Hello friends in this article we are going to see the Blockchain Multiple Choice Questions with answers | Blockchain Interview Questions | Blockchain Technology General Questions with answers | Blockchain Related FAQ 2022
Q1. What is the predefined business logic within a blockchain called?
Ans: smart contracts
Q2.A reputable, world-renowned auction house uses blockchain to verify the authenticity of paintings
prior to placing them up for sale. The records that are stored on the various distributed ledgers for each
painting include the artist’s credentials, history of ownership, appraisal values, and previous purchase
price. Paula would like to make an offer on a painting. After reviewing the distributed ledgers for the
painting, why can Paula purchase the painting with confidence?
Ans: the ledgers are secure, shared, and incorruptible
Q3. Company IT Company A ‘s Multi-party Systems practice has three areas of focus. Two of these are
Financial Services and Supply Chain. Which is the third area of focus?
Ans: Identity
Q4.A company wishes to begin the process of implementing a Multi-party System and is looking for other
companies with similar interests to join them. With blockchain, every organization sees the same data.
What does this provide?
Ans: Uniqueness
Q5. There is a dispute between the multiple parties storing financial transaction data on a blockchain over
the validity of a transaction which happened over a year ago. Which information would help the
disputing parties verify if the data on the blockchain has been tampered with?
Ans: the original hash value
Q6. Company A is a founding member of ID 2020. What is the focus of this alliance?
Ans: digital identity
Q7. How can a blockchain be used to manage sharing of personal records?
Ans: by storing consent and revocations to access the off-chain records
Q8. What is the difference between encryption and hashing?
Ans: Encryption is reversible, while hashing is not.
Q9. How could the adoption of blockchain within a supply chain help the world become more sustainable
and, in some cases, eco-friendly?
Ans: Consumers will be able to effectively track where the components of their product were sourced
Q10. What is an advantage of using blockchain technology?
Ans: The data and transactions recorded are decentralized and distributed among participants in the
network.
Q11. What is IT Company A ‘s role in Multi-party Systems?
Ans: helping ecosystems reimagine their processes to unlock value
Q12. Which model describes how data is written to a blockchain?
Q. Which model describes how data is written to a blockchain?
Q13. An e-commerce company is collaborating with artisans from all over the world to sell the artisans’
products. Company A is helping this client build a platform that will maintain the integrity of the
artisan’s credentials by creating digital identities for them. This creates a privacy preserving link between
the products and the artisans’ unique identities. How will these digital identities help these artisans?
Ans: individually recognize and reward them for using methods and materials that align with buyers’
values such as sustainability and labor practices
Q14. What is a focus of Company A’s point of view on blockchain in the marketplace?
Ans: helping clients with data sharing and reducing data reconciliation, enabling better collaboration
Q15. Tao is a Technology Architect at Company A. Tao must present the value and strategy that Multi-party
Systems bring to organizations. Which statement will help Tao articulate the value of the Multi-party
Systems practice?
Ans: Multi-party Systems practice encourages many disparate single client implementations of
blockchain.
Q16.A potential customer wants to find out how blockchain can benefit their company and why they
should use Company A’s Multi-party Systems practice. Which factor describes the value of using
Company A’s Multi-party Systems practice?
Ans: Company A’s technology and operational experience with blockchain
Q17. Which statement describes data-sharing in a blockchain?
Ans: Organizations share only data related to money and finance
Q18. Company A’s Multi-party Systems practice has three areas of focus. Two of these are Financial
Services and Supply Chain. Which is the third area of focus?
Ans: Identity
Q19. In 2019, an E. coli outbreak was traced from ground beef sold at a nationwide supermarket chain.
This created fear in the consumers’ minds, leading to hesitation in consuming ground beef. How might a
Multi-party Systems strategy help prevent a similar situation from occurring in the future?
Ans: By allowing the source of tainted beef to be identified and prohibiting its sale
Q20. How does blockchain support data privacy?
Ans: Blockchain’s primary purpose is to share data among multiple organizations and some platforms
provide data privacy features.
Q21.A pharmaceutical company is using blockchain to manage their supply chain. Some of their drugs must
be stored at a lower temperature throughout transport so they installed RFID chips to record the
temperature of the container. Which other technology combined with blockchain would help the
company in this situation?
