1. Which enterprise application of blockchain focuses on ensuring the legitimacy of transactions across different countries?
a) Know Your Customer (KYC)
b) Food Security
c) Cross border payments
d) Mortgage over Blockchain
Answer: c) Cross border payments
Explanation: Cross border payments involve transferring funds or assets between different countries. Blockchain technology can be applied to enhance the transparency, security, and efficiency of such transactions by eliminating intermediaries and providing a tamper-proof record of transactions.
2. Which enterprise application of blockchain aims to verify the authenticity of individuals or entities engaging in financial activities?
a) Supply Chain Financing
b) Identity on Blockchain
c) Block chain enabled Trade
d) We Trade – Trade Finance Network
Answer: b) Identity on Blockchain
Explanation: Identity on blockchain involves securely storing and managing digital identities, which can be used to streamline processes such as Know Your Customer (KYC) checks in financial transactions.
3. Which blockchain application focuses on ensuring the safety and traceability of food products from farm to table?
a) Cross border payments
b) Food Security
c) Trade Finance Network
d) Mortgage over Blockchain
Answer: b) Food Security
Explanation: Food security on blockchain involves using the technology to track and trace the journey of food products throughout the supply chain, thereby enhancing food safety and transparency.
4. In which enterprise application of blockchain would one typically find the concept of smart contracts being utilized?
a) Mortgage over Blockchain
b) Identity on Blockchain
c) Trade Finance Network
d) Supply Chain Financing
Answer: a) Mortgage over Blockchain
Explanation: Mortgage over blockchain often involves the use of smart contracts, which are self-executing contracts with the terms of the agreement directly written into code. These contracts can automate and enforce the terms of the mortgage agreement.
5. Which blockchain application focuses on providing financial services to facilitate international trade transactions?
a) We Trade – Trade Finance Network
b) Supply Chain Financing
c) Food Security
d) Cross border payments
Answer: a) We Trade – Trade Finance Network
Explanation: We Trade – Trade Finance Network is an enterprise application of blockchain that aims to provide financial services tailored for facilitating international trade transactions, such as trade finance and supply chain financing.
6. In the context of blockchain-enabled trade, what does KYC stand for?
a) Know Your Company
b) Know Your Customer
c) Keep Your Cryptocurrency
d) Key Yield Calculation
Answer: b) Know Your Customer
Explanation: Know Your Customer (KYC) is a process used by businesses to verify the identity of their clients, typically before providing them with services.
7. Which blockchain application focuses on providing financing solutions for various stages of the supply chain process?
a) Trade Finance Network
b) Food Security
c) Mortgage over Blockchain
d) Supply Chain Financing
Answer: d) Supply Chain Financing
Explanation: Supply Chain Financing involves using blockchain technology to provide financing solutions for various stages of the supply chain process, such as inventory financing and invoice factoring.
8. Which enterprise application of blockchain aims to digitize and automate the trade finance processes?
a) Mortgage over Blockchain
b) Identity on Blockchain
c) We Trade – Trade Finance Network
d) Food Security
Answer: c) We Trade – Trade Finance Network
Explanation: We Trade – Trade Finance Network focuses on digitizing and automating trade finance processes, such as letter of credit issuance and trade settlement, using blockchain technology.
9. Which blockchain application focuses on improving transparency and trust in mortgage-related transactions?
a) Supply Chain Financing
b) Mortgage over Blockchain
c) Identity on Blockchain
d) Food Security
Answer: b) Mortgage over Blockchain
Explanation: Mortgage over Blockchain aims to improve transparency and trust in mortgage-related transactions by recording mortgage contracts and related information on a blockchain, ensuring immutability and transparency.
10. What does the term “Trade Finance Network” typically refer to in the context of blockchain applications?
a) A network of traders exchanging cryptocurrencies
b) A platform for securing food supply chains
c) A network for facilitating international trade finance
d) A decentralized identity verification system
Answer: c) A network for facilitating international trade finance
Explanation: Trade Finance Network refers to a blockchain-based network designed to facilitate international trade finance by providing services such as trade finance, supply chain financing, and trade settlement.