Executive Solution Overview
Please use template provided **files (1)** – ## A2Template.docx **## A2Template.docx** **Assignment 2** **Description and Deliverable** After our last assignment, we discussed modern payment flow in the US, new opportunities in payments, risks in payment systems, as well as blockchain and payments. …
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Please use template provided
**files (1)**
– ## A2Template.docx
**## A2Template.docx**
**Assignment 2**
**Description and Deliverable**
After our last assignment, we discussed modern payment flow in the US, new opportunities in payments, risks in payment systems, as well as blockchain and payments. In this assignment, you will be asked to review and revisit some of the concepts we learned. There are 8 questions in this assignment. The points each question is worth are listed next to it.
The sections that require your answers are marked in blue with “[Insert your answer here]”. Please make sure to insert your answers to those fields. Please leave the color unchanged for your answers (i.e., please leave it in blue).
You will be graded based on the quality of your answers to the raised questions.
**Please make sure to use your own words in answering the following questions. Directly copying sentences from the slides or transcripts will not receive credit.**
**Please name your finished Word document as “[FirstName] [LastName] Assignment 2.docx” and submit it to the assignment folder.**
**Assignment Questions**
1. In your own words, in 2-5 sentences, please describe what is instant payment and how is it different from existing peer-to-peer apps like Zelle or Venmo
(10 points).
[Insert your answer here]
2. In your own words, in 2-5 sentences, please explain two main differences between BNPL (Buy Now, Pay Later) and traditional credit cards
(10 points).
[Insert your answer here]
3. In your own words, in 2-5 sentences, please explain what is a digital wallet, what is a super app, and what are the main differences between a digital wallet and a super app
(10 points).
[Insert your answer here]
4. In your own words, in 2-5 sentences, please explain what is Central Bank Digital Currency (CBDC) as well as one similarity and one difference between CBDCs and cryptocurrencies
(10 points).
[Insert your answer here]
5. In your own words, in 2-5 sentences, please explain what is credit risk, what is liquidity risk, and what is the biggest difference between the two
(10 points).
[Insert your answer here]
6. In your own words, in 2-5 sentences, please explain two mechanisms that help protect data stored on blockchains from modification
(10 points).
[Insert your answer here]
7. In your own words, in 5-7 sentences, please explain six main differences between wire transfer and ACH (Automated Clearing House)
(20 points).
[Insert your answer here]
8. In your own words, in 5-7 sentences, please explain six main differences between bank-based payments and bitcoin-based payments
(20 points).
[Insert your answer here]
**## A2Template.docx**
**Assignment 2**
**Description and Deliverable**
After our last assignment, we discussed modern payment flow in the US, new opportunities in payments, risks in payment systems, as well as blockchain and payments. In this assignment, you will be asked to review and revisit some of the concepts we learned. There are 8 questions in this assignment. The points each question is worth are listed next to it.
The sections that require your answers are marked in blue with “[Insert your answer here]”. Please make sure to insert your answers to those fields. Please leave the color unchanged for your answers (i.e., please leave it in blue).
You will be graded based on the quality of your answers to the raised questions.
**Please make sure to use your own words in answering the following questions. Directly copying sentences from the slides or transcripts will not receive credit.**
**Please name your finished Word document as “[FirstName] [LastName] Assignment 2.docx” and submit it to the assignment folder.**
**Assignment Questions**
1. In your own words, in 2-5 sentences, please describe what is instant payment and how is it different from existing peer-to-peer apps like Zelle or Venmo
(10 points).
[Insert your answer here]
2. In your own words, in 2-5 sentences, please explain two main differences between BNPL (Buy Now, Pay Later) and traditional credit cards
(10 points).
[Insert your answer here]
3. In your own words, in 2-5 sentences, please explain what is a digital wallet, what is a super app, and what are the main differences between a digital wallet and a super app
(10 points).
[Insert your answer here]
4. In your own words, in 2-5 sentences, please explain what is Central Bank Digital Currency (CBDC) as well as one similarity and one difference between CBDCs and cryptocurrencies
(10 points).
[Insert your answer here]
5. In your own words, in 2-5 sentences, please explain what is credit risk, what is liquidity risk, and what is the biggest difference between the two
(10 points).
[Insert your answer here]
6. In your own words, in 2-5 sentences, please explain two mechanisms that help protect data stored on blockchains from modification
(10 points).
[Insert your answer here]
7. In your own words, in 5-7 sentences, please explain six main differences between wire transfer and ACH (Automated Clearing House)
(20 points).
[Insert your answer here]
8. In your own words, in 5-7 sentences, please explain six main differences between bank-based payments and bitcoin-based payments
(20 points).
[Insert your answer here]
