Homework on Provenance - Questions

Blockchain and Bitcoin 101
#874
  1. By only allowing adding to the blockchain and not deleting. Also it’s public, so anyone can examine it.
  2. Normal database allows deleting
  3. Now businesses don’t have to trust, they can verify instead. They can be sure that their vendors are not going to cheat them.
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#875 
How does blockchain enable digital provenance?

Blockchain enables the auditing process to be automated and public and controllable.

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

It doesn’t simply because it can be changed.

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

Reduce friction and mainly costs.

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#876

Q1. How does blockchain enable digital provenance?

  • Through the system of blockchain we can digitally audit data in real time. All data can be accessed at the same place for a particular transaction.

Q2. Why doesn’t a normal database bring the same provenance?

  • In normal database, data can be easily edited and manipulated. However, blockchain being a decentralized system, you cannot edit data and any bogus transaction claim will be rejected by the network of computers.

Q3. Why is digital provenance such a great benefit to many businesses?

  • In businesses, even the manufacturers many a times doesn’t know the exact ingredients in the commodity they are manufacturing. Through blockchain they can check the ledger and then verify the segments in the supply chain through which the products their supplier supplied went through. They can verify instead of blindly trusting.
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#877

  1. Blockchain enables digital provenance by removing the need of trust which before the ascent of blockchain was always central to the idea of achieving consensus between parties.

  2. A normal database does not have the key feature of being immutable, meaning it can be changed. The cryptographic algorithms that are coded in the blockchain make it like you said set in stone and can only be added to and not removed.

  3. This is Pivotal as a feature to ultimately have a record that can not be changed, and only verified. A powerful medium for businesses to interact on a trust less system will create full transparency.

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#878

  1. Blockchain allows provenance because data cannot be altered or removed however it only allows data to be added.This allows all transactions to be recorded publicly, therefore achieving provenance.

  2. A normal block-chain is centralised and has one single point of failure. It can be modified/ altered.

  3. It is such a great benefit because it allows real time auditing and traceability therefore you we would not need trust. it is trustless!

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#879

  1. Digital provinence is enabled through a public ledger. all transactions can be tracked back and not removed or changed and every transaction has to be varified by a network of computers .

  2. In a normal data base everything has to go through a third centralized authority which can always get involved in the proces and manipulate it. so its based on trust and its not varified through maths etc.

  3. The benefit is great because the characteristic and the quality of a product is verified and guaranteed.

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#880
  1. Blockchain allows the auditing of transactions in a seamless and transparent way; ownership is validated digitally.
  2. Since a normal database is privately owned, the controller can change information/data.
  3. Many businesses can now verify the true origin of their products and verify any transactions between other entities.
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#881
  1. By being a write-only decentralized database available globally (for now).
  2. Normal databases usually have a centralized node or brain which governs the systems Add/remove/modify.
    Blockchain is more akin to a locust swarm millions of Nodes (brains) operating in sync or Hive mind.
  3. By being an transparent ledger, any transactions can be traced/tracked which brings to light any foul play, or better auditing through statistical analysis.
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#882

  1. You are able to trace transactions on the blockchain which is immutable. It removes the opaqeness.

  2. You have 2 sep accounts: Accounting and Transactions and it is not decentralized. So there is opaqueness and also mistakes can be made this way.

  3. It can be used for tracking and tracing and it can be used for the company’s benefit and the customers. I.E. Vechain project traces Walmart China products. The company has complete transparency of the whole supply chain. Customer is able to see where the product originated and how it progressed through the supply chain. Transparency!

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#883

Homework on Provenance - Questions

  1. How does blockchain enable digital provenance? Blockchain enables digital provenance by it being a data structured database that only let individuals add to the blockchain and not remove data. Transactions added on the blockchain are verified by a network of computers that deem that the transactions are accurate, and from there it cannot be deleted or duplicated. Another important fact to how digital provenance can be achieved is that by the blockchain being a public and open ledger that allows all transactions to be traceable.

  2. Why doesn’t a normal database bring the same provenance? Normal databases are not decentralized and are mainly controlled by organizations or governments. These databases are subject to data being removed, rendered, or hacked.

  3. Why is digital provenance such a great benefit to many businesses? Digital provenance is a great benefit to businesses because it allows trust to be eliminated and everything to be verifiable. Real-time audits can also be a benefit of businesses utilizing digital provenance because everything can be traced and audited the moment a transactions is verified.

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#884

  1. The blockchain is trustless. We can rely on alot of computers / nodes to verify our transactions. With every transaction it is possible to see the details of this transaction. Normally this in impossible to see on your bankaccount. This enables digital provenance.

  2. It can be manipulated. A database is not decentralized in any way.

  3. It can be done real time. It is easier as the data cannot be manipulated or erased. I think it is cheaper because this method is easier and less time consuming.

