
Exploring Blockchain and Fintech Concepts
Authored by Shamim Ahmed
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University
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following best describes a cryptocurrency?
A physical coin used for online shopping
A digital or virtual currency that uses cryptography for security
A type of credit card issued by banks
A government-issued paper note
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the primary function of a blockchain in the context of cryptocurrencies?
To print physical money
To record and verify transactions in a secure, decentralised manner
To store passwords for online accounts
To manage email communications
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is a key feature of smart contracts?
They require manual approval for every transaction
They are self-executing agreements with the terms directly written into code
They are only valid in the United Kingdom
They can only be used for buying property
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What does DeFi stand for in the context of blockchain and fintech?
Decentralised Finance
Defined Financials
Digital Funds
Deferred Income
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following is NOT a benefit of decentralised finance (DeFi)?
Increased accessibility to financial services
Reduced reliance on traditional banks
Transactions are always reversible
Lower transaction fees
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
How has blockchain technology impacted traditional banking?
By making all bank branches obsolete overnight
By enabling faster and more secure cross-border payments
By increasing the use of cheques
By eliminating the need for customer identification
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following best explains the term "mining" in the context of cryptocurrencies?
Digging for precious metals underground
The process of validating and adding transactions to the blockchain
Printing new banknotes
Sending emails to users
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