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Blockchain Application for business > ALL QUIZZES > Flashcards

ALL QUIZZES Flashcards

1
Q

Virtual currencies can be considered as fiat money.

Select one:
True
False

A

FALSE

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2
Q

Some organizations dealing with the regulation or issues of virtual currencies are:

Select one or more:

a.
WHO

b.
United Nations

c.
European Court Justice Ruling

d.
G20

A

B, C AND D

The correct answers are: G20, United Nations, European Court Justice Ruling

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3
Q

According to the European Court Justice Ruling, virtual currencies are not tangible property.

Select one:
True
False

A

TRUE

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4
Q

The function of the E.U. Blockchain Observatory and Forum is to…

Select one or more:

a.
fund blockchain developments

b.
consolidate expertise

c.
monitor projects

d.
cooperate with existing EU states’ and businesses’ initiatives

A

B AND D

The correct answers are: consolidate expertise, cooperate with existing EU states’ and businesses’ initiatives

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5
Q

Due to which factors are virtual currencies adopted by criminal elements?

Select one or more:

a.
Easy traceability

b.
Anonymity

c.
Transparency

d.
Missing of law enforcement regulations

A

B AND D

The correct answers are: Anonymity, Missing of law enforcement regulations

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6
Q

Virtual currencies are nearly impossible to trace.

Select one:
True
False

A

TRUE

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7
Q

An advantage of considering virtual currencies as money is…

Select one or more:

a.
the broad acceptance within retail

b.
the avoidance of credit fees to merchants

c.
the avoidance of third parties

d.
the volatility of virtual currencies

A

B AND C

The correct answers are: the avoidance of credit fees to merchants, the avoidance of third parties

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8
Q

Which of the following is/are (an) issue(s) of virtual currencies affecting investors and consumers?

Select one or more:

a.
High traceability

b.
Displacement of national currencies

c.
Potential fraud

d.
Tax aspects

A

B, C AND D

The correct answers are: Displacement of national currencies, Tax aspects, Potential fraud

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9
Q

The downsides of smart contracts include:

Select one or more:

a.
the lack of verifiability

b.
privacy and transparency concerns

c.
the need for continuous updates

d.
its self-executing mechanism

A

B AND C

The correct answers are: privacy and transparency concerns, the need for continuous updates

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10
Q

According to ESMA, risks of DLT to securities markets within the EU consist of:

Select one or more:

a.
technological issues

b.
regulatory and legal issues

c.
the counterparty risk

d.
costs

A

A AND B

The correct answers are: regulatory and legal issues, technological issues

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11
Q

Blockchain technology is tamper-proof due to the required consensus and centralized storage of data.

Select one:
True
False

A

FALSE

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12
Q

Blockchain technology does not allow for pseudonymized transparency.

Select one:
True
False

A

FALSE

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13
Q

The Blockchain…

Select one or more:

a.
is controlled by one single institution

b.
is not controlled by one single institution

c.
consists of a network of equal partners

d.
is a centralized database

A

B AND C

The correct answers are: is not controlled by one single institution, consists of a network of equal partners

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14
Q

Consensus mechanisms on the blockchain are…

Select one or more:

a.
Proof of Work

b.
Proof of Citizenship

c.
Proof of Authority

d.
Proof of Austerity

A

A AND C

The correct answers are: Proof of Work, Proof of Authority

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15
Q

Consensus mechanisms on the blockchain are…

Select one or more:

a.
Proof of Authority

b.
Proof of Stake

c.
Proof of Steak

d.
Proof of Work

A

A, B AND D

The correct answers are: Proof of Work, Proof of Authority, Proof of Stake

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16
Q

In a blockchain network, a copy of all transaction is stored on all machines.

Select one:
True
False

A

TRUE

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17
Q

The Blockchain…

Select one or more:

a.
is controlled by one single institution

b.
is a distributed database

c.
is not controlled by one single institution

d.
consists of a hierarchical network of participants

A

B AND C

The correct answers are: is not controlled by one single institution, is a distributed database

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18
Q

Blockchain technology strives to promote trust within a network of different participants that do not necessarily trust each other.

Select one:
True
False

A

TRUE

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19
Q

When it comes to blockchain technology, trust occurs, amongst others, due to an unchangeable, immutable transactional record.

