Question
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. |
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