Homework on Provenance - Questions

Blockchain and Bitcoin 101
#61
  1. By removing the need to trust whomever you are dealing with, because the transaction will be verified.
  2. Because there is no verification and validation by multiple, individual & seperate entities. No one person can manipilate the data.
  3. It will increase your customer base, as the customer does not need to trust the business, but only the blockchain.
#62

Ivan explained it in such a easy to understand as if a were Rosetta stone and can not be erased.

#63

No recorded transactions can be altered, changed or manipulated on provenance or the blockchain.

#64

This is a great tool to be used in finding the source of anything involved with verification of funds, products and services.

1 Like
#65

  1. Blockchain enables digital provenance by publicly allowing the tracking, tracing, and verifying of transactions all the way back to their origin.

  2. A normal database doesn’t bring the same provenance as a blockchain because a normal database does not allow the public to track, trace, or verify any transactions.

  3. Digital provenance is such a great benefit to many businesses because they can prove and promote the way they run their business; whether that be ethically sourced resources or manufacturing of goods.

#66
  1. Blockchain enables digital provenance by leaving an immutable trail of transactions that can be traced to its origins.
  2. Centralization and the ability to remove data from a normal database gives it less provenance since a single entity could edit it’s content without the consent of a network and in there of remove a trail of transactions.
  3. Digital provenance has the ability to remove and simplify much of the layers of paperwork that until now is done by auditors.
#67

Blockchain is a secure and decentralized data network and where the whole process can be tracked, without any changes.

#68

How does blockchain allow digital provenance?

R / Having records of all movements which cannot be altered gives us the option of provenance.

Why does a normal database not have the same origin?

R / In a normal database the records can be altered both from the system and through direct manipulation in the database, the blockchain does not allow these modifications or delete records.

Why is digital provenance a great benefit for many companies?

R / Because it allows both the company and the end user a transparency in their movements throughout the delivery chain, for example to see if the vegetables are 100% organic by having a record from when they are grown until they reach the warehouse.

#69

  1. Blockchain enables digital providence by always numerically building on what came before. This ensures a sort of perfect accounting and done so in a transparent manner.

  2. A normal database could run on any sort of protocol and because they are not usually transparent most people will not be able to verify truth from fiction.

  3. It allows the businesses and the customers to have faith in the claims of their products/sub contractors etc. It also opens a whole world of data analysis, payment flexibility, and the ability to adapt and grow in an ever changing environment.

#70

  1. How does blockchain enable digital provenance?
    I think it also avoids the use of fraud or financial mismanagement of audits… Right now, receipts and transactions are separate. Which means that you need an accounting department for this. (An example is starting your own business). This is provided automatically by blockchain. Which means that it can be used in many many areas of this space - example medical records.

  2. Why doesn’t a normal database bring the same provenance?
    Because a normal database can be manipulated and changed.
    Lets look at provenance as a read only database where only the blockchain protocol users and advanced strict unchangeable rules can “write” / alter the db.

  3. Why is digital provenance such a great benefit to many businesses?
    Because for the first time it encapsulates all the processes in one - this is why they say that this will way the change finance is made. last time I went to a hospital - You have to run from one dept to the other, there is no way all the history of a patient can be collected. Mistakes for example - human error. Wrong files - Wrong operations being made on patients and wrong analysis being made… This can save lives for example in the medical industry. If a ledger cannot be altered, you do not need an audit. Also benefit that it reduces cost. Reduces the time spent because it is an automatic process - INFUSED into the protocol itself.

#71

My Homework on provenance.

  1. How does blockchain enable digital provenance?

Digital Provenace is acheived because:
The (Bitcoin) block chain is a distributed and crypthogrphicaly chainded ledger. Once a “transaction” is accepted and written to the block chain, It takes “to much effort” to change the block chain, for example via a 51% attack. Therfore we may asume it is imutable and trust less.

The Bitcoin block chain is transparent, that is why it automatically can provide means of automatic provenace via an “specialized layer”.

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

A data base is centraliced, and the “data” in the database can easily be changed by “anyone” who gain access to the data base. Therefore it is not imutable and it involves the need of trust. Therfore a third party is needed to audit the “transactions” wich may not even be possible to do with 100% certainty.

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

Digital provenance based on use of an imutable block chain is possible via for example an “specialized layer”, hence it removes the need for auditting by a third party.
This will lower the expences, and give imediate trust less provenance.

One concern may be at the “gate way” where the “data” enters the block chain. Crap in = imutable crap out, if we are talking about tracking of for example “real assets” recorded on the block chain.

Sorry guys, I am allways a bit sceptic :wink:

(This is my first post on the forum, so bear with me…)

#72

  1. Blockchain only allows writing, and doesn’t allow alteration/ deletion. Because it’s copied and distributed, there is no way to forge transactions without it being obvious. Therefore blockchain is the best way to verifiably record transactions.

