(a) Cheques are often refused in shops as a form of payment because of the risk they may bounce back if not covered with enough liquidity in the payee's current account yet in the nineteenth century some people in the United States still preferred to be paid by cheques rather than with gold, even though they knew there was a possibility that the cheque might bounce. Explain the main reason for this preference despite the risk involved. [5 marks] (b) 'Without bitcoin blockchain has no future' Is this statement true, false, or uncertain? Justify your answer and use any two relevant examples to support it. [15 marks] (c) On 17th June 2021, Grupo Cinco, the largest entertainment company in Paraguay announced it will start accepting bitcoin as a form of payment from July 2021. The company has received support from some congress members in the country. Suppose you were the governor of the central bank of Paraguay, and the congress of Paraguay sought your view, would you also support or not support the announcement by Grupco Cinco? Defend your view. [15 marks]