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Read the information given below carefully and answer the following question.The blockchain technology that underpins cryptocurrencies like Bitcoin has the potential to reduce large banking frauds drastically because it enables radical transparency. Every transaction on Bitcoin is public and you do not even need a Bitcoin wallet to see these transactions. Many websites allow anybody with a web browser anywhere in the world to see every single transaction as it happens. Banks can use the same technology to allow the whole world to see every large financing or guarantee transaction.Q.Which of the following is the most rational inference from the above passage?a)The technology that underpins Bitcoin has the potential to reduce bank fraud but will lead to a downfall of the financial system.b)Since anyone with the access to internet can see every transaction, blockchain technology will lead to infringement of institutional privacy.c)Blockchain technology has the potential to reduce banking frauds because every transaction details can be accessed byanyone.d)Cryptocurrencies have the potential to replace physical currencies because of which many countries have started banning them.Correct answer is option 'C'. Can you explain this answer? for UPSC 2024 is part of UPSC preparation. The Question and answers have been prepared according to the UPSC exam syllabus. Information about Read the information given below carefully and answer the following question.The blockchain technology that underpins cryptocurrencies like Bitcoin has the potential to reduce large banking frauds drastically because it enables radical transparency. Every transaction on Bitcoin is public and you do not even need a Bitcoin wallet to see these transactions. Many websites allow anybody with a web browser anywhere in the world to see every single transaction as it happens. Banks can use the same technology to allow the whole world to see every large financing or guarantee transaction.Q.Which of the following is the most rational inference from the above passage?a)The technology that underpins Bitcoin has the potential to reduce bank fraud but will lead to a downfall of the financial system.b)Since anyone with the access to internet can see every transaction, blockchain technology will lead to infringement of institutional privacy.c)Blockchain technology has the potential to reduce banking frauds because every transaction details can be accessed byanyone.d)Cryptocurrencies have the potential to replace physical currencies because of which many countries have started banning them.Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for UPSC 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Read the information given below carefully and answer the following question.The blockchain technology that underpins cryptocurrencies like Bitcoin has the potential to reduce large banking frauds drastically because it enables radical transparency. Every transaction on Bitcoin is public and you do not even need a Bitcoin wallet to see these transactions. Many websites allow anybody with a web browser anywhere in the world to see every single transaction as it happens. Banks can use the same technology to allow the whole world to see every large financing or guarantee transaction.Q.Which of the following is the most rational inference from the above passage?a)The technology that underpins Bitcoin has the potential to reduce bank fraud but will lead to a downfall of the financial system.b)Since anyone with the access to internet can see every transaction, blockchain technology will lead to infringement of institutional privacy.c)Blockchain technology has the potential to reduce banking frauds because every transaction details can be accessed byanyone.d)Cryptocurrencies have the potential to replace physical currencies because of which many countries have started banning them.Correct answer is option 'C'. Can you explain this answer?.

Solutions for Read the information given below carefully and answer the following question.The blockchain technology that underpins cryptocurrencies like Bitcoin has the potential to reduce large banking frauds drastically because it enables radical transparency. Every transaction on Bitcoin is public and you do not even need a Bitcoin wallet to see these transactions. Many websites allow anybody with a web browser anywhere in the world to see every single transaction as it happens. Banks can use the same technology to allow the whole world to see every large financing or guarantee transaction.Q.Which of the following is the most rational inference from the above passage?a)The technology that underpins Bitcoin has the potential to reduce bank fraud but will lead to a downfall of the financial system.b)Since anyone with the access to internet can see every transaction, blockchain technology will lead to infringement of institutional privacy.c)Blockchain technology has the potential to reduce banking frauds because every transaction details can be accessed byanyone.d)Cryptocurrencies have the potential to replace physical currencies because of which many countries have started banning them.Correct answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for UPSC. Download more important topics, notes, lectures and mock test series for UPSC Exam by signing up for free.

