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DFIN Glossary - FinTech and Web 3.0 Terms

 FinTech - DeFi - Web 3.0 Future Use

Digitlord



This DFIN Glossary is to be used for informational purposes only and intended to assist the public in understanding some of the specialized words and phrases in FinTech. This Glossary is not all inclusive,. DFIN Assumes no responsibility for errors and omissions.




Web 3.0 :  Web 3.0 elements have been around since the turn of the Century but are gaining steam at this time. This is not a new web only new technology. The end game is to remove intermediaries .  https://nkn.org/community/blog/web-3-0-examples/






Why You Need to Care About Decentralized Finance (DeFi) - also known as Web 3.0 :  In July 2021 Forbes address the power of decentralized Global financial services, powered by smart contracts and no personal intervention.    https://www.forbes.com/sites/patriciakemp/2021/07/06/why-you-need-to-care-about-decentralized-finance-defi/






DeFi = Decentralized Finance :  A movement toward open finance including banking.   All products available today will be available through non-regulated parties in some cases with a goal of removing some if not all intermediaries. Blockchain technology is generally used but if truly decentralized their should not be any rules in our opinion. https://blog.coinbase.com/a-beginners-guide-to-decentralized-finance-defi-574c68ff43c4





Can Ripple Be a Player in the NFT World: "Monica Long described NFTs as something we are betting on" the XRP draw is low cost and it is already built on a Blockchain (Decentralized Exchange).   Ripple is proven secure and that is an attraction for banks. "Ripple (XRP) is a decentralized cryptocurrency native to the RippleNet payment platform. RippleNet was created in 2012 to offer banks and financial institutions a real-time gross settlement system, allowing secure, instant financial transactions that can span the globe. XRP processes transactions extremely quickly, handling about 1,500 transactions per second compared to BTC's 15 per second."   https://decrypt.co/75520/ripple-xrp-nfts






Domino Effect on NFT DeFi and Web 3.0 Adoption: DeFi and Web 3.0 would not be possible without the current Internet Technology.  https://cointelegraph.com/news/striking-a-chord-defi-s-domino-effect-on-nfts-and-web-3-0-adoption





Digitlord :
A Digitlord functions like a Landlord but for Digital Real Estate.    https://www.sec.gov/Archives/edgar/data/1299709/000119312507071839/dex101.htm





Futures and Options Glossaries:
Chicago Mercantile Exchange (CME) is real. You may be warned that the CME is not safe when you click on this link  http://www.cme.com/market/glossary.html






What is a Premium Domain Name? :
A Domain Name is an important part of Web 3.0. Think of it as a front door or prime piece of real estate.  "For instance, consider CarInsurance.com, which sold for nearly $50 million. https://www.forbes.com/sites/forbestechcouncil/2021/07/06/what-exactly-is-a-premium-domain-name/





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