The $50 Trillion Industry Making a Huge Bet on Blockchain

The $50 Trillion Industry Making a Huge Bet on Blockchain

Assessment

Interactive Video

Business

University

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

The video discusses the complexities of global supply chains and the potential of blockchain technology to enhance transparency and efficiency. It explains how blockchain can trace product origins, reduce fraud, and empower smallholder farmers by providing them with economic passports. The video also covers the adoption of blockchain by major companies and the role of smart contracts in automating transactions. Despite its benefits, blockchain faces challenges such as data quality and high costs, but consumer demand for transparency may drive its future adoption.

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is one of the main inefficiencies in current global supply chains?

Over-reliance on digital records

Lack of skilled labor

Dependence on paper-based records

Excessive use of blockchain technology

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How can blockchain benefit smallholder farmers in the supply chain?

By reducing the quality of their produce

By eliminating the need for middlemen

By providing a digital receipt and building trust

By increasing the cost of transactions

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the primary difference between blockchain and Bitcoin?

Blockchain is a type of cryptocurrency

Bitcoin is a decentralized ledger

Bitcoin is a type of blockchain technology

Blockchain is used only for financial transactions

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What makes blockchain more resistant to tampering compared to digital databases?

Its centralized nature

The use of a single copy of data

The sheer number of data copies

The involvement of government bodies

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How does blockchain add operational efficiency to supply chains?

By increasing the number of intermediaries

By automating data tracking through sensors and tags

By reducing the number of transactions

By eliminating the need for digital records

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which industry is using blockchain to ensure products are not counterfeit?

Automotive

Fashion

Agriculture

Pharmaceutical

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is a smart contract in the context of blockchain?

A legally binding agreement

A manual process for verifying transactions

A computer program that self-executes under certain conditions

An AI-driven decision-making tool

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