Homework on Provenance - Questions

[Luche]

Provenance Homework

1. Verifiable, immutable - can’t lie or cheat
2. Because a normal database is subject to manipulation
3. Because we will be able to verify that what is promised is true, such as no child labor in factories, no cheating about ingredients in food, etc.

[Eugene]

1. Blockchain technology allows to trace data in the real time and get confirmations of the data and transactions by each of the connected computers. The main benefit of blockchain technology is that the data can be added but cannot be altered or removed, therefore it’s secure.

2. A normal database does not provide 100% verified audit of the data in real time and its data still can be modified or removed in the future.

3. It is a great benefit because it’s 100% accurate and reliable, therefore no need to trust other, it is enough just to verify the data.

[codetoliveby]

1. by offering real time auditing so the transaction and the accounting can be taken care of at the same time.
2. A normal database does not have the immutable nature of a block chain and therefore you cannot trust the auditing/accounting.
3. By combining these functions it will give early adopters and enormous competitive advantage. Being a small business owner I know the costs of compliance auditing and accounting. It is a crushing weight for small business.
4. The ability to trust the nature of the supply chain is almost beyond measure. Having watched a video lately about farm raised seafood from Asia the importance of this becomes obvious. No one who saw these films would ever consume this food again.

[Beasley23]

[quote=“ivan, post:1, topic:8423, full:true”]
Homework on Provenance - Questions

1. How does blockchain enable digital provenance?
   —Blockchain is a public ledger, you can only add information to it. It has the ability to provide accounting info and transaction info.

2. Why doesn’t a normal database bring the same provenance?
   —A normal database is “trusted” so essentially things can be manipulated without your knowledge

3. Why is digital provenance such a great benefit to many businesses?
   —Ok so I may be wrong, but it tracks things and can tell you where its been, where it went, or the state it was in. This can help businesses by letting the consumer know the information about the product. For example, we all want know what’s in our food, so the information you are provided will be correct and is backed up by math

[Mimi]

1. Blockchain is a database where you can only add but not remove transactions. All computers are connected to this database that records every transaction.
2. They are based on trust; blockchain is a system that can’t be cheated due to the way it has been designed, it’s a public ledger.
3. It provides full visibility of the supply chain; trust is not required, real-time auditing is possible, lot’s of process steps can be eliminated that lead to reduced costs, it’s all about verification and mathematics eventually.

[Conor]

Blockchain enables digital provenance through the fact that all transactions are approved and recorded on a public ledger which can be traced since the birth of bitcoin.

Normal databases are centralised meaning all records are private, data is not as easy to trace, the transactions are not as transparent.

It’s can save lots and lots of time for accountancy as every transaction are added on to the blockchain meaning it’s easier to to trace.

[Ironjade]

@ivan

How does blockchain enable digital provenance?

Becouse it needs to be veryfied in the whole network

@ivan

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

Its mostly bild on thrust but it is not trustless

@ivan

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

Becouse it removes the doubt and posibility of scam, problems …

[KevScha]

How does blockchain enable digital provenance?
The blockchain enables digital provenance by providing immutable data on an open ledger for all to see.

Why doesn’t a normal database bring the same provenance?
A normal database is easily controlled by fewer people. Editing of and removing data is possible, which makes trust in the data questionable.

Why is digital provenance such a great benefit to many businesses?
The ability to track the raw materials used in the production of an item, rather than trust a 3rd party’s word, along with real-time tracking of financials, make the digital provenance of the blockchain both cost effective for businesses and trustless for it’s consumers.

[iamchaoticcoder]

1. Allows for tracking of transactions because of the way the blockchain cannot be changed.
   2, In regular databases SQL./Oracle, etc you can update records.
2. It can be used in proving the origination of products allowing it to be fully transparent

[lucas]

Thanks Mauro, of course I didn’t thoght about that. good point!

[Tessy]

Thanks ! I am still getting used to the discussion board…

[bpalumbo]

Provenance

1. How does blockchain enable digital provenance?

Blockchain is a public ledger composed of all the computers using the database. The public ledger is self updated, and verified each time a new transaction occurs. The decentralization and self maintenance enable user faith that no information tampering can occur.

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

Databases are centralized and run by private companies that can do as they please with the information inputs. Participants must put trust into the hands of another party to handle transnational information.

