Question

The third-party charges for validating and recording transactions in traditional transaction systems.

1.True

2.False

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Answer 1

Answer:

True

Explanation:

The third-party charges for validating and recording transactions in traditional transaction systems. The charges are nominal that every person can afford. The charges are taken by third party as their fee to maintain its credebility.

Answer 2

Explanation:

The given statement is true. In traditional transactions, a third party is generally involved for recording of transaction and for the services, they charge customer with some fee. Some examples where third party transaction are involved can be seen as insurance brokers, mortgage brokers, and online payment portals. All such service providers have either a fixed fee or variable depending upon how large the transactions are