Quiz 12 Block Chain Questions and Answers
Question No 1
1. What is true in context of BlockChain?
Answer : All of the above
Question No 2
2. What is(are) not a blockchain's element
Answer: Blockchain has smart contract which is used as a legally binding contract between two parties
Question No 3
3. Which Indian bank has issued an INR 100 cr Commercial Paper to Vedanta using blockchain technology, a first in Asia
Answer: Yes Bank
Question No 4
4.Yes Bank has used Blockchain solution to fully digitize vendor financing for Bajaj Electricals. The details are as follows: Process: Vendor financing Solution details: The solution will allow Bajaj Electricals (anchor client) to digitize the process for discounting and disbursal of funds to its vendors by integrating seamlessly with YES BANK’s systems. The solution will also facilitate an automated debit from Bajaj Electricals’ account by YES BANK. Technical Architecture: The process has been design on IBM's Hyperledger Fabric, while the business logic/ rules for transaction has been captured in smart contract with the help of a US based start up Cateina Technologies. While the real automated transaction happens (from Bajaj Electricals' Yes Bank account to Vendors' bank account) automatically (with 0 manual intervention) through Yes Bank's API Banking technology
Answer : Allow ability to pay in Crypto currency
peaking on the implementation, Mr. Rana Kapoor, MD&CEO, YES BANK, said,” Since inception, YES BANK has used technology and innovation, as mission critical pillars, to offer a superior banking experience to its corporate and retail customers. Our Blockchain implementation is a continuation of this philosophy to offer revolutionary banking technology to our clients.