Select one:
True
False

A

TRUE

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20
Q

Blockchain-Technology…

Select one or more:

a.
supports digital trust within a network of participants

b.
allows pseudonymized transparency

c.
is tamper-proof

d.
requires an intermediary

A

A, B AND C
The correct answers are: supports digital trust within a network of participants, allows pseudonymized transparency, is tamper-proof

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21
Q

The benefits of IoT are:

Select one or more:

a.
cost saving

b.
privatization of public companies

c.
improving performance based on the data provided by the IoT devices

d.
enabling businesses to make vital decisions

A

A, C AND D
cost saving, improving performance based on the data provided by the IoT devices, enabling businesses to make vital decisions

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22
Q

A five-layer model can be used to describe IoT, which contains:

Select one or more:

a.
Network Layer

b.
Application Layer

c.
Communication Layer

d.
Sensing Layer

A

A AND B

The correct answers are: Application Layer, Network Layer

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23
Q

IoT can be defined as a network of computationally intelligent physical objects…

Select one or more:

a.
that are collecting relevant data

b.
that are capable of connecting to the blockchain

c.
that are sensing real-world events or environments

d.
that are communicating new information over the internet

A

A, C AND D
The correct answers are: that are sensing real-world events or environments, that are collecting relevant data, that are communicating new information over the internet

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24
Q

The four functions performed by an IoT device are:

Select one or more:

a.
Collecting

b.
Contrasting

c.
Sensing

d.
Sending

A

C AND D

The correct answers are: Sensing, Collecting

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25
Q

Blockchain-based IoT can also thwart denial of service attacks where hackers can target a centralized server or data center more efficiently.

Select one:
True
False

A

TRUE

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26
Q

IoT is short for Internet of Things.

Select one:
True
False

A

TRUE

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27
Q

Basic concepts of an IoT device are:

Select one or more:

a.
Smart people

b.
Smart homes

c.
Smart cities

d.
Smart connected cars

A

B, C AND D

The correct answers are: Smart homes, Smart connected cars, Smart cities

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28
Q

Benefits that blockchain can bring to the IoT are:

Select one or more:

a.
Decreasing the scalability of business processes

b.
Reduction of costs

c.
Aspect of centralization

d.
Accelerating transactions

A

B AND D

The correct answers are: Reduction of costs, Accelerating transactions

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29
Q

KYC is short for Know Your Consensus.

Select one:
True
False

A

FALSE

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30
Q

The IoT Architecture consists of:

Select one or more:

a.
Cloud Services

b.
Things

c.
Edge Network

d.
Intranet

A

A, B AND C

The correct answers are: Things, Cloud Services, Edge Network

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31
Q

The four phases of the Industry 4.0 include…

Select one or more:

a.
Decentralization

b.
Mass production

c.
Computer and automation

d.
Mechanization

A

B, C AND D

The correct answers are: Mechanization, Mass production, Computer and automation

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32
Q

GPS

Select one or more:

a.
can be used to provide coarse- grained location tracking of assets

b.
is easily lost under foliage

c.
is owned and operated by US Gov (USAF)

d.
is satellite based

A

B, C AND D

The correct answers are: is satellite based, is owned and operated by US Gov (USAF), is easily lost under foliage

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33
Q

IoT will provide value by…

Select one or more:

a.
developing new products and service offerings

b.
making service operations more efficient

c.
providing a solution for security issues

d.
improving manufacturing processes

A

A, B AND D
The correct answers are: developing new products and service offerings, improving manufacturing processes, making service operations more efficient

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34
Q

IoT will provide value through:

Select one or more:

a.
enabling new business models

b.
serving as the technology underlying Bitcoin

c.
making America great again

d.
developing new products and service offerings

A

A AND D

The correct answers are: enabling new business models, developing new products and service offerings

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35
Q

Blockchain is the same as a cryptocurrency.

Select one:
True
False

A

FALSE

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36
Q

The expected effects of the Cardossier on the used car market are:

Select one or more:

a.
generation of profit

b.
improvement of market value

c.
benefits for both buyers and sellers

d.
enhancement of government taxes on car sales

A

A, B AND C

The correct answers are: improvement of market value, benefits for both buyers and sellers, generation of profit

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37
Q

Open Public Blockchains are similar to the “Intranet” concept.

Select one:
True
False

A

FALSE

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38
Q

The value proposition of the Car Dossier includes…

Select one or more:

a.
Shared Governance

b.
Transcendence

c.
Trust by design

d.
Transparency

A

A, C AND D

The correct answers are: Transparency, Trust by design, Shared Governance

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39
Q

The Cardossier offers shared operational efficiency, enabling the automation of cross-company processes.

