Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

We spent a bit of time discussing Blockchain and cryptocurrencies as part of our Chapter 1 discussion and lecture. Which of the following statements is

We spent a bit of time discussing Blockchain and cryptocurrencies as part of our Chapter 1 discussion and lecture. Which of the following statements is TRUE regarding the use of Blockchain in a corporate setting?

The blockchain ledger is stored in a single location and functions as an online database so each computer in the peer-to-peer network can verify the chains.

Blockchain information is housed on a peer-to-peer network, but the chains themselves are encrypted so all transactions remain private and anonymous.

Virtually everything of value can be recorded and companies have begun using blockchain technology to track inventory and finished goods as they pass through the value chain.

Blockchains require a central authority to control the network and inter-node communication when validating new blocks.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

College Accounting Chapters 1-12 With Study Guide And Working Papers

Authors: Jeffrey Slater

13th Edition

0133866300, 9780133866308

More Books

Students also viewed these Accounting questions