Ans: Artificial Intelligence (AI)
Q22. Company A has put together a coalition of several ecosystem partners to implement the principles of
blockchain and Multi-party Systems using varying technologies. One group of partners is referred to as
MAAG. Which companies are included in the MAAG group?
Ans: Microsoft, Amazon, Alibaba, Google
Q23. What sets blockchain solutions apart from conventional record-keeping solutions?
Ans: A focus and priority on bitcoin and cryptocurrency
Q24. Company A is helping a retail company increase efficiency in the management of customer
transactions, payment processing, and answering customer queries using Machine Learning. The client
uses blockchain technology to share data with their wholesale suppliers, delivery service providers, and
customer organizations. How would the client benefit by using blockchain technology to train the
Machine Learning model?
Ans: Blockchain will ensure that the model training occurs on more consistent and timely data.
Q25. A record company is using blockchain to manage the ownership of their copyrighted content. The
company requires that every time one of their songs is used for commercial purposes, all the parties
involved in creating it receive a set percentage of a royalty fee. How can a blockchain help track the
royalty fees?
Ans: By creating a smart contract to calculate party royalties
Q26. What does the term “Multi-party Systems” refer?
Ans: IT Company A ’s practice that transforms ecosystems using technologies, such as blockchain, digital
identity, and confidential computation
Q27. What is true about hashing?
Ans: Hashing is repeatable and is dependent upon the original data.
Q28. A coffee producer wants to demonstrate that their products are produced using environmentally
sustainable practices that respect the planet. How does the implementation of blockchain technology
help to achieve the client’s goal?
Ans: by ensuring known-traveler digital identity
Q29. In a blockchain, each block has a unique hash value which is dependent on the hash value of the
previous block in the chain. What happens if any transaction data is changed or modified in the earlier
existing blocks?
Ans: The hash values of subsequent blocks are updated as soon as they are tampered with, and the
chain continues.
Q30. As IT company explores an end-to-end business flow that has reconciliation between multiple parties,
what would we uncover?
Ans: shared state
Q31. What type of transaction cannot be stored in blocks on a blockchain?
Ans: a transaction that issues token for a carton of milk from Beach Farm in Wisconsin
Q32. What is the core domain for IT Company A’s Multi-party Systems practice?
Ans: digital identity
Q33. Blockchain is often associated with Bitcoin and the financial services industry. However, it is
applicable to almost every industry. The term Multi-party Systems better describes how the blockchain
system is used. What is a benefit of a Multi-party System?
Ans: The system now owns the data and can share it as needed
Q34. What is one of the reasons to consider implementing a blockchain solution?
Ans: ability to verify that data has not been tampered with since its creation
Q35. How is blockchain different from traditional database models?
Ans: Blockchain can lead to increased transparency and trust in data, ultimately driving more innovation,
improved productivity, and quality.
Q36. How does blockchain technology help organizations when sharing data?
Ans: Data can only be exchanged through a central, trusted organization.
Q37. Blockchain maintains and records data and transactions in a new type of database system. This
technology is used across organizations in an ecosystem and allows products’ histories to be captured as
they move to the consumer. How might this technology help inter-organization processes?
Ans: by limiting data sharing only to a single party
Q38. IT Company A is working with a pharmaceutical company, their transportation logistics network, and
medical centers to coordinate the distribution and receipt of products. IT Company A creates a Multiparty System that tracks these shipments by capturing the unique identity of each unit as it moves from
the manufacturing facility to authorized medical providers. The serial number of each item is securely
captured and recorded at the point of origin and upon receipt at the final destination. How might this
solution help healthcare industries achieve higher safety standards?
Ans: by minimizing counterfeit medications
Q39. Shipping vast quantities of oil and gas supplies is a complex process that requires the participation of
many different parties. Any delays in shipping, or possibility of fraud, across the entire supply chain
could cost the industry billions of dollars. How could blockchain technology be applied to address this
problem?
Ans: by creating a hash or digital fingerprint that is added to the blockchain for each document to
identify any subsequent changes that have been made
Q40. A software giant is enabling a city with smart parking, using real-time information captured by
sensors on the vehicle and sensors in parking lots. When the vehicle leaves, data can be shared between
the vehicle and parking system which will prompt a payment from the driver’s payment device stored in
their account. How would the use of blockchain to store this data help reduce potential risks?
Ans: by sharing data with law enforcement authorities when requested
Find All Accenture TQ Answer Here – Accenture TQ
[…] « Previous […]