Blockchain technology, with its decentralized and transparent nature, hasthe potential to:*1 pointIncrease the risk of fraud and financial corruptionFoster economic growth, reduce poverty, and promote sustainabilityLimit financial inclusion and make it more difficult to access financial servicesCreate a more centralized and controlled financial system

Blockchain technology is a data structure that makes it possible to create a digital ledger of transactions and share it among a distributed network of computers. Forward looking organizations believe blockchain technology will fundamentally change which HR practice areas?Reference and background checksPerformance ratingsCertification verificationQuestion 6Answera.Only 1b.Only 1, 2c.Only 2, 3d.1, 2, and 3

Which of the following is NOT a business benefit of Blockchain Technology?AEliminates fraudulent transactions.BReduces transaction costs as there is no need to pay third parties, such as banks.CLess traceability.DDecentralizes data for better security.SUBMIT

Discuss any two benefits and usecase of Blockchain enabled in cybersecurity? for 2 marks

Which of the following is a characteristic of blockchain technology?Question 12Answera.Centralized control over the networkb.Unlimited scalabilityc.Lack of transparency in the transaction processd.Immutable ledger of transactions

What is the primary purpose of a blockchain in the context of cryptocurrencies?Question 11AnswerA.Enhancing user anonymityB.Reducing transaction feesC.Centralizing controlD.Facilitating decentralized and secure transactions