Chapter 14 – Optimizing Blockchains with AI
1. Cryptocurrency is the only use of blockchains today. (Yes | No)
No. IBM HyperLedger, for example, uses blockchains to organize secure transactions in a supply chain environment.
2. Mining blockchains can be lucrative. (Yes | No)
Yes. But it is a risk, like any other mining operation. Some companies have huge resources to mine cryptocurrency, meaning that they can beat smaller competitors to creating a block.
3. Using blockchains for companies cannot be applied to sales. (Yes | No)
No. False. Blockchain cloud platforms provide smart contracts and a secure way of managing transactions during a sales process.
4. Smart contracts for blockchains are more accessible to write than standard offline contracts. (Yes | No)
Yes. If they are standard contracts, this speeds the transaction up.
No. If the transaction is complex and requires customization, a lawyer will have to write the contract, which can then only be used on a blockchain cloud platform.
5. Once a block is in a blockchain network, everyone in the network can read the content. (Yes | No)
Yes if no privacy rule has been enforced.
No. IBM Hyperledger, for example, provides privacy functions.
6. A block in a blockchain guarantees that absolutely no fraud is possible. (Yes | No)
Yes. A block in a blockchain can never be changed again, avoiding fraud. Nobody can tamper with the data.
No. If the transaction is illegal in the first place, then the block will be fraudulent as well.
7. There is only one way of applying Bayes' theorem. (Yes | No)
No. There are many variations of Bayes Theorem. Using Naive Bayes, for example, avoids the conditional probability constraint. But another approach could use conditional probability.
8. Training a Naive Bayes dataset requires a standard function. (Yes | No)
No. Gaussian functions, for example, can be used to calculate Naive Bayes algorithms, among others.
9. Machine learning algorithms will not change the intrinsic nature of the corporate business. (Yes | No)
No. False. Machine learning will disrupt every area of businesses as algorithms spread through the company, optimizing processes.
