FinTech Flashcard

Front

Which of the following best describes the role of FinTech in the financial industry? Options: Replacing traditional financial institutions, Eliminating regulatory oversight in banking, Making financial services completely free

Back

Enhancing financial services through technology

Front

Which of these companies is NOT considered a FinTech firm? Stripe, Robinhood, Airbnb, Revolut

Back

Airbnb

Front

What is the primary advantage of FinTech compared to traditional financial services?

Back

It provides more accessible, faster, and cheaper financial solutions

Front

Which of the following FinTech innovations is most commonly associated with cross-border payments? NFC payments, Blockchain-based remittances, AI-driven financial planning, Robo-advisors

Back

Blockchain-based remittances

Front

What does "embedded finance" refer to?

Back

The integration of financial services into non-financial platforms

Front

Which of the following statements about blockchain technology is FALSE?
Blockchain transactions are immutable,
Public blockchains rely on consensus mechanisms,
Smart contracts can execute automatically,
Private blockchains are always more secure than public blockchains

Back

Private blockchains are always more secure than public blockchains

Front

What is the key difference between proof-of-work (PoW) and proof-of-stake (PoS) blockchains?

Back

PoW requires mining, while PoS selects validators based on stake.

Front

In the context of decentralized finance (DeFi), what is "yield farming"?

Back

A technique to maximize returns by moving crypto assets across liquidity pools

Front

Which major risk is associated with stablecoins?

Back

Lack of underlying asset backing

Front

What is the primary function of an oracle in blockchain-based smart contracts?

Back

To provide external real-world data to smart contracts