Ethereum is a decentralized open-source blockchain-based cryptocurrency platform featuring smart contract functionality
Privacy coins are a category of cryptocurrencies that enable private and anonymous blockchain transactions by obscuring all transaction information, including amount, sender and receiver. The techniques used to achieve this anonymity vary by privacy coin.
A cryptocurrency is a digital asset that is designed as a medium of exchange and is secured in a computerized database using strong cryptography.
Bitcoin is a decentralized digital currency operating on a blockchain network and requires no intermediaries or central authority. Bitcoins are created as a “reward” for facilitating the network to function - such activity is known as “mining”.
A smart contract is a self-executing computer program that enforces a defined outcome when certain agreed-upon conditions are fulfilled.
Customer Due Diligence (CDD)
Customer due diligence (CDD) is a process that collects relevant information about a customer and evaluates the information to determine the risk of money laundering, terrorist financing and other criminal activities to the financial institutions (FIs) and organizations.