Read the following passage carefully and answer the questions based on the passage:
Blockchain technology, which was first created for cryptocurrencies like Bitcoin, has the potential to revolutionize the banking industry by providing a decentralized, safe, and open way to handle financial transactions. Blockchain minimizes reliance on middlemen, lowers operating costs, and speeds up transactions—especially for international payments—by using a distributed network. However, there are a number of obstacles to overcome when integrating blockchain technology into international finance. These include the need for banks to reframe their responsibilities and retrain employees, security flaws, and regulatory uncertainty. To enable safe and effective adoption, strong legal frameworks must be developed. Despite these challenges, there is still a lot of interest in blockchain technology; estimates suggest that the banking industry's blockchain market will grow to $22.5 billion by 2026.
Why does the passage say that strong legal frameworks are needed for blockchain adoption?
Show answer & explanation
Correct answer: D
Explanation
The passage states, "To enable safe and effective adoption, strong legal frameworks must be developed." This directly supports option ‘D’, which explains that these frameworks are needed to ensure safety in implementation and guide institutions toward safe and efficient use.