Skip to main content

Glossary

This comprehensive reference guide has been created to provide you with a deeper understanding of the key concepts and terminology associated with ComPilot, and the main concepts to transition from Web2 to Web3.

Whether you're a developer, enthusiast, or just curious about the next generation of the internet, this glossary will serve as your compass in navigating ComPilot documentation.

Adverse media​

Adverse media is unfavorable information found across a wide variety of news sources. There may be risks associated with doing business with an individual or business who appears in an adverse media search.

AML​

AML stands for Anti-Money Laundering. It refers to measures designed to prevent and detect illegal activities involving the hiding or transfer of funds obtained through criminal means. It includes regulations that require organizations to verify customer identities, monitor transactions, and report suspicious activities to authorities. AML helps combat money laundering, terrorism financing, and other financial crimes.

CASPs​

CASPs stands for Crypto-Asset Service Providers, and are entities offering a range of services within the cryptocurrency and blockchain ecosystem. These services encompass cryptocurrency exchanges, wallet providers, custody solutions, token issuance platforms, and more.

Compliance​

Compliance refers to the adherence and conformity to laws, regulations, policies, and standards relevant to a specific industry or organization. It involves ensuring that business operations, processes, and practices align with legal requirements and ethical guidelines. It encompasses various areas such as data privacy, security, financial regulations, anti-money laundering (AML), know-your-customer (KYC) procedures, and more.

dApp​

A dApp, short for decentralized application, is a software application that operates on a decentralized network.

DeFi​

DeFi, short for Decentralized Finance, refers to a category of financial applications and protocols built on blockchain technology, typically using smart contracts. DeFi aims to change how traditional financial systems work, by providing open, permissionless, and inclusive financial services to anyone with an internet connection by leveraging the transparency and security of blockchain.

Decentralized Identifiers (DID)​

DIDs, which stands for Decentralized Identifiers, are unique identifiers used in decentralized digital identity systems. They enable individuals and entities to control and manage their identity data independently, without relying on a central authority. DIDs facilitate verifiable credentials, allowing individuals to share cryptographic proofs of their attributes and credentials without divulging unnecessary personal details.

eID​

eID, which stands for Electronic Identity, refers to a digital form of identification that enables individuals to prove their identity online. It serves as a secure and reliable method for authentication, allowing users to access various digital services and conduct transactions in a trusted manner.

eIDAS​

eIDAS stands for Electronic Identification, Authentication, and Trust Services, and it is a European Union regulation that establishes a framework for digital identities and trust services across EU member states. It aims to enable seamless and secure cross-border electronic transactions, ensuring mutual recognition of electronic identification and trust services among participating countries.

GDPR​

The General Data Protection Regulation or GDPR is a comprehensive data protection and privacy regulation implemented by the European Union (EU) to safeguard the personal data and privacy rights of EU citizens. It establishes a set of rules and requirements for organizations that collect, process, and store personal data, ensuring that individuals have control over their data and how it is used.

Know Your Business (KYB)​

Know Your Business or KYB is a due diligence process implemented by businesses to verify and assess the identity, legitimacy, and risk associated with their corporate clients or business partners.

Know Your Customer (KYC)​

Know Your Customer or KYC is a process implemented by businesses and financial institutions to verify the identity of their customers and assess the risk associated with them.

Know Your Transaction (KYT)​

Know Your Transaction or KYT is a monitoring process used by businesses and financial institutions to track and analyze transactional activities in real time. KYT involves the continuous monitoring and analysis of transaction data to identify suspicious or possibly illicit activities, such as money laundering or terrorist financing.

MetaMask​

MetaMask is a browser extension and cryptocurrency wallet that allows users to manage their Ethereum-based assets and interact with decentralized applications (dApps) on the Ethereum network.

OAuth​

OAuth stands for Open Authorization, and it is an open standard protocol that enables secure and delegated access to protected resources. It allows users to grant limited access to their resources hosted on one website or application to another website or application without sharing their credentials directly. Instead, OAuth uses authorization tokens, called access tokens, to grant access on behalf of the user.

