Homework on Provenance - Questions

Blockchain and Bitcoin 101
#6448
  1. By keeping the history of the transactions in a block, and shared in the network
  2. Because a normal database is not decentralised
  3. Because you can verify the data instead of relying on trust
1 Like
#6449
  1. the blockchain enables digital providence by being able to track through supply chains ect.
  2. because a normal data base shows the currency moving not the information attached to it.
  3. it enable the business to operate trustless.
1 Like
#6450
  1. How does blockchain enable digital provenance?
    Blockchain is a public ledger, everyone has access to the information, transactions, there’s no central party. Transactions cannot be removed.
  2. Why doesn’t a normal database bring the same provenance?
    Data in normal database can be deleted, removed, changed, manipulated, or if database is lost, it is impossible to restore normal database.
  3. Why is digital provenance such a great benefit to many businesses?
    There’s no third party as audit. Don’t trust - Verify.
1 Like
#6451

Homework on Provenance - Questions

  1. How does blockchain enable digital provenance?

Allows you to track and audit each transaction in real-time.

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

There isn’t one place where everything can be seen. It is very inefficient.

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

It allows things to be more efficient.

1 Like
#6452

Homework: Provenance

  1. How does blockchain enable digital provenance?
  • In a blockchain technology, we are able to trace every single transactions that occurs, enabling us to always have a complete history of all transactions made by everyone. This is how the blockchain enables provenance because with the complete history of all transactions as well as the real time tracing of all new transactions, we are easily able to confirm and verify the authenticity of every single transaction that takes place on the chain.
  1. Why doesn’t a normal database bring the same provenance?
  • When we talk about a blockchain database, we are only allowed to add new transactions into the database. Transactions are immutable i.e. we cannot adjust them. If somehow someone does manage to do so, that node processing the specific transaction will be invalidated and the rest of the nodes running the blockchain will ignore this transaction. With normal databases, transactions are mutable i.e. we can remove or adjust them in the database. Since normal databases are not decentralized, these adjusted records will not be flagged as invalidated since there are no other live nodes or databases running with the complete set of all transactions preceding the latest adjustment. Therefore, since we are placing TRUST in the centralized organization to manage the data and ensure its authenticity, we cannot bring the same level of provenance as a decentralized database like a blockchain.
  1. Why is digital provenance such a great benefit to many businesses?
  • Digital provenance is crucial to many businesses since it allows them to have a complete, authentic, and verified history of all of their transactions. This could reduce the burden of having to manually do business audits since the data is always available. Certain business niches like food companies that wish to be more transparent and keep their customers informed about where ingredients are coming from could stand to benefit by placing all of their transactions on the chain where it can be viewed by everyone e.g. An organization that claims to be strictly 100% vegan can leverage this to remove TRUST from the equation and let the blockchain verify that they are indeed using 100% vegan products.
2 Likes
#6453

  1. How does blockchain enable digital provenance?
    It’s like a Viking Stone!

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

  3. Why is digital provenance such a great benefit to many businesses?
    Effective and secure auditing.

1 Like
#6454
  1. How does blockchain enable digital provenance?

The blockchain keeps permanent records and is decentralized. The information is immutable.

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

The company can change the data, delete past records and there is little or no transparency which makes it hard for the consumers to trust.

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

It encourages verifiable trust by allowing direct access to full ledger or data starting from the origin to shelf. It also reduces traceability time

1 Like
#6455
  1. How does blockchain enable digital provenance?

The blockchain is like a digital stone. You can add data to it, but you can’t remove old data. It is an immutable record, which is open to anyone.

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

The involved parties can change data, and delete old data in their own favor. Besides that, there is no transperency to the public, which makes the database harder to trust.

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

It is time/cost efficiënt and it is has secure real time auditing, which is not build on trust, but it is verifiable.

1 Like
#6456

Hi everyone,

I am Selim, I am happily joining the course/forum for the first time.

Here are my answers:

  1. The blockchain allows to keep a distributed, open and immutable record of data. Once in the blockchain, the data cannot be edited or removed. Data can only be added to the blockchain, to do so it has to be verified. So can we refer to the blockchain to access data related to the provenance and have insurance that this data is accurate, auditable in real time and traceable.
  2. Data in a normal database would not necessarily be public, also it would not be decentralised, as it could be controlled by for example a company or an institution, which could edit/remove it. So if we refer to a normal database to look at data related to the provenance, we can not have total insurance it is accurate.
  3. That can apply to various products, food, jewels or clothes being example among many others. Companies can give transparent, and proved to be accurate, information about the provenance of their products to their customers. That is something businesses can emphasize as added value to their customers.