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

This allows businesses to verify their supply chain more accurately.

[Ciaran]

1. How does blockchain enable digital provenance?

Because the blockchain stores every transaction ever made (and can’t be modified once verified) it provides complete traceability of all of the information involved in each transaction. This reduces the need for trust in the system.

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

A normal database can be modified by whoever controls it as there is only one copy of the database with no consensus necessary between multiple computers.

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

It allows complete traceability of a company’s supply chain, and could allow real time auditing of transactions, reducing the role of accounting within the company (and so reducing the workload and number of accountants (/consultants) needed)

[jgentry]

1. Blockchain enables digital provenance by tracking your financial transactions. These transactions can only be added; they cannot be removed. It brings about trustlessness, blockchain’s overall achievement.

2. A normal database does not bring the same provenance because it is not controlled by a company, organization, government, or authority. Authorities can remove or change the transactions that are placed on a database in the same network.

3. Digital provenance is such a great benefit to many businesses because it achieves trustlessness toward authorities. It gives them opportunity to track their supply chains better.

I appreciate changes to my answers, as much of this is not easy to understand. I take notes during each lecture, but I suppose I’m not taking the right ones. Something tells me this is what college will be like!

[Zhanka]

1. How does blockchain enable digital provenance?

By being open to the public at all times, showing all the operations from A to Z. It can be downloaded and accessed from every computer everywhere in the world.

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

Because blockchain is like a real-life non-stop receipt of transactions that cannot be edited. Whatever is created cannot be changed, unlike normal databases that can be updated and modified at all times.

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

Because it is more efficient and eliminates all human factors, including trust. It puts the accounting and transaction process in one line, therefore makes it easier by automating the allocation.

[juanmanuel10]

Hello
1.- Tracking all the information which is an same blockhain.

2.- Because a normal database has different elements and is very difficult to fix all those . also because you only must to trust.

3.- because allows you having all the data in the same platform and at the same time.

[MikeL]

1. How does blockchain enable digital provenance?
   Blockchain allows for a trustless system for transactions and history and tracking of same and also the same for items of interest, which a person or group could find value in. Blockchain allows for this since it is possible that there is no authority or group that is depended on with this history or tracking.

2. Why doesn’t a normal database bring the same provenance?
   A normal database is not trustless, since it is not distributed across the world in a public network, which validates and provides consensus for the database in a decentralized fashion. A trustless, distributed database, as described, provides the ability for transactions and other items to be given an immutable history and tracking without needing a centralized system or authority.

3. Why is digital provenance such a great benefit to many businesses?
   First, they don’t have to trust or confirm those with which they transact and interact with. Second, digital provenance can significantly help with having an immutable history and tracking, such as with transactions. Third, this can translate into savings of time and resources in terms of accounting, supply chain and also allow a business to interact outside current norms of banking and money transfers and transactions, which can be limiting for many reasons.

[Wevlin]

1. How does blockchain enable digital provenance?

• blockchain creates a trustlessness consensus with the open ledger with immutability where every transaction can be tracked

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

• central points of failure, opaque database structure so we have to trust a 3rd party, aka sony but they get hacked and system is down. Decentralized nodes build resiliency to prevent this!

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

• many of the benefits from question 2 apply, mainly the sort of self auditing nature and stability standards that creates a trustless ecosystem provides immense value for enterprise scaling businesses.

[vale_dinap]

— My answers —

1. The blockchain technology is built around a decentralized digital ledger on which information can be written but never edited/deleted. One of the advantages of this methodology is allowing a full backtracking of any element present in the database. On top of that, being the database decentralized (duplicated in multiple locations), it is virtually impossible to counterfeit any information recorded.
2. A normal database is centralized, therefore the information stored cannot be openly verified and depends on whom controls it and on his ability (and will) to preserve the integrity and veracity of the data.
3. Digital provenance would secure, speed up and optimize transactions, supply chains, contracts and end user’s experience: the possible use cases are truly limitless.

[vandenBosch]

1. How does blockchain enable digital provenance?

Blockchain is a public ledger. All new data is stored and no data can be removed. So you can follow all acounting and transaction info

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

Because data can be erased and it is based on trust

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

You don’t have to trust , you can verify.
This trustless system saves time for bookkeeping and auditing