Why can competitive dynamics be a challenge within a blockchain consortium?

Members must merge into a single company

Members are prohibited from competing outside the consortium

Members may be competitors and may be reluctant to share sensitive data

Members are required to share all their intellectual property

Which element is typically part of a blockchain consortium's operational framework?

A prohibition on any changes to the network after launch

A mandate to use a specific public cryptocurrency for all transactions

A requirement that all members store data on their own private servers only

A defined set of protocols for transaction validation and data sharing

A group of insurance companies wants to create a shared platform to verify customer claims and reduce fraud. They require that only approved insurers can participate and that no single company controls the network. Which type of blockchain network should they choose?

A private blockchain controlled by one insurer

A distributed database without blockchain

Which of the following is a common goal that drives organizations to form a blockchain consortium?

To reduce transaction costs and improve efficiency through shared processes

To eliminate the need for any form of governance

To create a public cryptocurrency for speculative investment

To give one organization complete control over the network

EC-CouncilBlockchain Business Leader Certification

Domain 5Objective 4

Blockchain Consortia and Collaborative Networks BBLC Practice Questions (Page 1)

Part of the Blockchain Platforms and Ecosystem domain, which makes up ~10% of our current practice bank.

51questions here

11free pages

8concepts

Questions 1–5

1foundation · easy
Which governance model in a blockchain consortium typically gives each member organization one vote regardless of size?
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2foundation · easy
Why can competitive dynamics be a challenge within a blockchain consortium?
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3foundation · easy
Which element is typically part of a blockchain consortium's operational framework?
Select an answer first
4application · medium
A group of insurance companies wants to create a shared platform to verify customer claims and reduce fraud. They require that only approved insurers can participate and that no single company controls the network. Which type of blockchain network should they choose?
Select an answer first
5foundation · easy
Which of the following is a common goal that drives organizations to form a blockchain consortium?
Select an answer first

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