Homework on Provenance - Questions

Blockchain and Bitcoin 101
#772
  1. It acts as a public ledger that is immutable. By relying on math and protocols we remove the need for trusting a third party.

2 .Because a usual database requires trusting a central entity to maintain the ledger, and is not immutable.

  1. It saves on fees by removing the middleman, allows for trust without a third party, allows for auditing in ways unavailable before blockchain, and gives power to the user, not the gatekeepers.
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#773
  • How does blockchain enable digital provenance?
    Allows one to be able to track financial records, or ingredients in food for example.
  • Why doesn’t a normal database bring the same provenance?
    It is not trust less and therefore can be manipulated.
  • Why is digital provenance such a great benefit to many businesses?
    It is based on math and trust less vs trust. For example businesses can audit in real time and not have to rely on third parties.
#774

  1. How does blockchain enable digital provenance?
    Blockchain is decentralized and trustless. There is no central authority or government that controls or can manipulate data put on the blockch

  2. Why doesn’t a normal database bring the same provenance?
    A normal database is centralized and can be manipulated by others. Normal database requires trust that the information on it is correct and you are unable to verify.

  3. Why is digital provenance such a great benefit to many businesses?
    Digital provenance allows for real time audits. All information can be traced from its origin to point of sale and can be verified. It takes the trust out of the transaction because it can be verified.

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#775

Answers:

  1. In blockchain every transaction is encrypted, secure, permanent, and can be verified by anyone. The immutable ledger is permanent.
  2. Normal databases are centralized and require trust. Bad actors, errors, and deception can be used to obfuscate truth.
  3. Digital provenance can allow for real-time auditing and tracking of transactions, removing trust from the process. This transparency can allow businesses to focus their resources elsewhere rather than auditing and verifying information and products from suppliers, as well as providing transparency to customers.
#776

Q1. How does blockchain enable digital provenance?
A1. The blockchain is a digital trust less and immutable public ledger. Once supply chain information is added to the ledger, this enables provenance that can be tracked with all information available there for all to see and unchangeable.

Q2. Why doesn’t a normal database bring the same provenance?
A2. A regular database is centralized and is under control of an Authority or Organization. Any information that is placed onto this database is controlled by the Authority or Organization and can be distorted to show what they want you to see, as opposed to what actually is. In a scenario like this, you have to trust the Authority or Organization has been truthful with their information and that they have not changed it to suit their needs and requirements/agenda.

Q3. Why is digital provenance such a great benefit to many businesses?
A3. The use of digital provenance benefits both businesses and consumers/customers. Both businesses and consumers/customers can check the ledger, see all available information about the product, can be assured that the product they are purchasing is authentic (ie not a fake through the use of RFID) and that it has been made by to industry standards (ie no child or slave labor).

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#777

How does blockchain enable digital provenance?
All tx can be verified and traced to the origin via the blockchain.(breadcrums)

Why doesn’t a normal database bring the same provenance?
Normal database can be corrupted, all data can be lost coz its centralised
and tx can be modified or erased.

Why is digital provenance such a great benefit to many businesses?
The quality of the supply chain can be audited in real time and monitored
to ensure that no trust has to be involved saving costs.

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#778
  1. Data can only be added not deleted or altered, like a digital stone
  2. Normal databases can be altered or manipulated.
  3. Transparency. Trust is not needed because everything can be verified, traced, no third party auditing is needed.
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#779

1 - Block chain enables digital provenance by allowing everything to be trust less and transparent, because block chain is a decentralized data base you don’t have to trust anyone because it gives you the transparency upfront. With all the information not being able to be changed or manipulated while it can be seen real time

2 - normal databases don’t bring the same provenance is because unlike block chain they can be manipulated, and therefore they cannot be trusted

3- block chain can benefit businesses that want to be trusted and transparent by letting the customers have 100% transparency customers can be assured that they are buying what the company says the offer

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#780

Homework on Provenance - Questions

  1. How does blockchain enable digital provenance?

By providing an immutable record every step of the life cycle can be recorded and verified for accuracy. This can be applied to physical goods as well as digital.

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

Normal databases can be edited, records can be changed or even deleted.

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

It provides more data to analyze and greater visibility into the supply chain. Information that was previously either omitted or communicated directly from the supply can be checked and verified for every item instead of having to trust the supplier.

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#781
  1. Blockchain enables us to verify a transaction in real time.
  2. In Blockchain the transaction cannot be altered versus a regular database.
  3. This benefits businesses because there is more transparency and the issue of ha omg to trust removed because everything can be verified.
#782
  1. How does blockchain enable digital provenance?

Blockchain enables digital provenance by providing Real Time Auditing, the ability to trace financial transactions, publicly displayed information (even if some is encrypted) and a trustless network that prefers verification over trust.

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

A normal database is private, only accessible internally, does not provide real time auditing and does not verify transactions with other parties.

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

Provenance is a great benefit to businesses because it can track each step along the supply chain for materials, financial transactions regarding those materials, handling of those materials, and delivering those materials to their final destination. It is also a great benefit for internal and external auditing and providing transparency for your business. Finally all transactions can be verified by the business rather than just trusting suppliers, subcontractors, customers etc.

