Homework on Provenance - Questions

Blockchain and Bitcoin 101
#1842

Homework on Provenance - Questions

  1. How does blockchain enable digital provenance?
  2. Why doesn’t a normal database bring the same provenance?
  3. Why is digital provenance such a great benefit to many businesses?

1 . The blockchain structure itself is a form of digital provenance retaining information about ownership and transaction of ownership in each block in an immutable record.
2. Becasue a normal database is separate from the transaction mechanism. Additionally normal databases are editable whereas blockchain is not.
3. At current I’m not sure if digital provenance could replace accounting enterprises because someone would still need to compile reports, income statements, etc. However if this could be layered into the blockchain then that would be extremely beneficial. In my yet naive understanding, it seems that bank transaction logs form similar provenance to blockchain provenance. However, Ivan did make mention that these accounting features could/will be layered into the blockchain eventually. Regarding transparency and immutable records in terms of accounting, some businesses would view that as a positive and others would not, i.e., opaqueness and edit-ability would not be easily replaced in the current business atmosphere of the day.

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#1843

Homework on Provenance - Questions

  1. How does blockchain enable digital provenance?
    Every transaction written on it can’t ever be erased, as the same data. So every step can be can be digitaly verified- digital provenance
  2. Why doesn’t a normal database bring the same provenance?
    There you can erase date, with blockchain not, as there are different copies of the database.
  3. Why is digital provenance such a great benefit to many businesses?
    As you don’t have to trust anymore, its possible to verify it through blockchain.
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#1844
  1. How does blockchain enable digital provenance?

-Blockchain creates a digital ledger of the history of ownership (provenance).

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

-A normal database can be adulterated due to its open nature and is thereby not inherently secure or objectively trustworthy.

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

-Digital provenance through blockchain provides an added layer of security and a faster more efficient means of verifying a transaction record. There is an application for digital provenance in almost every industry.

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#1845

Homework on Provenance - Questions

Q: How does blockchain enable digital provenance?

A: The principle of benefit of blockchain is it immutability have every transaction held in the ledger permanently. Once the block is filled it is a “digital stone” or “digital maker” is place in the Blockchain. The Genesis Block and White paper detail the methodology and functionality of the Blockchain to ensure provenance.

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

A: Normal databases can be edited by their design; Blockchain databases (ledgers) can NOT be edited by their design.

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

A: If something can help a business with logistics tracking and auditing it would be a game changer for that business. The Self-Auditing feature can prove to be very beneficial to business as we enter Web 3.0.

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#1846
  1. Blockchain transactions also contain accounting information and are decentralized, meaning transactions contain all info about where they came from and eliminates the need for auditing.
  2. In a normal database, transactions and accounting are separate; and they are centralized and opaque, meaning one cannot automatically see the accounting/origins of things. Plus, centralized databases can be manipulated/data can be removed.
  3. Digital provenance means businesses can save money on auditing- and can also demonstrate to their customers where their sourced material comes from.
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#1847

  1. You dont need to trust anyone because you can verify all transactions on the blockchain. You can remove only add transactions into the blockchain.

  2. Because you cannot verify it yourself and thus you must trust the info that is given to you on the database

  3. It allows customers of business to verify claims made by the business. Trustless system do not need to trust any business. Everything it verified on the blockchain.

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#1848
  1. How does blockchain enable digital provenance? Blockchain creates digital provenance through the network verification of data. The larger the network the stronger the verification. The digital block chain is built by adding data and data cannot be removed. This process is observable through the transparency of the network.
  2. Why doesn’t a normal database bring the same provenance? A normal database is centralized and data can be removed and therefore having those characteristics requires trust! History and humanity has often proved that trusting a centralized person or system can be detrimental to the person (s) doing the trusting.
  3. Why is digital provenance such a great benefit to many businesses? Trust! Businesses make claims about their products and services everyday. The consumer has become numb to the message because very often the businesses claims are not supported. Block chain can solve a great deal of that by providing transparency of those products and services within the blockchain.
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#1849

1] How does blockchain enable digital provenance?

from my current understanding, a public blockchain removes all the guess work and unnecessary trust between both parties.its especially useful if one party has more leverage than you in a variety of ways especially in information like for example, finding out whats in vaccines? what are the sources for the ingredients? producers of the medicine? information on trials? people that had adverse reactions? what countries/people/ animals were tested? deaths? and other information the receiver of the medicine should know to make better decisions about what goes in their body. putting a better balance with both parties involved.

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

From my current understanding, the question is who controls the database? what information is collected in the database? who decides what is pertinent and worth recording and what isnt? is the information honest? is the party presenting the information trustworthy?

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

From my current understanding, i can see there blockchain being extremely beneficial to business of all sizes, mom and pop to mega corporations, one such example is keeping better track of inventory. another being keeping records of transactions and payments ideally in real time also the sucky part of kyc and everything that entails.also being able to share the information to get better understandings of the micro and macros scope of the many different environments of business as a whole or in comparison to other business in and out of the space.

