MML201- 2

Centralized finance is:

• Traditional system

• Modern system

Centralized finance is controlled by a single authority like a bank or government agency.

• True

• False

Centralized banks can be unreliable.

• True

• False

In centralized finance, a customer can even be charged fees for customer support services.

• True

• False

With centralized banks, transactions can take a long time.

• True

• False

Skilled hackers and engineers can hack web portals and mobile banking apps.

• True

• False

In centralized finance, people can end up losing money from their accounts.

• True

• False