Chapter D1. Legal, Societal and Ecological Aspects of Blockchain Flashcards
Virtual currencies can be considered as fiat money.
Select one:
True
False
False
Some organizations dealing with the regulation or issues of virtual currencies are:
Select one or more:
a.
European Court Justice Ruling
b.
WHO
c.
United Nations
d.
G20
a, c and d
According to the European Court Justice Ruling, virtual currencies are not tangible property.
Select one:
True
False
true
The function of the E.U. Blockchain Observatory and Forum is to…
Select one or more:
a.
consolidate expertise
b.
cooperate with existing EU states’ and businesses’ initiatives
c.
monitor projects
d.
fund blockchain developments
all of them
An advantage of considering virtual currencies as money is…
Select one or more:
a.
the avoidance of credit fees to merchants
b.
the volatility of virtual currencies
c.
the broad acceptance within retail
d.
the avoidance of third parties
a and d
The downsides of smart contracts include:
Select one or more:
a.
privacy and transparency concerns
b.
the need for continuous updates
c.
the lack of verifiability
d.
its self-executing mechanism
a and b
Virtual currencies are nearly impossible to trace.
Select one:
True
False
true
Which of the following is/are (an) issue(s) of virtual currencies affecting investors and consumers?
Select one or more:
a.
Tax aspects
b.
Potential fraud
c.
Displacement of national currencies
d.
High traceability
a, b and c
According to ESMA, risks of DLT to securities markets within the EU consist of:
Select one or more:
a.
regulatory and legal issues
b.
the counterparty risk
c.
technological issues
d.
costs
*List others that may not be listed above.
a and c
( and also governance and privacy issues, key risks - cyber risks, fraud, money laundering, complexity of encryption techniques, uncertainty).
Due to which factors are virtual currencies adopted by criminal elements?
Select one or more:
a.
Transparency
b.
Missing of law enforcement regulations
c.
Easy traceability
d.
Anonymity
b and d
