Homework on Provenance - Questions

Blockchain and Bitcoin 101
#691

  1. Blockchain enables provenance due to its immutable, decentralized and trustless nature. Immutable because a record written to a blockchain cannot be modified nor deleted. Decentralized because the power is dispersed across the network and there is no central authority that controls the whole system. Trustless because the system is governed entirely by computer code and the participants involved in a transaction do not need to know or trust each other nor a third party for the system to work.

  2. A normal database is centralized, meaning the data is controlled by a single individual, group or company. It is therefore one single point of failure. The data itself is mutable and once written to the database it can be modified or deleted by whoever controls the database. It also requires trust in the entity that manages the database. Users trust that the data is used for the right purpose and won’t be tampered with.

  3. All transactions in the blockchain are open, traceable, auditable and unchangeable, leading to a vey transparent system. All products, materials and financial transactions have a digital history that is known by the entire network and cannot be tampered with. This allows anyone to trace and verify its origins and attributes without the need for third party audits. Being a source of trustworthy information, the blockchain allows businesses to make themselves and their products more transparent and reliable.

#692

1. How does blockchain enable digital provenance? By making is Ledger Open to the public, everyone can see the transaction and/or the Data belong with the transaction in the Database. You don’t have to trust anyone or anything, you can VERIFY by yourself on the Blockchain.
2. Why doesn’t a normal database bring the same provenance? Because you can ADD but ALSO Remove information, anyone or anything can modify the Database, In that case you need to put your trust on a individual or a company
3. Why is digital provenance such a great benefit to many businesses? Auditing can happen in a fraction of time, where costumer can verify the tracability and provenance of the goods or services. ALL transaction or Data are open to public via the Public ledger

#693
  1. Blockchain provides a means to have a source of truth and to verify information about a product throughout its life cycle without having to rely on trusting information from a source.
  2. Data in a normal database can be duplicated and changed. Blockchain ledgers cannot be duplicated or changed.
  3. Digital provenance ensures that the information is accurate, which is important for some transactions, such as selling aircraft.
#694

1.) The decentralized nature of blockchain enables provenance because and items provenance is established by transparent verification.

2.) The centralized nature of a regular database means that whomever governs it can alter the provenance time stamp. It can technically establish provenance but it also technically cannot be trusted.

3.) It relieves businesses of managing their own databases. Since they could not “cook their books” the auditable record acts as an accurate depiction of transactions.

#695
  1. It provides a digital ledger that cannot be changed as it is append only.
  2. Normal databases can be updated (changed).
  3. It provides a verifiable way to track supply chains.
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#696

  1. It provides real time auditing. Puts together accounting layer and transaction layer in one single transaction/block.

  2. They rely on trust, opaqueness , and also maybe hide origins of material and process of ingredients.

  3. Information about accounting is present in blockchain. Ingredients can be traced to ensure supplement facts and verify product ingredients. Provenance tracks the process of business, transaction,and information. It traces the origins.

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#697

1.Blockchain allows for digital provenance by being able to log all transactions of a digital (tokenized) asset onto an immutable ledger.
2. A normal database could bring the same provenance, however, keeping track of one asset across several different company servers is far too inefficient and costly.
3. Digital provenance will be such a great benefit when it comes down to administration. First, one would not need to staff as many people when every transaction going through a business can all be found in one place. Second, a company can put their money where their mouth is, meaning if the company says it is 100% Organic, the supply-chain will be able to prove it. Third, a lot less can be spent overall on the middlemen that skim wealth out of every transaction.

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#698

  1. Because the blockchain is decentralized network with each computer node having a copy of all ledgers, any transaction is verified by all nodes and the validity of a transaction is confirmed.

  2. A traditional database is not able to be audited in real time and may not be concurrently verified by other copies at the time of a ledger entry, you mention the fact that the transaction and accounting steps can take place at the same time, and that this eliminates the need for any accounting or financial auditing.

3.It is a benefit insofar as it can be used to track and verify each step in a transaction, whether it be financial or in a method of manufacturing a good such as a food product.

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#699

  • How does blockchain enable digital provenance?
    Blockchain allows digital provenance by keeping an open ledger of data. This is verified by the whole network.

  • Why doesn’t a normal database bring the same provenance?
    current ledgers can easily be copied, edited, erased and misrepresented by the user. A blockchain ledger does not allow data to be changed in anyway without alerting the entire network.

