Homework on Provenance - Questions

Blockchain and Bitcoin 101
#1619

  1. Because blockchain is a public ledger that can only add transactions.

  2. Because there are layers in others. Blockchain mergers the accounting layer with the transaction layer.

  3. Because it allows the tracking on things and digital accounting of transactions.

#1620

How does blockchain enable digital provenance?
Block chain enables digital province through authenticity. Digital providence is the capability of tracing things through mathematics achieving trustless verification.

Why doesn’t a normal database bring the same provenance?
A normal database does not bring the same provenance as the blockchain. Currently, a normal database relies on expanded trust of internal and external stakeholders. Not all variables are measured in a normal database creating a lack of traceability. Additionally, normal databases can be manipulated to adhere to the user / audience’s endeavors.

Why is digital provenance such a great benefit to many businesses?
Digital provenance is a benefit to businesses through trustless verification. Digital provenance removes human error and manipulation allowing authentic verification.

#1621

  1. Blockchain enables digital provenance by functioning as a digital ledger that cannot be altered, only added to. If transactions are immutable they can be traced and verified, thereby providing a ‘trustless’ system which leaves out the inherent weakness in having to rely or trust companies/individuals at face value.

  2. Because a centralized system with top down control will always be vulnerable to tampering, coz people, and if there is no transparency, there is no trust.

  3. This is a game changer in so many ways but I think one of the most important aspects of digital provenance is that based on a set of protocols it provides an environment that cannot be messed with and businesses with a product that can be trusted.

#1622

  1. How does blockchain enable digital provenance?
    By providing a trust-less system where each transaction can be verified by another node. Each node holds a ledgers or list of prior transactions that once added to cannot be changed.This allows traceability without corruption whether it be financial or tracking raw materials through a manufacturing process to a finished product.

  2. Why doesn’t a normal database bring the same provenance?
    A normal database can be manipulated after a transaction has happened. Data cannot be lost as information is held on each node on a network

  3. Why is digital provenance such a great benefit to many businesses?
    It provides more efficient auditing and traceability as transactions and relating information can be recorded as one in real time. Other nodes can verify this information removing both human error and the need to put trust in the information provider. Information is unlikely to be lost a data is decentralized and each node keeps a copy of prior transactions. These Key factors can massively reduce costs.

#1623

1. How does blockchain enable digital provenance?
By creating a decentralized trust less network that can be verified by anyone at any time but cannot be changed by anyone.
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2. Why doesn’t a normal database bring the same provenance?
Because a normal database can be altered after a transaction has been made.

3. Why is digital provenance such a great benefit to many businesses?
It removes having the need to trust anyone in a supply chain. You can just verify yourself from the public ledger.

#1624
  1. Data on blockchain is unchangeable, thus making data manipulation practically impossible due to all copies of the ledgers.
  2. Normal database is prone to manipulation, it is stored on one or few servers that can be hacked, destroyed. Also in the example of food… there are different companies /suppliers using different databases, which complicates stuff even more.
  3. Don’t trust, verify :slight_smile: It’s cheaper, more efficient, more reliable.
#1625 
1.	How does blockchain enable digital provenance?

The end is the beginning…the beauty of the blockchain is that the veracity of a transaction is verifiable on the public ledger which enables digital provenance.

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

In normal accounting the transaction and the accounting is separate. This requires the addition of auditors to verify transactions.

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

The middlemen are bypassed when using blockchain technology. The elimination of middlemen streamlines efficiency of supply chains. As we have seen in the recent supply chain disruptions due to Covid-19, supply chains are too complex. Food is literally being plowed back into the soil because they can’t get the produce to the consumers due to the complexity of the supply chains! The blockchain will allow farmers in the future to track produce from seed to table cheaply and efficiently hopefully bringing food availability and costs low. This is one of many examples.

#1626
  1. Transactions are set in (digital) stone, each transaction is traceable to it’s origin and the ledger is public; so all data is available real time for everybody.
  2. they are centralized, not distributed and there is no immutable registry of all data interconnected to its origin
  3. I think that is a matter of opinion whether this aspect is going to be an actual benefit for many businesses, but it would theoretically allow for a lot of transparency and perhaps elimination of middlemen, for example the need for auditors would substantially diminish, which could have a cost benefit.
#1627
  1. How does blockchain enable digital provenance?

Blockchain creates a decentralized platform that allows Provenance to trace transactions in real time

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

Normal databases are centralized, which means can be altered, erased, duplicated hacked and needs permission by a central actor.

