Quiz 1: Blockchain Basics

1.   Blockchain is a database that is?

  1.   Distributed
  2.   Secure
  3.   Transparent
  4.   All of the above

2.   Which of the following things can blockchain do?

  • Prove the infrastructure for web3, the internet of ownership and value
  • Increase transparency and transaction speeds
  • Reduce cost and risk for trade and moving assets
  • Streamline workflows by automating processes
  • Reduce cost and delays by replacing intermediaries
  • Drive economic inclusion by enabling anyone from anywhere in the world to participate
  1.   None of the Above
  2.   All of the above

3.   Blockchain is a great tool for money laundering.

  1.   True
  2.   False

4.   New York City is using blockchain for a microgrid project that enables New Yorkers to produce and share energy peer to peer.

  1.   True
  2.   False

5.   Walmart is using blockchain to better track food supply chains so that poor quality or dangerous products can be traced back to source and terminated.

  1.   True
  2.   False

6.   Farmers in emerging markets are using blockchain to create cooperatives to drive down the cost of credit and crop insurance.

  1.   True
  2.   False

7.   UPS is using blockchain to better monitor their supply chain from booking to final delivery.

  1.   True
  2.   False

8.   The State of Illinois is using blockchain to store birth, death, social security and voter registrations more securely.

  1.   True
  2.   False

9.   A token can represent:

  1.   A unit of currency
  2.   A share in a company
  3.   A pair of shoes
  4.   A crate of oranges
  5.   An identity card
  6.   A right to purchase computing power
  7.   Any and all of the above - and pretty much anything else you can think of

10.   What is the best approach to regulating tokens?

  1.   Treat them all the same
  2.   Treat them all as financial instruments
  3.   Treat them according to their essential nature and functions
  4.   Treat them as magical totems immune to regulation

11.   What is the best approach to regulating blockchain?

  1.   Regulate the technology
  2.   Regulate it by sector and/or use case
  3.   Don't regulate it at all
  4.   Allow the code to do all the regulation