Homework on Provenance - Questions

Blockchain and Bitcoin 101
#6528

[quote=“ivan, post:1, topic:8423”]

  • How does blockchain enable digital provenance? block chain is like a public ledger so all transactions can be traced and also tracked in real time with your own eyes.
  • Why doesn’t a normal database bring the same provenance? because a normal database is based on trust and this provenance its about trustleness also it can be hacked , audited meaning there is no opaque
  • Why is digital provenance such a great benefit to many businesses? because we will finally be able to see what we are getting if its either in ingredients or where manafacturers make there cloths like are they made in child labour factorys this is not based on trust but its verified and we can see it with our own eyes.
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#6529

  1. Because blockchain technology uses public ledgers to form a decentralised network, you don’t have to trust anyone giving you the information about a transaction. Everyone can actually see for themselves and verify if what is said is true.

  2. A normal database requires a person to enter the data into the data base and also needs people to maintain it to keep the database up to date. So you’d have to trust that what is entered is true. Information in a normal database is also easier changed or rewritten.

  3. It removes trust out of the process and it saves more time. Verifying transactions and other things information can be much quicker now and does not rely on the speed of people working. By removing trust it also makes the entire process more secure and that way businesses can also deliver much more value to customers and business partners.

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#6530

Provenance:

  1. It gives a digital ledger of transactions that can be verified.

  2. A normal database is corruptible, slow, expensive to maintain and is centralized.

  3. It allows for trustless transactions that are verifiable.

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#6531
  1. How does blockchain enable digital provenance?

Blockchain enables digital provenance through a trustless database ran on a set of computers recording every transaction that no one can remove. Recorded on a Public Ledger for everyone to view ownership.

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

Because Blockchain is ran on a Network of computers to make it possible to verify each transaction and is public for everyone to see. Normal database you can add/remove things, also not public and very private. Where as the Blockchain data base you can only add things.

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

Because Blockchain offers the best solution in development and that is saving time. Having the Account Layer with Transaction Layer all in one place can save a lot of time. It can also provide real time auditing which is a major plus and to track all this in one place at the same time.

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#6532

  1. Blockchain is an unfuckwithable ledger. As such it creates the purest form of provenance.

  2. Pretty much the same reason outlined in my answer to question 1. A normal database is open to corruption.

  3. One word… Verification

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#6533

  1. Blockchain enables digital provenance by functioning as a public ledger.

  2. Normal databases are subject to being edited by controlling authorities.

  3. Digital provenance allows companies to be completely transparent without the need of a third party.

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#6534

  1. How does blockchain enable digital provenance? - Allows supply chain monitoring as data cannot be deleted from the blockchain as per in a regular database. Enables provinence to be verified - useful for example ingredients from a food supplier, origin is recorded.

  2. Why doesn’t a normal database bring the same provenance? - Immutability - ie a normal database can have records deleted.

  3. Why is digital provenance such a great benefit to many businesses? To be confident that they are receiving the same quality of goods they are paying for and of the quaility of the goods they are providing their clients. Trustlessness - allows them to verify the origin without needing to trust. ‘verify not trust’

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#6535
  1. Blockchain enables digital provenance because it is a open source ledger of all transactions. I can see what was sent where and when it was sent. It’s public.
  2. A normal database is not public. We can’t go into a banks database and see all of their transactions.
  3. Digital provenance is great for many businesses because you don’t have to trust that something was done or not, just verify.
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#6536
  1. How does blockchain enable digital provenance?

This offers the possibility of making traceability to each of the data transfers in real time 24 hours a day.

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

Because the data cannot be removed and can be consulted publicly

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

Because it helps them to audit the operation of the system behind the business, and what is audited can always be improved

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#6537

  1. How does blockchain enable digital provenance?
    Similar to the analogy of the Stone , you can always added to the blockchain ( database) but its is immutable so you cannot remove data or alter data.

  2. Why doesn’t a normal database bring the same provenance?
    Normal database are centralized which is the governance problem that blockchain tech is looking to solve. A centralized structure creates an issue of trust and data can be altered etc.

  3. Why is digital provenance such a great benefit to many businesses?
    The key reason is that it creates trust . As noted in the lecture " Don’t Trust, Verify" as the blockchain tech can solve for this .

