Fintech
The _____ Act aimed to help businesses raise funds in public capital markets by minimizing regulatory requirements.
JOBS
Funding U was founded by _______.
Jeanne Tarkenton
According to Robert Merton, which of the following is not a substitute for trust?
complexity
According to Merton, as technology becomes more complex and opaque, the values of trust as an asset _____.
increases
The Securities Act of 1933 _______.
prohibited deceit, misrepresentation, and other fraud in the sale of securities
In Bitcoin, the private key is a randomly selected integer between 0 and _______.
1.15 * 10^77
When miner earns new Bitcoin it cannot be transferred until _____ new blocks have been created.
100
According to Larry Wall's June 2018 post, Visa is capable of handling _____ transactions per second and bitcoin can handle _____ transactions per second.
24,000; 7
As of the taping of this semester's interview, small businesses may borrow up to $______ from Kabbage.
250,000
A Bitcoin miner will earn _____ BTC (as of September 2020) for being the first miner to find an acceptable hash for a new block.
6.25
Not all securities offerings must be registered. Which of the following is most likely to be exempt?
An offering by the State of Georgia
According to Larry Wall, the most important difference between bitcoin and Ethereum is _____.
Ethereum's blockchain is designed to run smart contracts
The _________ made crowdfunding easier and more effective.
JOBS Act
Kabbage was co-founded by Rob Frohwein and _______.
Kathryn Petralia
The first insurance company was ________.
Lloyd's of London
The ____ family was responsible for the growth of banking in Italy.
Medici
Which of the following is not a potential problem of a blockchain splitting into two blockchains?
Those opposing the split could no longer develop apps.
According to the Robert Merton video. which of the following statements is not true?
Truly transparent services require the most trust.
Nonce means _________.
a random number used once
According to the Robert Merton video, __________ is(are) essential for economic growth and stability.
a well-functioning financial system
Venture debt ___________
allows shareholders to retain a larger percentage of equity but adds risk
Bitcoin is _______.
anonymous
Ethereum was designed to ________.
better run smart contracts
According Luke Timberlake, companies typically raise _________ in the seed round. (Note this is his experience. There are no rules that specify a dollar amount for the seed round.)
between $1 million and $5 million
According Luke Timberlake, some companies are using ___________ to allow financial institutions to trade securitized loans more efficiently.
blockchain technology
FinTech start-ups may benefit by partnering with banks because of all of the following except banks _______.
can move quickly in regard to new ideas
According Luke Timberlake, banks ___________.
can't make a profit on loans under $1 million
According to Merton, regulation exist in part to _________.
create trust
According to the Robert Merton video, the economic and financial crises of the 1970s stimulated all of the following innovations except ____________.
cryptocurrencies
According to the Robert Merton video, financial crises ______ crush financial innovation.
do not always
An advantage to selling utility tokens is that they _________.
effectively amount to the presale of the issuer's forthcoming product
The digital signature scheme in Bitcoin is based on __________.
eliptic curve cryptography
Which of the following describes itself as "a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference"?
ethereum
According Luke Timberlake,___________.
fees and time in payments is a race to the bottom.
According to Merton, _____________ is (are) inherently opaque and cannot be verified.
financial advice
Which of the following is not necessary for a well-functioning economy?
governmental corruption
In the Kabbage video, Rob Frohwen states that capital should have _______, diversity, flexibility, and permanence.
immediacy
Angel investors normally invest ____________.
in the first few rounds of capital formation
After 2007 retail investors moved more money into _____ funds than _____ funds. Merton believes this is due to a _____ in trust.
index; actively-managed; decrease
Which of the following is not a function of money?
inflation indicator
Libra ___________.
is a type of stable coin backed by Facebook
Bitcoin ______.
is an electronic payment system
True learning ___________.
is effortful and requires time
If there is a conflict the community will accept the blockchain that ________.
is the longest
According to analysis by Larry Wall, fractional reserve banking in a particular cryptocurrency would____________.
likely reduce the purchasing power of the cryptocurrency
In the equation, hash(message,R)·Q+R = s·P where R=r·P, Q=n·P, and s = hash(message,r·P)*n + r, ______ is the private key.
n
In the equation, hash(message,R)·Q+R = s·P where R=r·P, Q=n·P, and s = hash(message,r·P)*n + r, the sender of the message must provide all of the following except _________ to the community so that they can verify the equation.
n
A Bitcoin miner changes the ________ randomly to find an acceptable _________.
nonce; hash
The use of ______ governance in blockchain places the ultimate decision on whether or not to adopt a coding change in the hands of the individuals supplying the computing capacity needed to run the blockchain.
off-chain
Banks ___________.
often sell home loans to Freddie Mac
Which of the following is not likely to be a successful use case for cryptocurrencies?
payments when speed of execution is critical, like buying something in a store
Alternative lending platforms ______.
perform the credit underwriting process in near real time
Gould and Fisk ______.
printed fraudulent shares in the Erie Railroad and sold them to Vanderbilt
According to the Robert Merton video, in the 2008 financial crisis there was a loss of trust in the _____ and _____ of financial services.
providers; regulators
Larry Wall suggests that an entrepreneur can encourage an investor to provide funding on more favorable terms by _________.
providing more relevant information to the investors giving the investor greater governance power over management
The verification key is also known as the ______ key.
public
A cryptographic hash function must be all of the following except ________.
quasi-anonymous
Which of the following is not a critical component of effective learning?
reviewing notes
In the early 1800s some traders used _________ to relay stock price information between New York and Philadelphia.
semaphore flags
According to Larry Wall, one should wait for ____ blocks before regarding a bitcoin transaction to be confirmed.
six
According to Larry Wall, for blockchain to be used it must be ___________.
superior for some use cases relative to alternatives
Initial coin offerings _________.
tend to be issued by start-ups rather than mature companies tend to involve the presale of a product to be developed occur on a blockchain
According Luke Timberlake, _________ is(are) developing their own, faster inter-bank payment system.
the Federal Reserve
According Luke Timberlake, ________ allows for the instantaneous transfer of money between two parties.
the SWIFT network
The claim that blockchains are tamperproof and immutable is based on ________.
the costs of rewriting all subsequent blocks would likely exceed the economic benefits
For a FinTech innovation to be successful, ______.
the finance science behind it must be sound the technology behind it must work there must be sufficient economic benefit regulations must allow it
Using the riddle analogy to explain digital signatures in blockchain, which is considered the private key?
the mental ability of the true owner to solve the riddle
To verify a message, the community must have the verification key and be sent ______.
the message and the signed message
According to Robert Merton, to trust a model all of the following must be true except ____.
the model must be complete.
In elipitc curve cryptography, the community knows all of the following except ________.
the number of times that P was added to itself where P is the starting point
The main innovation of Satoshi Nakamoto in Bitcoin is _______.
the prevention of double spending
As of March 2018 ___________.
the question of when ICO issuance becomes a securities offering had not been settled in court
Using the riddle analogy to explain digital signatures in blockchain, which is considered the public key?
the riddle
Using the riddle analogy to explain digital signatures in blockchain, which is considered the signature?
the solution to the riddle
In order to trust a model, Robert Merton claims that one must ________.
trust the motivations of the model's creator trust the competence of the model's creator trust the data
According to Merton, trust in a person requires that the person be______.
trustworthy and competent
Which of the following is not a desirable property of currency?
unitary
Satoshi Nakamoto's true identity is _________.
unknown