U | Glossary

Ultimate Beneficial Ownership (UBO)

Ultimate Beneficial Ownership (UBO) refers to the individual(s) who ultimately own or control a company or asset, either directly or indirectly, typically by holding a significant percentage of ownership (often 25% or more) or through other means of influence.

Unauthorized Transaction

An unauthorized transaction refers to a financial activity conducted without the consent or knowledge of the account holder. This can occur due to various reasons, such as fraud, identity theft, or errors in processing.

Unconfirmed

In the context of cryptocurrency, "unconfirmed" typically refers to transactions that have been broadcast to the network but have not yet been included in a block and confirmed by the blockchain

Underwriting

Underwriting is the process used by financial institutions, such as banks and insurance companies, to assess the risk and determine the terms of a financial transaction, such as a loan, insurance policy, or investment.

United States House Committee On Financial Services

The United States House Committee on Financial Services is a standing committee of the U.S. House of Representatives. It oversees all components of the nation's financial services sector, including banking, insurance, real estate, public and assisted housing, and securities. The committee is responsible for ensuring the stability and integrity of the financial system, protecting consumers, and promoting economic growth through legislative and regulatory measures. It plays a crucial role in shaping policies related to monetary policy, international finance, and the overall economic health of the country.

Unit of Account

A unit of account is a standard numerical monetary unit of measurement that provides a consistent way to value goods, services, and other transactions.

Uni token

The UNI token is the native cryptocurrency of the Uniswap platform, a decentralized exchange (DEX) built on the Ethereum blockchain.

Unregulated

"Unregulated" refers to a state or condition where there are no formal rules, laws, or controls governing a particular activity, industry, or behavior. In an unregulated environment, entities operate without oversight or restrictions, which can lead to both innovation and potential risks due to the lack of standardized practices and accountability.

Unstoppable domains

Unstoppable Domains is a blockchain-based platform that allows users to create and manage decentralized domain names. These domains are stored on the blockchain, making them resistant to censorship and centralized control. Users can use these domains for various purposes, including hosting websites, creating decentralized applications (dApps), and simplifying cryptocurrency transactions by replacing complex wallet addresses with easy-to-remember names.

Use cases

Crypto use cases span multiple industries, offering innovative solutions through blockchain technology. Key applications include decentralized finance (DeFi) for lending and trading without intermediaries, smart contracts to automate agreements, and supply chain management for transparency and fraud reduction.

User Authentication

User authentication is a security process that verifies the identity of a user attempting to access a system, application, or network. It typically involves the use of credentials such as passwords, PINs, biometric data, or security tokens to ensure that the user is who they claim to be. This process is crucial for protecting sensitive information and preventing unauthorized access.

Utility Token

A utility token is a type of digital asset that provides users with access to a product or service within a blockchain-based ecosystem.

Glossary