Terminology
The table below is a list of terms and their meanings, to assit your understanding of the content of this publication.
Term |
Meaning |
|---|---|
The Client |
The ghostwriter and consulting firm associated with this document have a policy to safeguard their client’s identity. Henceforth their client will be identified as The Client. |
“Chain” and / or “On Chain” |
A shortened term for the word “blockchain” and / or “on the blockchain”. A growing list of records called blocks which are linked together using cryptography. |
HELOC |
A Home Equity Line of Credit (HELOC) is a line of credit that uses the equity you have in your home as collateral. The amount of credit available to you is dependent on the equity in your home and credit score and debt-to-income ratio. Because HELOCs are secured by an asset they tend to have higher credit limits and much better interest rates than credit cards or personal loans. |
OnRamp |
The process of onboarding a new customer typically by having a web service operate independently of a core web service. Through user engagement with the first level (usually a free service) a shortlist and more concentrated user base will be generated. From this pool the core web service can be cross or upsold. |
Fintech |
A portmanteau of «financial technology» is the application of new technological advancements to products and services in the financial industry. |
Cliff Vesting |
Cliff Vesting is the process by which contributors of the work are remunerated with equity in the project deliverable(s) (not solely currency). |
Web 2.0 |
Refers to websites that emphasize user-generated content and ease of use - participatory culture and interoperability (i.e. compatibility with other products and systems and devices) for end users. Examples include collaborative consumption platforms such as Facebook and YouTube. |
Web3 |
A new iteration of the Web-based on blockchain technology. Incorporates decentralization and token-based economics. Includes decentralized web-apps (DApps) and finance (or DeFi). |
DAO |
A Decentralized Autonomous Organization (DAO) is an organization represented by rules encoded as a computer program that is transparent and controlled by the organization members and not influenced by a central government - in other words they are member-owned communities without centralized leadership. |