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#6538
  1. The blockchain enables digital provenance because it is immutable. Each transaction is recorded on the public ledger for everyone to see.
  2. A normal database is maintained by a central authority and only a few people can directly access the logs of transactions on the db.
  3. as a business this is a great benefit because you can automate instant audit, real time audit through your complete chain of operations. It takes away the guess work and lets you report to your customers with open and trustworthy facts.
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#6539
  1. The blockchain allows you to add data/information but its impossible to remove or edit data from the database/ledger
  2. A normal database allows for deleting and editing of data/information
  3. It is very important to many businesses because they don’t have to put their trust on the suppliers, with digital provenance they can actually verify by themselves.
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#6540
  1. How does blockchain enable digital provenance?

A// blockchain enable digital provenanze because it warranty security in our transactions, trustless in what we see and do, also a history where you can track any movement done at any moment.

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

A// A normal data base doesnt bring the same provenanze only for one reason, it can be manipulated by anyone where you can add and delete information not giving always trustless to people in what type of information they found.

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

A// Digital provenanze gives great benefits to many businesses because it offer a system which first recorded every transaction, second you cant add or manipulated the information and last but not least the information can be verify at any moment

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#6541

  1. Blockchain enables digital provenance by tracking or documenting transactions, materials, or lists using digital software. Thus, making it classified as public ledger.

  2. A normal database doesn’t bring the same provenance as it is operated and supervised by a central entity where only a limited amount of people can access. As a result, a normal database is susceptible to hacks and requires the trust of those that operate it.

3)Blockchains benefits is such a benefit to many businesses because it is trustless and a safer way to monetize transactions.

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#6542

Replying to the 3 questions:

  1. How does blockchain enable digital provenance?

Thanks to its’ design. Being created as a distributed public ledger that’s decentralized, it becomes immutable and trustless. Every data transaction is recorded and cannot be alterted.

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

Due to the nature of normal databases, such as SQL and similar, they are centralized. With a consolidated authorization and control over the data on these databases, they can be altered and manipulated by different actors, so they do not possess immutability and decentralization.

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

For many reasons. They can easily track and control the original nature and process of any data transaction, in a cost effective and secure way, since the data cannot be tampered with.

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#6543

1.You can add data and not remove it. Also you can see every transaction on chain.
2.By a normal database being centralized the data can be compromised and possibly manipulated. Also you would have to trust a third party.
3. Digital provenances benefits are that accounting and transactions merge as one. Instead of trust you can verify.

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#6544

  1. Blockchain is a digital database that an individual cannot alter or change and this means it prevents fraud. Also, trust can be established on Blockchain. This is how it enables digital provenance.

  2. A normal database doesn’t bring the same provenance because its data can be easily changed by individuals.

  3. Digital provenance is a great benefit to many businesses because it provides their assets with security.

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#6545

  1. It creates a trustless platform with a network of computers, on which data can only be added and is verified in real time as well as being publicly accessible.

  2. As it has a centralized governing body which has ultimate control over its data and how it is managed or manipulated, i.e. data in the database could be added or removed at the discretion of the controlling body.

  3. It mergers the accounting component of the business with its transactions, on a real time bases. Removing certain risks and accounting related time and financial expenditure.

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#6546

1. How does blockchain enable digital provenance?
through the consensus of nodes in the blockchain; each node would have a copy of all transactions.

2. Why doesn’t a normal database bring the same provenance?
a normal database is uploaded by someone and the admin of the database server; that would be difficult to verify if the initial source of data is right.
3. Why is digital provenance such a great benefit to many businesses?
decrease the cost of any product/service that incur of accounting cost done by human experts in taxes; all the records would be written in the blockchain; removing that “cost of production” from the Income statement; and it will be realtime- there would be new software (API and algorithm to process that in matter of hours) no more non-sleeping hours of accountants every quarter to provide crunched numbers and report to CEOs. Accountants (going extinct) may only verify the date from the public ledger :slight_smile:

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#6547

  1. Blockchain enables digital provenance because of its trustless process of only verifying the facts present in the transactions instead of relying on a middleman or any the other party. This allows people to make transactions without trusting people because you only have to trust in the system that is public and anyone can track every transaction.

  2. A normal database cannot provide the same provenance because a normal database only has one network server and is controlled by someone. Blockchain is not controlled by anyone and is decentralized meaning that it has servers that all functions as the main server that crosschecks if every server has the same data therefore not allowing anyone to hack into a single server and change its data.

  3. Digital provenance is a huge benefit to many businesses because one of the biggest issues is trust. Thus, removing trust will actually help people transact with ease because they can easily see each transaction made with decentralized networks therefore fixing the issue with trust along with security.

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