How the blockchain is changing money and business | Don Tapscott

Important Vocabulary Words From The Video

democratized

When something is democratized, it is made available to a larger number of people. This can be done in a number of ways, but the most common way is by making the thing available for sale.

  • The airline has democratized air travel by making it available to a larger number of people.
  • The internet has democratized information by making it available to a larger number of people.

Cryptographers are people who work on security measures for computers and other electronic devices. They are responsible for encrypting information so that it is difficult for outsiders to read or use.

  • The cryptographers were able to crack the code within a few hours.
  • The cryptographers are working on a new security measure, which will make the computer more difficult to hack.
middlemen

A middleman is someone who is in between two people. They are usually involved in some kind of trade or transaction.

  • The middleman is responsible for negotiating the deal between the two companies.
  • The middleman is responsible for negotiating the deal between the two families.
monetize

To monetize something is to turn it into a source of income. You might monetize a company by selling its stock, or you might monetize a piece of land by selling it to a developer.

  • The company is trying to monetize its new software by selling it to the government.
  • The company is trying to monetize its new website by charging people for access.

When something is asymmetrically positioned, it is not in the same position on both sides. This can be a problem because it doesn't look very good.

  • The picture is asymmetrically positioned because the right side is not aligned with the left side.
  • The chair is asymmetrically positioned because the back is not aligned with the seat.
largesse

Largesse is generosity, generosity in both financial and non-financial terms. The act of giving largesse is giving something away freely and without any expectations of return.

  • She gave away a large amount of money to charity.
  • The company gave out largesse in the form of free bonuses.
speculator

A speculator is someone who invests in something without really knowing what they're doing. They are often very risky, and they can lose a lot of money very quickly.

  • The speculator bought all of the stocks in the company, which is why the company is going bankrupt.
  • The speculator bought the house without really knowing anything about it, and now he's stuck with it.
democratizing

When something is democratizing, it is becoming available to more people. This could mean that the thing is becoming cheaper, or easier to find.

  • The vaccine is now available to everyone, democratizing the prevention of diseases.
  • The internet is democratizing information, making it available to more people than ever before.