Unit Review & Progress Test

Unit review — Blockchain, Crypto & Decentralised Finance

Al finalizar esta unidad, deberías ser capaz de participar en debates complejos sobre tecnología financiera, utilizando un léxico especializado y preciso. Habrás desarrollado la habilidad de expresar conceptos abstractos como la descentralización y la volatilidad de forma fluida, manteniendo un registro profesional adecuado para entornos de negocios o académicos.

Asimismo, habrás consolidado el uso de mecanismos de cohesión avanzados para evitar la repetición y mejorar la fluidez de tus textos. Serás capaz de conectar ideas complejas mediante la elipsis, la sustitución y las cadenas de referencia, elementos cruciales para alcanzar el nivel C1 y demostrar control sobre la estructura discursiva.

Grammar consolidation

Part 1: Transformations Rewrite the sentences using the word in bold so that the meaning remains the same. Do not change the word provided.

1. Digital currencies are becoming more popular, but many people still find them confusing. WHICH The popularity of digital currencies is growing, _____ many people still find them confusing.

2. I didn't buy the Bitcoin, and neither did my business partner. SO My business partner didn't buy the Bitcoin, and ____.

3. If we don't implement blockchain technology, we will lose our competitive edge. HAD ____ implemented blockchain technology, we would not have lost our competitive edge.

Part 2: Error Correction Identify and correct the error in each sentence related to ellipsis or substitution.

4. Many investors are looking for stability; others, however, are seeking high returns. (Identify if there is an error or if it is correct).
5. We need to decentralise the ledger. If we do so, we will increase transparency. (Rewrite using substitution to avoid repeating "decentralise the ledger").
6. The CEO mentioned the new crypto protocol, but she didn't explain it. (Rewrite using ellipsis to remove the redundant part).

Part 3: Controlled Rewriting Complete the second sentence so that it has a similar meaning to the first, using the words provided.

7. "I'll invest in Ethereum," said Mark. "I'll also invest in Solana." (Use BOTH) Mark said he would ____.

8. Most people think blockchain is just for finance, but it has many other uses. (Use WHICH) Blockchain has many other uses, ____.

9. He didn't understand the smart contract, so he didn't sign it. (Use NEITHER) He didn't understand the smart contract, and ____.

10. The volatility of the market is the main problem. (Use THAT) The main problem is ____.

Vocabulary activation

A. Word Formation Complete the sentences by changing the form of the word in capitals.

1. The ____ of the new protocol caused significant market fluctuations. (INTRODUCE)
2. Many experts argue that the current crypto market is highly ____. (VOLATILE)
3. The ____ of the blockchain ensures that data cannot be altered. (IMMUTABLE)

B. Collocations Select the correct collocation to complete the sentence.

4. Investors often ____ huge risks when trading with highly volatile assets. a) take / b) make / c) do
5. The company aims to ____ a new decentralized application by next year. a) set up / b) launch / c) perform
6. We need to ____ the risks associated with smart contract vulnerabilities. a) mitigate / b) lower / c) diminish

C. Register & Context Choose the most appropriate professional term for the context.

7. The ____ of the blockchain technology has disrupted traditional banking. a) advent / b) arrival / c) coming
8. A ____ ledger is a record that is shared among all participants in a network. a) distributed / b) spread / q) scattered
9. To ensure security, we must use ____ encryption methods. a) robust / b) strong / c) heavy

D. Mixed Task Match the term to its definition.

10. Mining | A. A system of peer-to-peer financial transactions without central intermediaries.
11. DeFi | B. The process of validating transactions and creating new blocks.
12. Ledger | C. A digital record of all transactions in a blockchain.

Integrated skills task

Reading Source Text

The rise of Decentralised Finance (DeFi) represents a paradigm shift in how we perceive value and trust. Traditionally, financial institutions have acted as intermediaries, verifying transactions and managing risks. However, through the use of smart contracts on a blockchain, these functions can be automated, removing the need for a central authority. While this offers unparalleled transparency and accessibility, it also introduces significant risks. The lack of regulation means that if a protocol is exploited, there is often no recourse for the user. Furthermore, the technical complexity of managing digital wallets can lead to irreversible errors. As we move towards a more decentralised future, the balance between innovation and consumer protection remains the central debate of the financial world.

Writing Task (Instrucciones en español)

Basándote en el texto anterior, escribe un ensayo de opinión (180-220 palabras). Debes analizar si los beneficios de la descentralización (transparencia y accesibilidad) compensan los riesgos mencionados (falta de regulación y errores técnicos). Utiliza un registro formal y emplea vocabulario avanzado de la unidad.

Speaking checkpoint

Responde a estas preguntas de forma oral para practicar tu fluidez y capacidad de argumentación de nivel C1.

1. Compare: Compare the traditional banking system with the concept of DeFi. What are the fundamental differences?
2. Speculate: How do you think the widespread adoption of cryptocurrencies might change the concept of "national sovereignty" in the next 50 years?
3. Evaluate: Evaluate the statement: "The volatility of cryptocurrency makes it an unsuitable medium of exchange for everyday transactions."
4. Justify: If you were a government regulator, would you prioritise innovation or consumer protection? Justify your choice.
5. Speculate: What could happen to the global economy if a major blockchain network were to suffer a catastrophic security breach?
6. Evaluate: To what extent do you believe that "decentralisation" is a realistic goal, rather than just a technological trend?

Self-assessment rubric

Answer key

Grammar consolidation 1. ...which many people still find confusing. 2. ...so did my business partner. 3. Had we not implemented... 4. Correct (Ellipsis of "they were seeking high returns"). 5. We need to decentralise the ledger. If we do so... -> We need to decentralise the ledger; doing so will increase transparency. (Or: ...to do so...) 6. The CEO mentioned the new crypto protocol, but didn't explain it. 7. ...he would both invest in Ethereum and Solana. 8. ...which is that blockchain has many other uses. 9. ...neither did he. 10. ...that the volatility of the market is the main problem.

Vocabulary activation 1. Introduction 2. Volatile 3. Immutability 4. a) take 5. b) launch 6. a) mitigate 7. a) advent 8. a) distributed 9. a) robust 10. B 11. A 12. C