CBC Business Applications & Strategy

Question 1

How can blockchain benefit business operations?

Accepted Answer

It enhances transparency, security, and efficiency

Answer

It increases data centralization

Answer

It eliminates the need for regulatory compliance

Answer

It slows down transaction processing

Question 2

Which industry has widely adopted blockchain for supply chain management?

Accepted Answer

Logistics and retail

Answer

Entertainment

Answer

Hospitality

Answer

Fashion design

Question 3

What is a major challenge businesses face in adopting blockchain?

Accepted Answer

Scalability and transaction speed limitations

Answer

Blockchain has no challenges

Answer

Lack of cryptographic security

Answer

Blockchain does not require any investment

Question 4

Which blockchain feature benefits financial institutions the most?

Accepted Answer

Automation of transactions using smart contracts

Answer

High costs for processing transactions

Answer

No security in financial records

Answer

Eliminating financial reporting requirements

Question 5

How does blockchain help with digital identity management?

Accepted Answer

By securing and verifying digital identities

Answer

By making all identity data public

Answer

By eliminating the need for encryption

Answer

By increasing identity fraud risks

Question 6

Which strategy can businesses use to successfully implement blockchain technology?

Accepted Answer

Integrate blockchain with existing systems

Answer

Avoid regulatory compliance

Answer

Ignore security considerations

Answer

Use blockchain for speculation only