Blockchain Technology Use Cases 2 — Questions and Answers
Question 1: Which blockchain use case enables patients to control access to their medical records across different healthcare providers?
- Decentralized health data exchange (Correct answer)
- Centralized hospital EHR system
- Insurance claim automation only
- Pharmaceutical inventory tracking
Correct answer: Decentralized health data exchange
Decentralized health data exchange on blockchain lets patients grant and revoke provider access to their records via cryptographic keys.
Question 2: How does blockchain improve cross-border payment settlement compared to traditional SWIFT transfers?
- It requires more intermediary banks
- It settles transactions in minutes with lower fees (Correct answer)
- It only works within a single country
- It increases currency conversion costs
Correct answer: It settles transactions in minutes with lower fees
Blockchain-based cross-border payments bypass correspondent banks, settling in minutes at a fraction of traditional wire transfer costs.
Question 3: A music streaming platform uses blockchain to automate royalty payments. What triggers the payment in this smart contract model?
- A monthly manual audit by accountants
- Each verified stream or download event (Correct answer)
- Annual copyright renewal filings
- Label executive approval
Correct answer: Each verified stream or download event
Smart contracts can trigger micropayments to artists and rights holders automatically each time a verified stream event is recorded on-chain.
Question 4: In the context of decentralized identity, what is a 'self-sovereign identity' (SSI)?
- An identity issued and controlled solely by a government
- An identity the user owns and presents without relying on a central authority (Correct answer)
- A pseudonymous blockchain wallet address
- An identity stored only on a company's server
Correct answer: An identity the user owns and presents without relying on a central authority
SSI allows individuals to own their digital credentials and share them selectively without depending on a central identity provider.
Question 5: Which industry uses blockchain-based tokenization to fractionalize ownership of high-value assets like real estate or fine art?
- Mass transit
- Decentralized finance (DeFi) (Correct answer)
- Traditional savings accounts
- Municipal bond issuance only
Correct answer: Decentralized finance (DeFi)
DeFi platforms tokenize real-world assets, splitting ownership into digital tokens so smaller investors can hold fractions of high-value properties or artwork.
Question 6: A retailer wants to verify that diamonds in its supply chain are conflict-free. Which blockchain property makes this possible?
- Anonymity of all transactions
- Immutable provenance records at each custody transfer (Correct answer)
- Unlimited storage of high-resolution images
- Automatic price negotiation between parties
Correct answer: Immutable provenance records at each custody transfer
Each custody transfer is recorded as an immutable on-chain event, creating an auditable provenance trail from mine to retailer.
Question 7: What role does blockchain play in a decentralized energy grid where households sell excess solar power to neighbors?
- It centralizes energy pricing at the utility company
- It records peer-to-peer energy trades and automates settlement (Correct answer)
- It stores the physical electricity on-chain
- It replaces solar panel hardware with digital tokens
Correct answer: It records peer-to-peer energy trades and automates settlement
Blockchain records each kilowatt-hour traded between prosumers and executes smart contract payments without a utility intermediary.
Blockchain Technology Use Cases 2
Which blockchain use case enables patients to control access to their medical records across different healthcare providers?