FREE Certified Blockchain Professional (CBCP) General Questions and Answers

Question 1

What did they accomplish jointly?

Accepted Answer

The first interbank payments without limitations of time zones

Answer

The launch of wire transfers using cryptography

Answer

The creation of smart contracts and stable coins

Answer

The facilitation of interbank transmission of messages

Question 2

What exactly is digital fiat money?

Accepted Answer

A digital form of currency, that represents a country’s financial reserves

Answer

An e-currency, that creates a transparent and borderless debt market

Answer

An online system, that enables making transactions without a bank account

Answer

None of the above

Question 3

What advantages can blockchain technology provide the insurance sector?

Accepted Answer

By ensuring accuracy of data and automating micro insurances, which reduces costs

Answer

By setting up a digital mode of payment, which simplifies claims settlement

Answer

By introducing flexible premiums to be paid by customers, which increases profits

Answer

By avoiding compliance requirements of national authorities, which reduces overhead

Question 4

How can blockchain technology support the preservation of IP?

Accepted Answer

It allows a user to record an event and establish the timeline.

Answer

It allows a user to send a transaction and receive IP ownership.

Answer

It allows a user to include IP transactions in smart contracts.

Answer

It allows a user to record the creation of software packages.

Question 5

Which government is aggressively supporting the usage of blockchain, for instance?

Accepted Answer

Singapore’s Monetary Authority (MAS) is creating central bank digital money for payments between banks using distributed ledger technology (DLT).

Answer

Estonia offers e-Residency software, which is available to anyone in the world interested in operating a business online and from within the European Union.

Answer

China has created a regulatory sandbox that allows them to closely monitor the experiments in blockchain mining and create their own cryptocurrency.

Answer

All of the above

Question 6

Why is blockchain referred to as the technology that gives the internet an extra layer of trust?

Accepted Answer

It allows individuals and groups to work together without having to trust each other or establish authority.

Answer

It provides multifactor authentication to create and update records of cryptocurrency transactions securely.

Answer

It provides mechanism for the government to create their own digital fiat currency as a replacement of physical currency.

Answer

It creates a dedicated virtual private network (VPN) tunnel between two or more parties to carry out online fund transfers.

Question 7

What do you call the split in a blockchain?

Accepted Answer

A fork

Answer

A division

Answer

A merger

Answer

None of above

Question 8

Blockchain is a particular kind of.......

Accepted Answer

Database

Answer

Object

Answer

Table

Answer

View

Question 9

Data is stored in the form of on blockchains.

Accepted Answer

Blocks

Answer

Circle

Answer

lines

Answer

None of above

Question 10

In 2008,.................... created the blockchain.

Accepted Answer

Satoshi Nakamoto

Answer

Bill Gates

Answer

Alon Musk

Answer

None of above