Homework on Provenance - Questions

Blockchain and Bitcoin 101
#2544

1.Blockchain enables digital provenance by verifying transactions in real time through a network of decentralized nodes.
2. A normal database won’t bring the same provenance, because it requires trust. The accounting and the transactions are separate and because of that, real time auditing isn’t a component like it is for blockchain.
3. Digital provenance is a benefit to enterprise because it removes the need to take someone’s word for something by being able to verify the authenticity and state of a product or transaction.

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#2545
  1. How does blockchain enable digital provenance? Because you don’t have to trust the blockchain
  2. Why doesn’t a normal database bring the same provenance? Because a normal database can be changed and things can be removed
  3. Why is digital provenance such a great benefit to many businesses? Builds absolute trust amongst consumers and businesses. Gives consumers total assurance
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#2546

  1. blockchain enables digital stone which enables digital provenance. Keeping track of everything digitally on blockchain.

  2. because it is not completely transparent plus not secured enough.

  3. due to transparency, trust, tracking in real time with security and low cost makes it attractive.

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#2547
  1. Blockchain allows for digital provenance by providing an immutable ledger that is trustless. This means, if the items in food were in the block chain such as in origin trail, everyone in the public would be able to do a self audit and make sure there is exactly the items in the food that is advertised.
  2. Normal databases are typically private, they aren’t as organized as blockchain, and the data can be deleted. This all leads to a situation where you are forced to trust certain companies. This is why people might prefer a bmw over a kia or coca cola over rola cola. Because people are forced to lean on brand identity to measure the quality as opposed to a list of facts to measure quality.
  3. I think the greatest benefits would be efficiency and transparency. First, provenance is a more efficient because is is automatic. Second, transparency allows no name companies to prove their worth with the facts on the blockchain. This could open a lot of doors for companies that might have otherwise be locked out by bigger companies with brand recognition.
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#2548

Good answer @Najee_Wilson! :slight_smile: Welcome to the forum! :smiley:

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#2549

1- Trough a ledger, not as seen before in history, and not corruptible.
2- A lot of vested intersts, of people using it too. And only regional/national.
3- More freedom, less dependence, less cost.

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#2550

1: Blockchain creates digital provenance as transactions added to the public ledger are only added once they have been verified through the trusted network and cannot be manipulated or withdrawn.
2: A standard database is subject to human error, false manipulation and/or continual editing.
3: Digital provenance means a company can trust its database/s without the need for additional auditing, saving them time and money. It may also help provide a better public image as being open and honest.

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#2551

hi @Edson and @Shauny_B! :wave: Welcome to the forum! :smiley:

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#2552
  1. How does blockchain enable digital provenance?
    Buy being decentralized and trustless, no one entity is able to alter what has already been entered onto the chain.
  2. Why doesn’t a normal database bring the same provenance?
    Centralized Databases have single point entry and can be altered by others.
  3. Why is digital provenance such a great benefit to many businesses?
    It creates efficiencies in that middle parties are not required to verify and report.
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#2553

  1. by using a decentralized ledger where all the information is open to the public.
    the data is encrypted but auditable.

  2. A normal database can be changed.

  3. because it removes trust. “don’t trust, verify”. Consumers have the ability to see where and how their products are made.

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#2554

  1. Because the network is constantly verifying transactions and tracking the data, with more infrastructure being added to the network all the time it’s nearly impossible to corrupt it.

  2. Because it is typically centralized with one particular company or service provider.

  3. Transparency/ accountability from all parties and the removal of third party companies that you need to usually trust and incorporate into your businesses, which can be costly and create too much overhead and dependencies on them.

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#2555
  1. Due to the nature of blockchain, every transaction and accounting are traceable and immutable. It’s a trustless and can be verified.
  2. Normal database is centralized, and the can be added and removed, which destroy the whole purpose of tracking and trace the origin
  3. There is no one involved or interfering or tampering with blockchain ecosystem, everything is transparent. Not a single user has an unfair advantage over the other.
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#2556

  1. It is visible to all. As a digital database it allows the addition of information but never the removal or editing.

  2. Because it can be changed and it doesn’t have the ability to log and account for the information at the same time.

  3. Saves them on accounting and other support services.

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#2557

  1. How does blockchain enable digital provenance?
    Blockchain allows for an immutable public ledger that can only be added to, but not subtracted from.

  2. Why doesn’t a normal database bring the same provenance?
    A normal database is not immutable and therefore not trustless

  3. Why is digital provenance such a great benefit to many businesses?
    It removes the necessity for brand based trust and gives potential customers a mathematically verifiable proof that the business in question is operating as it says it is

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#2558

1.) provenence is maintained by using immutable realtime record keeping.

2.) normal db’s are corruptable

3.) it’s a good fit for business because it’s public/private, trustless, and fast.

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#2559
  1. Provenance is the ability to track something. In relation to blockchain, provenance facilitates the tracing and racking of financial transactions by providing detailed information about how these transactions were initiated all the way to how they were completed. Provenance therefore, provide real time auditing relating to all stages of transactions. Since the blockchain represents a distributed decentralized ledger, that records information about transactions in a manner that makes it impossible for these transaction to altered or removed from the system, it enables provenance by providing a high level of accountability and transparency.
  2. Normal database is not able to provide the same level of provenance because it cannot absolutely guaranty the integrity of transactional records. This implies that records in a normal database can be manipulated.
  3. Digital provenance is a great benefit to many businesses because genuine real time auditing of businesses can be done transparently.
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#2560

Homework on Provenance - Questions

  1. How does blockchain enable digital provenance?

All transactions on the ledger are permanent and in sequence. Everyone can see if a new transaction is valid or not and can view every transaction from the genesis block forward, making provenance quick and reliable.

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

Databases are centralized and can be edited, rearranged, non-transparent etc.

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

Accounting and auditing become much easier and cheaper.

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#2561
  1. Every transaction can be traced and is viewable on The Ledger, no one can erase things from it.
  2. Normal databases rely on the integrity of the people involved in maintaining them, so you have to trust many people.
  3. It take auditing out of the equation and allows them to trace where their supply is coming from, also removes the need for trust from the equation. (This could be bad for some businesses as well, depending on how shady they are and whether they lose profit from consumers knowing where their products come from.)
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#2562

  1. Blockchain enables digital provenance by using a public ledger with multiple computers all over the world. Each of these computers has identical information to the others.

  2. A normal database is single copy that can be manipulated. It is not a public ledger.

  3. Digital provenance isn’t based on simply trusting another party. Digital provenance is easily verified
    in real time. It uses a public ledger.

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#2563

1- By making the blockchain visible to everyone and unchangeable forever assures provenance is possible

2- A normal database is susceptible to manipulation those that control the database has the most interest in corrupting it.

3- Digital provenance is changing the way quality and trust is being observed. I believe this will be transferred to the customer base, Keeping business honest and reassuring customers of product quality.

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