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Questions and Answers
Which of the following is a key benefit of blockchain in financial services?
Which of the following is a key benefit of blockchain in financial services?
- Slower transaction times
- Enhanced transparency and security (correct)
- Higher transaction costs
- Increased paper usage
What is Decentralized Finance (DeFi)?
What is Decentralized Finance (DeFi)?
- A type of blockchain consensus mechanism
- A cryptocurrency exchange platform
- A traditional banking system
- Financial services using blockchain technology without intermediaries (correct)
IBM Food Trust uses blockchain technology to:
IBM Food Trust uses blockchain technology to:
- Increase the price of food products
- Store financial transactions
- Reduce employee wages
- Track food products from farm to table (correct)
How does blockchain improve supply chain management?
How does blockchain improve supply chain management?
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Which blockchain platform is known for enabling secure, mobile voting?
Which blockchain platform is known for enabling secure, mobile voting?
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What does NFT stand for?
What does NFT stand for?
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In which industry is blockchain used to enhance data security and patient privacy?
In which industry is blockchain used to enhance data security and patient privacy?
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What is one of the main challenges faced by blockchain technology?
What is one of the main challenges faced by blockchain technology?
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Which of the following is a real-world example of a DeFi platform?
Which of the following is a real-world example of a DeFi platform?
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What is the primary function of smart contracts in blockchain technology?
What is the primary function of smart contracts in blockchain technology?
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