Homework on Provenance - Questions

  1. How does blockchain enable digital provenance?

All transactions are trackable in real time. Every data is public. Not necessarily all the information (ex. encryptions).

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

Because it’s centralized.

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

Accounting and transactions are on the same layer.

Good technology for tracking the flow of anything. Ex. goods and services. No need to trust third parties.

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  1. Blockchain enables digital provenance by creating linked information that cannot be altered after its creation. This linked information is also independently verified by multiple sources that interact with the blockchain.

  2. A normal database does not bring the same provenance because information can be altered following its initial creation and does not have the same level of verification as a blockchain.

  3. Digital provenance is a great benefit to a business because of the unbiased verification it can provide partners and customers who utilize a business’s services or products.

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1 it allows for transparency and permanent information ledger this creates an environment of openness and traceability …no enron can be created by cooking the books because everyone would see and it would be quickly exposed
2 a normal data base is not kept up to the second it could be months between audits and much could be effected also an auditor could be coerced or be incompetent in their findings with an open book system many people are auditing it and checking it throughout the world
3 digital provenance can check status products quality of products see if there is any discrepancies basically removes any doubt about someones or somethings credibility

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Great answer. Keep up the great work. :smiley:

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I assume you meant to say “unlike blockchain”. Normal database is susceptible to easier attack and data manipulation by the admin. :smiley:

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Exactly. Its much more automated. :slight_smile:

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A very good approach to the questions. Outstanding answer! :fire: :fire:

Is there anything more you could add? Why is centralization bad for provenance?

Yes. Thanks for correction.

Should I go back and edit this ?

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Not needed. Your answer was good. Keep up the great work. :smiley:

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THANKS!! :muscle: I appreciate the feed back!

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1.- Because is not possible to remove data from the Blockchain we can only add data
2.- Because a normal database can be modified.
3.- Because it gives them the possibility to check the information they interact with third parties they make business with and therefore they can verify and not only trust in their counterpart reputation.

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  1. It gives us a possibility to check full transactions history, because it does not allow to delate any information from the block. That is because it does not come under any central unit, but the diffuse network.

  2. Normal database is managable by someone who is the owner of management process. That person could make a mistake or intentionaly change some data in somebody’s favor.

  3. It gives us the shortcut to important information, and we can recive it without distortion of middlemans. It does not demand trust from us, because if we can know something for sure, we don’t need faith in someones honesty.

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Answer:

  1. Blockchain enable digital provenance by engaging various computers to verify each and every transaction details.

  2. It is because a normal database will not be as efficient and 100% accurate in tracing and tracking of every single transaction. And a normal database is prone to error and most importantly is alterable whereas digital provenance is non-alterable.

  3. It is because with the ability to accurately verify each transaction and furthermore being able trace the whole process makes digital provenance trustlessness. As such it brings a great benefit to many businesses.

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Data in a centralized database can be edited. In a decentralized system like this, where adding data is the only option (no deleting possible), the database itself can always be trusted. No one can manipulate the data.

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  1. Because blockchain allows an immutable public (or permissioned) ledger which can be used to authenticate transactions.
  2. A normal database doesn’t need to be verified by other nodes of the blockchain. It is a “single point of failure” and it can be altered without anyone’s knowledge.
  3. Digital provenance is such a great benefit to businesses for several reasons: First, it does not require the business to trust another person or company to verify transactions. Second, businesses can track provenance with great temporal precision, for example doing an audit every minute or so. Third, digital provenance using blockchain can allow a perfectly verifiable, trust-less “chain of custody” for any parameter you would like to track, so long as it is recordable.
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  1. I can not be erased or changed in a transaction. It is verified on other computers. If the transaction is not according to the rules of blockchain, it will not process.
  2. Normal databases are a different animal. You can change the data and loose the data.
  3. You don’t need a bank for verifying transactions
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  1. Because it is decentralized and trust less so nobody can change the data inside it.

  2. Since central authorities can change and manipulate the data.

  3. Because customers get to know where stuff they bought came from.

  1. Blockchain allows you to trace financial transactions in real time on an immutable ledger.
  2. In a normal database the data can be changed/deleted/reversed.
  3. Having an immutable ledger will allow businesses to do an audit in realtime.

Don’t trust. Verify!

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  1. By adding an immensely increased possibility of a more just system (blockchain) based upon the elimination of human err in some aspects.
  2. Humans are included in the process and with them also comes possible variables of unethical practices in the form of for example:stupidity,cheating, manipulating, hiding, withholding, bribing, falsifying, fudging, loop-holing as well as other self-serving, moraless tactics that commonly occur when someone thinks no one is watching or are aware.
  3. Dignification of the parties involved via a system (blockchain) that allows them to keep integrity by taking away the factors that made TRUST a necessary variable to begin with. Oh yeah and its faster. Remember when we use to barter like pearls for salt before some guy learned how to paint rocks.
    Don’t trust Verify!
    3a. No humans just information
    real-time tracking allows for better innovative auditing and better innovative more.
    tamperless records = higher integrity verification
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