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#1850

1: By putting all information in a public “database” blockhain that is immutable you have the best record for provenance.

2: Trust. normal database is not immutable in the same way and is probably centralized. You have to trust that the normal centralized database will tell the truth.

3: Digital provenance are great benefits for business. Its much more efficient and trustworthy if it is done by a public blockchain.

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#1851

1.The immutability characteristic of blockchain makes all track-able. Blockchain makes provenance possible by the fact that one can add data but not remove it from the ledger.
2. A normal database allows data to be changed, removed, and replaced. Blockchain ledger doesn’t.
3. The readiness to verify streamline processes, providing savings, efficiency, and trust throughout the transaction.

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#1852

  1. The immutability of blockchain provides a real time unquestionable proof of stated origin. If the initial entry is correct all subsequent entries must be correct.

  2. A normal database is editable in relation to its security protocols but even the most secure database is accessible by at least one entity. Standard databases are usually centralised or minimally distributed and subject to total loss easily.

  3. I imagine current businesses take a large risk by stating facts about their products that could later be disproved or incur costs in confirmations. Digital provenance provides a greater surety than current systems. The easily accessible information reduces cost and risk.

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#1853
  1. Blockchain is public decentralized database,where data can be added but not removed.All transactions are traceable for everybody.
  2. In a normal database data can be added and removed,this means that using this database is based on trust.Trustlessness.
  3. Digital provenance would allow businesses to increasing efficienty with real time audits done digitally to prove you got or lost your money.
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#1854

Homework on Provenance - Questions

  1. How does blockchain enable digital provenance? You can verify the transactions in the Blockchain ledger.
  2. Why doesn’t a normal database bring the same provenance? No one it’s able to change the information without verification.
  3. Why is digital provenance such a great benefit to many businesses? Because you can have all the information in one place, where you can see the account and transaction information.
#1855

Hi there!! First of all, welcome to the forum!! We are happy to help in any questions you have!

What characteristic of the blockchain enables digital provenance?

Do you mean that they are able to change the information??

Felipe.

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#1856

Homework on Provenance - Questions

  1. How does blockchain enable digital provenance?
    The ledger is public and can be verified immediately so everything can be traced.
  2. Why doesn’t a normal database bring the same provenance?
    Because a normal database is centralized and can be changed, requiring an element of trust.
  3. Why is digital provenance such a great benefit to many businesses?
    Trustlessness and Traceability.
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#1857

  1. Blockchain technology enables digital provenance because it verifies a transation while at the same time it tracks the transaction permanently for real time auditing.

  2. A normal database does not bring the same provenace as blockchain because it’s data can be corrupted or changed. The accounability does not even have to be tranparent for this data on a normal data base. It is centralized and therfore it can be controlled.

  3. Digital provenace is a great benefit to businessed because it creates an efficient trustless system where transations and accountability can be stored together in verifiable, transparent, immutable blocks that are proven by consensus.

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#1858

  1. through a trustless public ledger that is immutable and that information can only be added by the supply chain.

  2. Because the data can be erased or lost if the whole database is down or removed, and in the end depends on trust

  3. Because it gives the possibility to track the data and confirm whether there is or there isn’t an object or process in particular

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#1859

1.) Because you know where your bitcoin came from. By making it decentralized therefore trust less. In which no central authority or government can control the blockchain.
2.)There’s a lot of trust involved in every database. It is authorized by central authority.
3.)It is much convenient to all costumer. They can verify and make sure the quality is best or not. They know where it came from

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#1860

Homework Provenance

  1. How does blockchain enable digital provenance?
  • It enables digital providence by using a decentralized database that can only be added to and not subtracted from. Decentralized nodes validate the data to ensure that everything makes sense before something is added. Each block is “etched deeper into stone” with each passing block that is verified after it.
  1. Why doesn’t a normal database bring the same provenance?
  • In a normal database the owner of that database can remove and/or alter the data stored on it. Therefore you must trust the holder of the database to act in everyone’s interest.
  1. Why is digital provenance such a great benefit to many businesses?
  • The main benefit is it adds a tremendous amount of efficiency by removing the need for a trusted third party. It also streamlines a lot of the transactions and data keeping that a business has to do on a daily basis. Examples include: test data prior to shipping a machine, data logging from sites, payments, inventory management, etc…
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#1861

  1. How does blockchain enable digital provenance?
    Blockchain enables digital provenance because of its nature, Blockchain is a public , crystal clear open ledger where all transactions can be traced and verified.

  2. Why doesn’t a normal database bring the same provenance?
    Simple, normal database transactions can be manipulated in a lot of ways, ad]nd it can get lost or hacked.

  3. Why is digital provenance such a great benefit to many businesses?
    Because it provides efficiency, accurate traceability and real time auditing. Now days trust is not relevant, this gives the client security because the process can be verified at any time.

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