Economywatch - BIZFINANCE LEXICON

• Blockchain: a system in which a record of transactions, especially those made in a cryptocurrency, is maintained across computers that are linked in a peer-to-peer network.
• Crypto Exchange: A platform for buying and selling digital currency. For instance, customers may trade one digital currency for another, or buy digital currency using "fiat currency" (such as the U.S. dollar).
• Fiat Currency: Any currency declared by a government to be legal tender.
• Digital Currency: A form of currency that is available only in digital or electronic form.
• Digital Wallet: Wallets are software programs that allow people to “store” their cryptocurrency, by storing various components of cryptocurrency transactions - such as private keys, public keys, and addresses - that allow the user to gain access to the currency. These wallets come in many forms, including web-based, desktop, mobile, paper, and hardware.
• Stablecoin: A digital currency that pegs its value to an external reference, typically the U.S. dollar.
• Virtual Currency: A digital representation of value used as a medium of exchange, a unit of account, or a store of value, but does not have legal tender status in the United States. Cryptocurrencies are considered to be virtual currencies.
• Metaverse: Online virtual worlds that stand alone or are interconnected. These virtual worlds provide users with an immersive experience by utilizing virtual or augmented reality technologies.
• Non-fungible Token (NFT): A digital certificate of ownership that represents a digital or physical asset. An NFT has a unique code that allows it to be identified as something that can be digitally-owned. Think of NFTs as digital ownership of something like art work, sports memorabilia, photos, etc.

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