Blockchain Ecosystem and Use Cases BFC Practice Questions (Page 1)

Questions 1–5

1. 1application · medium

   A healthcare fintech company is developing a blockchain-based system for patients to share medical records with insurers. The system must ensure that only authorized parties can access sensitive data and that patients can revoke access at any time. Which mechanism is most appropriate?

   • AUse a permissioned blockchain with attribute-based access control and smart contracts that enforce patient consent.
   • BUse a blockchain with no access control, relying on encryption alone.
   • CUse a public blockchain where all medical records are encrypted and stored on-chain.
   • DUse a centralized database with a simple username and password for each patient.
   Reveal Solution Discussion Select an answer first
2. 2application · medium

   A bank wants to implement a self-sovereign identity solution for its customers to reduce KYC duplication and improve privacy. Customers should control which personal data they share with third parties. Which design principle is most important?

   • AUse verifiable credentials issued by the bank that customers store in their own digital wallets and present selectively.
   • BStore all customer identity data on a public blockchain for transparency.
   • CUse a biometric authentication system that stores fingerprints on the blockchain.
   • DCreate a central database of customer identities that all third parties can access.
   Reveal Solution Discussion Select an answer first
4. 3application · medium

   A coffee producer wants to tokenize its coffee beans to prove origin and quality to buyers. Each batch of beans is represented as a token that tracks the journey from farm to roaster. Which token standard is most suitable?

   • AA single token for all coffee beans produced by the farm.
   • BNon-fungible tokens (NFTs) for each batch, with metadata containing origin and quality data.
   • CA centralized database with QR codes on packaging.
   • DFungible tokens that represent a fixed quantity of coffee beans.
   Reveal Solution Discussion Select an answer first
5. 4application · medium

   A manufacturing company wants to improve transparency in its supply chain finance by allowing banks to verify the authenticity of invoices and track goods in real time. They also want to automate payments when goods are delivered. Which blockchain approach best meets these needs?

   • AA private blockchain operated solely by the manufacturer, with no external participants.
   • BA public blockchain where all transaction data is visible to anyone, with smart contracts for payments.
   • CA permissioned blockchain shared with suppliers, logistics providers, and banks, using smart contracts for automatic payment upon delivery confirmation.
   • DA traditional ERP system with manual invoice verification and payment processing.
   Reveal Solution Discussion Select an answer first
6. 5foundation · easy

   What is a key privacy benefit of blockchain-based identity management?

   • AAll identity data is publicly visible on the blockchain
   • BUsers can prove attributes without revealing the underlying data
   • CUsers must share their full identity with every service
   • DIdentity data is stored on a single government server
   Reveal Solution Discussion Select an answer first