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

Because it removes trust from the equation. Businesses no longer have to trust the word of a partner, and instead verify the validity of their actions through an open non-partisan actor

#1628
  1. How does blockchain enable digital provenance?
    Blockchain makes it easy to trace financial transactions in real time.
  2. Why doesn’t a normal database bring the same provenance?
    Blockchain keeps a record of every transaction as it is moving from block to block. The system as we know it now is divided between Accounting and Transaction information it keeps.
  3. Why is digital provenance such a great benefit to many businesses?
    Digital provenance will allow businesses to see all aspects of a transaction in real time. It can show ingredients in food, if clothes were made in places that exploit child labor, etc.
#1629

Blockchain is a databes that allws for data to be added but not deleted or modified

#1630

  1. How does blockchain enable digital provenance?
    Entries that are added to a secure block chain cannot be removed from the ledger nor changed. This ensure that the entry itself can always be trusted for being authentic. However in order to achieve provenance the data should also be auditable. Blockchain provides an open system in which data can be looked up but every entity and therefor auditable.

  2. Why doesn’t a normal database bring the same provenance?
    Normal databases do not provide the same level of security as a blockchain. Because normal database can be changed and copied without the knowing of other parties, a trusted third party auditor is needed to verify the authenticity of a database. Even with a trusted third party there is no guarantee that the data can be hundred percent trusted.

  3. Why is digital provenance such a great benefit to many businesses
    It allows for business to trust data, entries and transactions without the need of having an external auditor. In practice this mean that they can do audits in real time. This speeds up their processes and saves costs. Digital provenance does not only provide benefits for the internal processes of their organizations, the same benefits can be achieved when dealing with for example customers, suppliers and government.

#1631
  1. Blockchain is a public, permission-less, immutable “stone”, or record, that allows for transaction to be verified/tracked.
  2. A normal database requires permission and trust in a third party, and could be changed by that third party. Therefore, it requires a middle man from a customer to the product.
  3. Digital provenance is a benefit because like I was answering in question two, it eliminates middle men. It. brings one person closer to the product or source. We no longer need to rely on trust in something/someone else. It improves our experience but knowing and being able to verify what we are sold, what we are transacted, etc.
#1632

1)You don’t trust, you can verify because of blockchain
2)It can crash and erase but with blockchain you can only add. you cannot change, erase or manipulated what has been confirmed.
3) when you do a transactions you can attach the reason or goods for this transaction. Instead of reading a label and trust it you can verify it because everything will be listed on the blockhain.

#1633

  1. It achieves by keeping every record of valid transactions that have taken place from the beginning until the present time. As such anyone interested in auditing can go through every record.

  2. A normal database cannot do that because some pieces of data might be missing and also transactions and accounting don’t exist on the same place.

  3. It is important in that it serves organisation from losing out to untrustworthy individuals. It also serves costs of hiring the services of an auditor like EY or Deloitte or PwC

#1634

I agree with the immense contribution of blockchain in supply chain but I don’t understand how exactly can blockchain achieve this. Given that supply chain involves physical things which cannot be digitalised.

I am facing the same surprise with regards to what @ivan has said about tracing the ingredients of the foods and whether manufacturing has been done by exploiting child labour.

Can you help me understand this with a possible practical scenario or idea

Thank you

#1635 
How does blockchain enable digital provenance?

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

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

1 blockchain enable provenance by adding data structure in blockchain.
2 because normal database you have to give a trust to the bank or other association which holding transaction, and data in that transaction can be changed.
3 is good for many business be cause is very easy to do audit without being there and reading all receipts, Provenance put accountant and transactions layers all together that is easy to be checked.

#1636
  1. Provenance gives you the ability to track transactions and trace them without needing to question if it is trustworthy or not it does this by creating a immutable record of existence that can only be added and not altered after it has gone through.
  2. This is possible due to the blockchain being decentralised and therefore it cannot be altered like normal databases which can edited and deleted and this is good because the blockchain users have a guarantee that the transaction data is safe and cannot be altered in any way so the can trust it.
    3.it is a advantage for businesses because they do not have to rely other company’s to access their information and can have it openly available to them and can quickly access there transactions and records without hassle and this also eliminates the trust because it is stored on the blockchain which is not centralized
#1637
  1. Blockchain is an open ledger with non remavable transactions which can be track its provenance
  2. Removable transactions, mostly single located: crash…: gone. In itself no prevenance data.
  3. Real-time auditing, tracability, etc.
#1638

1: By being traceable and immutable it provides the element of provenance.

2: A normal database can´t provide the “don´t trust, verify” aspect. Blockchain technology provides trustlessness. U verify instead. It can´t be controlled by a central authority or government.

3: It enables efficiency by removing the trust layer. Then they can cut cost by removing middlemen. It provides use cases like real time tax reporting with the help of the public ledger and provides real time auditing that allows for visibility in an encrypted way while still being auditable and open in an opaque fashion. Other use cases can be the tracking of ingredients in food or tracking of clothes production line. Provenance allows us to trace financial transactions by putting the accounting layer together with the transaction layer.