OAuth 2 JWT provider​

OAuth 2.0 JWT (JSON Web Token) provider is an implementation of the OAuth 2.0 protocol that utilizes JWTs for secure authentication and authorization. It allows clients to obtain access tokens encoded as JWTs, which can be used to access protected resources on behalf of a user.

Politically exposed person (PEP)​

A politically exposed person is an individual who is, or has recently been, entrusted with a prominent public function, such as heads of state, heads of government, or members of legislative assemblies. They can also include senior management or board members of state-owned enterprises, and mayors and members of local councils.

PSAN​

A PSAN (from the French prestataire de services sur actifs numériques) is a digital asset service provider. Only registered PSANs are allowed to offer services relating to crypto assets in France.

Sanctions​

Sanctions are a range of financial restrictions and prohibitions, such as trade and investment prohibitions and embargoes, that governments deploy to achieve foreign policy objectives.

Self-sovereign identity (SSID)​

Self-sovereign identity or SSID is an approach to digital identity that gives individuals control over the information they use to prove who they are to websites, services, and applications across the web. In a self-sovereign identity system, the user accesses services in a streamlined and secure manner, while maintaining control over the information associated with their identity.

You can read more about ComPilot's solution for SSIDs in Self-sovereign identities documentation page.

For more information on SSDIs, see Self-sovereign identity on Wikipedia.

Smart Contract​

A smart contract is a self-executing agreement or code that runs on a blockchain. It contains the terms and conditions of an agreement between multiple parties and automatically executes actions once predefined conditions are met.

VASPs​

VASPs stands for Virtual Asset Service Providers, which are entities that offer services related to virtual assets, such as cryptocurrencies. They can include cryptocurrency exchanges, wallet providers, custodian services, and other businesses involved in the transfer, storage, or management of virtual assets.

Verifiable Credentials​

Verifiable Credentials are a digital representation of credentials, qualifications, or attributes that can be securely and cryptographically issued, shared, and verified. They are based on the principles of decentralized identity and enable individuals to have control over their personal information and selectively disclose specific credentials to entities or services as needed.

Verifiable Credentials Working Group (VCWG)​

The Verifiable Credentials Working Group or VCWG is a collaborative effort within the World Wide Web Consortium (W3C) focused on developing standards and specifications for Verifiable Credentials. The VCWG aims to establish a framework that enables the issuance, presentation, and verification of digital credentials in a secure and privacy-preserving manner.

Verifiable Presentations (VPs)​

Verifiable Presentations or VPs are a concept within the realm of decentralized identity and verifiable credentials. VPs refer to a method of securely presenting and sharing verifiable information or credentials between entities.

Web2​

Web2, short for Web 2.0, refers to the second phase of the World Wide Web's evolution, characterized by a shift from static web pages to dynamic, interactive online experiences. Web2 emphasizes user-generated content, social media platforms, and collaborative applications that enable users to interact, share, and participate on the web. It introduced features such as social networking, online communities, cloud computing, and mobile applications, fostering greater user engagement and interactivity.

Web3​

Web3 refers to the next generation of the internet, often referred to as the decentralized web. It represents a paradigm shift towards a more open, transparent, and user-centric online ecosystem. Web3 leverages blockchain technology and decentralized protocols to enable peer-to-peer interactions, trustless transactions, and the empowerment of individuals over their data and digital assets. It aims to provide greater privacy, security, and control to users, eliminating the need for intermediaries and centralized authorities.

Zero-knowledge proofs (ZKPs)​

Zero-knowledge proofs are cryptographic protocols that enable one party, (the prover) to convince another party (the verifier) of the truth of a statement, without revealing any specific information about the statement itself. In other words, a zero-knowledge proof enables the prover to convince the verifier that a statement is true without conveying any additional knowledge beyond the statement's validity. They are particularly useful when one party wants to prove knowledge of some information without disclosing that information. For example, a ZKP may allow a user to prove that they are over the age of 18 without disclosing their actual age.