Homework on Provenance - Questions

Blockchain and Bitcoin 101
#6688

data can be added and never removed
because the data can be changed and corrupted
able to trust source

#6689

1 - blockchain enables digital provenance by allowing accounting and transaction to appear simultaneously, and able to be audited instantly

2 - a normal database, data can be removed without trace not on a blockchain database

3 - provenance increase trust into a business, transparency for customers and auditors

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#6690
  1. How does blockchain enable digital provenance?
    The blockchain only allows you to add to the ledger, not remove from the ledger. Therefore, you can always see how and where things originated.
  2. Why doesn’t a normal database bring the same provenance?
    Because a normal database can remove things from it.
  3. Why is digital provenance such a great benefit to many businesses?
    You no longer need auditors to come back later and verify. It is all done at once and is available at your fingertips with blockchain.
#6691
  1. By keeping an audit trail of all the transactions
  2. Normal Database is centralized and relies on inputs from its sources.
  3. Digital provinance enables decentralization and businesses can audit and track all transactions to check on their operations and financials accurately…
#6692
  1. How does blockchain enable digital provenance?

-> By making an immutable print on a permanent ledger subsequently making each transaction verifiable via a network of computers that can’t be tampered with by third parties.

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

-> Databases as per RDBMS can per centralised and thus create an opacity due to access and third party tampering. Also since there are many stake holders in a transaction chain of stored information this can subsequently lead to irregularities in the supply chain. Real time verification by all stakeholders at once can’t be insured.

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

-> It encourages verifiability of independent actors in a supply chain in real time which can be stored and traced by all participants whether it’s private o public.

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#6693

  1. The Bitcoin blockchain enables digital provenance because it is a distributed public ledger that stores immutable transactions. That means that a transaction processed cannot be changed and can be viewed by anyone.

  2. A normal database does not bring the same provenance because normal databases are not publicly accessible, the data on them are not immutable, and they are generally not publicly accessible. Still based on trust.

  3. Digital provenance is such a great benefit for businesses because it increases transparency and accountability; removes the dependence on trust; closes the gap between the transactional layer and the accounting layer; and cuts out more middlemen making business cheaper.

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#6694
  • How does blockchain enable digital provenance?
    by keeping track of the transaction history and the movement of a certain asset
  • Why doesn’t a normal database bring the same provenance?
    in a normal database data can be updated and deleted
  • Why is digital provenance such a great benefit to many businesses?
    people would trust companies that uses blockchain
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#6695
  1. Each time it is updated, it is publically verified. It also can’t be changed retrospectively. This means that all changes can be traced.
  2. Normal databases aren’t verified with every update. They can also be changed without the permission or knowledge of other people.
  3. Digital provenance means that the workload that auditors undertake can be reduced or eliminated. Since the updates are independently verified, businesses can be confident their records are accurate.
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#6696

  1. Provenance is achieved through consensus.

  2. A normal database is centralized therefore corruptible.

  3. Businesses can use transparent accounting of many integrated systems to verify many things.

#6697
  1. Blockchain is a public ledger
  2. Because a normal database is centralized and corruptible
  3. Able to trace financial transactions in real time(and remove trust) and enable on-line auditing.
#6698

How does blockchain enable digital provenance?

  • Blockchain provides digital Provence by providing a ledger where information and be “put in” but not taken out. Once a transaction is confirmed on the block it is there forever and it can not be tampered with. If someone where to try and change or do a transaction that doesn’t add up, for example send 2 btc when they only have one, the transaction will not be confirmed and it will not be put on the blockchain. This creates an immutable data base that we can all see and verify on the blockchain which enables us to audit and verify all transactions.
  1. Why doesn’t a normal database bring the same provenance?
  • Because a normal data base doesn’t have a publicly transparent database that is immutable and trustless. What we see today relies most on trusting that the person providing the original information is correct and its difficult to actually prove the information is correct. The blockchain takes this concept and makes it trustless because the information itself has to be accurate in order for it to be accepted onto the blockchain.
  1. Why is digital provenance such a great benefit to many businesses?
  • It allows a business to see and audit information for themselves in a transparent way that doesn’t require trusting a middle man hoping they didn’t make a mistake. there is no trust, question, confusion for a business as they can see the data for themselves and confirm the information is true and accurate without the reliance on any person or entity.
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#6699

  1. Blockchain ensures the legitimacy of provenance (origin) because it is immutable and transparent. However, the previous statement is only true provided that the initial values that were entered into the blockchain was done accurately and as long as one is able to trust the body/organization that creates and governs the whole system.

  2. Normal databases and the information they contain are created and inputted by humans. Therefore, we are forced to trust the creators and authors of these systems. As such, they are also mutable and subject to tampering.

  3. Digital provenance is beneficial to businesses who desire to know the origin, quality, etc. of the materials they purchase to make their products. Digital provenance might also help to prevent loss/theft.

#6700

Question 1: Digital Provenance is achieved through the use of a digital ledger that is effectively “write only” and has disabled the efficient means to edit the record at the individual level. Instead, the edit function has been replaced by a network dedicated to confirming transactions and rejecting bogus transactions. All transactions are easily audited by the network as either valid or invalid through a consensus of terminals that crosscheck and confirm any/all transactions submitted for approval.

