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What is one key difference between public and private blockchains?
What is one key difference between public and private blockchains?
- Public blockchains restrict access to known entities, while private blockchains allow anyone to participate
- Public blockchains prioritize confidentiality, while private blockchains offer transparency
- Public blockchains offer transparency, while private blockchains prioritize confidentiality
- Public blockchains allow anyone to participate, while private blockchains restrict access to known entities (correct)
What does the permission framework help assess in financial accounting?
What does the permission framework help assess in financial accounting?
- The need for openness versus controlled access (correct)
- The trade-off between security and privacy
- The importance of data privacy against transparency
- The level of data encryption required
What is the trade-off between security and privacy in public and private blockchains?
What is the trade-off between security and privacy in public and private blockchains?
- Public blockchains prioritize confidentiality but may lack transparency, while private blockchains offer transparency but may compromise sensitive financial data
- Public blockchains and private blockchains both offer transparency
- Public blockchains and private blockchains both prioritize confidentiality
- Public blockchains offer transparency but may compromise sensitive financial data, while private blockchains prioritize confidentiality but may lack transparency (correct)
What does the security & privacy framework help weigh in financial accounting?
What does the security & privacy framework help weigh in financial accounting?
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What is one of the benefits of Blockchain technology mentioned in the text?
What is one of the benefits of Blockchain technology mentioned in the text?
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What impact does Blockchain have on transaction efficiency according to the text?
What impact does Blockchain have on transaction efficiency according to the text?
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What does Blockchain technology open up possibilities for, according to the text?
What does Blockchain technology open up possibilities for, according to the text?
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