What is a Stablecoin?
A stablecoin is a type of crypto currency that is designed to be pegged to a cryptocurrency, fiat money, or to exchange-traded commodities.
What is a Decentralised Exchange (DEX)?
Decentralized exchanges or DEX for short, are a type of cryptocurrency exchange which allow for direct cryptocurrency exchanges of tokens to take place online securely and without the need for a middleman like a bank or a government. To use a DEX: Go to the DEX’s website (e.g. uniswap.io) Connect your wallet to the DEX … Read more
What is Decentralized Finance (DeFi)?
Decentralised finance (Defi) is a type of financial application that runs on the blockchain without the need for middle men. A defi application contains a set of financial rules that are defined in a smart contract. This smart contract is then deployed to a blockchain where it is stored and executed by users. Activities like lending, borrowing, trading, saving etc. can all be done using decentralized finance protocols without the need for a middle man, like a bank, government, or other financial institution.
What is a Cold Wallet?
Cold wallets (also called hardware wallets) are physical devices that look similar to a USB drive. This kind of wallet can help protect your crypto from hacking and theft
What is a Hot Wallet?
A hot wallet is a software-based cryptocurrency wallet that is connected to the Internet. While more convenient for quickly accessing your crypto, these wallets are a bit more susceptible to hacking and cybersecurity attacks than offline wallets.
What is a Fork?
A fork is a term used to describe a situation where a blockchain’s users make changes to its rules. These changes to the rules of a blockchain often result in two new paths — one that follows the old rules, and a new blockchain that splits off from the previous one that follows the new rules. An … Read more
What is HODL’ing?
HODL, as an acronym for “hold on for dear life,” has become a mantra among crypto enthusiasts denoting a long-term approach to cryptocurrency investment. It refers to a passive investment strategy in which people buy and hold onto cryptocurrency — instead of trading it — in the hopes that it increases in value.
How the new emerging blockchains will destroy traditional banking and finance business models?
The internet drove the cost of transferring information to near zero. This destroyed the business models of traditional media and retail businesses. The blockchain drives the cost of transferring value to near zero. This will destroy the business models of traditional finance and banking businesses. Example: Traditional banks term deposits average less than 5% in … Read more
Why we need multiple perspectives when designing systems?
The brain is a pattern recognition engine. Cognitive distortions are thinking patterns that lead to the misrepresentation of the reality. People from similar disciplines tend to have the same cognitive distortions / blind spots.
How we use Visual Thinking approaches in designing e-Government
Traditional approaches to system design don’t work well for complex e-government projects. There tends to be a lot of time and effort spent planning and designing systems based on unvalidated assumptions. There is a tendency to try to do too much and given the sheer size, scope and complexity of government systems, this is a … Read more