Oracle Magazine, Mar/Apr 2018
MASHUP DO YOU SPEAK TECH QUIZ YOURSELF 1 Which of the following names the process by which transactions are verified and added to a blockchain A Mining B Consensus point C Handshake 2 In the context of blockchain soft fork refers to A A scenario in which someone tries to send a Bitcoin transaction to two different recipients simultaneously B Software applications that can run without the use of a centralized system C A protocol being updated in such a way that it still can communicate with previous protocols 3 Fiat currency is A Any money declared by a government to be valid for meeting a financial obligation USD or GBP for example B The name for automaker Fiats profit sharing ORACLE MAGAZINE MARCH APRIL 2018 9 model C Digital currency governed by proprietary and seemingly arbitrary rules Answers 1 A 2 C 3 A Time for Blockchain in Finance Global survey report says yes Blockchain originated with and for digital currency so it should be no surprise that a huge percentage 91 of financial services companies expect the technology to transform their industry Although a recent global survey of 1520 executives from 578 financial services firms revealed pockets of uncertainty on various topics its authors warn that those who hesitate will be left behind Expectations and plans Believe blockchain technology will improve regulatory compliance Believe blockchain will be either critical or important to their firms future Have defined a blockchain strategy Plan to replace some parts of the legacy system to enable blockchain adoption 95 91 48 41 Source Financial Services Building Blockchain One Block at a Time Cognizant 2017
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