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The Digital and Decentralized Future of Capitalism Flashcards | StudBud
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The Digital and Decentralized Future of Capitalism
The Digital and Decentralized Future of Capitalism
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17 Questions
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Answers
1
What are Central Bank Digital Currencies (CBDCs)?
Digital currencies managed by commercial banks for everyday transactions.
Digital wallets provided by commercial banks for mobile banking.
Cryptocurrencies issued by central banks for cross-border transactions.
Digital representations of a country's official currency.
2
What is a cryptocurrency? (Be creative - More than 1 answer!)
Bitcoin that can be used for digital transactions.
A native token fueling a blockchain.
A way for finance bros to get rich quick.
A way for finance bros to lose all their money
3
Which of the following is NOT a potential way in which blockchain can help with data ownership?
Ensuring data immutability through distributed ledger technology.
Facilitating secure and auditable data storage across networks.
Enabling data deletion after it has been recorded on the blockchain.
Allowing individuals to have control over their personal data.
4
How long does an international wire transfer take?
6 to 7 business days
2 to 5 business days
7 business days
Less than 24 hours
5
“Rugpull” is a deceptive practice that lures investors into a seemingly legitimate project and embezzles their money.
False
It looks horrible, and I hope I won't be fooled one day.
Happy Easter
True
6
What is not an EFT?
Debit Card
Direct Deposit
ATM
Cheque
7
Which one is NOT one part of the interoperability trilemma?
Data Agnostic
Complexity
Extensible
Trustlessness
8
What does the SHA-256 algorithm do?
Scaling solution for Bitcoin
Creating Generative-AI LLM like ChatGPT
Cryptographic hashing function that can produce a hash output
A trading algorithm for Bitcoin
9
Is a centralized system (such as the one that currently exists) built on trust?
Yes
Maybe, but I don't trust it at all.
No
I like the weather today.
10
Cooperative economy is an economic system where…?
Private businesses are owned and controlled by a group of individuals.
Goods and services are produced and distributed based on supply and demand.
The government owns and controls the production of goods and services.
Individuals collectively own, operate, and benefit from a business.
11
Where is Analie, the girl from our story in intro, originally from?
Malaysia
Philippines
Indonesia
Vietnam
12
What is not a main benefit that blockchain architectures aim to offer?
Security
Transparency
Scalability
Cost-Efficiency
13
What type of mindset is most needed for the digitalized future?
Complacent mindset that relies on current skills and knowledge.
Reactive mindset that adapts to changes when it is needed.
Proactive mindset that actively seeks out new opportunities.
Skeptical mindset that questions the value and impact of digitalization.
14
How can blockchain technology be applied in the media industry?
All of the above.
Facilitating micropayments and monetization of digital content.
Enhancing cybersecurity and protecting against content piracy.
Enabling transparent and decentralized distribution of digital media.
15
What is a blockchain?
A public ledger
A Minecraft weapon
A cryptocurrency wallet
A payment tool
16
What is NOT one of the core benefits/reasons to incentivize the participation of miners under PoW?
Ensuring nodes are not malicious (Attack Prevention)
Validating transactions and maintaining the network
Attracting more gold miners to mine bitcoin instead
Efficient bitcoin release and distribution into circulation
17
How many transactions are targeted for wire fraud?
1 in 4
1 in 2
1 in 3
1 in 5
