Blockchain

Blockchain technology was invented in which year?

• 2020

• 2015

• 2010

• 2008

What is the primary example of digital currency associated with blockchain technology?

• Ripple

• Litecoin

• Bitcoin

• Ethereum

What is the purpose of each block in a blockchain?

• Play online games

• Display advertisements

• Contain computer code with information

• Store personal messages

What is the main advantage of using blockchain technology for financial transactions?

• Limited accessibility

• No digital signatures

• Increased security and audit trail

• Slower and more expensive transactions

How does blockchain technology ensure tamper-proof transactions?

• By allowing unlimited changes

• By linking blocks together cryptographically

• By keeping transactions offline

• By using physical signatures

What is the purpose of a distributed ledger in blockchain technology?

• To slow down transactions

• To increase cyber attacks

• To reduce transparency

• To eliminate the need for middlemen

What is the potential application of distributed ledgers within government?

• Reduce efficiency

• Limit access to information

• Increase bureaucracy

• Revolutionize public services

How does blockchain technology impact asset transfer?

• Reduces financial services

• Slows down asset movement

• Increases data security

• Limits ownership rights

What is the significance of blockchain technology compared to the development of the internet?

• Less important

• Equally significant

• More important

• Irrelevant

What is the purpose of using blockchain technology for small scale farmers?

• To increase costs

• To guarantee a supply chain

• To reduce economies of scale

• To complicate supply chains