18 Questions
What is the main difference between Blockchain and traditional databases?
Blockchain is a distributed ledger, while traditional databases are not.
What is the primary function of E-money?
To transfer monetary value equivalent to fiat currency electronically
What are the potential benefits of Virtual Currencies (VC's) for consumers?
Remittances & wire transfers
Which digital currency was introduced in 2014?
Cardano
What makes VC transactions different from traditional banking transactions?
VC transactions are immediate and irreversible
What is the key characteristic of E-money in terms of conversion?
E-money is convertible to fiat currency through licensed e-money issuers
Which term refers to the new generation of fully digital banking services that aim to be more accessible than traditional banks?
Neobank
What is the distinguishing feature of Virtual Currency (VC) compared to traditional currencies?
Decentralized and not guaranteed by central authorities
What technology is used in Cryptocurrency to carry out transactions in a decentralized manner?
Blockchain and cryptography
What is the main way Virtual Currencies (VCs) can be exchanged with actual cash (fiat money)?
Through people/companies within the user community
Which type of digital wallet is commonly used for storing Virtual Currencies (VCs)?
Mobile wallet apps
What term is used for a type of digital currency created by a community of online users and not guaranteed by central authorities?
Cryptocurrency
What technology allows two devices to process contactless payments using sound waves?
SWB
Which technology involves emitting a magnetic signal to imitate a credit card's magnetic strip for secure payments?
MST
What method uses time-limited token numbers to process specific transactions in mobile wallets?
Tokenization
Which technology stores payment information on a mobile device usually in an app?
Mobile/digital wallet
Which technology uses matrix barcodes readable by smartphones to enhance security in payments?
QR Codes
What type of technology confirms the phone owner's identity as the card owner for increased security?
QR Codes
Learn about the differences between blockchain technology and fiat currency. Understand the concepts of digital ledger technology and distributed ledgers in the context of cryptocurrencies and traditional currencies.
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