CAF-3 · Chapter 12 · Question 14 of 15
When Blockchain and Fintech converge, what is the primary strategic benefit realized by the financial ecosystem?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: C) Reduced dependency on intermediaries, improved transaction speed, and lower costs
Explanation
The synergy of Blockchain and Fintech empowers businesses by reducing dependency on intermediaries, cutting costs, improving transaction speed, and enhancing trust
More Fintech & Blockchain Applications MCQs
- Q1What is the primary feature of blockchain technology that ensures data cannot be altered or tampered with once it is recorded?
- Q2In a blockchain network, what happens if a hacker attempts to alter a transaction within a specific block?
- Q3Which type of participant in a blockchain network stores a complete copy of the entire ledger and actively participates in validating and…
- Q4What is the specific purpose of "hashing" in a blockchain environment?
- Q5Which of the following is a classic example of a completely open, decentralized Public Blockchain?