Exactly. Everyone should have this in their mind. Another great quote you will understand later is “Not your keys, not your coins.” 
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Looks good to me. Trust me, there is a whole lot more you will learn. In fact, once you finish the course you will start to see some thing differently. At least, that’s what happened to me. The new course called the Bitcoin Standard is talking about the history of money. Its very important to understand that. Keep up the good work. 
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What about the first 2 question?
Hi Mauro,
Thanks so much for your feedback. I now have a deeper appreciation of the decentralized nature of blockchain.
Have a nice weekend!
Eric
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Thanks, Mauro! I do understand the brain is the opposite of a blockchain in that is never stays the same. 
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Blockchain is a decentralized, immutable digital ledger system that can be likened to a virtual runestone which can be added to but cannot be altered once the informutation has been virtually ‘carved in Stone’.
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A normal database is centrally controlled and can be altered by anyone with the access and permissions to do so.
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Digital Provenance is such a great benefit as it will provide a complete transparent history of transactions between parties involved, from the origin to completion of process.
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Q1. How does blockchain enable digital provenance?
A1. By being on a blockchain transactions can be trased and verified without the need for trust. Plus it’s public information observeable in real time.
Q2. Why doesn’t a normal database bring the same provenance?
A2. A normal database is centralized and controlled by an party that guarantees for the information in this database(requires trust) and this database is not publicly accessible.
Q3. Why is digital provenance such a great benefit to many businesses?
A3. A great benefit for the businesses is the possibility for real time auditing they get with a blockchain where transaction info is fused with the transaction itself.
Another benefit is that the clients can trace and verify at each moment what the business is doing which frees time and resources for the businesses(they dont need to answer those kinds of calls and questions).
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Hi , my name is Izumi. Japanese based in Switzerland. I have been in finance for 20 years and I totally agree with Ivan that these old big establishment are facing a immense change to come.
I am very excited to learn new aspect of money and be part of the future développement.
Homework #1 blockchain-and-bitcoin-101
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How does blockchain enable digital provenance?
Blockchain only allows adding information on the transaction history but no removal. Each accountable transaction is related to a real payement. Verification can be done at any moment and this information is open to public. Therefore, this could avoid the accounting job to match transactions and justifications. -
Why doesn’t a normal database bring the same provenance?
Normal database are centralized and not all of data are open to public. As the normal database requires auditing or accounting activity, the provenance of transaction may not be as transparent and prompt as Blockchain.
3.Why is digital provenance such a great benefit to many businesses?
It is because the transparency of digital provenance shows what transaction took place where for what till the final destination. One example is Clothing. It is easy to know if the product was produced by children labor or not.
This provenance clarity should be able to stop Mooney laundering if it is accepted by majority of governments in the world.
Izumi
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How does blockchain enable digital provenance?
You can only add information to the blockchain and not remove it. Each transaction can be verified and tracked back at any time by anyone. -
Why doesn’t a normal database bring the same provenance?
normal databases are centralized. information can be added and removed. and not everyone has acces to the information stored in those database. -
Why is digital provenance such a great benefit to many businesses?
Its trustless and cannot be manipulated. every information can be tracked back at any time by anyone. So there is no way to cheat or hide anything from others.
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- Removes trust, opacity; creates objective transparency.
- “normal” db is centralized, thus subject to manipulation.
- Inter alia, removes third party or middlemen from transactions, thus improves profits/efficiencies; provides a competitive advantage.
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Trustless
Verifiable
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The “nodes” are decentralized and have copies of the same database all around. It is free from government or authoritative grasp and is completely public. Data can only be added and never removed. Also, when you are getting food from a market, you are trusting that the ingredients are as they are printed, however, you trust less in blockchain since you can verify yourself.
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In a normal database, data can be removed or edited. Also, they can crash and lose all data if there is no backups. They are not as trustworthy as blockchain databases are since there are many computers “nodes” that have the same copy of information and data cannot be removed.
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This can benefit businesses in customer relations since the customer can look up where there consumer products are coming from, how much money was spent on it, when it was shipped out, etc. It also brings a sense of security to a business knowing that their data is backed up on many other computers. Ensuring that data cannot be lost or hacked in any way, only publicly viewed.
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- It enables digital provenance by alowing anyone track any transcation… blockchain allows real time auditing by mixing the real transactions with the accounting.
- A normal database does not provide the same trustable system because demands someone putting the information of transactions on a ledger, so it is necessary trust in who administrate the database.
- Because they can offer a completely transparent supply chain for their customers, and also offer a direct and traceble way of payment, etc…
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1 .You can only add information to the blockchain and not remove it. Each transaction can be verified and tracked back at any time by anyone.
2. A normal database is not a public ledger and therefore is not open to the same open information as provided by a public ledger.
3. It enables tracking of origin of items. It helps organizing tasks and to communicate in complex organizations. I also stores information about items, which is accessible and easily reviewable by all participants.
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1.Because the data record is instantaneous, immutable and verifiable all the time.
2.Because they are normally centralized, the data can be modified.
3. Because you no longer have to trust people, but rather the data that is in the general ledger, which is verified by the entire networ
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The blockchain enables digital provenance by use of a public ledger that can be traced in real time. Ex. Every step of a supply chain can be verified from the point of origin. Digital provenance = Trust.
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A normal database can be corrupted or manipulated by a central authority.
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Digital provenance in business will allow customers to choose companies that provide customers with quality products customers will be able to verify for themselves.
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1.- By tracking and verifying in a decentralized way and in a trustless environment.
2.- Because it can be manipulated by a central authority.
3.- Because you don´t need to trust, just verify whatever information that you need to, depending of the application of the blockchain, for example tracking a transaction with the accountant in the same layer, or verifying the origin of a certain kind of supplies for the manufacture of any product, giving you complete certain of the content of the product.
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How does blockchain enable digital provenance?
As blockchain is a digital ledger, thus, it can be used to track the history of ownership or in this case the item origin and the path it took to get to its customer.
Why doesn’t a normal database bring the same provenance?
A normal database is just a server that is most likely controlled by a single entity and the records it holds can be tampered with. This approach only works if the entity can be 100% trusted while using a decentralized public ledger this trust is no longer required.
Why is digital provenance such a great benefit to many businesses?
For example, a business can provide its customers a very easy and convenient way to verify that a specific item actually originated where the business says it originated from.
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1. How does blockchain enable digital provenance?
Since everything on the blockchain is traceable and trackable, transactions can be audited in real time, without the need to “Trust”
2. Why doesn’t a normal database bring the same provenance?
a normal database is prone to forgery, modification and tempering, so the system does not fit to have provenance.
3. Why is digital provenance such a great benefit to many businesses?
Being able to check in real time and having clarity in the supply chain, makes everything more efficient and it will cost will be greatly reduce. Being able to verify means everyone will have to step up and in order to bring value to the system or survive, which in turns brings the cost of down dramatically and increasing the quality of life which benefits the whole society.
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Since Blockchain is a network computers throughout the Globe, any transaction or recordings is immutable, it is a Digital Stone database. Every computer have a copy of Blockchain and looks at its database and verifies accordingly. In digital Provenance new datas can be added but not removed. every thing can be trucked and traced in real time.
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The distinction between other databases and digital Provenance is, other databases ore centralized, you have to trust a 3rd party. datas can be destroyed or can be manipulated bay a central organ. While in a Blockchain digital provenance is a complete decentralized and permissionless.
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The great advantage of digital Provenance to many business, they put any transactions, origins of their products and services in the public ledger that every on can verify it. This will make them transparent
and there is no need for auditing and controlling from external entities.
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