Tag: Blockchain
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GIGO – Garbage In, Garbage Out
The principle “Garbage In, Garbage Out” (GIGO) asserts the essential link between input data quality and output reliability, emphasizing the need for careful data validation. Rooted in computing history, its relevance spans across fields, advocating for meticulous data handling to ensure accurate outcomes.
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Disintermediation
Disintermediation removes intermediaries from transaction processes, enabling direct links between producers and consumers. Initially seen in finance, its relevance has expanded with technological progress, influencing sectors such as retail and media.
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Seigniorage
Seigniorage denotes the profit made by a government from issuing currency. It not only acts as a revenue source, but also impacts inflation, debt values, and monetary policy. In the digital age, its relevance extends to cryptocurrencies and their unique economic dynamics.
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Open Web
The Open Web refers to the publicly accessible part of the internet, navigated through standardized protocols and browsers. It emphasizes interoperability, accessibility, and net neutrality, while facing challenges like privacy and security. Its future revolves around decentralization, monetization, and technological advancements.