Crypto

Question 1

Crypto is a _______ based on the blockchain technology?

Answer 1

Decentralized digital money (ddg)

Question 2

According to CoinLore, there are how many cryptocurrencies ?

Answer 2

More than 5000

Question 3

Bitcoin was first outlined in principle by ___________ as __________?

Answer 3

Satoshi Nakamoto in 2008 as Bitcoin: A peer to peer electronic cash system

Question 4

Nakamoto described bitcoin as __________?

Answer 4

An electronic payment based on cryptographic proof rather than trust

Question 5

_______ verifies cryptographic proof in form of Trasanctions, on its program

Answer 5

Blockchain

Question 6

What percentage of Money supply is digital in the Euro Area? And what percentage is in currency?

Answer 6

90% and 9.4%

Question 7

What are the three basic functions of cryptocurrency?

Answer 7

store of wealth, means of payment and unit of account

Question 8

Bitcoin rose from $1 to $50000 in what year?

Answer 8

2021

Question 9

Is the acceptance of cryptocurrency globally high or low?

Answer 9

Neither. Very low

Question 10

Changing Bitcoin to other currencies require how much gas fee?

Answer 10

1.49-10%

Question 11

What are the three paradigms of the innovation of blockchain?

Answer 11

Mutual consensus verification, encryption and smart contracts

Question 12

________ allows can users reveal information to a selective few as needed

Answer 12

Encryption

Question 13

_____ are programs or codes uploaded to a ledger rather than basic passive data entries

Answer 13

Smart contracts

Question 14

The smart chain codes or programs passed into the ledger are ________?

Answer 14

Immutable (unchangeable)

Question 15

Hashed encrypted data sets are entered in the ledger to create?

Answer 15

Richer Dataset

Question 16

What are the innovations that make up the blockchain?

Answer 16

Technological innovations, data efficiencies and benefits

Question 17

Blockchain development is part of china’s _ 5 year plan?

Answer 17

13

Question 18

___ out of how many china banks have adopted blockchain technology?

Answer 18

12 /26

Question 19

JP Morgan’s Interbank Information Network is the firms ______________ powered by the blockchain technology

Answer 19

First scalable p2p network

Question 20

The bank of america currently has how many blockchain related patents?

Answer 20

82

Question 21

What global banking institutions have adopted the blockchain technology?

Answer 21

JP morgan chase, china, Bank of America, Goldman Sachs

Question 22

______ securities could enable new approaches to Financial Engineering?

Answer 22

Unbundled

Question 23

_________ are created as pre-programmed Smart Contracts

Answer 23

Derivatives

Question 24

Full meaning of CCP?

Answer 24

Central Counterparty Clearing House

Question 25

Disrupters in other industries like AirBnb and Uber have adopted what approach?

Answer 25

Ask first, seek forgiveness later

Question 26

Records are irrevocable once entered into a blockchain and amendments require changes to all subsequent blocks?

Answer 26

True

Question 27

CSD meaning?

Answer 27

Central Supplier Database

Question 28

What is KYC?

Answer 28

Know your customer

Question 29

Nigerians have traded nearly how much in bitcoin?

Answer 29

600m

Question 30

Bitcoin in Nigeria had its highest spike in Nigeria in what year? And how many percentage?

Answer 30

30% 2020

Question 31

The bank of North America served as a _________ to issue currency for the union

Answer 31

De facto central bank

Question 32

The first American bank was established in ? The name? To fund what war?

Answer 32

1780 Bank of Pennsylvania America Revolution War

Question 33

The bank of Pennsylvania was replaced by? Then that by?

Answer 33

bank of North America then First Bank of America

Question 34

The first Bank of America was owned by?

Answer 34

The government and private stakeholders

Question 35

The Second Bank of America brought about the free banking era in?

Answer 35

1837

Question 36

The National Banking Act was replaced in ? By?

Answer 36

1913 Federal Reserve Act

Question 37

The two most popular banking systems are?

Answer 37

Unit banking and branch banking

Question 38

Commercial banks in the United States are classified into 2? Namely?

Answer 38

Federal Chartered Banks and States Chartered banks

Question 39

What bank is insured by Federal Deposit Insurance Corporation and has membership of Federal Reserve

Answer 39

Federal chartered Banks

Question 40

Commercial banks in the us control how many percent of household savings and term deposits?

Answer 40

40%

Question 41

_______ are non profit banking institutions that act as cooperative bank to their customers?

Answer 41

Credit unions

Question 42

Classification of saving institutions in Nigeria?

Answer 42

Savings and loans association, credit unions and Mutual Savings Banks

Question 43

Banking in America is regulated at the federal and state level

Answer 43

True

Question 44

Banks in the USA are supervised by ?

Answer 44

Bank examiners

Question 45

How many bodies make up the federal reserve system ?

Answer 45

6