Blockchain Technology Use Cases 2

Question 1

Which blockchain use case enables patients to control access to their medical records across different healthcare providers?

Accepted Answer

Decentralized health data exchange

Answer

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?

Accepted Answer

It settles transactions in minutes with lower fees

Answer

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?

Accepted Answer

Each verified stream or download event

Answer

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)?

Accepted Answer

An identity the user owns and presents without relying on a central authority

Answer

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?

Accepted Answer

Decentralized finance (DeFi)

Answer

DeFi platforms tokenize real-world assets, splitting ownership into digital tokens so smaller investors can hold fractions of high-value properties or artwork.

Blockchain Practice Test

Blockchain Practice Test

Blockchain Technology Use Cases 2