  • Why is digital provenance such a great benefit to many businesses?
    The ability to have a trusting relationship will allow for the use of the network to verify ledger entrees allowing accurate accountability in real time.

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#700

1,How does blockchain enable digital provenance?
A, The Blockchain holds the unchangeable transactions(immutable) on the public ledger

2,Why doesn’t a normal database bring the same provenance?
A, A normal database ledger can be changed/altered easily,the ledger resides in one location and can be tampered with.
3, Why is digital provenance such a great benefit to many businesses?
A, It is safer, transparent and very efficient saving time and $

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#701
  1. Blockchain is a decentralized database, a digital stone, where information can only be added, but not removed.
  2. In a normal database information can be added and removed as well.
  3. It removes the factor trust on the supply chain of products as any information will be added to the blockchain instead.
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#702

  1. Blockchain provides a secure public ledger in which transactions cannot be tampered with. changed, or erased. The public aspect of the ledger allows anyone to track and verify any transaction.

  2. Normal databases are controlled by a central authority or organization. Therefore, the data within the database cannot always be trusted as it can be changed or corrupted.

  3. It provides transparency and reduces the need for trust. Claims being made by a provider of a service or product can now be verified quickly and efficiently.

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#703

  1. By creating a global database called blockchain storing information related materials and products that remain unchangeable.

  2. Because they are centralized

  3. Simplifying the process to do business worldwide

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#704

  1. By providing a database of all past transactions that cannot be altered. A record of transactions can only be added to the blockchain. Once added, they can not be changed or removed.

  2. A normal database does not have the same level of trust as a blockchain, because it can be altered.

  3. It increases efficiency and eliminates the need for trust when transacting.

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#705

  1. How does blockchain enable digital provenance?
    Making use of it’s immutability properties.

  2. Why doesn’t a normal database bring the same provenance?
    Because it’s data can be modified and/or removed.

  3. Why is digital provenance such a great benefit to many businesses?
    Because it can remove a lot of the bureaucratic burden that nowadays have with, for example, accounting. It can also be very helpful in areas like product traceability.

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#706
  1. Once the information is on the blockchain it can not be changed. This provides a way to store information without having to trust anyone.
  2. Because it can be changed and or controlled by a single entity. The database can also be hacked or attacked at a single point.
  3. Anyone can rely that the information on the blockchain is accurate and has been verified. The need to trust the entity that provided the information is not necessary as this information has already been verified.
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#707

  1. The blockchain is immutable. There are many computers which verify each transaction and they can never be changed. Decentralization.

  2. A normal database can be changed and manipulated.

  3. Because they dont have to trust suppliers. Now the blockchain verifies everthing.
    DONT TRUST - VERIFY

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#708

  1. Blockchain is a global digital ledger, a database of sorts, of connecting nodes (computers) that communicate with each other and each contain the entire records of the blockchain. It can only be added to and not deleted from. Every node has a record of each transaction ever created, and every transaction is verified ie you can only ‘spend’ what you have based on the rules ,so you cannot double spend. This allows a real-time monitoring of all the transactions on it ie auditing of the system. It is run by the execution of mathematical rules, is (usually) decentralised, and importantly is trustless ie it has no third party authority to rely on.

  2. A normal database can have data removed and edited, and is usually kept on one computer, and involves interaction with it by third or more parties.

  3. Digital provenance is invaluable to engineered systems for supply chain purposes. It’s trustless. A business can track real-time all aspects of content of product supply into their manufacturing and distribution processes, such as ingredients, quality and origin of such ingredients, where they are along the supply/distribution path etc. As this is trustless, it is far more efficient than existing systems. I suspect too that in the future when EVERYTHING (including humans) will be on a blockchain somewhere, this will be set up for a fully automated existence controlled by advanced AI ! At that point there may not be much need for humans…

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#709

buy being a public decentralized ledger
normal databases are centralized
transparency and trustlessness

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#710
  1. Blockchain enables digital provenance through tracking and verification of every step of a process
  2. A normal database does not bring the same provenance because because it fails to record every change step taken in the process
  3. Digital provenance is such a great benefit to businesses because it brings efficiency, real time verification of position in a process as well as replaces trust with verification
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