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How is blockchain technology described in relation to transactions?
AA private ledger held by one bank only
BA paper record kept at the head office
CAn annual audit of the year's transactions
DA decentralized public ledger that keeps expanding
Answer & Solution
Correct answer: D. A decentralized public ledger that keeps expanding
1. Blockchain technology is a decentralized public ledger of all transactions that have ever been executed.
2. It is constantly expanding, because completed blocks are added to the ledger with each new transaction.
3. Its potential in operations is to automate processes covering multiple transactions among several participating organizations.
4. Being decentralized, it is the opposite of a private ledger held by one institution, which rules option A out.
_Source: OpenStax Introduction to Business (CC BY 4.0), Ch 10 "Achieving World-Class Operations Management", section Key Terms_
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