Select one:
True
False

A

TRUE

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40
Q

Managing the life cycle of a car with blockchain technology means…

Select one or more:

a.
preventing digitalization of the car-related ecosystem

b.
collecting all relevant information along the life cycle of a car

c.
creating transparent, trustworthy and verified car history reports

d.
allowing secure and reliable data exchange and ownership

A

B, C AND D
The correct answers are: collecting all relevant information along the life cycle of a car, creating transparent, trustworthy and verified car history reports, allowing secure and reliable data exchange and ownership

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41
Q

Utility tokens…

Select one or more:

a.
are designed as investments

b.
represent future access to a company’s product or service

c.
cannot be exempt from federal laws governing securities

d.
are also called user tokens or app coins

A

B AND D
The correct answers are:
are also called user tokens or app coins,
represent future access to a company’s product or service

42
Q

Blockchain is a technology that…

Select one or more:

a.
prevents double-spending

b.
incorporates immutability

c.
provides an encrypted file

d.
allows for copies of files

A

A, B AND C

The correct answers are: provides an encrypted file, prevents double-spending, incorporates immutability

43
Q

Which types of STO regulations exist in the USA?

Select one or more:

a.
Regulation A+

b.
Regulation D+

c.
Regulation D

d.
Regulation C

A

A AND C

The correct answers are: Regulation D, Regulation A+

44
Q

A utility token is the same as a security token.

Select one:
True
False

A

FALSE

45
Q

A security token may represent shares of company stock.

Select one:
True
False

A

TRUE

46
Q

Smart contracts involve…

Select one or more:

a.
a buyer

b.
a seller

c.
the risk of disputable ownership

d.
a middle-man

A

A AND B

The correct answers are: a buyer, a seller

47
Q

A “security” can be defined as…

Select one or more:

a.
an investment contract

b.
a financial instrument

c.
unexchangeable and unnegotiable

d.
a representation of ownership or rights to ownership

A

A, B AND D
The correct answers are:
an investment contract, a financial instrument,
a representation of ownership or rights to ownership

48
Q

A problem of STOs can be…

Select one or more:

a.
unclear regulatory framework for worldwide trading

b.
the lack of a business plan by STO companies

c.
the potential increase in demand for traditional illiquid assets

d.
the implementation of a single token protocol among different platforms

A

A AND D
The correct answers are: unclear regulatory framework for worldwide trading,
the implementation of a single token protocol among different platforms

49
Q

Security tokens are tokens…

Select one or more:

a.
that are expected to increase in value due to the efforts of others

b.
that can represent shares of company stock

c.
that are not designed as investments contracts

d.
that are subject to federal securities regulations

A

A, B AND D
that are expected to increase in value due to the efforts of others,
that are subject to federal securities regulations,
that can represent shares of company stock

50
Q

What does ICO stand for?

Select one or more:

a.
Initial Currency Offering

b.
Interpersonal Change Option

c.
Initial Coin Offering

d.
Infinite Coin Offering

A

C

51
Q

From the presale to the main sale of an ICO, the discount on the token is traditionally rising.

Select one:
True
False

A

FALSE

52
Q

Security Tokens are:

Select one or more:

a.
contracts that represent a value, but not stored in a blockchain

b.
never an asset

c.
a representation of a security investment contract

d.
not regulated by securities law

A

C

The correct answer is: a representation of a security investment contract

53
Q

What makes security tokens so promising?

Select one or more:

a.
Insurance

b.
Dividend guarantee

c.
Reissuance

d.
Transparency

A

A, C AND D
The correct answers are: Transparency, Insurance,
Reissuance

54
Q

Which legal tests can be used to define whether a token generating event is a STO?

Select one or more:

a.
Trump test

b.
Munchee test

c.
Reves test

d.
Johnson test

A

B AND C

The correct answers are: Reves test, Munchee test

55
Q

As ICO campaigns get closer to their hard caps, the FOMO (fear of missing out) decreases.

Select one:
True
False

A

FALSE

56
Q

A problem of STOs can be…

Select one or more:

a.
the implementation of a single token protocol among different platforms

b.
the potential increase in demand for traditional illiquid assets

c.
unclear regulatory framework for worldwide trading

d.
the lack of a business plan by STO companies

A

A AND C
The correct answers are: unclear regulatory framework for worldwide trading,
the implementation of a single token protocol among different platforms

57
Q

Problems of ICOs include…

Select one or more:

a.
the potential lack of data security

b.
low certainty about the future of the investors capital

c.
the lack of a business plan by ICO companies

d.
low regulatory barriers

A

A, B AND C
The correct answers are: low certainty about the future of the investors capital, the lack of a business plan by ICO companies, the potential lack of data security

58
Q

Security tokens are defined by their value separate from external factors & tradable opportunities.

