Blockchain in Banking Masterclass Assessment – 1

Please complete the following evaluation assessment of the Blockchain in Banking Masterclass. This assessment consists of 25 questions. You have three (3) chances to take the test and are required to attain a score of 70% or higher to complete the requirements for the Blockchain in Banking Masterclass course.

HINT: You may get different questions each time you do the test, and the correct answers are shown after each question, to help you.

Good Luck!
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1. What type of blockchain has the least restrictions on who may access it?

 
 
 
 

2. Once a record is successfully lodged on a blockchain, can that record be altered? (Select the two applicable answers)

 
 
 
 

3. Which arguments may be used to convince a Bank to implement a Private blockchain instead of a Public blockchain?

 
 
 
 

4. What is meant by a blockchain “Proof of Stake”?

 
 
 
 

5. What term is used to describe the way that blockchain are organised in a distributed architecture?

 
 
 
 

6. Which statements apply to the notion of ‘Immutability’ when used in conjunction with blockchain? (more than one answer applies)

 
 
 
 

7. The first step to implementing a blockchain project starts _______

 
 
 
 

8. It is extremely difficult to tamper with or alter data, once it has been committed to the blockchain because _____

 
 
 
 

9. ___________ is the technology that makes Bitcoin unique

 
 
 
 

10. The primary benefit to a Bank of having ‘Immutable’ records is ______

 
 
 
 

11. A private blockchain allows entry to only selected participants; the blockchain operator has the rights to override edit or delete the necessary entries on the blockchain.

 
 

12. Which of the following examples would you consider to be successful implementations of blockchain? (All the examples below are real-world examples)

 
 
 
 

13. Which statement best describes how blockchain works?

 
 
 
 

14. In blockchain, ‘Nodes’ are an important component part of each blockchain network. What is a Node?

 
 
 
 

15. Ripple’ has been adopted by many banks around the world, where it acts as both Cryptocurrency and a Digital Payment Network for cross-border Financial transactions. Which two features are proprietary to Ripple Networks?

 
 
 
 

16. Peer-to-peer blockchain networks have centralized points of vulnerability that computer hackers can exploit

 
 

17. True or False: Each block on a blockchain network can never have more than one parent block

 
 

18. Which word below describes the permanent, tamper-proof nature of a blockchain record or set of records?

 
 
 
 

19. Which two statements best describes the two basic features of blockchain?

 
 
 
 

20. The start of a successful blockchain project begins __________

 
 
 
 

21. True or False; The terms ‘Blockchain’ and ‘Bitcoin’ can be used interchangably as they mean the same thing

 
 
 
 

22. Is it possible to program a blockchain to record transactions automatically?

 
 
 
 

23. What is the process of issuing or minting new Digital Currencies popularly known as?

 
 
 
 

24. What is the first consideration when commencing a blockchain project?

 
 
 
 

25. A ________ is used to hold or store the value of Digital Currency?

 
 
 
 


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