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Fiat

This is a currency belonging to a particular nation-state or group of nation-states that has no intrinsic value but is established as money by the government to be used for the payment of goods & services. Its acceptance by the public gives it value.

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Decentralised Identifier

A Decentralised Identifier (DID) is a self-owned, globally unique ID issued by an autonomous decentralised entity, used as proof of ownership or identity. Unlike traditional identifiers such as email addresses or usernames, DIDs are not controlled by central authorities, ensuring greater privacy and security. It is often stored on decentralised networks, ensuring immutability and tamper resistance. DIDs can be used across different platforms and services allowing users to only share the specific details required for verification, protecting their personal information

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Distributed Ledger

A distributed ledger is a digital database that is stored across multiple nodes in a network. Unlike centralised databases, which are controlled by a single authority, distributed ledgers allow all participants in the network to maintain a shared and synchronised copy of the data. Key characteristics of distributed ledgers:

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