Homework on Provenance - Questions

  1. The blockchain acts as a public ledger, allowing all transactions to be traced and/or audited in real-time.

  2. A normal database doesn’t offer the same protection, thus resulting into more hacks on said database. The end result is that you then have to have a system based off of trust and not actual transparency.

  3. Being that it is a system based on results and a common goal and not trust. Therefore making it easy to see how the money is spent and the ingredients used to develop company’s products/services.

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1.By allowing to trace and audit data in real time (trustless)
2.Because a normal database is not transparent: you can erase and modify data, for example.
3.Because provenance allows us to verify data.

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Hey @Justin, @verheesj, @Jacques_L, @Jeff and @thenamese! :slight_smile: Great to see a lot of newcomers! Welcome to the forum! :smiley:

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  1. How does blockchain enable digital provenance?
    Blockcahin is a public ledger and can trace financial transactions in a real time auditing.
  2. Why doesn’t a normal database bring the same provenance?
    Blockchain can bring together the accounter and trrabsaction layer in one transaction.
  3. Why is digital provenance such a great benefit to many businesses?
    The key is trustlesness, don´t trust but verify. It is the key for the buisinessworld to garanty that the offered product is the original.
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  1. How does blockchain enable digital provenance?
    Blockchain puts the accounting layer together with the transactional layer. That makes realtime auditing possible. It makes the origin of transanctions clear on a efficient way.
  2. Why doesn’t a normal database bring the same provenance?
    A normal database is very centralised. Cause of this you need to trust third parties. Provenance is by default depending on these third parties.
  3. Why is digital provenance such a great benefit to many businesses?
    It removes the element ‘trust’ out of the concept of provenance. Businesses can verify by themselves. That’s a huge benefit!
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  1. How does blockchain enable digital provenance?
    blockchains are immutable digital real time record that cannot be removed and tranparent to all interested parties.

  2. Why doesn’t a normal database bring the same provenance?
    Existing infrastructures are centralized and therefore more vulnerable to attacks. Data can be modified in existing databases and therefore one must have trust in the information they are receiving.

  3. Why is digital provenance such a great benefit to many businesses?
    By adding the trustless element to whatever usecase is a large benefit to all users. The community knows where the data came from. All records are available to all at all times. verfication occurs very quickly and systemically.

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Hi @LivePuraVida! :slight_smile: Good answer! Welcome to the forum! :smiley:

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1 - By the use of a decentralized network of computers having the same database records, in which the data can be input and validated by all the participants/actors concerned by the product.

2 - A normal database can only be created/approved/edited by a single entity/party, where the only way to approve legitimacy of the database is by trust in a person or company.

3 - Businesses won’t require to have to trust in any specific company or auditor for the provenance because everything will be readily available, non-editable, updated and validated at all times by the digital provenance blockchain.

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  1. Blockchain enables digital provenance by using a network of computers to verify a public ledger of transactions.

  2. A normal database doesn’t bring the same provenance because you can add and subtract from the ledger.

  3. Digital provenance is a great benefit to many business because it creates a trustless process for storing and verifying data.

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  1. The blockchain is a database that cannot remove, but only add new information. It is 100% decentralized which means no authority can tamper with it.
  2. A normal database can be changed and is mutable from a single or several entities.
  3. Digital provenance allows real time auditing, and the ability for the business to verify the history themselves without trusting a third party.
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1: Real time auditable and immutable.

2: A normal database is a centralized db and therefore not “transparent” (trackable) and not traceable. It could be changed by owners. NO TRUST!

3: Is trustless and has a private and public access

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Hi @Streeter_Elliott! :slight_smile: Welcome to the forum! :smiley:

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  1. How does blockchain enable digital provenance?
    Blockchain enables digital provenance by validating the information in the ledger without the need for auditors or third party validators.

  2. Why doesn’t a normal database bring the same provenance?
    Normal databases can be modified, and are not decentralized which questions the trust factor.

  3. Why is digital provenance such a great benefit to many businesses?
    It offers real-time auditing with no extra-costs and/or the need for third party expense.

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1.it enables real time auditing and tracking of financial transactions through the public database/ledger/network
2.normal database are centralized and owned(control) by bank or entity
As to where trust is more established and concrete in blockchain, you can track and be in control of information, decentralized,
3.digital provenance is effecient and credible to businesses, you are able to track n be efficient with product ingredients and have a trust worthy info on your supply chain

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Hey @Kemone_Moore! :slight_smile: Welcome to the forum! :smiley:

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  1. How does blockchain enable digital provenance?
    Blockchain enables digital provenance by providing a trail of transactions that are stored in blocks. These trail or historical transactions could be used to identify all the details and info that are recorded across a network of blocks.

  2. Why doesn’t a normal database bring the same provenance?
    The normal database is static and would only store that data that is current for that transaction. Unless there is a historical table set. For instance if you have a transaction and an update is made, then the latest snapshot of that transaction is what you would see.

  3. Why is digital provenance such a great benefit to many businesses?
    Digital provenance is important as it will provide a historical trail on the transaction, which will be useful for most financial companies.

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By using blockchain technology the access to the “ledger” is public and read-only.

Normal databases have data that is able to be edited. Hence a notebook

verification of content. This way no one can tamper with the database and if a database is tampered then it is rejected by the blockchain because it does not match the other databases on the network

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  1. Blockchain only allows for additions, such that once an entry is made to the ledger it is permanent and unalterable.
  2. Entries can be modified.
  3. No longer need to “trust” humans who are prone to error. Blockchain creates record that cannot be tampered with so businesses no longer have to expend resources on policing suppliers, etc.
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  1. How does blockchain enable digital provenance?
    Answer: Digital provenance created by blockchain technology provides the ability to digitally track all aspects of a transaction. All the information is recorded permanently and cannot be erased or removed, but only can be added to. The information is also available to the public directly or through encryption through every computer running the network which is known as a public ledger.

  2. Why doesn’t a normal database bring the same provenance?
    Answer: A normal database does not bring the same provenance because information is centralized or controlled ultimately by one entity or by humans which allows the possibility for error or nefarious activity. Information can be recorded over time, but can always be modified. This governance doesn’t allow for transparency because information can be concealed.

  3. Why is digital provenance such a great benefit to many businesses?
    Answer: Digital provenance is a such a great benefit for many businesses because it eliminates the need for trust when different parties work together. Because the blockchain is built on a network of computers, every activity is recorded and can always be verified. No one person or entity can falsely report or create information that was never part of a transaction because of the public ledger that tracks all transactions.

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  1. Blockchain enables digital provenance because it is a public ledger of transactions that can be traced and verified.
  2. A normal database does not bring the same provenance because accounts and transactions are usually separated therefore they can be removed, erased, or even left unaccounted for.
  3. Digital provenance is greatly beneficial to multiple businesses because it allows for real time traceability and real time auditing. This not only saves the business time but also provides the consumer with a sense of reassurance.
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