Select one:
True
False

A

TRUE

59
Q

Digital currency firms only need approval for changes that are proposed to…

Select one or more:

a.
an existing service

b.
a new product

c.
an existing product

d.
an existing activity

A

A, C AND D

The correct answers are: an existing product, an existing service, an existing activity

60
Q

Blockchain technology offers many new solutions to track…

Select one or more:

a.
private data

b.
origin

c.
authenticity

d.
ownership

A

B, C AND D

The correct answers are: ownership, origin, authenticity

61
Q

Blockchain technology is widely discussed as a way to enhance the reliability of big data.

Select one:
True
False

A

TRUE

62
Q

Blockchain technology…

Select one or more:

a.
is being discussed as a way to enhance the reliability of big data

b.
requires an intermediary

c.
looked at as a way to solve the trust issue involved in sharing data between two or more parties that don’t have aligned incentives

d.
offers many new solutions

A

A, C AND D
The correct answers are: is being discussed as a way to enhance the reliability of big data, looked at as a way to solve the trust issue involved in sharing data between two or more parties that don’t have aligned incentives, offers many new solutions

63
Q

IBM’s blockchain network design framework consists of…

Select one or more:

a.
business value design

b.
technology design

c.
governance design

d.
incentive design

A

A, B AND C

The correct answers are: technology design, business value design, governance design

64
Q

In Cross-Industry Networks, collaboration is usually done with…

Select one or more:

a.
non-traditional partners

b.
local partners

c.
foreign partners

d.
traditional partners

A

A

The correct answer is: non-traditional partners

65
Q

In IBM’s blockchain benefits model, there are 4 steps. The first one is called “Elimination of token ecosystems”.

Select one:
True
False

A

FALSE

66
Q

What is/are not a key consideration(s) in IBM’s blockchain network design?

Select one or more:

a.
Do you have a design that is applicable to a specific market?

b.
Is every member based in the same country?

c.
Is there a specific incentive model in place for each member?

d.
Can you make sure that at least some of the components are centralized?

A

B AND D
The correct answers are: Can you make sure that at least some of the components are centralized?, Is every member based in the same country?

67
Q

There are different levels in IBM’s blockchain network design framework, for example:

Select one or more:

a.
extract

b.
establish

c.
exclude

d.
evolve

A

B AND D

The correct answers are: establish, evolve

68
Q

Businesses can get involved in a blockchain network by building an own blockchain solution and/or blockchain network.

Select one:
True
False

A

TRUE

69
Q

According to IBM, it makes sense to use blockchain for a business use case if…

Select one or more:

a.
a use case is cross-national

b.
there is no need for joint rules

c.
a use case involves only one company

d.
there is a need for consensus

A

D

The correct answer is: there is a need for consensus

70
Q

According to IBM, it makes sense to use blockchain for a business use case if a use case involves only one company.

Select one:
True
False

A

FALSE

71
Q

According to IBM, there is an opportunity to use blockchain to solve existing business problems if the use of blockchain…

Select one or more:

a.
results in costs

b.
helps reduce cost

c.
supports regulator compliance

d.
gives regulatory guidance

A

B AND C

The correct answers are: helps reduce cost, supports regulator compliance

72
Q

In the blockchain network design framework, governance design is one of the key components.

Select one:
True
False

A

TRUE

73
Q

Plasma is an Ethereum scaling solution to reduce on-chain data (similar to lightning network for bitcoin) by deploying a hierarchy of blockchains rooted in the main chain.

Select one:
True
False

A

TRUE

74
Q

Problems of “Proof of Work” include…

Select one or more:

a.
it is a computational arms race

b.
slow

c.
it is not green, e.g. results in huge electricity consumption

d.
threat of a 75% attack

A

A, B AND C

75
Q

Sharding is a proof of stake scheme that requires mining nodes to put up ETH as stake that they could lose upon bad behavior.

Select one:
True
False

A

FALSE

76
Q

Emerging alternatives to “Proof of Work” are…

Select one or more:

a.
Proof of Stake

b.
Proof of Space

c.
Proof of Share

d.
Proof of Room

A

A AND B

77
Q

Casper is a proof of stake scheme that requires mining nodes to put up ETH as stake that they could lose upon bad behavior.