Here you can find the meaning of Read the information given below carefully and answer the following question.The blockchain technology that underpins cryptocurrencies like Bitcoin has the potential to reduce large banking frauds drastically because it enables radical transparency. Every transaction on Bitcoin is public and you do not even need a Bitcoin wallet to see these transactions. Many websites allow anybody with a web browser anywhere in the world to see every single transaction as it happens. Banks can use the same technology to allow the whole world to see every large financing or guarantee transaction.Q.Which of the following is the most rational inference from the above passage?a)The technology that underpins Bitcoin has the potential to reduce bank fraud but will lead to a downfall of the financial system.b)Since anyone with the access to internet can see every transaction, blockchain technology will lead to infringement of institutional privacy.c)Blockchain technology has the potential to reduce banking frauds because every transaction details can be accessed byanyone.d)Cryptocurrencies have the potential to replace physical currencies because of which many countries have started banning them.Correct answer is option 'C'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Read the information given below carefully and answer the following question.The blockchain technology that underpins cryptocurrencies like Bitcoin has the potential to reduce large banking frauds drastically because it enables radical transparency. Every transaction on Bitcoin is public and you do not even need a Bitcoin wallet to see these transactions. Many websites allow anybody with a web browser anywhere in the world to see every single transaction as it happens. Banks can use the same technology to allow the whole world to see every large financing or guarantee transaction.Q.Which of the following is the most rational inference from the above passage?a)The technology that underpins Bitcoin has the potential to reduce bank fraud but will lead to a downfall of the financial system.b)Since anyone with the access to internet can see every transaction, blockchain technology will lead to infringement of institutional privacy.c)Blockchain technology has the potential to reduce banking frauds because every transaction details can be accessed byanyone.d)Cryptocurrencies have the potential to replace physical currencies because of which many countries have started banning them.Correct answer is option 'C'. Can you explain this answer?, a detailed solution for Read the information given below carefully and answer the following question.The blockchain technology that underpins cryptocurrencies like Bitcoin has the potential to reduce large banking frauds drastically because it enables radical transparency. Every transaction on Bitcoin is public and you do not even need a Bitcoin wallet to see these transactions. Many websites allow anybody with a web browser anywhere in the world to see every single transaction as it happens. Banks can use the same technology to allow the whole world to see every large financing or guarantee transaction.Q.Which of the following is the most rational inference from the above passage?a)The technology that underpins Bitcoin has the potential to reduce bank fraud but will lead to a downfall of the financial system.b)Since anyone with the access to internet can see every transaction, blockchain technology will lead to infringement of institutional privacy.c)Blockchain technology has the potential to reduce banking frauds because every transaction details can be accessed byanyone.d)Cryptocurrencies have the potential to replace physical currencies because of which many countries have started banning them.Correct answer is option 'C'. Can you explain this answer? has been provided alongside types of Read the information given below carefully and answer the following question.The blockchain technology that underpins cryptocurrencies like Bitcoin has the potential to reduce large banking frauds drastically because it enables radical transparency. Every transaction on Bitcoin is public and you do not even need a Bitcoin wallet to see these transactions. Many websites allow anybody with a web browser anywhere in the world to see every single transaction as it happens. Banks can use the same technology to allow the whole world to see every large financing or guarantee transaction.Q.Which of the following is the most rational inference from the above passage?a)The technology that underpins Bitcoin has the potential to reduce bank fraud but will lead to a downfall of the financial system.b)Since anyone with the access to internet can see every transaction, blockchain technology will lead to infringement of institutional privacy.c)Blockchain technology has the potential to reduce banking frauds because every transaction details can be accessed byanyone.d)Cryptocurrencies have the potential to replace physical currencies because of which many countries have started banning them.Correct answer is option 'C'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Read the information given below carefully and answer the following question.The blockchain technology that underpins cryptocurrencies like Bitcoin has the potential to reduce large banking frauds drastically because it enables radical transparency. Every transaction on Bitcoin is public and you do not even need a Bitcoin wallet to see these transactions. Many websites allow anybody with a web browser anywhere in the world to see every single transaction as it happens. Banks can use the same technology to allow the whole world to see every large financing or guarantee transaction.Q.Which of the following is the most rational inference from the above passage?a)The technology that underpins Bitcoin has the potential to reduce bank fraud but will lead to a downfall of the financial system.b)Since anyone with the access to internet can see every transaction, blockchain technology will lead to infringement of institutional privacy.c)Blockchain technology has the potential to reduce banking frauds because every transaction details can be accessed byanyone.d)Cryptocurrencies have the potential to replace physical currencies because of which many countries have started banning them.Correct answer is option 'C'. Can you explain this answer? tests, examples and also practice UPSC tests.