Accenture TQ Blockchain Assessment Questions and Answers
Q. What is the predefined business logic within a blockchain called? Ans: smart contracts
Q.A reputable, world-renowned auction house uses blockchain to verify the authenticity of paintings prior to placing them up for sale. The records that are stored on the various distributed ledgers for each painting include the artist’s credentials, history of ownership, appraisal values, and previous purchase price. Paula would like to make an offer on a painting. After reviewing the distributed ledgers for the painting, why can Paula purchase the painting with confidence?
Ans: the ledgers are secure, shared, and incorruptible
Q. Company IT Company A ‘s Multi-party Systems practice has three areas of focus. Two of these are Financial Services and Supply Chain. Which is the third area of focus?
Accenture TQ Data Assessment Questions and Answers
Q.A company wishes to begin the process of implementing a Multi-party System and is looking for other companies with similar interests to join them. With blockchain, every organization sees the same data. What does this provide?
Q. There is a dispute between the multiple parties storing financial transaction data on a blockchain over the validity of a transaction which happened over a year ago. Which information would help the disputing parties verify if the data on the blockchain has been tampered with?
Ans: the original hash value
Q. Company A is a founding member of ID 2020. What is the focus of this alliance? Ans: digital identity
Q. How can a blockchain be used to manage sharing of personal records? Ans: by storing consent and revocations to access the off-chain records
Q. What is the difference between encryption and hashing? Ans: Encryption is reversible, while hashing is not.
Q. How could the adoption of blockchain within a supply chain help the world become more sustainable and, in some cases, eco-friendly?
Ans: Consumers will be able to effectively track where the components of their product were sourced.
Q. What is an advantage of using blockchain technology?
Ans: The data and transactions recorded are decentralized and distributed among participants in the network.
Q. What is IT Company A ‘s role in Multi-party Systems?
Ans: helping ecosystems reimagine their processes to unlock value
Q. Which model describes how data is written to a blockchain?
Ans: Append only
Q. An e-commerce company is collaborating with artisans from all over the world to sell the artisans’ products. Company A is helping this client build a platform that will maintain the integrity of the artisan’s credentials by creating digital identities for them. This creates a privacy preserving link between the products and the artisans’ unique identities. How will these digital identities help these artisans?
Ans: individually recognize and reward them for using methods and materials that align with buyers’ values such as sustainability and labor practices
Q. What is a focus of Company A’s point of view on blockchain in the marketplace?
Ans: helping clients with data sharing and reducing data reconciliation, enabling better collaboration
Q. Tao is a Technology Architect at Company A. Tao must present the value and strategy that Multi-party Systems bring to organizations. Which statement will help Tao articulate the value of the Multi-party Systems practice?
Ans: Multi-party Systems practice encourages many disparate single client implementations of blockchain.
Q.A potential customer wants to find out how blockchain can benefit their company and why they should use Company A’s Multi-party Systems practice. Which factor describes the value of using Company A’s Multi-party Systems practice?
Ans: Company A’s technology and operational experience with blockchain
Q. Which statement describes data-sharing in a blockchain?
Ans: Organizations share only data related to money and finance.
Q. Company A’s Multi-party Systems practice has three areas of focus. Two of these are Financial Services and Supply Chain. Which is the third area of focus?
Q. In 2019, an E. coli outbreak was traced from ground beef sold at a nationwide supermarket chain. This created fear in the consumers’ minds, leading to hesitation in consuming ground beef. How might a Multi-party Systems strategy help prevent a similar situation from occurring in the future?
Ans: By allowing the source of tainted beef to be identified and prohibiting its sale
Q. How does blockchain support data privacy?
Ans: Blockchain’s primary purpose is to share data among multiple organizations and some platforms provide data privacy features.
Q.A pharmaceutical company is using blockchain to manage their supply chain. Some of their drugs must be stored at a lower temperature throughout transport so they installed RFID chips to record the temperature of the container. Which other technology combined with blockchain would help the company in this situation?
Ans: Artificial Intelligence (AI)
Q. Company A has put together a coalition of several ecosystem partners to implement the principles of blockchain and Multi-party Systems using varying technologies. One group of partners is referred to as MAAG. Which companies are included in the MAAG group?
