
A blockchain is a distributed digital ledger that records transactions across a network of computers. Transactions are grouped into blocks and linked in chronological order, creating a secure and transparent record that is difficult to change once network participants agree on it.
Custody means safeguarding and administering digital assets on behalf of their owners. Custody services may include secure storage of cryptographic keys, transaction authorisation and asset protection.
The Digital Securities Sandbox (DSS) is a UK regulatory initiative operated by the Financial Conduct Authority (FCA) and the Bank of England. It gives firms a controlled environment to test the issuance, trading and settlement of digital securities using technologies such as distributed ledger technology (DLT). It supports innovation while maintaining standards for financial stability, market integrity and investor protection.
A digital token is a cryptographically secured digital asset recorded on a blockchain or distributed ledger technology (DLT) network. Tokens can represent ownership rights, access rights, economic interests or other forms of value, depending on their design and purpose.
A digital wallet is software or a device that stores the credentials needed to access, manage and transfer digital tokens or other blockchain-based assets. Wallets may be controlled by the asset owner or by a regulated third-party provider.
Distributed ledger technology (DLT) is a digital system for recording and sharing data across multiple participants or locations. Participants maintain a synchronised copy of the ledger rather than relying on one central database. Blockchain is one form of DLT, but not all DLT uses blockchain.
An immutable record is a transaction history that cannot easily be changed or deleted once the network has recorded and validated it. This creates a reliable audit trail.
Computershare launched Issuer-Sponsored Tokens (ISTs) in the US with Securitize in 2026. ISTs are tokenised holdings offered directly by an issuer under the US model. They allow eligible shareholders to hold shares in tokenised form while supporting the official shareholder register and existing shareholder rights, subject to the issuer’s programme rules and applicable requirements. Computershare continues to perform its transfer agent role for the underlying shares. Voting rights, dividends and corporate actions remain linked to the underlying share represented by the token. The model operates alongside traditional holding methods rather than replacing them.
Off chain refers to activities, data or processes that occur outside a blockchain or distributed ledger technology (DLT) network. They may still be linked to the network through references, integrations or governance arrangements.
On chain refers to activities, transactions or records that are completed and stored directly on a blockchain or distributed ledger technology (DLT) network.
A permissioned network is a blockchain or distributed ledger technology (DLT) network that restricts access to approved participants. Organisations often use permissioned networks when privacy, governance and regulatory oversight are important.
Settlement is the process of finalising the transfer of assets or ownership between parties. In tokenised markets, settlement can occur directly on a blockchain or distributed ledger technology (DLT) network, which may reduce processing times and operational complexity.
A smart contract is a computer program stored on a blockchain or distributed ledger technology (DLT) platform. It automatically carries out predefined actions when specified conditions are met, helping to automate processes and reduce manual intervention.
A token holder is a person or organisation that owns or controls one or more digital tokens representing an asset, right or economic interest.
Tokenisation is the process of creating a digital representation of an asset, right or interest on a blockchain or distributed ledger technology (DLT) network. The token can represent assets such as financial instruments, real estate, commodities, intellectual property or other forms of value.
Whitelisting, also known as allowlisting, is the process of approving specific users, participants, wallets or entities so they can access a system, take part in transactions or hold certain digital tokens. It is commonly used to support compliance, security and regulatory requirements.
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