BLOCKCHAIN MODULE 4. questions with solutions

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disruptive elements - correct answer✔ ✔
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Blockchain technology has the potential to disrupt many indu
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stries and processes. Here are some of the disruptive elements
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of blockchain technology
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Disruptive elements: j7




Blockchain is a decentralized and distributed system across an
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extensive network of computers that can track and store data5.
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Blockchain has individually encrypted, unalterable transactions
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or "blocks" that make it ideal for a range of uses across industri
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es


Blockchain has the potential to disintermediate key services tha
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t banks provide, from payments to clearance and settlement sys
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tems


Blockchain technology never relies on a centralized authority,
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making it ideal for disrupting industries such as supply chain m
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anagement

,Blockchain technology has the potential to impact the way the
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world's economy operates through smart contracts, static record
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s, distributed databases, and greater transparency.
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Opportunities of Blockchain - correct answer✔ ✔ j7 j7 j7 j7 j7


Blockchain technology has the potential to disrupt many indu
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stries and processes. Here are some of the opportunities and dis
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ruptive elements of blockchain technology.
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j7 Opportunities:


Blockchain can increase transparency and security in governme
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ntal bodies, making it easier to enable quicker tax payments, lo
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wer rates of tax fraud, and have faster, easier audits
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Blockchain can transform many industries, from insurance to g
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aming to cannabis, by providing a transparent, verifiable registe
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r of transaction data
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, Blockchain technology can improve the patient experience in h
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ealthcare applications by playing a pivotal role in the storage a
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nd exchange of data
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Blockchain technology can potentially change education by iss
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uing tamper-
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proof digital credentials and certifications that students can easi
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ly share and verify
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Blockchain technology can alter the landscape of the financial s
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ector by driving the way digital information is distributed
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challenges of blockchain - correct answer✔ ✔
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Blockchain technology has several challenges that need to be
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addressed to reach its full potential. Here are some of the chall
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enges of blockchain technology from the search results:
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Challenges:


Blockchain networks can be slow and inefficient due to the hig
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h computational requirements needed to validate transactions,
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which affects scalability
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