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Vocabulary to add to your compliance lexicon

Compliance Week | September 10, 2018

A quick look at of some of the terminology associated with emerging technology and its application to governance, risk, and compliance. Instead of organizing this glossary alphabetically, we’ve started with the simplest terms before moving to more complex ones.

Blockchain: A storage and transfer protocol for assets that is the architectural backbone of Bitcoin and other virtual currencies. It is a decentralized, distributed digital ledger that can track any digitized asset (securities, deeds, media, intellectual property, etc.), recording and verifying transactions across a large network of computer “nodes.” The distributed nature of the system facilitates secure online transactions while ensuring that no single bad actor in the network can tamper with the rules, timing, and execution of a given transaction.

Cloud: Common vernacular for offsite, decentralized storage arrays used to park, share, retrieve, back up, and manage...

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