I hope it makes sense.
Regards
Selim

1 Like
#6457

  1. How does blockchain enable digital provenance?
    all transactions are shown in a digital ledger, and verified by a network of computers

  2. Why doesn’t a normal database bring the same provenance?
    any other database is run by a company (or some sort of central agency) which is susceptible to hacking or corruption. Blockchain is just a “digital stone” where people can add to it and others can verify. It’s not run by any one person or company

  3. Why is digital provenance such a great benefit to many businesses?
    real time auditing - rather than paying some company millions of dollars to review all of your receipts and confirm your inputs/outputs, the auditing is done at the time of the transaction because the network of computers can see the entire history of transactions to/from the sender & receiver

1 Like
#6458

HAHA, answering with a meme and yet you got the answer right :laughing:

#6459

  1. Blockchain enables digital provenance because when transactions are made the network verifies the transactions in real time rather than just trusting the person.

  2. A normal database doesn’t bring the same level of provenance because the accounting layer and transaction layer are separated and an audit is complete by two separate entities rather than it happening in real time.

  3. Digital Provenance is great to many businesses because it can verify everything such as ingredients in food to what was used to create clothes. It helps businesses not have to rely on trust but to know things for a fact

1 Like
#6460
  1. Through a trustless public ledger that verifies every transaction via a network of computers
  2. Because a normal database is centralized and is more susceptible to manipulation, fraud.
  3. Because of improved traceability of transactions which adds more benefits to businesses
1 Like
#6461

1: blockchain enables digital provenance due to the technology behind blockchain, blockchain is a public ledger in which it can be traced and it accessible.

2: A normal database is different from the blockchain database and it has the ability to track and audit transactions in real time and it is decentralised, not owned by anyone.

3: one of the great benefit for businesses is trustless, easy verification for goods and services, for goods getting information about the farmer to the end user, knowing the origin of goods or services.

1 Like
#6462

You mean “wrong”? :smile:

#6463

All data to the blockchain is immutable. The transaction history of any asset can be traced back to the block that mined it.
Standard databases allow for CRUD operations which means that someone can change the data without there being a traceable fingerprint.
Provenance allows businesses to know that the money they are receiving is legit and not coming through a potentially malicious source.

1 Like
#6464

Homework on Provenance - Questions

  1. How does blockchain enable digital provenance?
    The blockchain is the immutable storage. We can see all the historical changes from starting point.
  2. Why doesn’t a normal database bring the same provenance?
    Because a normal database usually has possibility to update and delete entries. Also it usually hasn’t possibility to validate incoming transactions in term of values (except of data consistency based on structure and data)
  3. Why is digital provenance such a great benefit to many businesses?
    It can help to eliminate trust.
1 Like
#6465

  • How does blockchain enable digital provenance?
    By recording and displaying publicly a read-only trail of transactions that prove a person/business/governments claim of services rendered/products delivered.

  • Why doesn’t a normal database bring the same provenance?
    Because records in a normal database can edited after the fact and are not secure, nor are they likely to be compared/confirmed by a global network of identical records.

  • Why is digital provenance such a great benefit to many businesses?
    Because it will greatly simplify the auditing process, as well display their good reputation publicly.

1 Like
#6466

A. Provenance is brought in by functionality that is natively supported by the blockchain

  1. Its is a public ledger, available to all, so the information can be easily traced/tracked by more than one person or entity
  2. It inherently inhibits/suppresses mutation of the ledger, which establishes trust in the information available. No manipulation is possible of what has already gone in the blockchain
  3. Information is available in realtime and it can be audited by many, no one person or institution

B. Current Database can’t provide such digital provenance

  1. it is centralized, controlled by one institution, so we only trust one
  2. Transactions are mutable and can be changed
  3. it’s not public but private

C. Benefits

  1. This concept can span any segment or line of business
  2. Ease the Audit process which is complicated now and requires specialized workforce/institutions to do audit
  3. Sources for each and every transaction/elements can be tracked and traced back easily.
1 Like
#6467
  1. How does blockchain enable digital provenance?

By making it decentraliced and public for everyone

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

It is not decentraliced and one entity can change and cheat everything

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

Because they don’t need to trust they can verify the data, accounting, etc by them self

1 Like