Hi Xav, like Bitcoin these supply chain networks have many nodes in the network (many more than the few companies planning to collude and lie about the transaction). The people behind these nodes are incentivised to verify the transactions through a mechanism known as POS. This stands for proof of stake, which essentially means they hold the coins in their wallet and they receive a portion of transaction fees relative to the amount they are holding. However, this is a wallet that is connected to the network and has downloaded the entire blockchain, essentially making them a node. That is my understanding of it but I could be a bit wrong so anyone please let me know if I was off on any part, or if it was accurate.
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Hi Mark,
I guess I’m struggling to understand how these other nodes (even though they outnumber the smaller amount of nodes who are lying) can verify/counter-verify the truthfullness of the data? In my understanding they can’t because the only data which comes to them and into the blockchain comes only from the “lying companies”… noone else has data to enter about the cows, the quality of the hay or which supplements are being added… so if they agree to lie there is no other source of truth to counter balance their data and therefore all the nodes will accept this “false information as being the truth”… But again not sure about this
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Hi and thank you for your reply!
Yes I agree that blockchain is better than normal data bases where you have risks at all levels…
My question is more whether if (and how) we can revert/correct data in the blockchain after we have discovered it is wrong…
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Hi Ivan been following you on YouTube for a couple of years and wondering what your thoughts were on the best decentralized exchanges were? I’ve been hodling since mid 2017 but not enjoying all the new KYC regs as are currently being implemented? Any suggestions that are not Financial advise? Also can you pronounce your last name on a future video? Real curious!
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I agree with you I just did the same thing! When did you sign up? I signed on the webinar! Just curious
The thing to understand when we are talking about this data being uploaded to the blockchain is that it is never just manually entered on to the blockchain by any person or company.
With that in mind, it is my understanding that the data that gets stored on the blockchain from these supply chain projects is by the product being scanned along its journey.
Think of how right now when you buy something online, you can sometimes track your parcel through its journey at all the locations it gets scanned through. Well imagine that instead of these scans being uploaded to the central database of the postage company, that it is uploaded to the blockchain. It is now completely decentralised with thousands of nodes around the world that have copies of this database, and these nodes are incentivised through the proof of stake model I explained in the last message.
So right now you have to trust that the postage company isn’t going have an employee go on to change any data in the database or that it be hacked and get changed, whereas when the data is on the blockchain it is then immutable and impossible to reverse.
I hope this kind of explains it, with the main points to remember being that the data isn’t just entered manually by the companies onto the blockchain but rather it is uploaded via scanning just like the same way it is currently done, however that is to a central database so the new way of it being uploaded to the blockchain will be way more beneficial.
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Yeah same. Was going to join soon but the 50% offer was just too good to ignore lol.
OK thanks for the response brother take care and will be in touch! What are you doing now for employment?
in smart contracts you can program variables that can be altered (wich every node will able to see who wants to check this information) I don’t know how exactly known supply chains are working, but you could program it in a way that makes it relative secure. I understand your concern and I share the same ones.
probably with qr codes and or NFC technology. but still, the creator of the goods (the starting point) could temper and lie wich ingredients or whatever is init) or someone steals the package and paste the qr code on another package with fake alternatives ect… it’s not bulletproof imo but still 100x better than the traditional way.
Really enjoying your course. It is a refresher on blockchain, but not only that, you break down this complex subject in a way that is easier for new people to the space to understand. I will borrow from you next time I want to explain the technology behind bitcoin to family and friends.
Hit complete after each section
The first time I heard about cryptography was while studying World War II and Germany’s use of the cryptography machine Enigma. But, that was in high school - quite some time ago. Can’t wait to learn more.
I enjoy the mind maping style of learning, very interesting and colourful way to absorb information to learn and retain them. Very cool, thanks! 
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So far I have enjoyed the content of the course very much. I have learned a lot from this course, lectures and home-works. Great video formats and notes written to follow up when need to double check some of your explanations on key words in this space.Thank you!
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Thank you. You are very correct, everything begins in Sweden 
Glad I signed up - you work is obviously a labor of love and am glad to be learning so new and cutting-edge. Thank You.
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I have some holes in my math education. Thanks.
Ivan,
Your webinar was just the incentive I needed to sign up for academy. I was thinking about joining earlier, but your 50% off was impossible to pass up.
I entered cryptocurrencies at the top of the run in 2018. I was so excited, reading everything about the cryptosphere, and just trying to make sense of it all. It is just an unbelievable new realm of possibilities with a steep learning curve.
I just finished Blockchain and BTC 101 and now the puzzle pieces are coming together. Provenance, consensus, finality, fungibility… all those terms I’ve read about are now coming into focus because of this course. Thanks for building it.
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After I complete Blockchain & Bitcoin 101, which course should follow for my interest in creating a cryptocurrency? @gabba