TED: How the blockchain will radically transform the economy | Bettina Warburg

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Information Technology (IT), Architecture, Business
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11th Grade - University
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Hard
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What role do institutions play in economic systems according to Douglass North?
They act as barriers to trade.
They lower uncertainty to facilitate trade.
They increase uncertainty in trade.
They replace traditional trade methods.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How does blockchain technology fundamentally differ from traditional institutions?
It centralizes data storage.
It relies on a single authority.
It is only applicable to digital currencies.
It uses a decentralized network.
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In what way does blockchain enhance transparency in transactions?
By limiting access to transaction history.
By requiring third-party verification.
By providing a shared, immutable record.
By hiding transaction details.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is one of the key uncertainties that blockchain can address in transactions?
The identity of the parties involved.
The location of the parties involved.
The cost of transactions.
The speed of transactions.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How can blockchain technology impact contract enforcement?
By eliminating the need for contracts.
By requiring manual enforcement.
By automating contract execution.
By increasing the cost of enforcement.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a potential benefit of blockchain in economic systems?
It automates and decentralizes processes.
It requires more human intervention.
It increases transaction costs.
It centralizes control.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is a major challenge facing blockchain technology today?
It is only applicable to financial institutions.
It is fully developed and widely adopted.
It lacks potential use cases.
It is still in its infancy and requires experimentation.
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