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An organisation run by token holder votes that smart contracts then execute automatically. The decision and its implementation are the same action.
A co-operative or a shareholder vote, if the resolution carried itself out the moment it passed.
Financial services built as open code rather than as companies. Lending, exchange and yield with no application form, and equally no support desk and no deposit insurance.
The whole banking product set, unbundled and rebuilt as software anyone can use or fork.
When a stablecoin slips away from its dollar value, usually because the market doubts the reserves behind it. Most depegs are brief and recover. Some never do.
A bank run. The deposits were only ever worth what the assets behind them could be sold for that afternoon.
Malaysia's instant transfer and QR scheme, reaching bank accounts and e-wallets through one code.
Sending tiny amounts to many wallets, either to track how the funds move afterwards or to set up an address poisoning attempt.
When a terminal abroad offers to charge you in your home currency instead of the local one. It sounds helpful and it is almost always the worse rate, because the merchant's provider sets it and keeps the margin.
Identical, and just as costly. The rule of thumb is unchanged: always choose the local currency.
All 7 terms shown.