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#885

  1. It enables provenance because data can not be altered or removed but you can add to it.

  2. In normal data base you can delete and edit data.

  3. It is capable of tracking and verifying, and alleviates headaches with businesses making auditing easier.

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#886

How does blockchain enable digital provenance?

The blockchain provides a trust less, decentralized way to track the history of each transaction. The information cannot be changed or deleted.

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

It is centralized, can be compromised and has little transparency. It is based on trust.

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

Real time audits on the blockchain allow complete transparency and reliable data for all parties involved.

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#887

  1. The blockchain is trustless and uses a computer network system that does math and scientific methods to verify transactions and information. It’s also public information, like a public ledger. Full transparency to enable a “don’t trust, vefiy” type approach.

  2. Normal databases aren’t usually accessible to all parties. They can also be edited / deleted and changed to fit particular needs. It’s centralized. Therefore needing immense trust.

  3. Fast verifiable information for all parties. It’s a win-win-win.

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#888

  1. Blockchain enables digital provenance by being decentralized and therefore trustless. No single actor or a central authority can change the data in blockchain or control it.

  2. Normal database can be changed anytime, while past blockchain records can’t.

  3. Think limited possibilities of fraudulent financial transactions, easiness of audit, cost and time-efficent solutions.

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#889

1: Data in blockhain is immutable whereas the data stored is 100% secure adn decentalized
2: Normal databases is hosted by third party (ifo not yourselves) and can always be changed in the code of the database.
3: Control of supply chain from origin to “enduser”. It can be manufactured goods, contractual agrements etc. There are no limits for its use.

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#890

  1. How does blockchain enable digital provenance?

    Provenance means tracibility. An example is the record of ownership that might accompany a famous artwork to keep track of who bought it from who and when. It would be easier to trust that the artwork is legitimate if its provenance had a long history of ownership by high profile art collectors and galleries than if it had only one previous owner who recently acquired it by unknown means.
    Blockchain allows this to be done digitally and automatically by having a network of verifying agents reaching consensus over transactions (changes of ownership) in real time. This record can then be viewed by anyone with a block explorer.

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

    A regular database can be backed up easily and provide quick editing however it wouldn’t be as effective as a blockchain provenance system. Firstly it would have a single point of failiure at the locus of the database administrator who could be coerced, corrupted or hacked. Any party that seizes control would be able to edit transactions and balances and thereby destroy the integrity of the ledger.
    Secondly it may be very impractical to keep track of every item that passes through the supply chain from one central data structure. Blockchain allows this huge task to be taken on by a network of incentivised cooperating machines.

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

    Digital provenance has the potential to bring widescale transparency to the supply chain. For example an investor purchasing physical gold bars has to trust that the mint that produced it didn’t hide cheaper metals of the same density inside the ingots. Digital records pertaining to the gold bar could show that the mint paid full price for the correct quantity of metal from a refinery. Further down the chain the mint could verify that the refinery didn’t mix cheap dilutants into the product instead of trusting them implicitly. The refinery may wish to verify that the mine that produced the ore didn’t employ child labour to extract it. All of this can be traced and audited with digital provenance to provide great benefits to all businesses that outsource production of any component or ingredient.

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#891
  1. How does blockchain enable digital provenance?
    By making data immutable and verifiable.
  2. Why doesn’t a normal database bring the same provenance?
    because the data is centralized and subject to manipulation
  3. Why is digital provenance such a great benefit to many businesses?
    Because digital provenance is trustless and verifiable, it eliminates the need of costly services thereby saving companies time and money. It also increases efficiency that can also be a huge benefit to businesses, again saving them time and money.
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#892

  1. all the info about each individual transactions is located within the block code, and once its verified through the system, it is set in stone.

  2. too much information, too many departments to go through,and lets face it, humans make mistakes, and cant totally be trusted.

  3. ok, not the best example, but instant coffee doest have to cook , go through a machine, go through a filter, then into a pot, then into your cup. you just add hot water. In this way, a business would actually make more money by eliminating unnecessary departments and overhead, not to mention streamlining the time frame of conducting their business. For the record instant coffee is terrible.

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#893
  1. How does blockchain enable digital provenance?
    It creates a decentralized set of databases for recording transactions. There is no centralized government or group that can modify the data without all the other databases agreeing to the changes. Allowing for verification instead of trust.

Having this decentralized ledger also allows for much easier auditing.

  1. Why doesn’t a normal database bring the same provenance?
    Normal databases are typically centralized, and the data can be manipulated. An example - while working in medical software support, doctors needed to meet certain metrics using the software to obtain money from the government. The doctors had their staff perform the tasks, and did not meet the reporting requirements. To support them, we were told to manipulate the SQL database to make it looked like they were performing the tasks.

  2. Why is digital provenance such a great benefit to many businesses?
    Digital provenance provides transparency through verification rather than trust. It provides traceability and efficiency that can be used in many different areas such as auditing, record keeping, etc.

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