- Any cryptocurrency other than Bitcoin.
- Artificial Intelligence (“AI”)
- Often considered a branch of computer science, AI encompasses the development of computer systems and processes that simulate human intelligence processes. Machine Learning and Deep Learning are subsets of AI.
- Augmented Reality (“AR”)
- A technology that creates a composite view for users by overlaying digital information on top of the real, physical world. Pokémon Go uses AR to overlay digital Pokémon and other items as though they were present in the user’s physical world.
- A digital icon or figure that is used to represent an individual within an environment. Avatars are becoming increasingly customizable, and companies are working to making avatars usable across various virtual environments and technology platforms.
- A digital coin created in 2009 to be a “peer-to-peer electronic cash system,” that many view as a store of value (like gold). It is based off blockchain making it decentralized, immutable, and open. The number of Bitcoin is hard capped such that there will never be more than 21 million Bitcoin. See the Bitcoin whitepaper for more detail.
- A distributed digital ledger that consists of linked transactions stored on a network of computers. The transactions are decentralized, immutable, and fully transparent. The shared ledger allows for the recording and tracking of both tangible and intangible assets. Blockchain technology is commonly used to store data for cryptocurrency transactions but is not limited to this use.
- A network of remote servers that are connected to work as a single ecosystem. The system can store or manage data, run applications, or deliver content (e.g., streaming videos). This system stores data online, allowing users to access the data from any internet-capable device as opposed to tethered to a personal computer.
- A cryptocurrency that has its own blockchain, acts as money, and can be mined (e.g., Proof-of-Work or Proof-of-Stake). Popular coin examples include Bitcoin, Litecoin, and ETH – the coin built on the Ethereum blockchain.
- Creator Economy
- Economy facilitated by software and finance tools that allow independent content creators to monetize and profit from their creations. Examples of platforms that facilitate the Creator Economy include TikTok, YouTube, Roblox and Unity.
- Cryptocurrency (“Crypto”)
- A digital or virtual currency that is secured such that it is very difficult to counterfeit or double spend. It is a digital asset that can come in the form of coins or tokens that is housed on a disperse network of computers.
- Decentralized Autonomous Organization (“DAO”)
- An internet-native organization that is collectively owned and managed by its members. A defining characteristic of this governance system is that it has no central leadership, with decisions made from the bottom-up. The organization is governed by the community and may follow a specific set of rules that are enforced on a blockchain using smart contracts. Many have built-in treasures that can only be accessed under the approval of the organization’s members with fully transparent financial transactions.
- A decentralized virtual reality platform powered by the Ethereum blockchain where users can create, experience, and monetize their content and applications. It contains a finite amount of 3D virtual space, which makes up non-fungible digital assets called LAND. LAND is maintained in an Ethereum smart contract and can be purchased with MANA, the official cryptocurrency token of Decentraland. See the Decentraland whitepaper for more detail.
- Process by which activities of an organization are delegated away from a central authority. In blockchain, it refers to the transfer of control and decision-making away from a centralized entity to a distributed network. In this network, each member has a copy of the same data through the distributed ledger. This reduces reliance on trust and improves data reconciliation.
Kelsey Syvrud, PhD
January 10, 2022