Ans: Microsoft, Amazon, Alibaba, Google
Q. What sets blockchain solutions apart from conventional record-keeping solutions? Ans: A focus and priority on bitcoin and cryptocurrency
Q. Company A is helping a retail company increase efficiency in the management of customer transactions, payment processing, and answering customer queries using Machine Learning. The client uses blockchain technology to share data with their wholesale suppliers, delivery service providers, and customer organizations. How would the client benefit by using blockchain technology to train the Machine Learning model?
Ans: Blockchain will ensure that the model training occurs on more consistent and timely data.
Q. A record company is using blockchain to manage the ownership of their copyrighted content. The company requires that every time one of their songs is used for commercial purposes, all the parties involved in creating it receive a set percentage of a royalty fee. How can a blockchain help track the royalty fees?
Ans: By creating a smart contract to calculate party royalties
Q. What does the term “Multi-party Systems” refer?
Ans: IT Company A ’s practice that transforms ecosystems using technologies, such as blockchain, digital identity, and confidential computation
Q. What is true about hashing?
Ans: Hashing is repeatable and is dependent upon the original data.
Q. A coffee producer wants to demonstrate that their products are produced using environmentally sustainable practices that respect the planet. How does the implementation of blockchain technology help to achieve the client’s goal?
Ans: by ensuring known-traveler digital identity
Q. In a blockchain, each block has a unique hash value which is dependent on the hash value of the previous block in the chain. What happens if any transaction data is changed or modified in the earlier existing blocks?
Ans: The hash values of subsequent blocks are updated as soon as they are tampered with, and the chain continues.
Q. As IT company explores an end-to-end business flow that has reconciliation between multiple parties, what would we uncover?
Ans: shared state
Q. What type of transaction cannot be stored in blocks on a blockchain?
Ans: a transaction that issues token for a carton of milk from Beach Farm in Wisconsin
Q. What is the core domain for IT Company A’s Multi-party Systems practice? Ans: digital identity
Q. Blockchain is often associated with Bitcoin and the financial services industry. However, it is applicable to almost every industry. The term Multi-party Systems better describes how the blockchain system is used. What is a benefit of a Multi-party System?
Ans: The system now owns the data and can share it as needed.
Q. What is one of the reasons to consider implementing a blockchain solution? Ans: ability to verify that data has not been tampered with since its creation
Q. How is blockchain different from traditional database models?
Ans: Blockchain can lead to increased transparency and trust in data, ultimately driving more innovation, improved productivity, and quality.
Q. How does blockchain technology help organizations when sharing data? Ans: Data can only be exchanged through a central, trusted organization.
Q. Blockchain maintains and records data and transactions in a new type of database system. This technology is used across organizations in an ecosystem and allows products’ histories to be captured as they move to the consumer. How might this technology help inter-organization processes?
Ans: by limiting data sharing only to a single party
Q. IT Company A is working with a pharmaceutical company, their transportation logistics network, and medical centers to coordinate the distribution and receipt of products. IT Company A creates a Multi- party System that tracks these shipments by capturing the unique identity of each unit as it moves from the manufacturing facility to authorized medical providers. The serial number of each item is securely captured and recorded at the point of origin and upon receipt at the final destination. How might this solution help healthcare industries achieve higher safety standards?
Ans: by minimizing counterfeit medications
Q. Shipping vast quantities of oil and gas supplies is a complex process that requires the participation of many different parties. Any delays in shipping, or possibility of fraud, across the entire supply chain could cost the industry billions of dollars. How could blockchain technology be applied to address this problem?
Ans: by creating a hash or digital fingerprint that is added to the blockchain for each document to identify any subsequent changes that have been made
Q. A software giant is enabling a city with smart parking, using real-time information captured by sensors on the vehicle and sensors in parking lots. When the vehicle leaves, data can be shared between the vehicle and parking system which will prompt a payment from the driver’s payment device stored in their account. How would the use of blockchain to store this data help reduce potential risks? Ans: by sharing data with law enforcement authorities when requested