Glossary of Terms
The Growmore Anti-Money Laundering Policy adheres to the European Standards on combating money laundering and non-compliant financing. Policy available on request.
Blockchain is a technology that allows individuals and companies to make instantaneous transactions on a network without any intermediaries (like banks). Transactions made on blockchain are completely secure and by function of blockchain technology, are kept as a record of what happened.
A cryptocurrency is a digital or virtual currency that uses cryptography for security. A cryptocurrency is difficult to counterfeit because of this security feature. Many cryptocurrencies are decentralized systems based on blockchain technology, a distributed ledger enforced by a disparate network of computers.
Digital economy refers to an economy that is based on digital computing technologies. The digital economy is also sometimes called the Internet Economy, the New Economy or Web Economy. Increasingly, the "digital economy" is intertwined with the traditional economy making a clear delineation harder.
Independent Financial Advisors provide advice to clients on financial matters and recommend suitable financial products.
The International Monetary Fund (IMF) is an organization of 189 countries (and growing), working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth and reduce poverty around the world. Source: IMF
Macrotokenomics is concerned with “big data” and national/ international aggregates. It focuses on mass consumption, investment, government expenditure, supply side factors and how digital currency can effect and be affected by such macro-variables.
Microtokenomics can be considered as features that drive the functions of individual participants within a blockchain economy. It is focused on individual rational choice based on individual utility and preferences.
Regulatory policy is a core part of the OECD's work, touching aspects in every sector of the economy and affecting the everyday life of business and citizens. It is important that governments ensure that what they do in economic and social affairs is efficient and effective. Source: OECD
Tokens are a representation of a particular asset or utility that usually resides on top of another blockchain. Tokens can represent basically any assets that are fundable and tradable, from commodities to loyalty points to even other cryptocurrencies.
Token economics (or tokenomics) is the study of a new type of economy that can be defined as the design of a particular ecosystem in a blockchain environment.
A crypto wallet is a piece of software that enables one to send and receive cryptocurrencies, such as GMAM crypto. Wallets are used to store something known as “private keys”: long hexadecimal codes known only to the wallet owner.