  2. A normal database allows for writing, alteration and deletion. It is disputable. There is no proof of work. It is not reliable as a way to verify transactions.

  3. Businesses depend on trust of their customers. When a system of transaction recording comes along which is 100% trustworthy it brings huge advantages to both (legitimate) businesses and customers.

#73

  1. Information can only be added and never erased and is available for anyone to access.

  2. A normal database is centralized with an exlusive authority over the transactions that leaves it open to manipulation. This could be from the central authority or from an outside hacker.

  3. Digital provenance takes the need for trust out of the system. All transactions can be easily and quickly traced as well as allowing for real-time auditing. Cost and time efficient.

#74

  1. Blockchain enable digital provenance because it is a decentralized database. Whatever you put in it is branded in for eternity. It is a digital Viking stone. You can not change or delete any data from the blockchain. You can track and removed trust in any transactions on the blockchain.

  2. A normal database is centralized so you are not able to track in detail the origin of the data that is store on it. You can also change and remove the data from it.

  3. Digital provenance is a great benefit to many businesses because it enable businesses to do real-time audits of their products and services. It also provides high values and efficiency to the processes.

#75

  1. Ownership and history of data objects.

  2. A normal database is mutable.

  3. Cost-Saving, Increased profit, Trust and Reliability will increase for a product or service.
    (Source: https://www.ifeanyiuche.com/benefits-of-blockchain-based-on-the-concept-of-provenance/)

#76

  1. The concept of provenance involves being able to trace the origin(s) of a product, track a product’s history, or trace the history behind transactions in order to be certain of their validity. A blockchain can store all the relevant data and associated metadata of transactions, which, once verified by the trustless and transparent nature of the blockchain’s decentralised ledger, cannot be deleted, only added to (i.e. this data is immutable). As a result of this, blockchain technology enables the origins of products to be established with certainty, their product histories to be tracked accurately, and recorded transactions to be traced, validated and correctly accounted for.

  2. A normal database is not decentralised, but is managed and controlled by a custodian. The accuracy, validity and traceability of the data provided by such a database is dependent on our trust in the custodian to manage the database in such a way that it meets our needs in terms of provenance. With blockchain, this reliance on trust in a central custodian is avoided, as a blockchain’s pre-tested mathematical protocols and in-built algorithms provide trustlessness and transparency. With a normal database, the risk of human error is also much greater.

  3. Digital provenance enables:

  • real-time auditing;
  • more efficient supply-chain tracking and management;
  • customers to authenticate the product (e.g. with luxury goods);
  • customers to verify a product’s orgin(s), or where it has been manufactured; and
  • customers to check and have confidence in a food product’s ingredients.
1 Like
#77

  1. Blockchain enables digital provenance by creating an immutable, often public, record. This allows transactions or goods to be tracked in a trustless and reliable manner. In the case, of transactions it brings together the accounting layer and the transactional layer allowing real-time auditing.

  2. A normal database is centrally controlled and can be amended or changed. This means that companies are required to trust a third-party. Often this requires the use of expensive and fallible regulated professionals such as accountants. In other cases, companies must rely on information given to them by their suppliers, who in turn must rely on their subcontractors and suppliers, leading to highly questionable accuracy.

  3. Digital provenance allows companies to provide certainty to customers about the quality and content of goods they supply. It also allows them to meet the demand by ethical consumers for proof that their goods have been manufactured by suppliers that respect labour, environmental and animal protection standards. Furthermore, with regard to transactions digital provenance allows real-time auditing and could, in time, replace accountants entirely.

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#78
  1. Every transaction is added to the blockchain or 'digital-store as you called it, and the transaction cannot be removed;
  2. Transactions in normal databases can be removed, unlike the blockchain;
  3. Trust - every transaction is added to the blockchain or 'digital-store as you called it, and the transaction cannot be removed, and the transaction can get verified at anytime.
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#79
  1. With blockchain being a public decentralized ledger that can’t be overwritten, anyone and everyone can verify transactions and no one can falsify entries
  2. Regular databases can be overwritten either by the database admin or by hackers. Databases are usually not public but, even if a database was made of public access, no one could verify with 100% certainty that the entries have not ever been altered
  3. Having an unfalsifiable decentralized database is a huge asset. It allows to create unfalsifiable payments that can never be “lost” in a system or by someone or some entity, to create unfalsifiable records of data such as chain of custody of something, or food supply chain from producer to consumer at every step of the process, and so on.
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#80

  1. Blockchain enables digital provenance because once a block is confirmed and added to the blockchain, it becomes immutable. We can go back and track every transaction and its details.

  2. A normal database doesn’t bring the same provenance because we have to trust that the information we are given is accurate. We are not allowed to verify.

  3. Digital provenance is a great benefit to many businesses because transactions are transparent and recorded accurately. This could lead to many benefits, like saving money in the budget and ensuring the quality of goods and services that businesses need.

3 Likes