CAF-3 · Chapter 12 · Question 15 of 15
A supply chain company uses blockchain to automate contract execution and title transfers between the supplier, shipper, and buyer without using a broker. This specific cost-saving feature is driven by:
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: A) Smart Contracts
Explanation
Smart contracts automatically execute actions (like title transfers or payments) based on predefined rules without needing third-party brokers, reducing costs and manual processing time ,
More Fintech & Blockchain Applications MCQs
- 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?
- Q6An enterprise wants to keep its sensitive internal data private while simultaneously sharing key, non-sensitive information on a public…