Blockchain Day1

Blockchain is:

• a. A record keeping system.

• b. An event tracking system.

• c. A workflow platform.

  d. a and b

• d. a and b

• e. All of the above.

Double-entry accounting is:

• a. A method for tracking information

• b. A record for tracking debits and credits

• c. A record for tracking debits, credits, and an immutable link to all past debits and credits

• d. The ledger for an investor’s portfolio that includes the current price of their investment

Which statement is true about Blockchain:

• a. Changing the data on any block will result in a different hash

• b. A block is made up of 25 lines or records

• c. Chain refers to the program that physically links blocks together

Group Consensus is reached when how many members agree?

• a. 10%

• b. 51% or more

• c. 100%

• d. 49% or more

Blocks in Blockchain are “chained” together by:

• a. Adding a pointer in the ledger to the previous block.

• b. By taking a picture of the block being added with the block behind it.

• c. By embedding the genesis block into the header of the new block.

• d. By hashing the previous block and embedding that hash into the new block’s header.

Which of the following is a type of Blockchain transaction?

• a. Two or more parties, exchange of monetary value such as cryptocurrency.

• b. Two or more parties, but no exchange of monetary value such as updates to medical records.

• c. One party announcing an important event such as supply chain management, business process

  automation, creation/auditing of financial records.

• d. All of the above are a type of Blockchain transaction

A decentralized ledger acts as a trust broker, like a bank.

• a. True

• b. False

Blockchain was documented and released via a whitepaper by:

• a. Bill Gates

• b. Satoshi Takamoto

• c. Larry Ellison

• d. Satoshi Nakamoto

Blockchain is the same thing as Bitcoin.

• a. True

• b. False

Blockchain provides the same services as a traditional bank, except for:

• a. Taking deposits and issuing credits

• b. Acting as a trust broker in exchanges

• c. Decoupling possession and ownership

• d. Providing Certificates of Deposit