Select one:
True
False

A

TRUE

78
Q

Disadvantages of distributed systems are:

Select one or more:

a.
Staff overhead

b.
Security issues

c.
Coordination overhead

d.
Higher program complexity

A

B, C AND D

79
Q

The two main types of software architecture are…

Select one or more:

a.
Distributed

b.
Peer-to-Peer

c.
Business-to-Business

d.
Centralized

A

A AND D

80
Q

The Blockchain can be considered as a tool for achieving and maintaining integrity in distributed systems.

Select one:
True
False

A

TRUE

81
Q

The architectural decision and the functional aspect of the application layer are dependent on each other.

Select one:
True
False

A

FALSE

82
Q

Every industry with a middleman is vulnerable to being replaced by peer-to-peer systems.

Select one:
True
False

A

TRUE

83
Q

Integrity threats in peer-to-peer systems are:

Select one or more:

a.
Dependency on smart contracts

b.
Technical failures

c.
Malicious peers

d.
Financial issues

A

B AND C

84
Q

Technical limitations of the blockchain are:

Select one or more:

a.
Lack of flexibility

b.
Lack of privacy

c.
Smart contracts

d.
Low costs

A

A AND B

The correct answers are: Lack of privacy, Lack of flexibility

85
Q

The distributed peer-to-peer system…

Select one or more:

a.
has no central point of coordination

b.
is a special kind of distributed system

c.
consists of different blockchains

d.
consists of individual computers

A

A, B AND D
The correct answers are: consists of individual computers, has no central point of coordination, is a special kind of distributed system

86
Q

Smart contracts…

Select one or more:

a.
are self-executing software programs

b.
are triggered by submissions of transactions

c.
are used by application developers to define functions in the form of a code

d.
are not supported by Ethereum

A

A, B AND C

87
Q

Solidity…

Select one or more:

a.
is the programming language for developing smart contracts

b.
is the blockchain on which smart contracts are run

c.
is a low-level language for implementing smart contracts

d.
is subject-oriented

A

A

88
Q

The Ethereum Platform…

Select one or more:

a.
offers the option to develop smart contracts using the language Solidity

b.
uses Proof of Work (PoW)

c.
is not very developer-friendly

d.
does not provide support for Smart Contracts

A

A AND B

89
Q

When it comes to transactions in Bitcoin, the sum of the inputs needs to be greater than the sum of the outputs.

Select one:
True
False

A

TRUE

90
Q

In the Bitcoin blockchain, nodes are constantly communicating with each other about …

Select one or more:

a.
what has already happened in the system before

b.
the true and valid reality of the system

c.
digital signatures

d.
rules

A

A, B AND D

91
Q

A person who receives Bitcoin needs to show to the world his or her public key.

Select one:
True
False

A

TRUE

92
Q

Satoshi Nakamoto, the author of the Bitcoin Whitepaper, is providing/ suggesting a solution to the following problems:

Select one or more:

a.
double spending problem

b.
decentralization of power

c.
need of an intermediary

d.
centralization of power

A

A, C AND D

93
Q

According to the Bitcoin Whitepaper, the four elements/ technologies that are crucial to achieve decentralization are:

Select one or more:

a.
blockchain

b.
consensus mechanism

c.
a centralized algorithm

d.
public key cryptography

A

A, B AND D

94
Q

Blockchain is the only element behind bitcoin to achieve decentralization.

Select one:
True
False

A

FALSE

95
Q

The network timestamps transactions by hashing them into an ongoing chain of hash-based…

Select one or more:

a.
digital ledger

b.
proof of stake

c.
proof of work

d.
blockchain

A

C

96
Q

What is/are characteristic(s) of public blockchains?

Select one or more:

a.
All users maintain a copy of the ledger

b.
It is controlled by a single entity

c.
Distributed consensus mechanism

d.
Anyone can participate

A

A, C AND D

97
Q

A distributed ledger…

Select one or more:

a.
stores records contiguously instead of sorting them into blocks

b.
always consists of blocks of transactions

c.
is always a blockchain

d.
is always public

A

A

98
Q

The ideal properties of cryptographic hash function include the following characteristics:

Select one or more:

a.
Privacy

b.
Low Collision

c.
Secure

d.
Deterministic

A

B, C AND D

99
Q

The ideal properties of cryptographic hash function include the following characteristics:

Select one or more:

a.
Discontinuous

b.
Fast

c.
Continuous

d.
Cost-effective

A

A AND B

100
Q

Distributed Ledger Technology is a type of immutable database to record transactions in chronological order (typically, in the form of a blockchain), that is…

Select one or more:

a.
synchronized

b.
centralized

c.
replicated

d.
shared

A

A, C AND D

Blockchain Application for business (14 decks)

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