Question 2: A normal database could be modified by a limited number of “trusted” team members, due largely to their level of access and permissions to modify, delete or add any data on a whim. Initially, no one would question the veracity of the data as the only people who have access to the edit function on a normal database are likely “trusted” and limited in number - subsequent audits (like EoY) could reveal inconsistencies however, the associated damages to the enterprise would have already been exacted. Unlike a normal database, blockchain entries are subjected to the scrutiny of a vast network of efficient terminals/nodes that are rewarded for confirming valid data and rejecting data of low confidence.

Question 3: It streamlines the audit process and provides a verifiable transaction history.

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#6701

  1. How does blockchain enable digital provenance? Blockchain is a special type of database that enables provenance of a transaction because the ledger is open source and data can only be added to the database and not deleted contributing to it’s immutable properties. The accounting layer and the transactional layer are combined.

  2. Why doesn’t a normal database bring the same provenance? A normal database, like the ones we are used to, doesn’t provide for provenance because they are centrally controlled and data is capable of being deleted.

  3. Why is digital provenance such a great benefit to many businesses? Digital provenance is a great benefit to businesses because it provides for a simplistic way to track products, suppliers transactions etc. from their origins to the endpoint.

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#6702

  1. How does blockchain enable digital provenance?
    ans : Digital provenance meanse verification of history, origin and authenticity of digital data. This digital data can be a transaction or some digital assets. The key principles behind Blockchain is “Immutability of transaction”, “distribiuted database or decentralised database” and “transparency of transaction”. These three principles help in verification of all historical transactions as no transaction is ever deleted or removed from the blockchain. Since it is decentralised, this meanse no single entity or individual has control over the transactional records, so it makes it difficult to alter any previously added data.

  2. Why doesn’t a normal database bring the same provenance?
    ans : Normal database are centralized which meanse someone or some company has control over the database. This makes sence since a company does not want its confidential data to be shared over internet. It would never want to expose its client data due to which it has to take control of the database. If we talk of immutability, a company might wants to alter its data down the line or alter its cliet’s data with update of their services. So, conventional databases allow read as well write permission.

  3. Why is digital provenance such a great benefit to many businesses?
    Ans : For any business to excel, grow and generate profit, customer’s satisfaction is utmost priority. What could be a better solution for customer’s profit than transparency of what a company does along wioth utmost security of the transaction. Security of the user’s transaction and transparency brings a huge margin of customoer’s trust in the product. This is the reason why companies are more oriented towards using Blockchain for their products.

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#6703
  1. Blockchain enables digital provenance because it offers full transparency and all transactions are verified, not relying on other people/systems.
  2. Data can only be added to the blockchain. Nothing can be removed. In a normal database, this does not occur and it is not validated at the time of transaction, leaving room for error and manipulation.
  3. It creates massive efficiencies through real time auditing and verification as well as allowing customers to have confidence in the information they are being given.
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#6704
  1. How does blockchain enable digital provenance?
    Blockchain enables digital provenance through multiple Factors.
  • Immutability of Transaction: This means that the transactions or data stored in the blockchain are impossible for anyone to manipulate, modify, or falsify
  • Decentralization: This means that the Information isn’t stored in a single Area.
  • Transparency: Meaning once a transaction is recorded on the blockchain, it cannot be altered or deleted.

  1. Why doesn’t a normal database bring the same provenance?
    Traditional systems can alter or delete records, making it challenging to trace the origin of a transaction or identify any fraudulent activity.

  2. Why is digital provenance such a great benefit to many businesses?
    Customer Satisfaction: Customers can, through the use of Blockchain technology throughout the supply chain, trustlessly verfy that the origens of a product are as described.
    Raise Efficiency within a company: For example through the use of real time auditing of products within a company.

#6705

Homework on Provenance - Questions

  1. How does blockchain enable digital provenance?
    Blockchain offers access to a public, transparent and immutable database of custody.

  2. Why doesn’t a normal database bring the same provenance?
    A standard database is centralized, can be kept private, and can be modified by the centralized authority.

  3. Why is digital provenance such a great benefit to many businesses?
    The need for trusted third parties is eliminated by allowing something tangible or intangible, certainty regarding its own specific data.

#6706

How does blockchain enable digital provenance?
Due to the characteristics of a “public ledger” no business, or central authority or government has control of the data. This technology allows to track/trace all transaction back to its origin, because data (transactions) can not be removed or changed ( immutability) if written in a blog.

Why doesn’t a normal database bring the same provenance?
Because data sovereignty lies with a single entity. Therefore it can be changed without any knowledge of its customers. Therefore a big problem regarding trust. Still I am not sure if people care due to the focus on price before quality/honesty :wink:

Why is digital provenance such a great benefit to many businesses?
Because it provides transparency for the public and therefore builds trust. Data can be accessed real-time, it is save and data from multiple sources are shown . Therefore much more trustworthy. Still “fals” data can be entered from all participants, but it is way harder and easier to track down if the next entity discovers some wrong doing.

#6707

1/ Every transaction is recorded irrevocably in the blockchain and so transactions associable by any particular entity(address) will leave a transparent trail.
2/ A normal database is generally functioning from a central source. It is not publicly distributed and so transparency and therefore provenance are therefore not guaranteed as they are at the behest of whoever controls it and higher vulnerability to technical failures. Privately distributed networks only offer provenance to those within it, however and if transactions are initiated by third parties outside of it, the opaque (to the third party) consensus transparent only within the network leaves room in network design for manipulation against third parties interests also by consensus of the private nodes…ie seems true provenance may only be assured by PUBLICLY distributed nodes?
3/ Businesses can offer independent verifiability of the claims they make about their products so customers need not rely on trusting what they say.