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Value going straight from one person to another with no intermediary holding it along the way, at any hour, across any border.
Sending through a payment app, except no institution is warehousing the money overnight in between.
The promise that one token equals one dollar, and the machinery that keeps it there. A peg holds because the issuer will always redeem a token for a real dollar, so any gap gets arbitraged away within minutes.
A currency board, like the Hong Kong dollar's link to the US dollar, where a reserve pledge rather than market sentiment sets the rate.
A fake site, message or support agent designed to get your seed phrase, password or approval. In crypto it is the leading cause of loss by a distance, well ahead of any technical exploit.
Identical, and just as old. The difference is that a crypto payment cannot be reversed once it goes.
The plastic. Still the only thing that works at some terminals, and the only thing you can hand over at a restaurant counter.
The card in your wallet. Unchanged for fifty years, and still stubbornly necessary.
Brazil's instant payment system, free for individuals and available around the clock. It went from launch to near-universal in a few years.
An instant payment scheme run by the central bank itself rather than by the banks.
The secret number that proves a wallet is yours and signs every transaction. Anyone who has it owns the money. It is never typed into a website, ever.
Not your PIN. The actual key to the safety deposit box, where a copy is as good as the original.
Thailand's national instant transfer and QR standard, linked to a phone number or ID number and accepted almost everywhere, including markets and taxis.
A domestic instant payment scheme with a single national QR standard on top.
The rules a system runs on, usually as published code. In crypto the protocol is the institution, which is why people say 'the protocol decides'.
Card scheme rules. Visa's rulebook governs a payment far more directly than your bank's opinion does.
The shareable half of the pair, which your wallet address is derived from. Safe to post anywhere. It lets people send to you and lets anyone verify your signatures.
Your account number and sort code. You give it out precisely so people can pay you.
All 9 terms shown.