ITA203c

If there is a failure of IT governance, it is likely that:

• The board needs new directors with superior IT competence

• The CIO/CTO may be replaced

• Both a and b

The CIO most commonly reports to the_____________________.

• CEO

• CFO

Business/IT Relationship Managers are used to?

• Make IT architecture decisions

• Define business process requirements

• Make IT investment decisions

• All of the above

Informational systems are about?

• Providing aggregated information for decision making.

• Performing core business processes of the firm cost effectively.

• Providing customers with a differentiated service.

• All of the above.

Which of the following statements is true?

• Cheap land, cheap electricity, and easy access to advanced hardware vendors for customization are beneficial for blockchain mining.

• As applications of Blockchains continue to grow, the energy consumption for the computation will be a key factor for enterprises to consider.

• Smaller scale permissioned blockchain that limit participation to trusted miners can reduce computational overhead and energy needs.

• All

Suppose multiple stakeholders in a supply chain need to update some records in a dynamic manner but they all want verifiability and immutability of the data. What technology option should you use?

• Traditional Database

• Blockchain

Suppose your organization has data needs to be secured and stored centrally. What technology option should you use?

• Traditional Database

• Blockchain

Which of the following is true for smart contracts?

• They are software code outlining contracts associated with transactions, which remain unaltered, accessible and publicly verifiable for the blockchain's lifespan.

• Smart contracts often interface with external applications that reside outside the blockchain

• Smart contracts can be used for peer-to-peer transactions, e.g., smart electricity grid, ridesharing services, etc

• All of the above

In the context of the irreversibility of blockchains, which of the following statement is NOT true?

• The process of adding blocks to a blockchain is such that it is very expensive - in terms of computational power, and hence, electricity - to add new blocks and even more so to change blocks further back in the chain.

• Any miner trying to add a new block of data is required to provide a cryptographic proof called Proof of Work.

• To produce the Proof of Work, a miner will have to perform multiple rounds of hashing with the data of the previous block such that the resultant hash value begins with a specified number of zeros.

• A miner predicts what hash values will be produced and adjusts the data used in the hashing process.

Which of the following statements about the steps of Bitcoin mining is NOT true?

• Bitcoin miners scoop up a whole bunch of transaction requests that they process

• Bitcoin miners check to ensure that the digital signatures are valid and that there are enough bitcoins in the wallet for a valid transaction.

• Miners compete globally to produce blocks of validated transactions. The first miner to produce a valid block of transactions earns bitcoins and their block is added to end of the blockchain.

• All the miners participated in mining will get an equal share of the bitcoins for participating in the computation process.