A cryptocurrency $($or crypto currency$)$ is a digital asset designed to work as a medium of

exchange using cryptography to secure the transactions, control the creation of additional

units and verify the transfer of assets $($verify$,$ create units and transfer$)$ by using

blockchain technology. It is a digital currency in which encryption techniques are used to

regulate the generation of units of currency and verify the transfer of funds, its is operating

independently of a central bank.

A blockchain is a distributed database or ledger shared among a computer network's

nodes. Blockchain is a type of shared database that differs from a typical database in

the way it stores information; Blockchain store data in blocks linked together via

cryptography.

Blockchain technology is a platform that enables cryptocurrency to operate. To drill down

the intuition, products and services built using the blockchain technology don$$t

necessarily include the feature $$cryptocurrency$.$ But all products with the feature

$$cryptocurrency$$ today are necessarily built using blockchain technology.

Required;

a$)$ Differentiate between blockchain technology and cryptocurrency

b$)$ Discuss the common uses for blockchain within financial services.

c$)$ With reference to Crypto Accounting, Valuation, Reporting, and Disclosure, identify

how a lack of consistent accounting guidance and frameworks for crypto assets

might cause confusion on the part of external users.