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CSE5BCC | Assessment 3 Long Answer Blockchain and Cryptocurrencies | IT

Home Recent Questions CSE5BCC | Assessment 3 Long Answer Blockchain and Cryptocurrencies | IT

Question 1) It is commonly believed that Blockchain technology presents many opportunities and very few threats. To what extent do you agree with this view?

Question 2) ‘It is only possible for users to gain the full potential of Blockchain technology by using Distributed Applications (DApp) such as smart contracts’. To what extent do you agree with this statement?

Question 3) The security of cryptocurrencies is a major concern for businesses, investors and financial markets. Briefly identify three major vulnerabilities in the security of cryptocurrencies and three ways in which the security of cryptocurrencies could be improved.

Question 4) The future applications of blockchain technology are potentially limitless. Identify at least 2 industries (e.g. insurance, music, health care, etc.) or areas of government that you believe will make increased use of blockchain technology over the next decade. In your answer identify why you believe blockchain will be of use and how it will be applied.

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