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#783
  1. Blockchain manages to enable digital provenance by its own nature, as it is a ledger that registers information (in the form of transactions) and keeps them safely and transparently stored. That provides with precise, clear and timely insights about any kind of product/service you may want to track.
  2. I think that the reasons why standard databases cannot provide with such results are both related to data silos, which prevent data from being properly connected across databases, as well as to a more “passive” nature of databases if compared to Blockchains’ infrastructures.
  3. Because it enables businesses to become trustless and their actions to be both verifiable and verified, meaning that digital provenance disrupts the traditional paradigm society currently relies on when it comes to transparency, in which it is actually not really feasible to obtain some types of data.
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#784

  1. Blockchain enables digital provenance through its inherent characteristics such as being decentralized, and transactions being completely traceable and transparent through a public ledger. This data system provides information which is immutable and replaces the need for trust in industries with verification.

  2. A normal database is centralized and so therefore has a central point of authority which can manipulate information. The information on a normal database is not stored publicly, so it is easy to falsify and makes it hard to trace all the transactions on it. Manufacturers have to trust their suppliers because there is no way of verifying everything they are saying.

  3. Through digital provenance, companies can now keep track of the entire supply chain process, through the public ledger which is recording all of these transactions in a transparent fashion. This creates a trustless environment where companies can have peace of mind knowing that they can track each and every stage of the distribution process.

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#785

  1. Blockchain allows provenance by keeping a traceable record of every transaction on the blockchain. Thus nothing can be faked or manipulated. It also will not allow a transaction to happen if it isn’t confirmed by the network so we know the traceable record is accurate.

  2. Normal databases are kept by each party in a supply chain individually, thus it isn’t able to be checked at a moments notice (or at all) by anyone wanting to verify the authenticity of a transaction. An even bigger problem is that this information has to be trusted as accurate because it is stored and managed by a single company. Things like user error or intentional misleading is much harder to catch on a normal database than on a blockchain.

  3. Digital provenance is a benefit because it takes out the trust aspect of a traditional database. With blockchain every transaction is verified true before it is added to the ledger, therefore products can be tracked from origin to current location and can be verified.

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#786
  1. Provenance provides a way of storing data which is immutable meaning once published the data cannot be altered or deleted. It is part of a chain that is linked and can be traced back in the chain.
  2. Normal databases are centralized and can be altered by the central authority and there lies the problem no trust.
  3. Existing businesses can now have greater benifits of providing traceablity, integrity, history, proof of origin and have an end result of customer satisfaction.
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#787

  1. By being a open ledger that can be viewed by the public. Each transaction is confirmed by nodes creating an enviroment of Trustlesness and decentralizion. Each transaction can be tracked and audited. There is no human governance with Bitcoin.

  2. Normal database is not open to the public…does not get audited as often. Human interaction and governance makes it centralized and corruptible. Therefore things can be removed,added and manipulated to benefit the party. Which means it cant always be tracked and confirmed.

  3. Company will be aware of all activities in it and a constant auditing wil cut out curruption and make a company more productive. Transactions can be audited but some of it can be encrypted,but still be auditable.

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#788

Homework on Provenance - Questions

  1. How does blockchain enable digital provenance?
    Firstly, provenance is the history of ownership and transmission of an object. In relation to the blockchain, data can only be written and not changed or deleted, Once a transaction has occurred, the this is copied to all the PC on the network and verified.

  2. Why doesn’t a normal database bring the same provenance?
    Simply, a piece of data can possibly be changed or deleted by someone or an authority. Which means this database can not be properly validated or trusted in real time.

  3. Why is digital provenance such a great benefit to many businesses?
    A blockchain can be verified, by many local copeies of the blockchain. It’s means that trust is an automatic entity as part of any transaction on the blockchain. This means it can validate history, the origins, the transaction time/date and provide real time auditing. This can not be overwritten or deleted. This is where the trust is embedded in blockchain technology.

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#789
  1. How does blockchain enable digital provenance?
  • Blockchain enables digital provenance because it is a decentralized database in which its content cannot be modified nor removed therefore no one can tamper with it. Furthermore if there’s any data that you trust you can just verify it at any time you need.

  1. Why doesn’t a normal database bring the same provenance?
    -Mainly because its lack of security, too many people could potentially alter the data therefore we have to trust that those in charge of protecting it are reliable, and that is too much risk to take when it can be avoided.

  2. Why is digital provenance such a great benefit to many businesses?
    -A business which can ensure that its costumers data will be always safe and that they need not to trust the company to be honest but instead they can verify it on their own at any times, is a trutworthy and reliable business.

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#790

  1. Blockchain enables complete transparency of transactions in a trustless and decentralized manner. Transactions are written and verified, and cannot be deleted or altered.

  2. A normal database is not necessarily public, it is centralized, and can be manipulated by the corrupt. It relies on trust.

  3. The benefit is a safe, secure, incorruptible ledger of information.

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#791

How does blockchain enable digital provenance?
Blockchain enables digital provenance by recording all transactions on a decentralised ledger. This is immutable and no one can alter or fake these transactions .

Why doesn’t a normal database bring the same provenance?
A normal data base is centralised meaning that you have to place trust in an authority to input the correct data. A normal data base also allows for the altering or corruption of data.

Why is digital provenance such a great benefit to many businesses?
Many businesses would benefit greatly from digital provenance as it would bridge the gap between the transaction layer and the accountancy layer, this would save time and money.
In manufacturing the supply chain can be accurately tracked from source materials to finished product.

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