With reference to ‘Bitcoins’ sometimes seen in the news, which of the following statements is/are correct?
- Bitcoins are tracked by the Central Banks of the countries.
- Anyone with a Bitcoin address can send and receive Bitcoins from anyone else with a Bitcoin address.
- Online payments can be sent without either side knowing the identity of the other.
Select the correct answer using the code given below.
Detailed Explanation:
Answer: Option 2 — 2 and 3 only
❌ Statement 1 – Incorrect: Bitcoins are not tracked by Central Banks. Bitcoin operates on a decentralized blockchain network without central authority oversight. Central Banks do not maintain or monitor Bitcoin transactions.
✅ Statement 2 – Correct: Anyone with a Bitcoin address can send and receive Bitcoins from anyone else with a Bitcoin address. No intermediary or bank approval is required for peer-to-peer transactions.
✅ Statement 3 – Correct: Online payments can be sent without either side knowing the identity of the other. Bitcoin addresses are pseudonymous—only the addresses appear on the blockchain, not the real identities of users.
Question 7 of 7 Blockchain Technology
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