Blockchain and Business Applications and Implications Answer. In this post you will get Quiz & Assignment Answer Of Blockchain and Business Applications and Implications
Blockchain and Business Applications and Implications
Offered By ”INSEAD”
Week- 1
Re-Architecting the Firm
1.
Question 1
What is/are the feature(s) of a holacracy that have been adapted into the management model for ConsenSys?
1 point
- Dynamic roles rather than job descriptions
- The organization of people around projects rather than departments
- Distributed teams rather than centrally located business units
- All of the above
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2.
Question 2
In his 1937 paper, “The Nature of the Firm,” economist Ronald Coase identified three types of transaction costs for a firm. Which of these includes the cost of policing and enforcing business agreements.
1 point
- Search costs
- Coordination costs
- Contracting costs
- Agency costs
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3.
Question 3
According to Coase, under what conditions will an enterprise continue to expand?
1 point
- Until it establishes a monopoly
- Until the cost of performing a transaction inside the firm exceeds the cost of performing that transaction outside the firm, in an open market
- Until every worker has perfect knowledge, enabling them to do exactly the right thing at the right time
- None of the above
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4.
Question 4
When recruiting new talent, how would searching on a blockchain differ from searching on the Internet?
1 point
- Hiring managers would only be able to search relevant information that users have made open, and would query the blockchain using a series of verifiable yes/no questions specific to the position.
- On a blockchain, a professional networking service provider would host the names, photos, and CVs of job seekers, and would sell access to this information to recruiters and sales professionals.
- On a blockchain, information about a candidate would be abundant, unreliable, and perishable, whereas on the Internet it would be scarce, tamper-proof, and permanent.
- All of the above
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5.
Question 5
This Nobel laureate argued that firms exist to resolve conflicts, largely through contracts made with various parties inside the firm.
1 point
- Vitalik Buterin
- Michael Jenson
- William Meckling
- Oliver Williamson
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6.
Question 6
When managers and executives act in their own interests, rather than in the interests of shareholders or customers, this is an example of a(n):
1 point
- Search cost
- Contracting cost
- Agency cost
- None of the above
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7.
Question 7
How can smart contracts on a blockchain assist in coordinating the work of an enterprise?
1 point
- They can enable people to function together with the persistence and stability of an organization, but without the hierarchy.
- They can be used to record employee actions and managerial decisions in a transparent manner, holding workers and managers accountable to their commitments.
- They can enable shareholders to see any inefficiencies, unnecessary complexity, or major gaps between executive pay and the value these executive actually contribute.
- All of the above
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8.
Question 8
How does blockchain technology reduce the costs of (re)building trust?
1 point
- Participants in a blockchain network are inherently ethical and trustworthy.
- Blockchain makes it easy for companies to conceal bad labor practices.
- Trust is coded into the software protocol; cheating the system would cost more than using it as designed.
- All of the above
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9.
Question 9
What did management experts, Gary Hamel and C.K. Prahalad, argue in their famous Harvard Business Review (HBR) on “core competencies?”
1 point
- Companies gain competitive advantage by mastering a distinct competence, such as specialized skills, proprietary techniques, or unique knowledge.
- Competitive advantage comes from networks of activities that are organized to reinforce the value of each other, making them harder to copy as a whole.
- While anyone may wish to assemble the best team for innovation and high performance, corporate boundary decisions are best left to senior executives.
- None of the above
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10.
Question 10
Which of the following is/are a good starting point(s) for making corporate boundary decisions?
1 point
- Understanding your industry and your competitors
- Identifying opportunities for profitable growth
- Developing a business strategy
- All of the above
week- 2
New Business Models
1.
Question 1
Which of the following is an example of a simple smart contract (i.e. low complexity, low autonomy).
1 point
- An autonomous agent
- A vending machine
- An Open Networked Enterprise
- A Distributed Autonomous Enterprise
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2.
Question 2
What was “The DAO”?
1 point
- The DAO was a decentralized investment fund, deployed on the Ethereum blockchain.
- The DAO represents the first major attack on a distributed application, and serves to illustrate how off-chain governance can influence the operation of on-chain governance rules.
