Blockchain Applications Across Key Industry Sectors BBLC Practice Questions (Page 2)

Questions 6–10

1. 6application · medium

   An auditor needs to verify that a company's reported carbon emissions match actual supply chain activities. Currently, emissions data is collected from multiple suppliers in different formats and is difficult to verify. The company wants to provide auditors with a reliable, tamper-proof record of emissions data linked to specific shipments. Which approach best supports this audit requirement?

   • AAsk suppliers to email their emissions reports to the auditor directly.
   • BStore emissions data in a shared spreadsheet with edit permissions for all suppliers.
   • CRecord emissions data from each supplier on a shared blockchain with shipment identifiers and timestamps.
   • DUse a third-party consultant to estimate emissions based on industry averages.
   Reveal Solution Discussion Select an answer first
2. 7application · medium

   A small business imports goods from overseas and currently pays suppliers via bank wire transfers that take 3–5 days and incur high fees. The business wants to reduce payment time and cost while maintaining a clear record of each transaction for accounting. Which solution best meets these needs?

   • AUse a peer-to-peer payment app that transfers funds instantly without any record.
   • BContinue using wire transfers but negotiate lower fees with the bank.
   • CUse a blockchain-based cross-border payment service that settles in digital currency or stablecoins with a transparent ledger.
   • DMail a physical check to the supplier to avoid bank fees.
   Reveal Solution Discussion Select an answer first
4. 8expert · hard

   A multinational bank must comply with anti-money laundering (AML) regulations that require it to monitor cross-border trade transactions and report suspicious activity. The bank is considering a permissioned blockchain to share transaction data with regulators. However, the bank is concerned about data privacy because some transaction details are confidential. Which design best balances regulatory transparency with data privacy?

   • AUse a permissioned blockchain where transaction hashes are recorded on the ledger, and full details are stored off-chain with access controls for regulators.
   • BRecord all transaction details on a public blockchain to ensure full transparency for regulators.
   • CEncrypt all transaction data and store it on a permissioned blockchain, giving regulators the decryption key.
   • DUse a private database that regulators can access through a read-only API.
   Reveal Solution Discussion Select an answer first
5. 9application · medium

   An importer in Kenya needs to pay a supplier in China for a shipment. The current bank transfer takes 5–7 days and incurs high intermediary fees. The importer wants to reduce the time and cost, but the supplier requires proof that payment is irrevocable before releasing the goods. Which blockchain-based approach best meets these needs?

   • AHave the importer's bank issue a letter of credit and send it by courier to the supplier's bank.
   • BUse a cryptocurrency like Bitcoin to send the payment directly to the supplier's wallet.
   • CSend the payment via a traditional wire transfer and ask the supplier to trust the bank's confirmation.
   • DUse a stablecoin on a public blockchain for the payment, with a smart contract that escrows the funds and releases them to the supplier only when the shipment is confirmed.
   Reveal Solution Discussion Select an answer first
6. 10foundation · easy

   How does blockchain help prevent double financing in trade finance?

   • ABy automatically cancelling any loan that is not repaid on time
   • BBy requiring all parties to use the same bank
   • CBy encrypting all financial data so that only one bank can access it
   • DBy creating a single, shared record of each invoice or asset that cannot be duplicated
   Reveal Solution Discussion Select an answer first