Electronic Payment Systems & Cryptocurrency Reflection

What are some examples of electronic payment systems?

• In-store reservation, online bill payment, in-store order placing

• Online reservation, online bill payment, online order placing

• In-store reservation, in-store bill payment, in-store order placing

• Online reservation, in-store bill payment, online order placing

What were the obstacles that restricted trade in medieval ages?

• Harmonious local laws and customs, nonconvertible currencies

• Compatible local laws and customs, convertible currencies

• Conflicting local laws and customs, incompatible and nonconvertible currencies

• Conflicting local laws and customs, convertible currencies

What are the three broad categories into which EFT can be segmented?

• Banking and financial payments, online retailing payments, online electronic commerce payments

• Banking and financial payments, retailing payments, in-store electronic commerce payments

• Banking and financial payments, retailing payments, offline electronic commerce payments

• Banking and financial payments, retailing payments, online electronic commerce payments

What are the three types of electronic tokens?

• Cash or Prepaid, Debit or Real-time, Credit or Postpaid

• Cash or Real-time, Debit or Prepaid, Credit or Postpaid

• Cash or Real-time, Debit or Postpaid, Credit or Prepaid

• Cash or Postpaid, Debit or Real-time, Credit or Prepaid

What are the four properties of electronic cash?

• Monetary value, Retrievability, Security, Anonymity

• Monetary value, Interoperability, Retrievability, Security

• Monetary value, Interoperability, Retrievability, Anonymity

• Monetary value, Interoperability, Security, Anonymity

What is the purpose of the blinding factor in electronic cash?

• To obscure the digital signature from the bank

• To obscure the original note number from the currency server

• To obscure the digital signature from the currency server

• To obscure the original note number from the bank

What is the process of adding transaction records to the public accounting book of past transactions or block chain called?

• Mining

• Cryptography

• Double Spend

• Blockchain

What is the main advantage of smart cards?

• Portable, Store more information, Low cost to issuers and users

• Not easily duplicated, Less space required, More security

• Store more information, Not easily duplicated, Less space required

• Portable, Low cost to issuers and users, More security

What is the process of making computer hardware do mathematical calculations for the Bitcoin network to confirm transactions and increase security called?

• Mining

• Blockchain

• Double Spend

• Cryptography

What is the main advantage of cryptocurrency?

• Creates float and easier acceptance of financial risk

• Allows users to send exactly what they want without involvement of third party

• Provides universal standards for design and utilization

• Enables easy tracking of consumer behavior and development of promotional programs