- The DAO was a smart contract whose attack led to a hard fork of the Ethereum blockchain, resulting in two chains: “Ethereum” and “Ethereum Classic.”
- All of the above
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3.
Question 3
Why is it inaccurate to label companies such as Uber and Airbnb as being part of the “sharing economy?”
1 point
- Companies like Uber and Airbnb are not successful because they share, they are successful because they do not share.
- Companies like Uber and Airbnb are service aggregators who profit off of the value that their customers create.
- Companies like Uber and Airbnb collect fees and store valuable data about both sides of the exchange (i.e. the suppliers and the consumers) on their own centralized servers.
- All of the above
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4.
Question 4
What is a “prosumer?”
1 point
- A professional consumer
- A consumer who produces value
- A producer who profits from its consumers
- None of the above
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5.
Question 5
How might the business model for an enterprise collaboration platform differ on a blockchain vs. not on a blockchain?
1 point
- On a blockchain, users would maintain ownership and control over their personal data.
- On a blockchain, advertisers would reward users for their attention.
- On a blockchain, users’ privacy would be enhanced.
- All of the above
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6.
Question 6
A distributed application (DApp):
1 point
- Runs across many computing devices rather than on a single server
- Is a form of cloud computing wherein users store and process their data in a third-party data center
- Did not exist prior to the emergence of blockchain technology
- All of the above
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7.
Question 7
Why would using “bAirbnb” (a blockchain-based version of Airbnb) be advantageous compared to its non-blockchain counterpart?
1 point
- Owners and renters could transact directly, saving on fees that would otherwise be collected by a third-party service provider.
- It would mitigate concerns over privacy breaches or identity theft, since there would be no central database to hack and transactions would be conducted pseudonymously.
- Smart contracts would make payments and access to the property more efficient (e.g. via smart lock technology).
- All of the above
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8.
Question 8
What would have happened if Satoshi Nakamoto had filed for and been issued a patent for the basic concept of Bitcoin?
1 point
- Those who invested in Bitcoin would have received no return on their investment.
- The underlying blockchain technology would have become obsolete by the time the patent was issued.
- It would have stifled innovation, since a Bitcoin patent would have been broad enough to encompass pretty much any application of blockchain.
- All of the above
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9.
Question 9
In what way(s) does blockchain technology support artists and other creators of value?
1 point
- Artists would be able to register a hash of their work, securing a time-stamped proof of ownership.
- Artists could use smart contracts to control the rights status of their work, including conditions for use and reuse.
- It would provide perfect provenance for a digital asset, since every transaction related to a registered work would be recorded on the ledger
- All of the above
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10.
Question 10
Which of the following is a globally distributed group of musicians who use a cryptocurrency to share ownership of the music they collectively create?
1 point
- Mycelia
- Cyberpunks
- Cypherfunks
- The Plantoid Project
Week- 3
The CEO
1.
Question 1
One key responsibility of a CEO in leading the blockchain revolution in his/her company is:
1 point
Communicating that “the rules don’t apply to us”
Encouraging employees to seek out as many different sources of information as they can for information about blockchain (e.g. newspapers, magazine articles, other online sources)
Balancing the hype and the promise of blockchain technology through consistent internal messaging, training, and incentives
All of the above
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2.
Question 2
How can a CEO associate her company’s brand with a blockchain future?
1 point
By telling and re-telling blockchain stories across a variety of communication channels
By using simple terms to communicate his/her message about blockchain technology
By writing a position paper on blockchain technology
All of the above
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3.
Question 3
What strategies can a CEO use to assess the market readiness for blockchain technology?
1 point
Watching blockchain pilots closely
Taking part in proof-of-concept projects
Designing their own proof-of-concept projects
All of the above
The COO
1.
Question 1
How will global supply chain management be transformed by blockchain technology?
1 point
Blockchain will serve as a trustable platform for building relationships among partners, suppliers, and customers who may not otherwise trust each other.
With proof of ownership and attribution on a blockchain, stolen assets can be traced back to their rightful owners.
Blockchain can assist with identity verification and the tracking of money, goods, and people as they pass through border control and customs.
All of the above
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2.
Question 2
How did Moog use blockchain to support its operations?
