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According to Consensys, which of the following are benefits of blockchain for finance (pick two)?

A.

Faster claims processing

Answers
A.

Faster claims processing

B.

More reactive market

Answers
B.

More reactive market

C.

Streamlined processes

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C.

Streamlined processes

D.

Access to international markets

Answers
D.

Access to international markets

Suggested answer: C, D

Explanation:

According to ConsenSys, blockchain offers various benefits for finance, including streamlined processes and access to international markets. These benefits enable financial institutions to operate more efficiently and expand their services globally.

Key Details:

Streamlined Processes: Blockchain eliminates intermediaries, automates workflows through smart contracts, and reduces paperwork, resulting in faster and more efficient financial transactions and record-keeping.

Access to International Markets: Blockchain facilitates cross-border transactions and reduces the barriers associated with currency exchange and international settlements, allowing financial institutions to expand their reach and provide services to a global audience.

Operational Efficiency: By automating and digitizing various financial processes, blockchain reduces costs, enhances accuracy, and simplifies compliance, making it easier for financial institutions to operate internationally.

Therefore, C. Streamlined processes and D. Access to international markets are the correct answers, as these align with the benefits of blockchain for finance according to ConsenSys.

asked 24/10/2024
Ramon Vieira da Rocha
37 questions
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