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Fin315 > Crypto > Flashcards

Crypto Flashcards

1
Q

Crypto is a _______ based on the blockchain technology?

A

Decentralized digital money (ddg)

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2
Q

According to CoinLore, there are how many cryptocurrencies ?

A

More than 5000

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3
Q

Bitcoin was first outlined in principle by ___________ as __________?

A

Satoshi Nakamoto in 2008 as Bitcoin: A peer to peer electronic cash system

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4
Q

Nakamoto described bitcoin as __________?

A

An electronic payment based on cryptographic proof rather than trust

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5
Q

_______ verifies cryptographic proof in form of Trasanctions, on its program

A

Blockchain

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6
Q

What percentage of Money supply is digital in the Euro Area? And what percentage is in currency?

A

90% and 9.4%

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7
Q

What are the three basic functions of cryptocurrency?

A

store of wealth, means of payment and unit of account

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8
Q

Bitcoin rose from $1 to $50000 in what year?

A

2021

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9
Q

Is the acceptance of cryptocurrency globally high or low?

A

Neither. Very low

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10
Q

Changing Bitcoin to other currencies require how much gas fee?

A

1.49-10%

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11
Q

What are the three paradigms of the innovation of blockchain?

A

Mutual consensus verification, encryption and smart contracts

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12
Q

________ allows can users reveal information to a selective few as needed

A

Encryption

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13
Q

_____ are programs or codes uploaded to a ledger rather than basic passive data entries

A

Smart contracts

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14
Q

The smart chain codes or programs passed into the ledger are ________?

A

Immutable (unchangeable)

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15
Q

Hashed encrypted data sets are entered in the ledger to create?

A

Richer Dataset

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16
Q

What are the innovations that make up the blockchain?

A

Technological innovations, data efficiencies and benefits

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17
Q

Blockchain development is part of china’s _ 5 year plan?

A

13

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18
Q

___ out of how many china banks have adopted blockchain technology?

A

12 /26

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19
Q

JP Morgan’s Interbank Information Network is the firms ______________ powered by the blockchain technology

A

First scalable p2p network

20
Q

The bank of america currently has how many blockchain related patents?

A

82

21
Q

What global banking institutions have adopted the blockchain technology?

A

JP morgan chase, china, Bank of America, Goldman Sachs

22
Q

______ securities could enable new approaches to Financial Engineering?

A

Unbundled

23
Q

_________ are created as pre-programmed Smart Contracts

A

Derivatives

24
Q

Full meaning of CCP?

A

Central Counterparty Clearing House

25
Q

Disrupters in other industries like AirBnb and Uber have adopted what approach?

A

Ask first, seek forgiveness later

26
Q

Records are irrevocable once entered into a blockchain and amendments require changes to all subsequent blocks?

A

True

27
Q

CSD meaning?

A

Central Supplier Database

28
Q

What is KYC?

A

Know your customer

29
Q

Nigerians have traded nearly how much in bitcoin?

A

600m

30
Q

Bitcoin in Nigeria had its highest spike in Nigeria in what year? And how many percentage?

A

30% 2020

31
Q

The bank of North America served as a _________ to issue currency for the union

A

De facto central bank

32
Q

The first American bank was established in ? The name? To fund what war?

A

1780 Bank of Pennsylvania America Revolution War

33
Q

The bank of Pennsylvania was replaced by? Then that by?

A

bank of North America then First Bank of America

34
Q

The first Bank of America was owned by?

A

The government and private stakeholders

35
Q

The Second Bank of America brought about the free banking era in?

A

1837

36
Q

The National Banking Act was replaced in ? By?

A

1913 Federal Reserve Act

37
Q

The two most popular banking systems are?

A

Unit banking and branch banking

38
Q

Commercial banks in the United States are classified into 2? Namely?

A

Federal Chartered Banks and States Chartered banks

39
Q

What bank is insured by Federal Deposit Insurance Corporation and has membership of Federal Reserve

A

Federal chartered Banks

40
Q

Commercial banks in the us control how many percent of household savings and term deposits?

A

40%

41
Q

_______ are non profit banking institutions that act as cooperative bank to their customers?

A

Credit unions

42
Q

Classification of saving institutions in Nigeria?

A

Savings and loans association, credit unions and Mutual Savings Banks

43
Q

Banking in America is regulated at the federal and state level

A

True

44
Q

Banks in the USA are supervised by ?

A

Bank examiners

45
Q

How many bodies make up the federal reserve system ?

A

6

Fin315 (4 decks)

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