1 point
It used blockchain to mitigate the lengthy delays at ports and border crossings, due to piles of paperwork and changing rules and regulations.
It used blockchain to check the conditions of transport and storage of foodstuffs.
It used blockchain to secure the transfer and use of 3D printing files so they couldn’t be tampered with, and would print exactly the number of parts that were paid for.
All of the above
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3.
Question 3
How might blockchain technology be used for supply chain management within the agricultural industry?
1 point
Combined with IoT sensors, it can be used to track the quality of crops and soil
It can be used to match excess yields with those in need of food
It can be used to screen out bad actors in the global food supply chain
All of the above
The CLO
1.
Question 1
What strategies can a CLO use to support the development of smart contracts?
1 point
Stick with well-tested methods for creating and running smart contracts
Ensure that there is someone on staff who can audit the code of a smart contract
Keep apprised of cases involving blockchain technologies
All of the above
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2.
Question 2
The watch phrase for CLOs is “Don’t roll your own crypto.” What does this mean?
1 point
Don’t enter smart contracts lightly.
Don’t create some new cryptographic means of securing your smart contracts without publishing it for peer review and outside testing.
Don’t create smart contracts in highly regulated areas, such as health care, financial markets, or pharmaceuticals.
All of the above
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3.
Question 3
Why is the process of obtaining a blockchain patent not straightforward?
1 point
Determining whether an application is eligible is not always clear-cut.
Courts don’t favor applications that codify existing business practices into software.
The design must be “non-obvious,” and the question of obviousness is rich and deep.
All of the above
The CFO
1.
Question 1
Which of the following describes “triple-entry accounting”?
1 point
Financial cryptographer, Ian Grigg, circulated this idea before the release of the Bitcoin blockchain.
The “third entry” was reappropriated to mean a cryptographically sealed record of transactions on a blockchain.
Some have argued that this interpretation of the term isn’t really a departure from double-entry accounting, but that the concept of a shared receipt on a blockchain is still useful.
All of the above
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2.
Question 2
How does blockchain technology disrupt the audit process?
1 point
It doesn’t; blockchain technology merely serves as sleek “digital wallpaper” masking old technologies, processes, and systems.
It provides an immutable ledger showing the entire history of an asset and the real-time status of all transactions.
It transforms auditors into “masters of the universe.”
None of the above
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3.
Question 3
How can a CFO help usher in the blockchain revolution in their organization?
1 point
By understanding the profound changes that are in store for financial services as a result of blockchain technology
By articulating how their organization can deploy blockchain in a novel but principled way
By implementing policies that balance the need for innovation with the need to protect stakeholders
All of the above
The CMO
1.
Question 1
How will blockchain technology disrupt marketing?
1 point
Profiling customers online by tracking their behavior and capturing their data will become a thing of the past.
Smart contracts can improve the performance of search engine optimization and price negotiation.
Advertisers will know with greater precision exactly which elements of their ad budgets delivered results, and what it costs to get a customer’s attention.
All of the above
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2.
Question 2
How did the company, Brave Software, implement blockchain technology in its development of the Brave web browser?
1 point
It employed a token called the “Basic Attention Token” (BAT) to let advertisers pay end users directly for their attention to ads.
It replicated the “4P’s” of marketing (i.e. product, placement, price, and promotion) on a blockchain, rather than through traditional broadcast-media.
Brave Software took over the role of Google and Facebook as an advertising intermediary.
All of the above
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3.
Question 3
How can blockchain technology be used to improve a brand?
1 point
It can enable organizations to provide verifiable proofs, rather than claims, about their brands.
It can enable CMOs to find and reward those who are improving brand and reputation experiences.
It can enable brand managers to deliver verifiable trust that is transparent for all to see.
All of the above
The CIO & CTO
1.
Question 1
How can CIOs and CTOs help other members of the C-suite understand the business strategy implications of blockchain technology?
1 point
By providing compelling examples
By identifying relevant use cases
By developing proposals for pilot projects
All of the above
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2.
Question 2
Which of the following pose(s) a threat to the security of blockchain-based systems?
1 point
Users who fail to protect their private keys
Developers who make trade-offs between security and scalability
Quantum computing
All of the above
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3.
