal database, blockchain ensures the information written to it can never be changed.
    • it allows metadata to be attached that could show many different types of information pertinent to the goods or services in question. That type of info could be very important to either the consumer, other suppliers, auditors, or best yet …taxpayer!!
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#6416

1By keeping immutable records on an open ledger.
2Records can be changed or destroyed.
3Real time auditing.

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#6417 
1. How does blockchain enable digital provenance?

Answer: By being a trustless public ledger that keeps track of all transactions of a system. Auditing is done in real-time attempting to keep the information as true as possible. This level of truth is possible as the nodes need to agree on a certain level to publish the transaction in the ledger.

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

Answer: In a normal database, information can be changed with a certain level of ease. As a blockchain is an immutable, trustless public ledger this mutation of information can’t happen.

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

Answer: Transparency is the biggest asset of digital provenance as transactions can be traced by the second of their fulfillment by anyone without the need of a formal centralised entity.

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#6418
  1. Creating a transactions that can bee see it for everyone
  2. You can’t see what exactly happens inside
  3. The users can see exactly what happens with the transactions
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#6419

  1. Because transactions on the blockchain are transparent, decentralized and Trustless.

  2. Because a normal database there is always a third party involved therefore it is centralised.

  3. It allows businesses to operate with high integrity therefore likely attracting more customers.

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#6421

Provenance enables businesses to easily collate their data, along with open data, and also verify key information

A normal database does not have provenance because the entries are not immutable and could be changed by the owner of the database

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

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#6422
  1. By decentralizing the verification process to anyone
  2. Because a normal database is provided by one data source, one provider, which can be falsified and lead to security problems.
  3. It allows removing the Trust notion and improving security.
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#6423

  1. How does blockchain enable digital provenance? Blockchain is an immutable, public ledger in which information can be added but not removed. All transactions have traceability

  2. Why doesn’t a normal database bring the same provenance? Because they are centrally controlled and the authorized entity can do whatever it pleases, including removing data. In other words, the “trust” can’t necessarily be trusted.

  3. Why is digital provenance such a great benefit to many businesses? I would think a permanent record of transactions would be highly beneficial to any business. Being able to trace movement, verify quality and delivery of goods and services with accurate information in real time has got to be an improvement in so many areas. What immediately comes to mind for me is the shipping industry, so many benefits when compared to the prehistoric bill of lading system which still incorporates fax machines.

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#6424

  1. Blockchain uses its ability to be a Public Ledger to obtain digital Provenance. You are able to track each transaction in real time. This allows you to audit your transaction in real time as well. Your accounting and transactions no longer have to be two separate ideas. Because it is decentralized data can’t be changed.

  2. A normal database is centralized so the information can be altered. It also doesn’t have the same prominence because accounting data and the data recorded during the transaction are in two separate places. If you buy an apple, your receipt shows you how much you spent on the apple and that it was purchased. However, it doesn’t show the corresponding credit to your account or your current account balance. The Blockchain holds all of this information simultaneously.

  3. It allows for mare transparency between venders and buyers, as well as their corresponding customers. It creates a trust-less environment.

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#6425

Answers to the Question above:

  1. Blockchain due to it’s decentralization and it’s open transaction history, the function of blockchain has enhance the digital space in bringing good Accounting system and Transaction system.

  2. The Normal database are not based in the blockchain technology and can’t bring about a decentralized process of data.

  3. The benefit of digital provenance is with a complete trust created to enhance good Accounting and Transaction process for business.

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#6426
  1. Blockchain is an open ledger tracking every transaction and these transactions can not be removed. So we can use these transactions as a guide in knowing the authenticity of products such as food and clothing.
  2. A normal data base can be altered removing or adding transactions. Data could also be lost.
  3. Having digital provenance means that trust can be removed between business and client as everything can now be tracked on the blockchain, every step can be verified. Auditing can also be done in real time.
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