Glossary

 

Smart Contract

A smart contract is a piece of computer code that is capable of monitoring, executing and enforcing an agreement. On the one hand, code that states: “if X occurs then do Y” is not a new concept. It is how conventional code has long interacted with existing systems. Monthly direct debits out of a bank account for example. However, a smart contract takes such coding, and combines it with the potential of the blockchain to interact with multiple financial systems, asset registers and more.

Fractional Ownership

Fractional ownership is a method in which several unrelated parties can share in, and mitigate the risk of, ownership of a high-value tangible asset, usually a jet, yacht or piece of resort real estate. It can be done for strictly monetary reasons, but typically there is some amount of personal access involved.

Peer 2 Peer

Peer-to-peer lending, sometimes abbreviated P2P lending, is the practice of lending money to individuals or businesses through online services that match lenders with borrowers.

Liquidate

In the investments arena, liquidation occurs when an investor decides to close out his or her position on a particular asset or security. An investor that is long a stock may decide to sell some or all of the shares held in his portfolio for cash. Liquidating an asset is carried out when an investor or portfolio manager needs the cash to re-allocate funds or re-balance the portfolio. An asset that is not performing well in the markets may also be partially or fully liquidated to minimize or avoid losses. An investor who needs cash to fulfill other non-investment obligations, such as bill payments, vacation expenses, car purchase, tuition fees, etc. may opt to liquidate his assets.

Blockchain

A blockchain is a continuously growing list of records, called blocks, which are linked and secured using cryptography. Each block typically contains a cryptographic copy of the previous block, a timestamp and the transaction data. By design, a blockchain is resistant to modification of the data. It is "an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way". For use as a distributed ledger, a blockchain is typically managed by a peer-to-peer network collectively adhering to a protocol for inter-node communication and validating new blocks. Once recorded, the data in any given block cannot be altered retroactively without alteration of all subsequent blocks, which requires consensus of the network majority.

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Smart Contract

A smart contract is a piece of computer code that is capable of monitoring, executing and enforcing an agreement. On the one hand, code that states: “if X occurs then do Y” is not a new concept. It is how conventional code has long interacted with existing systems. Monthly direct debits out of a bank account for example. However, a smart contract takes such coding, and combines it with the potential of the blockchain to interact with multiple financial systems, asset registers and more.

Smart Contract

A smart contract is a piece of computer code that is capable of monitoring, executing and enforcing an agreement. On the one hand, code that states: “if X occurs then do Y” is not a new concept. It is how conventional code has long interacted with existing systems. Monthly direct debits out of a bank account for example. However, a smart contract takes such coding, and combines it with the potential of the blockchain to interact with multiple financial systems, asset registers and more.

Smart Contract

A smart contract is a piece of computer code that is capable of monitoring, executing and enforcing an agreement. On the one hand, code that states: “if X occurs then do Y” is not a new concept. It is how conventional code has long interacted with existing systems. Monthly direct debits out of a bank account for example. However, a smart contract takes such coding, and combines it with the potential of the blockchain to interact with multiple financial systems, asset registers and more.

Smart Contract

A smart contract is a piece of computer code that is capable of monitoring, executing and enforcing an agreement. On the one hand, code that states: “if X occurs then do Y” is not a new concept. It is how conventional code has long interacted with existing systems. Monthly direct debits out of a bank account for example. However, a smart contract takes such coding, and combines it with the potential of the blockchain to interact with multiple financial systems, asset registers and more.

Smart Contract

A smart contract is a piece of computer code that is capable of monitoring, executing and enforcing an agreement. On the one hand, code that states: “if X occurs then do Y” is not a new concept. It is how conventional code has long interacted with existing systems. Monthly direct debits out of a bank account for example. However, a smart contract takes such coding, and combines it with the potential of the blockchain to interact with multiple financial systems, asset registers and more.