Question 3
What strategies can a CIO or CTO use to ensure their systems are quantum-resistant?
1 point
Perform an audit to identify which data are most vulnerable.
Identify the level of threat and the timing.
Only deploy blockchains that are quantum-resistant, if not quantum-proof, for managing their company’s most valuable assets.
All of the above
The CHRO
1.
Question 1
How can a CHRO become a “blockchain pioneer” within their organization?
1 point
By being open to, and willing to experiment with, blockchain technology for managing talent
By thinking more in terms of tasks needing to be done rather than positions needing to be filled
By assembling a diversity of talent to foster innovation and to overcome problem-solving deadlock
All of the above
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2.
Question 2
How will blockchain technology impact the process of recruitment?
1 point
HR professionals will use blockchain to query candidates’ “black boxes” of data
The credentials of prospective talent will be verifiable, so HR will no longer have to worry about puffed-up, distorted, or inaccurate résumés
Smart contracts will enable CHROs to restructure contractual relationships, bringing in workers and services separately, as needed
All of the above
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3.
Question 3
How will the HR job market be transformed by blockchain technology?
1 point
Some HR jobs will be eliminated
Some HR processes will be automated or managed by algorithms
Some new HR jobs will be created (e.g. ensuring talent systems remain effective, fair, and inclusive)
All of the above
Blockchain Governance & Leadership
1.
Question 1
What can we learn about blockchain regulation from attempts to regulate the Internet?
1 point
Like early Internet developers, those working in the blockchain industry have more expertise than most regulators do
The “hands-off” approach to regulation used for the Internet won’t necessarily work for blockchain, because when it comes to assets, people expect their interests to be protected
Self-regulation should be favored over state-based regulation
All of the above
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2.
Question 2
Why is it difficult to establish regulations for cryptocurrencies?
1 point
Cryptocurrencies can act like a currency, a commodity, a security, or some combination of all three, depending on their characteristics, how they’re being used, and who’s using them.
Regulators can’t predict what will happen if they apply existing regimes to new paradigms; just because policymakers can make existing laws work for cryptocurrencies, doesn’t mean that they should.
Premature rulemaking can create confusion for emerging industries, particularly when poorly thought-out rules result in multiple judicial challenges.
All of the above
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3.
Question 3
Which of the following describes an approach to regulation that would give regulators time to undertake the necessary research and analysis to learn about blockchain technology, while stepping in as needed to protect the public?
1 point
A hands-off approach
A stiff, heavy-handed approach
The combination of a wait-and-see approach with the occasional regulatory threat
None of the above
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4.
Question 4
Whereas “regulation” refers to laws designed to control behaviour, “governance” refers to:
1 point
State-based policies
Stewardship, collaboration, and incentives to pursue common interests
Top-down control of stakeholders in a complex ecosystem
None of the above
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5.
Question 5
Which of the following serves as the foundation of the blockchain technology stack, and defines what’s possible to build at the higher levels?
1 point
The application layer
The blockchain layer
The internet layer
The performance layer
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6.
Question 6
This layer of the blockchain stack includes two components: DApps and DApp frameworks.
1 point
The application layer
The blockchain layer
The internet layer
The performance layer
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7.
Question 7
Which of the following refers to the rules, social norms, customs, and other governance structures that are developed or endorsed from within a community?
1 point
Endogenous rules
Exogenous rules
On-chain governance
Off-chain governance
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8.
Question 8
What is/are the disadvantage(s) of on-chain governance?
1 point
On-chain governance is unpredictable in its execution
On-chain governance is unlikely to handle new and unexpected situations effectively
Systems of on-chain governance are opaque, and are influenced by the whims of human judgment
All of the above
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9.
Question 9
This type of GSN develops new thinking, research, and ideas to help solve global problems, and creates spaces for ideas and information to be shared and debated.
1 point
Advocacy network
Knowledge network
Policy network
Standards network
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10.
Question 10
Which of the following attributes must a hub have in order for blockchain-based innovation to thrive?
1 point
An environment supportive of incubators and entrepreneurship
A strong investment climate
Government support
All of the above
Week- 5
Peer-graded Assignment: Problem Solving with Blockchain
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